BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Supreme Industries Ltd.’s Q1 FY22 result was below our and consensus estimates.
Statewide lockdowns amid second wave of Covid-19 dented product sales volume in April and May, particularly for agri-pipes which generally attracts higher traction pre-monsoon.
Supreme Industries reported net sales of Rs 13.4 billion, declined by 23.7% YoY, while Ebitda came in at Rs 2.2 billion, a robust growth of 89.6% over Q1 FY21.
It reported net profit of Rs 1.7 billion, higher by 319% YoY.
Higher sale of added products supported margins expansion despite lower net sales in Q1 FY22.
The management reiterated to remain focused on capacity addition and increasing share of added products in total sales in future.
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