Supreme Industries Ltd (SUPREMEIND)

Chemicals · Plastic products · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹3,573.9 ↓ 22.14% (1Y)

🎯 Key Takeaways

Supreme Industries is in a strategic transition phase, shifting focus from volume-driven growth to value-added and export-oriented segments amid industry headwinds. Despite a 14% YoY volume decline in Q1 FY27, the company delivered 17% PAT growth and maintained EBITDA margin guidance, reflecting strong margin resilience and operational discipline.
Revenue declined 23% QoQ to ₹2,718 in Q1FY27.
⚠️ Sustained volume pressure in core plastic piping segments remains a concern, with a 15% YoY decline in Q1 FY27, offsetting gains in higher-margin segm

Market Cap

₹45,398

P/E Ratio

44.0

P/B Ratio

7.36

ROE

16.7%

ROCE

22.1%

Debt/Equity

0.00

Div Yield

1.01%

Promoter

49.0%

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📖 The Story

Supreme Industries is in a strategic transition phase, shifting focus from volume-driven growth to value-added and export-oriented segments amid industry headwinds. Despite a 14% YoY volume decline in Q1 FY27, the company delivered 17% PAT growth and maintained EBITDA margin guidance, reflecting strong margin resilience and operational discipline. Management is executing a deliberate shift toward higher-margin product mix and export expansion, supported by capex and stabilization in input costs.

📰 What's Happening

In Q1 FY27, Supreme Industries reported 4% YoY revenue growth to ₹1,142 crores, driven by 24% growth in industrial products and 9% in packaging, while plastic piping volumes fell 15%. Operating profit rose 25% YoY to ₹398 crores, and PAT increased 17% to ₹208 crores, despite a 14% overall volume decline. Management cited stabilized polymer prices, new import duties, and ongoing capex of ₹500 crores toward a ₹1,000 crore annual target. Volume growth guidance remains at 15%-17% for piping and 12%-13% overall for FY27, with EBITDA margin guidance held at 14%-14.5%. The company also posted a cash surplus of ₹542 crores as of June 30, 2026, down from ₹648 crores, reflecting strategic investments.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	2,394	2,687	3,528	2,718
Operating Profit	193	204	502	276
OPM %	8.1%	7.6%	14.2%	10.1%
Net Profit	165	153	434	281
EPS	₹12.97	₹12.07	₹34.13	₹22.10

The financial trajectory shows a clear inflection: after a peak in March 2026 with ₹3,528 crores revenue and 14.2% OPM, revenue and margins have moderated in subsequent quarters, with June 2026 revenue at ₹2,718 crores and OPM at 10.1%. However, profitability remains robust, with PAT of ₹281 crores in June 2026 and a 17% YoY increase in Q1 FY27. This suggests that while top-line growth has slowed due to volume pressure in traditional segments, margin discipline and product mix upgrades are cushioning earnings, aligning with management's strategic pivot.

🔮 Management Outlook & What's Next

Management expects improved momentum in the coming quarters, citing polymer price stabilization, the implementation of the Modified Invitation of Bidding (MIP) policy, and FTAs as tailwinds for demand recovery and inventory normalization. They reiterated volume growth guidance of 15%-17% for piping and 12%-13% overall for FY27, with EBITDA margins held steady at 14%-14.5%. The focus is on sustaining profitability amid volume softness, leveraging export opportunities and high-value product expansion.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	25	25	25	25
Reserves	5,281	5,635	5,696	6,144
Borrowings	74	76	322	0
Total Liabilities	6,751	7,168	7,468	7,795
Fixed Assets	2,345	2,619	2,966	3,674
Investments	679	720	715	762
Total Assets	6,751	7,168	7,468	7,795

The balance sheet shows a strong equity base of ₹25 crores plus ₹6,144 crores in reserves as of March 2026, with zero borrowings, indicating a conservative capital structure. Total assets of ₹7,795 crores are supported by long-term investments and reserves, while the cash flow statement reveals ₹1,225 crores of operating cash flow offset by ₹1,014 crores in investing and ₹496 crores in financing outflows, leading to a net cash outflow of ₹285 crores. This suggests active capital deployment toward expansion and strategic investments, consistent with the ₹500 crore capex in Q1 FY27.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+1,225
Investing	-1,014
Financing	-496
Net Cash Flow	-285

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	48.9%	49.0%	49.0%	49.0%
FII	20.7%	19.2%	17.1%	17.1%
DII	16.1%	17.2%	19.2%	19.1%
Public	11.4%	12.0%	11.8%	12.3%
# Shareholders	78,801	86,450	85,804	95,613

Institutional investor interest has declined slightly, with FII holding dropping from 20.66% in Q2FY26 to 17.08% in Q1FY27, while DII increased marginally from 16.05% to 19.08%. Promoter holding remains stable at 48.96%. The rising number of shareholders (95,613 in Q1FY27 from 78,801 in Q2FY26) and stable promoter stake suggest broadening retail participation, but the reduction in FII exposure may reflect profit booking or sector rotation amid broader market volatility.

⚖️ Peer Comparison — Plastic products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
SUPREMEIND	45,398	44.0	22.1%	16.7%	0.00
ASTRAL	40,535	70.4	20.0%	14.2%	0.04
SHAILY	14,945	84.5	33.8%	32.3%	0.34
FINPIPE	9,633	15.6	12.7%	9.9%	0.07
TIMETECHNO	9,411	18.5	20.9%	17.2%	0.22
KINGFA	8,169	36.2	39.9%	31.0%	0.05
SAFARI	7,500	45.4	19.8%	14.8%	0.00
VIPIND	4,312	—	-43.7%	-130.7%	1.42
RESPONIND	4,002	39.5	7.5%	6.5%	0.12
PRINCEPIPE	3,223	31.0	8.0%	6.5%	0.17

🔗 Peer Stock Analyses

ASTRAL SHAILY FINPIPE TIMETECHNO KINGFA

⚠️ Risk Factors

1. Sustained volume pressure in core plastic piping segments remains a concern, with a 15% YoY decline in Q1 FY27, offsetting gains in higher-margin segments. 2. Reliance on external factors like MIP implementation and FTAs for demand recovery introduces execution risk, especially if global demand remains muted. 3. Margin guidance is being held despite input cost volatility, which could be challenged if polymer prices rebound or competitive pressures intensify. 4. Cash surplus decline to ₹542 crores from ₹648 crores may limit flexibility if capex accelerates beyond current plans.

📋 Recent Filings

🧠 Analyst's Read

Supreme Industries is navigating a structural shift toward value-added and export-driven growth, with profitability holding firm despite volume softness. The key watch is whether volume recovery in piping materializes in H2 FY27 and if margin guidance can be sustained amid evolving competitive and input cost dynamics.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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