Supreme Industries hits record high on strong March quarter results

The long-term outlook for the company remains positive given its market leading position in the piping segment where government reforms will keep the demand strong, ICICI Securities said

Shares of Supreme Industries rose 4 per cent to hit a record high of Rs 2,200 on the BSE in intra-day trade on Tuesday after the company reported a strong set of January-March quarter (Q4FY21) numbers with consolidated profit after tax more than doubling at Rs 450 crore, on the back of higher revenue. The plastic products maker had reported a profit of Rs 114 crore in the year-ago quarter.

The company’s revenue grew 46 per cent year on year (YoY) at Rs 2,085 crore. The consolidated operating profit (PBDIT) jumped 112 per cent YoY to Rs 584 crore