Supreme Industries plans Rs 200-cr capex

Leading has drawn up plans to invest Rs 200 crore in the current fiscal year.

"We are investing Rs 58 crore to set up a unit for producing LPG composite gas cylinders at Halol in Gujarat, and Rs 56 crore to start a new unit to manufacture cross laminated plastic products in Vadodara," Supreme Industries Managing Director MP Taparia said.

Besides, it is investing Rs 28 crore in a new unit at Hosur, Tamil Nadu to manufacture protective packaging products and also invest in expansion of other value-added products, he said, adding expansion will be completed by September 2013.

The will be funded through internal accruals and part of it will come from selling its space in Commercial Corporate Park in Mumbai for about Rs 70 crore.

During the September quarter, the company realised Rs 20.75 crore from sale of 13,169 sq ft of the premises. It has further negotiated for sale of 41,625 sq ft for about Rs 70.06 crore. Sale is likely to be completed in the December quarter.

The cash accruals from property sale will reduce its borrowings to Rs 350 crore in June 2012 from Rs 511 crore in June 2011, Taparia said.

During the quarter, the firm's total income and operating profit stood at Rs 480.42 crore and Rs 58.35 crore, compared to Rs 437.76 crore and Rs 56.70 crore a year ago, an increase of 9.75% and 2.91%, respectively.

Consolidated income and net profit for the quarter under review stood at Rs 501.18 crore and Rs 32.55 crore, as against Rs 473.44 crore and Rs 45.75 crore a year ago.

Operating margin remained under pressure due to fall in raw material prices and weakening of rupee against dollar.

Following the completion of expansion plans, the revenue contribution from the value-added products division will increase to Rs 850 crore in this fiscal from Rs 680 crore last fiscal, Taparia said.

image
Business Standard
177 22
Business Standard

Supreme Industries plans Rs 200-cr capex

Press Trust of India  |  Mumbai 



Leading has drawn up plans to invest Rs 200 crore in the current fiscal year.

"We are investing Rs 58 crore to set up a unit for producing LPG composite gas cylinders at Halol in Gujarat, and Rs 56 crore to start a new unit to manufacture cross laminated plastic products in Vadodara," Supreme Industries Managing Director MP Taparia said.

Besides, it is investing Rs 28 crore in a new unit at Hosur, Tamil Nadu to manufacture protective packaging products and also invest in expansion of other value-added products, he said, adding expansion will be completed by September 2013.

The will be funded through internal accruals and part of it will come from selling its space in Commercial Corporate Park in Mumbai for about Rs 70 crore.

During the September quarter, the company realised Rs 20.75 crore from sale of 13,169 sq ft of the premises. It has further negotiated for sale of 41,625 sq ft for about Rs 70.06 crore. Sale is likely to be completed in the December quarter.

The cash accruals from property sale will reduce its borrowings to Rs 350 crore in June 2012 from Rs 511 crore in June 2011, Taparia said.

During the quarter, the firm's total income and operating profit stood at Rs 480.42 crore and Rs 58.35 crore, compared to Rs 437.76 crore and Rs 56.70 crore a year ago, an increase of 9.75% and 2.91%, respectively.

Consolidated income and net profit for the quarter under review stood at Rs 501.18 crore and Rs 32.55 crore, as against Rs 473.44 crore and Rs 45.75 crore a year ago.

Operating margin remained under pressure due to fall in raw material prices and weakening of rupee against dollar.

Following the completion of expansion plans, the revenue contribution from the value-added products division will increase to Rs 850 crore in this fiscal from Rs 680 crore last fiscal, Taparia said.

RECOMMENDED FOR YOU

Supreme Industries plans Rs 200-cr capex

Leading plastics products maker Supreme Industries has drawn up plans to invest Rs 200 crore in the current fiscal year.

Leading has drawn up plans to invest Rs 200 crore in the current fiscal year.

"We are investing Rs 58 crore to set up a unit for producing LPG composite gas cylinders at Halol in Gujarat, and Rs 56 crore to start a new unit to manufacture cross laminated plastic products in Vadodara," Supreme Industries Managing Director MP Taparia said.

Besides, it is investing Rs 28 crore in a new unit at Hosur, Tamil Nadu to manufacture protective packaging products and also invest in expansion of other value-added products, he said, adding expansion will be completed by September 2013.

The will be funded through internal accruals and part of it will come from selling its space in Commercial Corporate Park in Mumbai for about Rs 70 crore.

During the September quarter, the company realised Rs 20.75 crore from sale of 13,169 sq ft of the premises. It has further negotiated for sale of 41,625 sq ft for about Rs 70.06 crore. Sale is likely to be completed in the December quarter.

The cash accruals from property sale will reduce its borrowings to Rs 350 crore in June 2012 from Rs 511 crore in June 2011, Taparia said.

During the quarter, the firm's total income and operating profit stood at Rs 480.42 crore and Rs 58.35 crore, compared to Rs 437.76 crore and Rs 56.70 crore a year ago, an increase of 9.75% and 2.91%, respectively.

Consolidated income and net profit for the quarter under review stood at Rs 501.18 crore and Rs 32.55 crore, as against Rs 473.44 crore and Rs 45.75 crore a year ago.

Operating margin remained under pressure due to fall in raw material prices and weakening of rupee against dollar.

Following the completion of expansion plans, the revenue contribution from the value-added products division will increase to Rs 850 crore in this fiscal from Rs 680 crore last fiscal, Taparia said.

image
Business Standard
177 22
Widgets Magazine

More News

Widgets Magazine
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard