Financials The Supreme Industries Limited

Equities

SUPREMEIND

INE195A01028

Commodity Chemicals

Delayed NSE India S.E. Other stock markets 07:43:55 2024-06-12 am EDT			5-day change	1st Jan Change
6,161 ^INR	+0.09%		+11.46%	+35.61%

Jun. 04	Fire Breaks Out at Supreme Industries' Molding Plant in Chennai, India; Shares Fall 5%	MT
Jun. 04	The Supreme Industries Limited Announces Temporary Disruption in Production/Operations At Assembly Shop of the Moulding Plant,Chennai Due to Fire Occurrence	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	110,221	259,478	260,049	319,288	537,603	782,574	-	-
Enterprise Value (EV) ¹	112,224	252,007	254,840	311,828	525,730	769,958	763,846	759,947
P/E ratio	23.6 x	26.5 x	26.9 x	36.9 x	50.3 x	59.4 x	50.3 x	43.9 x
Yield	1.61%	1.08%	1.17%	1.03%	0.71%	0.55%	0.64%	0.7%
Capitalization / Revenue	2 x	4.08 x	3.35 x	3.47 x	5.3 x	6.49 x	5.61 x	4.93 x
EV / Revenue	2.04 x	3.96 x	3.28 x	3.39 x	5.19 x	6.39 x	5.47 x	4.79 x
EV / EBITDA	13 x	19.6 x	20.5 x	26 x	34 x	40.6 x	34.2 x	29.7 x
EV / FCF	38 x	24.7 x	5,818 x	66.9 x	60.9 x	159 x	73.9 x	55.2 x
FCF Yield	2.63%	4.05%	0.02%	1.49%	1.64%	0.63%	1.35%	1.81%
Price to Book	4.87 x	8.19 x	6.76 x	7.25 x	10.6 x	13.2 x	11.3 x	9.6 x
Nbr of stocks (in thousands)	127,027	127,027	127,027	127,027	127,027	127,027	-	-
Reference price ²	867.7	2,043	2,047	2,514	4,232	6,161	6,161	6,161
Announcement Date	5/22/20	5/3/21	4/29/22	4/28/23	4/26/24	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	55,115	63,571	77,728	92,016	101,343	120,551	139,562	158,630
EBITDA ¹	8,658	12,842	12,421	11,997	15,473	18,970	22,356	25,560
EBIT ¹	6,601	10,715	10,126	9,363	12,490	15,585	18,492	20,832
Operating Margin	11.98%	16.85%	13.03%	10.18%	12.32%	12.93%	13.25%	13.13%
Earnings before Tax (EBT) ¹	6,413	10,662	10,274	9,580	12,985	16,329	19,441	22,491
Net income ¹	4,674	9,781	9,684	8,653	10,697	13,097	15,498	17,686
Net margin	8.48%	15.39%	12.46%	9.4%	10.56%	10.86%	11.1%	11.15%
EPS ²	36.80	77.00	76.24	68.12	84.21	103.7	122.6	140.3
Free Cash Flow ¹	2,954	10,198	43.8	4,660	8,636	4,855	10,340	13,760
FCF margin	5.36%	16.04%	0.06%	5.06%	8.52%	4.03%	7.41%	8.67%
FCF Conversion (EBITDA)	34.12%	79.41%	0.35%	38.84%	55.81%	25.59%	46.25%	53.83%
FCF Conversion (Net income)	63.2%	104.26%	0.45%	53.85%	80.73%	37.07%	66.72%	77.8%
Dividend per Share ²	14.00	22.00	24.00	26.00	30.00	33.79	39.15	43.16
Announcement Date	5/22/20	5/3/21	4/29/22	4/28/23	4/26/24	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	24,287	19,451	25,571	22,060	20,921	23,107	25,983	23,686	23,087	24,491	30,079	27,435	25,819	29,447	35,483
EBITDA ¹	3,730	3,179	3,914	2,689	1,471	3,034	4,803	3,216	3,562	3,788	4,907	4,225	3,976	4,535	5,464
EBIT ¹	-	2,604	3,326	-	-	2,386	4,082	2,495	2,843	3,016	4,135	3,471	3,266	3,725	4,307
Operating Margin	-	13.39%	13.01%	-	-	10.33%	15.71%	10.54%	12.31%	12.31%	13.75%	12.65%	12.65%	12.65%	12.14%
Earnings before Tax (EBT) ¹	2,828	2,629	3,393	2,102	866	2,457	4,156	2,620	2,954	3,172	4,239	3,747	3,543	4,002	4,584
Net income ¹	2,155	2,457	3,239	2,138	820.2	2,100	3,594	2,155	2,432	2,562	3,548	2,810	2,657	3,001	3,359
Net margin	8.87%	12.63%	12.67%	9.69%	3.92%	9.09%	13.83%	9.1%	10.53%	10.46%	11.8%	10.24%	10.29%	10.19%	9.47%
EPS ²	-	19.34	25.50	16.84	6.460	16.53	28.30	16.97	19.14	20.17	27.93	22.10	20.90	23.60	26.40
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	10/28/20	1/24/22	4/29/22	7/25/22	10/31/22	1/24/23	4/28/23	7/28/23	10/30/23	1/19/24	4/26/24	-	-	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	2,002	-	-	-	-	-	-	-
Net Cash position ¹	-	7,471	5,210	7,461	11,873	12,617	18,729	22,627
Leverage (Debt/EBITDA)	0.2313 x	-	-	-	-	-	-	-
Free Cash Flow ¹	2,954	10,198	43.8	4,660	8,636	4,855	10,340	13,760
ROE (net income / shareholders' equity)	21.2%	36%	27.6%	21%	22.5%	23.6%	23.8%	23.4%
ROA (Net income/ Total Assets)	13.7%	24.8%	20.9%	16.2%	17.5%	15.6%	14.8%	14.6%
Assets ¹	34,239	39,505	46,391	53,450	61,250	83,955	104,713	121,138
Book Value Per Share ²	178.0	249.0	303.0	346.0	398.0	467.0	546.0	642.0
Cash Flow per Share ²	42.30	98.10	37.00	70.10	111.0	134.0	129.0	144.0
Capex ¹	2,417	2,266	4,699	4,243	5,493	9,046	6,838	6,845
Capex / Sales	4.38%	3.56%	6.05%	4.61%	5.42%	7.5%	4.9%	4.31%
Announcement Date	5/22/20	5/3/21	4/29/22	4/28/23	4/26/24	-	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for The Supreme Industries Limited

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

6,161 INR

Average target price

4,878 INR

Spread / Average Target

-20.82%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Plastics

	1st Jan change	Capi.
THE SUPREME INDUSTRIES LIMITED	+35.61%	9.35B
DOW INC.	+2.57%	39.49B
LG CHEM, LTD.	-25.55%	20.65B
FORMOSA PLASTICS CORPORATION	-23.11%	12.08B
COVESTRO AG	-0.95%	10.52B
FORMOSA CHEMICALS & FIBRE CORPORATION	-16.85%	9.4B
HANGZHOU FIRST APPLIED MATERIAL CO., LTD.	+2.22%	6.5B
YUNNAN ENERGY NEW MATERIAL CO., LTD.	-34.74%	4.96B
LOTTE CHEMICAL CORPORATION	-21.54%	3.69B
ORBIA ADVANCE CORPORATION, S.A.B. DE C.V.	-28.84%	2.81B

Plastics