Supreme Industries Limited is India’s leading plastics product manufacturer, offering a wide and comprehensive range of plastic products in India. The company operates in various product categories viz. Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Industrial Moulded Components, Moulded Furniture, Storage & Material Handling Products, PerformancePackaging Films and Composite LPG Cylinders.[1]
Business Segments1) Plastic Piping Products (67% in 9M FY25 vs 66% in FY23):[1][2]The company isIndia's leading manufacturer of plastic piping solutions, offering 14,000+ SKUs across products like uPVC pipes, injection moulded PVC fittings, handmade fittings, HDPE pipe systems, etc for diverse applications in plumbing, water tanks, fire protection, drainage, and more.[3][4]In 9M FY25, the segment was impacted by unfavourable PVC resin prices and slower-than-expected demand recovery from infrastructure spending.[5]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Supreme Inds. | 3489.20 | 54.57 | 44306.96 | 0.97 | 193.29 | -11.90 | 2393.87 | 5.32 | 23.66 | 10540.03 | 12.74 | 811.92 | 193.29 | 8.78 | 13.82 | 0.06 |
| 2. | Astral | 1464.30 | 77.26 | 39347.86 | 0.26 | 134.80 | 22.55 | 1577.40 | 15.11 | 19.71 | 6017.00 | 16.00 | 509.30 | 134.80 | 10.42 | 10.52 | 0.07 |
| 3. | Finolex Inds. | 176.66 | 25.08 | 10968.22 | 1.13 | 119.20 | 131.73 | 858.74 | 3.66 | 8.77 | 4074.94 | 11.74 | 437.35 | 119.20 | 1.89 | 5.50 | 0.00 |
| 4. | Shaily Engineer. | 2156.80 | 67.86 | 9919.03 | 0.09 | 51.25 | 133.80 | 256.65 | 33.67 | 19.52 | 918.75 | 26.99 | 146.16 | 51.25 | 15.60 | 10.85 | 0.30 |
| 5. | Time Technoplast | 179.12 | 21.03 | 8847.82 | 0.70 | 117.23 | 17.36 | 1511.11 | 10.26 | 17.35 | 5720.24 | 14.54 | 420.82 | 115.44 | 2.67 | 9.25 | 0.22 |
| 6. | Garware Hi Tech | 2875.50 | 21.33 | 6674.29 | 0.42 | 91.23 | -12.50 | 569.69 | -8.20 | 20.57 | 2078.99 | 19.94 | 312.86 | 91.23 | 2.67 | 13.23 | 0.01 |
| 7. | Kingfa Science | 4336.10 | 37.29 | 5871.41 | 0.00 | 41.14 | 10.41 | 465.69 | 11.32 | 30.55 | 1837.54 | 12.53 | 157.46 | 41.14 | 4.54 | 14.22 | 0.01 |
| – | Median: 39 Co. | 176.66 | 21.33 | 364.61 | 0.0 | 4.24 | 14.44 | 79.73 | 9.55 | 16.16 | 290.1 | 10.64 | 13.07 | 4.24 | 2.46 | 6.21 | 0.3 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,087 | 2,311 | 2,598 | 2,369 | 2,309 | 2,449 | 3,008 | 2,636 | 2,273 | 2,510 | 3,027 | 2,609 | 2,394 |
Expenses | 1,939 | 2,007 | 2,118 | 2,047 | 1,952 | 2,070 | 2,517 | 2,249 | 1,954 | 2,201 | 2,610 | 2,290 | 2,096 |
Operating Profit | 147 | 303 | 481 | 322 | 357 | 379 | 491 | 388 | 319 | 309 | 417 | 319 | 297 |
Other Income | 46 | 20 | 11 | 14 | 53 | 32 | 18 | 21 | 56 | 23 | 12 | 17 | 59 |
Profit before tax | 127 | 257 | 416 | 262 | 336 | 329 | 424 | 320 | 282 | 238 | 335 | 240 | 246 |
Tax % | 18% | 25% | 25% | 26% | 23% | 25% | 26% | 26% | 22% | 25% | 22% | 26% | 21% |
Net Profit | 104 | 194 | 311 | 194 | 260 | 247 | 314 | 236 | 219 | 180 | 262 | 177 | 193 |
EPS in Rs | 8.19 | 15.28 | 24.45 | 15.30 | 20.47 | 19.47 | 24.76 | 18.59 | 17.27 | 14.14 | 20.60 | 13.96 | 15.22 |
Standalone Figures in ₹ Crores / Yearly
| Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 3,961 | 4,253 | 2,960 | 4,461 | 4,969 | 5,611 | 5,511 | 6,355 | 7,773 | 9,201 | 10,134 | 10,446 | 10,540 |
Expenses | 3,372 | 3,588 | 2,498 | 3,700 | 4,182 | 4,828 | 4,676 | 5,071 | 6,531 | 8,002 | 8,586 | 9,014 | 9,198 |
Operating Profit | 589 | 666 | 462 | 762 | 787 | 784 | 836 | 1,284 | 1,242 | 1,200 | 1,549 | 1,433 | 1,342 |
Other Income | 13 | 9 | 5 | 11 | 17 | 103 | 18 | 28 | 68 | 82 | 118 | 113 | 112 |
Interest | 79 | 60 | 32 | 34 | 21 | 26 | 20 | 22 | 5 | 8 | 16 | 12 | 15 |
Depreciation | 102 | 139 | 105 | 154 | 167 | 184 | 206 | 213 | 230 | 263 | 298 | 359 | 380 |
Profit before tax | 421 | 476 | 331 | 585 | 615 | 677 | 628 | 1,078 | 1,075 | 1,010 | 1,352 | 1,175 | 1,059 |
Net Profit | 281 | 316 | 213 | 379 | 410 | 461 | 496 | 801 | 812 | 764 | 1,016 | 897 | 812 |
EPS in Rs | 22.15 | 24.85 | 16.76 | 29.86 | 32.24 | 36.29 | 39.08 | 63.09 | 63.91 | 60.18 | 80.00 | 70.60 | 63.92 |
Dividend Payout % | 36% | 36% | 45% | 50% | 37% | 36% | 36% | 35% | 38% | 43% | 38% | 48% | – |
Standalone figures in ₹ crores
| Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 940 | 1,098 | 1,197 | 1,528 | 1,708 | 1,967 | 2,107 | 2,844 | 3,363 | 3,819 | 4,473 | 4,961 | 5,025 |
Borrowings | 473 | 393 | 412 | 279 | 248 | 162 | 441 | 38 | 46 | 51 | 55 | 76 | 322 |
Other Liabilities | 668 | 753 | 698 | 832 | 794 | 914 | 875 | 1,076 | 1,107 | 1,242 | 1,391 | 1,431 | 1,425 |
Total Liabilities | 2,105 | 2,269 | 2,332 | 2,665 | 2,774 | 3,069 | 3,448 | 3,983 | 4,540 | 5,138 | 5,945 | 6,493 | 6,797 |
Fixed Assets | 1,088 | 1,032 | 1,185 | 1,263 | 1,353 | 1,521 | 1,608 | 1,714 | 1,767 | 2,064 | 2,322 | 2,669 | 3,049 |
Gross Block | 1,754 | 1,844 | 2,086 | 2,298 | 2,541 | 2,809 | 3,076 | 3,382 | 3,650 | 4,193 | 4,706 | 5,391 | – |
Accumulated Depreciation | 666 | 812 | 901 | 1,035 | 1,187 | 1,288 | 1,468 | 1,668 | 1,883 | 2,128 | 2,384 | 2,722 | – |
CWIP | 18 | 100 | 68 | 47 | 75 | 90 | 93 | 51 | 156 | 84 | 149 | 407 | 483 |
Investments | 34 | 34 | 34 | 34 | 34 | 64 | 39 | 39 | 22 | 22 | 29 | 45 | 44 |
Other Assets | 966 | 1,103 | 1,045 | 1,321 | 1,312 | 1,394 | 1,709 | 2,178 | 2,595 | 2,967 | 3,445 | 3,372 | 3,221 |
Total Assets | 2,105 | 2,269 | 2,332 | 2,665 | 2,774 | 3,069 | 3,448 | 3,983 | 4,540 | 5,138 | 5,945 | 6,493 | 6,797 |
Standalone Figures in ₹ Crores / Yearly
| Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 326 | 601 | 296 | 464 | 505 | 557 | 539 | 1,246 | 471 | 891 | 1,413 | 1,004 |
Cash from Investing Activity | -134 | -186 | -218 | -202 | -267 | -240 | -196 | -199 | -403 | -344 | -591 | -798 |
Cash from Financing Activity | -188 | -260 | -234 | -210 | -284 | -316 | -156 | -506 | -310 | -327 | -382 | -440 |
Net Cash Flow | 5 | 155 | -155 | 52 | -46 | 1 | 188 | 541 | -242 | 220 | 441 | -234 |
Standalone Figures in ₹ Crores / Yearly
| Jun 2014 | Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 22 | 20 | 29 | 23 | 28 | 25 | 21 | 22 | 22 | 20 | 18 | 19 |
Inventory Days | 68 | 60 | 107 | 101 | 80 | 74 | 94 | 70 | 88 | 78 | 74 | 70 |
Days Payable | 38 | 39 | 66 | 59 | 56 | 55 | 58 | 60 | 56 | 51 | 55 | 47 |
Cash Conversion Cycle | 51 | 42 | 70 | 64 | 52 | 44 | 57 | 33 | 54 | 47 | 37 | 42 |
Working Capital Days | 11 | 2 | 2 | 19 | 23 | 24 | 13 | 19 | 44 | 39 | 30 | 29 |
ROCE % | 37% | 36% | 24% | 36% | 33% | 30% | 27% | 40% | 34% | 27% | 31% | 24% |
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Stock Analysis
Supreme Industries Limited is India's leading manufacturer of plastic products, with a significant presence in the piping systems segment, and is exploring new technological avenues.
The new technology partnership with Vashishtha Research for pressure vessel development and commercialization could open new growth avenues for the company.
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