KRChoksey: Supreme Petrochem’s Q1 Volumes Get Severely Hit By Covid-19
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Supreme Petrochem Ltd.’s first quarter revenue from operations decreased by 62.1% YoY (- 55.9+% QoQ) to Rs 29,227 lakh.
Gross Profit Margin contracted 391 basis points/322 basis points YoY/QoQ to 11.7% in Q1 FY21 from 15.6% in Q1 FY20 and 14.9% in Q4 FY20.
Ebitda turned negative for the quarter and stood at Rs 319 Lakh versus Rs 5,934 Lakh in Q1 FY20 and Rs 3,918 Lakh in Q4 FY20.
The business was impacted due to Covid-19 pandemic and the ensuing lockdown that followed. Domestic volumes shrunk to 38% of the volumes in the corresponding quarter of the previous year.
On exports front, the company performed well. Including exports, the company could sell only 53% of the total volumes in the corresponding quarter of the previous year.
Company continues to face challenges with regards to labor shortages and restrictions on full fledged operations in some regions. It is currently operating at 70% utilization levels.
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