Supreme Petrochem tumbles after weak Q1 earnings

Supreme Petrochem fell 7.51% to Rs 78.85 at 11:53 IST on BSE after net profit fell 59.55% to Rs 10.74 crore on 11.40% decline in net sales to Rs 694.23 crore in Q1 September 2014 over Q1 September 2013.

The result was announced after market hours on Thursday, 16 October 2014.

Meanwhile, the BSE Sensex was up 9.80 points, or 0.04%, to 26,009.14.

On BSE, so far 59,000 shares were traded in the counter, compared with an average volume of 41,786 shares in the past one quarter.

The stock hit a high of Rs 83.50 and a low of Rs 77.75 so far during the day. The stock hit a record high of Rs 98.45 on 16 September 2014. The stock hit a 52-week low of Rs 50.95 on 26 February 2014.

The stock had underperformed the market over the past one month till 16 October 2014, falling 2.35% compared with 1.86% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.22% as against Sensex's 1.76% rise.

The small-cap company has an equity capital of Rs 96.84 crore. Face value per share is Rs 10.

Supreme Petrochem (SPL) is the leader in polystyrene business in the Indian market place with a share of more than 50%. SPL is also the largest exporter of polystyrene from India, exporting to over 80 countries around the globe. Polystyrene is widely employed in the food-service industry as rigid trays and containers, disposable eating utensils, and foamed cups, plates, and bowls.

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