This multibagger stock gained 2% after the company acquired PVC business for Rs. 235 crore including adjoining land acquisition for Rs. 171 crore.
Share prices of Supreme Industries opened at Rs. 4,522 and reached its 52 week high at Rs. 4566.4 in Friday’s trading session. The stock returned 62.3% in six months and a multibagger return of 131% in the last year.
On 24th August 2023, the company acquired the entire business of Parvati Agro Plast including PVC-O, HDPE, and PVC pipes business. Ever since then the stock is trading at high volumes.
The figures for Q1FY24 show a decline in both the revenue and net profit. The company has a market capitalization of Rs. 56,027 crore. For this quarter, the revenue stands at Rs. 2,368.5 crore which is a fall of 8.84% from Rs. 2,598.3 crore in the last quarter. Its net profit decreased by 40.03% to Rs. 215.54 crore from Rs. 359.4 in the last quarter. It holds a return of equity of 20.99% and has 27.15% as its Return on Capital Employed.
As per its shareholding pattern, the promoters hold a total of 48.85% stake in the company. Public holding in the company stands at 14.98% along with FII investors holding 19.06% and DII with a holding of 17.11%
Supreme Industries is known for manufacturing products made with polymer. Established back in 1942, the company produces a wide range of products such as HMHD Films, SWR Piping System, Moulded Furnishings, Multiplayer films, and many more.
Written by Bhumika Khandelwal
