The net profit for this Moneylife pick was up 44%
Supreme Petrochem has recorded 26% year-on-year (y-o-y) higher net sales for the March 2013 quarter, at Rs790.49 crore, when compared to the Rs625.98 crore it recorded for the same quarter last year. Net profit for the third quarter fiscal rose 44% y-o-y to Rs26.32 crore when compared to Rs18.19 crore in the corresponding period last year.
High prices of styrene monomer, one of its raw materials, during the year coupled with low demand from appliances sector put the domestic polystyrene demand which resulted in de-growth on a nine-month basis, according to the company. The accounting year of the company ends in June.
According to Moneylife database, the three-quarter y-o-y sales growth is 33% while the company’s net sales for its third quarter grew at 26%; considering difficult conditions, this is not too bad a figure. Its operating profit grew at roughly 35% y-o-y. The return on networth stood at 21% while return on capital employed is 14%, both decent figures. The company’s market capitalisation is quoting at 3.18 times its operating profit.
During the 3rd quarter ended 31 March 2013, roughly 81% of the company’s net sales came from within India while the remaining were from outside. This was more or less the same recorded by the company for the corresponding quarter last year, which around 82% of the net sales were domestic.
Supreme Petrochem is one of India’s leading polystyrene manufacturers in the India, with a share of more than 50%. Currently, it trades at Rs63.65 on the Bombay Stock Exchange (BSE).
We had written about Supreme Petrochem earlier.
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