Press Release
THE SUPREME INDUSTRIES LIMITED (SIL) ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH SEPTEMBER, 2010.
Mumbai, 19th October, 2010 – The Supreme Industries Limited (SIL), India’s leading processors of Plastics, announced its Un-audited financial results for the first quarter ended 30th September, 2010, at its Board Meeting held today.
The financial performance highlights for the 1st Quarter ended 30th September, 2010, are as follows–
Mumbai, 19th October, 2010 – The Supreme Industries Limited (SIL), India’s leading processors of Plastics, announced its Un-audited financial results for the first quarter ended 30th September, 2010, at its Board Meeting held today.
The financial performance highlights for the 1st Quarter ended 30th September, 2010, are as follows–
The Company processed 45,531 MT Polymers during the 1st Quarter of the Current Year against 38,611 MT in the corresponding quarter of the previous year achieving volume growth of 18%.
SIL’s, Total Income and Operating Profit for the 1st quarter of the current year amounted to Rs. 473.36 crores and Rs. 78.22 crores (including Rs. 35.60 crores and Rs. 21.49 crores, respectively from sale of premises in Commercial Complex), as compared to Rs. 343.38 crores and Rs. 51.29 crores, for the corresponding quarter of the previous year, recording an increase of 37.85% and 52.50% respectively.
The Profit before Tax and Profit after Tax, for the 1st quarter of the current year amounted to Rs. 60.31 crores and Rs. 40.31 crores (including Rs. 21.49 crores and Rs. 14.64 crores, respectively, from sale of premises in Commercial Complex), as compared to Rs. 29.86 crores and Rs. 19.86 crores, for the corresponding quarter of the previous year, recording an increase of 101.98% and 102.97% respectively.
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Commercial Complex viz. "Supreme Chambers" consisting of 10 floors, comprised of saleable area of 2,75,000 sq. ft., with most modern state of the art amenities/facilities, at Company's site at Andheri (West), Mumbai, is ready for occupation. During the quarter Company has realised Rs.3560 lacs from sale of 23,081 sq. ft. of the premises and shown separately under "Net Sales (Construction business)". Proportionate cost thereof including interest on funds employed has been shown as "Cost of premises Sold". Other overheads pertaining to sale of premises amounting to Rs.141.05 lacs have been shown under respective head of expenditure. Provision for Corporate Tax includes Rs.685 lacs towards profit accrued from construction business. Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said: "Seeing the good growth potential in all the product segments, where the Company operates, and due to the increased demand coming from automotive, agriculture, industrial and consumer sectors, the Company has committed to invest sum of Rs. 325 crores in the current year, which also includes sum of Rs. 50 crores allocated for the manufacture of domestic LPG composite Cylinders. The share of value added products are growing resulting into improved operating profit margin. The company expects to achieve a volume growth of 20% plus in the current year." About Supreme Industries Limited Supreme Industries Limited is India’s leading processor of plastics, offering a wide and comprehensive range of plastic products in India. The company operates in various segments viz. Plastics Piping System, Packaging Products, Industrial Components, Material handling system, Cross Laminated Polyethylene Films & Products thereof and Furniture. Supreme Industries has 19 technologically advanced manufacturing facilities located at various places spread across the country. The company has built up excellent relationship with its distributors and is also providing orientation to them, in order to ensure proper service to ultimate customers. For further information, kindly contact: Vikas Sahni / Urvi Joshi Sampark Public Relations 9892629404 / 9819133340 |
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| Sr. Vice-President (Finance) & Secretary | |||||||||||||||||||||||||||||||||||
