Supreme Petrochem shares touches one year high, reports 820 per cent rise in net profit

The shares of  Supreme Petrochem (SUPPETRO) zoomed at about 20 per cent and locked in the upper circuit on Wednesday (22th July). This is in response to the SUPPETRO's Q4 results of FY15, which boosted the net profit by 820 per cent year on year basis from Rs 7.73 crores in Q4FY14 to Rs 63.42 crores in Q4FY15. The stock closed yesterday (21st July) at Rs 95.35 and touched a one year high of Rs 114.40 in the BSE on Wednesday.

SUPPETRO declared standalone Audited Results for the year ended 30th June 2015 as on 21st July 2015. On an annual basis the company reported an increase of 17 per cent in net profit, which stood at Rs 35.70 crore in FY15 compared to Rs 30.58 crores in FY14. It is mainly because of an increase of 6.7 per cent in domestic sales volume of the company's products during the year and 20 per cent decline in consumption of raw material compared to last year.

However, the total revenue of the company declined by 18.7 per cent to Rs 2652.54 crore in FY15, as compared to Rs 3264.30 crore, reported in FY14. The sales volume including exports, however, was lower by 4.5 per cent as compared to the previous year due to fall in export.

The SUPPETRO informed BSE that the Board of Directors of the Company at its meeting declared 15 per cent dividend for the year 2014-15, which comes to Rs 1.50 per equity share. This resulted in an outgo of Rs 17.42 crore including dividend distribution tax. The company also approved the change in financial year of the Company to April-March from the existing July-June year. Accordingly the financial year 2015-16 will comprise of nine months, from 1st July 2015 to 31st March 2016.

The SUPPETRO is an Indian petrochemical company with business interest in manufacture and export of Polystyrene. It owns and operates state-of-the art production facilities in two locations in India the first at Amdoshi – Wangani Village near Nagothane in District Raigad Maharashtra and the Second in New Manali Town near Chennai in Tamil Nadu. The Product range covers the entire spectrum of Polystyrene. General Purpose Polystyrene (GPPS) range covers MFI of 3 to 12, HIPS covering both extrusion and moulding grades, ESCR, High Gloss and super High Impact grades, also available are Flame Retardant Polystyrene and Pre Coloured Polystyrene.