Supreme Industries logo

Supreme Industries

SUPREMEIND NSE

Key Fundamentals

MidcapPlastic Products - IndustrialIndustrial Products
Market Cap
₹42,973 Cr
Volatility
Moderate
P/E Ratio
41.59
EBITDA
₹1,598 Cr
Return on Equity
15.46%
Debt to Equity
0.01
Book Value
₹485.65
EPS
₹88.76
52W High
₹4,293.9
52W Low
₹3,140

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 42.8%

Growth Rate

Revenue Growth
7.22% higher than 3Y
Net Income Growth
-0.72% lower than 3Y
Cash Flow Change
22.02% higher than 3Y
ROE
-8.95% lower than 3Y
ROCE
-6.74% higher than 3Y
EBITDA Margin (Avg.)
0.07% higher than 3Y

AI Analysis — Bull vs Bear

4d ago
AI opinion · based on fundamentals
Risk medium

Supreme Industries, India's largest plastics processor, has a market capitalisation of about ₹44,809 Cr. It trades at a P/E of 43.6 and 7.3x book value, is almost debt free, and pays a 42.8% dividend payout (1.01% yield). The 10-year record is strong, with 14% sales CAGR and 15% profit CAGR, but recent momentum is weaker: 3-year profit CAGR is 3%, 5-year profit CAGR is -1%, ROE fell to 16% last year, and the stock returned -16% over one year.

Bull Case 7
  • The balance sheet is almost debt free. This gives the company room to fund capacity expansion in piping and packaging from internal accruals without balance-sheet strain.
  • Long-term compounding: 10-year sales CAGR of 14% and profit CAGR of 15% show growth held up across several business cycles.
  • Profit growth is picking up again, with TTM profit up 16% against a 3-year CAGR of only 3%. This suggests margins may be recovering after a weak phase.
  • Return ratios have been consistently high over time. ROE averaged 22% over 10 years and 20% over 5 years, which points to capital-efficient operations in a commoditised industry.
  • Shareholder returns are steady, with a dividend payout of 42.8% and a 1.01% yield, while the company still reinvests the rest of its earnings.
  • TTM sales growth of 9% is above the 3-year CAGR of 7%, a sign that volumes are improving in core segments such as plastic piping.
  • Over the long run the stock has compounded at 15% a year for 10 years, in line with 15% profit growth. Historically, price has tracked fundamentals.
Bear Case 7
  • Valuation is rich: P/E of 43.6 and price-to-book of 7.3x. These multiples leave little room for execution misses, especially when 3-year profit growth has been just 3%.
  • Medium-term earnings have stagnated. The 5-year profit CAGR is -1% even though 5-year sales CAGR is 12%, which points to margin compression, likely from volatile PVC and polymer prices.
  • Returns on equity are falling. ROE dropped to 16% last year from a 10-year average of 22%, and the 3-year average of 18% confirms the downward trend.
  • Revenue growth has slowed, with the 3-year sales CAGR at 7% against 14% over 10 years.
  • The stock has done poorly recently, returning -16% over 1 year and -5% a year over 3 years. The market has been de-rating it as growth slowed.
  • Commodity exposure is high. Raw materials (PVC resin, polyethylene, polypropylene) are a large share of costs, and inventory losses in down-cycles can wipe out profits. The -1% 5-year profit CAGR partly reflects this.
  • The 1.01% dividend yield is modest, so it gives little valuation support if the P/E of 43.6 contracts.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 2
  • Stock down 23% in 12 months Sep 18

    Supreme Industries has fallen about 23% over the last 12 months and closed at ₹3,344.40 on Sep 17, before the Investec upgrade. Investec also cut its valuation multiple to 36x P/E from 40x.

  • JJM funding freeze hit pipes Sep 18

    The central government released no Jal Jeevan Mission funds in FY26, which hurt demand in the pipes segment. Investec expects releases to resume, but a recovery depends on fund flows and execution on the ground.

Positives 5
  • Investec double upgrade to Buy Sep 18

    Investec upgraded the stock to 'Buy' from 'Sell' and raised its target to ₹3,860 from ₹3,500, about 15% upside. The stock rose as much as 3.5% to ₹3,461.30. Investec raised FY27 and FY28 profit estimates by 10% and 13%.

  • Strong FY26-29 growth forecast Sep 18

    Investec forecasts a 12% revenue CAGR from ₹11,218 crore in FY26 to ₹15,563 crore in FY29, and a 15% EBITDA CAGR from ₹1,553 crore to ₹2,398 crore. It expects normalised net income to rise from ₹954 crore to ₹1,446 crore.

  • PVC price rally aids inventory gains Sep 18

    Domestic PVC prices rose from ₹82/kg on June 25 to ₹103/kg, and Investec sees room for another ₹10/kg increase. Quarter-to-date prices are about 10% above the Q1 FY27 average, which could bring inventory gains in Q2 FY27.

  • JJM audit cycle largely over Sep 18

    Investec says the JJM audit cycle is mostly behind the company, and initial fund flows to some states are already visible. It forecasts EBITDA/kg averaging ₹23 over FY27-29.

  • Strong analyst consensus Sep 18

    Bloomberg data shows 22 of 30 analysts rate the stock 'Buy', 6 rate it 'Hold' and 2 rate it 'Sell'.

Neutral 2
  • ₹25.36 crore block trade on BSE Sep 23

    About 72,567 shares changed hands on BSE at ₹3,495 per share, worth ₹25.36 crore in total. This is a real-time large-trade signal with no buyer or seller details, not a confirmed exchange-reported event.

  • Promoter shares via transmission Sep 4

    Vijay Kumar Taparia acquired 3,17,398 shares through transmission from the late Shri Bajranglal Taparia, raising his stake to 0.44%. This moves shares within the promoter family and does not change total holdings.

TL;DR: After falling about 23% over the past year, Supreme Industries is getting a more positive outlook. Investec's double upgrade to 'Buy' with a ₹3,860 target is based on a recovery in JJM funding and PVC prices rising from ₹82 to ₹103/kg. The main risks are whether JJM fund releases actually resume and the lower 36x valuation multiple. The trend looks better, with Q2 FY27 inventory gains and a rebound in pipe demand as the next likely triggers.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,369
2,309
2,449
3,008
2,636
2,273
2,510
3,027
2,609
2,394
2,687
3,528
2,718
Expenses
2,047
1,952
2,070
2,517
2,249
1,954
2,201
2,611
2,290
2,096
2,373
2,905
2,320
Operating Profit
322
356
379
491
387
319
309
416
319
297
314
623
398
OPM %
14%
15%
15%
16%
15%
14%
12%
14%
12%
12%
12%
18%
15%
Other Income
36
37
42
59
59
43
31
45
42
30
13
60
82
Interest
2
2
5
8
3
3
3
3
3
6
11
9
4
Depreciation
72
72
77
77
86
90
91
91
93
104
110
121
122
PBT
283
319
338
465
357
270
245
367
265
218
206
553
354
Tax %
24%
24%
24%
24%
23%
23%
24%
20%
24%
24%
26%
22%
21%
Net Profit
216
243
256
355
273
207
187
294
202
165
153
434
281
EPS in Rs
16.97
19.14
20.17
27.93
21.52
16.26
14.72
23.14
15.93
12.97
12.07
34.13
22.1
Figures in ₹ Crores

Profit & Loss

Particulars Jun 2015Mar 2016 9mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,254
2,960
4,462
4,969
5,612
5,512
6,355
7,773
9,202
10,134
10,446
11,218
11,326
Expenses
3,588
2,498
3,700
4,182
4,827
4,676
5,071
6,531
8,002
8,587
9,015
9,664
9,694
Operating Profit
666
462
762
787
785
835
1,284
1,242
1,200
1,547
1,432
1,553
1,632
OPM %
16%
16%
17%
16%
14%
15%
20%
16%
13%
15%
14%
14%
14%
Other Income
5
-4
8
38
89
32
163
224
183
173
178
146
186
Interest
60
32
34
21
26
20
22
5
8
16
12
29
30
Depreciation
139
105
154
167
184
206
213
230
263
298
359
428
458
PBT
472
322
582
637
664
641
1,212
1,232
1,111
1,405
1,239
1,242
1,330
Tax %
34%
37%
35%
32%
32%
27%
19%
21%
22%
24%
22%
23%
—
Net Profit
322
221
430
432
449
467
978
968
865
1,070
961
954
1,032
EPS in Rs
25.38
17.43
33.88
33.99
35.32
36.8
77
76.24
68.12
84.21
75.64
75.1
81.27
Div. Payout %
35%
43%
44%
35%
37%
38%
29%
31%
38%
36%
45%
48%
—
Figures in ₹ Crores

Balance Sheet

Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
25
25
25
25
25
25
25
25
25
25
25
25
Reserves
1,186
1,290
1,670
1,869
2,129
2,236
3,144
3,819
4,377
5,083
5,635
6,144
Borrowings
393
412
279
248
162
441
38
46
51
55
76
91
Other Liabilities
753
697
832
793
913
917
1,075
1,106
1,241
1,392
1,432
1,535
Total Liabilities
2,357
2,425
2,807
2,936
3,229
3,619
4,282
4,996
5,694
6,556
7,168
7,795
Fixed Assets
1,033
1,185
1,263
1,353
1,521
1,608
1,714
1,767
2,064
2,322
2,669
3,673
CWIP
100
68
47
75
90
93
51
156
84
149
407
136
Investments
121
126
175
194
222
207
337
476
577
638
720
762
Other Assets
1,104
1,046
1,322
1,314
1,396
1,711
2,180
2,597
2,969
3,447
3,372
3,223
Total Assets
2,357
2,425
2,807
2,936
3,229
3,619
4,282
4,996
5,694
6,556
7,168
7,795
Figures in ₹ Crores

Cash Flow

Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
601
296
465
508
556
539
1,246
470
890
1,413
1,004
1,225
Investing
-186
-218
-202
-267
-240
-196
-199
-403
-345
-591
-798
-1,024
Financing
-260
-234
-210
-284
-316
-156
-506
-310
-327
-382
-440
-496
Net Cash Flow
155
-155
52
-43
0
188
542
-243
219
441
-234
-295
Free Cash Flow
407
65
255
226
230
300
1,025
4
469
866
116
416
CFO/OP
112
91
83
92
103
84
115
61
94
112
91
95
Figures in ₹ Crores

Ratios

Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
20
29
23
28
25
21
22
22
20
18
19
16
Inventory Days
60
107
101
80
74
94
70
88
78
74
70
80
Days Payable
39
66
59
56
55
58
60
55
51
55
47
51
Cash Conversion Cycle
42
70
64
52
44
57
33
54
47
37
42
45
Working Capital Days
2
3
19
23
24
14
19
45
40
30
29
34
ROCE %
34%
22%
33%
32%
28%
26%
42%
35%
26%
29%
22%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others2.60%Govt.0.10%Promot.48.96%Public12.28%FIIs17.08%DIIs18.98%As ofJun 2026

Documents

Frequently Asked Questions about Supreme Industries

What does Supreme Industries Ltd do?
Supreme Industries Limited is India’s leading plastics product manufacturer, offering a wide and comprehensive range of plastic products in India. The company operates in various product categories viz. Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Indust...
Where is Supreme Industries Ltd (SUPREMEIND) listed?
Supreme Industries Ltd trades as SUPREMEIND on the NSE and under code 509930 on the BSE.
Which sector does Supreme Industries Ltd belong to?
Supreme Industries Ltd is classified under the Industrial Products sector, in the Plastic Products - Industrial industry.
What is the market capitalisation of Supreme Industries Ltd?
Supreme Industries Ltd has a market capitalisation of ₹42,973 Cr, which places it in the Large Cap band.
What is the PE ratio of Supreme Industries Ltd?
Supreme Industries Ltd trades at a PE ratio of 41.59, on earnings per share of ₹88.76, against a book value of ₹485.65 per share.
What is the 52-week high and low of Supreme Industries Ltd?
Over the last 52 weeks Supreme Industries Ltd has traded between ₹3,140 and ₹4,293.9.
Does Supreme Industries Ltd pay dividends?
Supreme Industries Ltd has a dividend yield of 1.04%.
What is the Return on Equity (ROE) of Supreme Industries Ltd?
Supreme Industries Ltd reported a return on equity of 15.46%. Its debt-to-equity ratio is 0.01.

Company Information

Supreme Industries Limited is India’s leading plastics product manufacturer, offering a wide and comprehensive range of plastic products in India. The company operates in various product categories viz. Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Industrial Moulded Components, Moulded Furniture, Storage & Material Handling Products, Performance Packaging Films and Composite LPG Cylinders.[1]

Website supreme.co.in
CEO Mr. Mahavirprasad Surajmal Taparia B.A.
Employees 5,374
Listed 1995-07-19
Face Value ₹ 2
Issued Size 12,70,26,870

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