Supreme Industries Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Supreme Industries Ltd filed with BSE on 03 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Supreme Industries reported Q1 FY27 revenue of Rs 2,718 crore, up 4% year-on-year, despite a 14% decline in sales volume to 1,57,536 tons, which management attributed to polymer price volatility and channel inventory correction. Standalone operating profit rose 25% to Rs 398 crore and profit after tax rose 17% to Rs 208 crore, with margin improvement driven by a lower share of low-margin plastic pipe volumes. Management reiterated full-year volume growth guidance of 15-17% for the piping division and an EBITDA margin range of 14-14.5% for FY27.
Numbers mentioned
Sales volume: 1,57,536 tons (Q1 FY27)
p. 3
“The company sold 1,57,536 tons of plastic goods and achieved revenue from operation of INR2,718 crores during the first quarter of the current year”
M.P. Taparia, page 3 of the filed PDF · View the filing
Revenue from operations: INR2,718 crores (Q1 FY27)
p. 3
“The company sold 1,57,536 tons of plastic goods and achieved revenue from operation of INR2,718 crores during the first quarter of the current year”
M.P. Taparia, page 3 of the filed PDF · View the filing
Volume de-growth: 14% (Q1 FY27 vs Q1 FY26)
p. 3
“resulting volume de-growth of around 14% and revenue growth of 4% respectively”
M.P. Taparia, page 3 of the filed PDF · View the filing
Standalone operating profit: INR398 crores (Q1 FY27)
p. 3
“The standalone operating profit and profit after tax during the period under review amounted to INR398 crores and INR208 crores as compared to INR319 crores and INR177 crores during corresponding quarter of the previous year, achieving increase of 25% and 17% respectively.”
M.P. Taparia, page 3 of the filed PDF · View the filing
Standalone profit after tax: INR208 crores (Q1 FY27)
p. 3
“The standalone operating profit and profit after tax during the period under review amounted to INR398 crores and INR208 crores as compared to INR319 crores and INR177 crores during corresponding quarter of the previous year, achieving increase of 25% and 17% respectively.”
M.P. Taparia, page 3 of the filed PDF · View the filing
Value-added products turnover: INR1142 crores (Q1 FY27)
p. 3
“The overall turnover of value-added products increased to INR1142 crores during the current quarter as compared to INR933 crores in the corresponding quarter of the previous year, achieving a growth of 22%.”
M.P. Taparia, page 3 of the filed PDF · View the filing
Committed capex: INR500 crores (Q1 FY27)
p. 7
“We've committed up till now INR500 crores.”
M.P. Taparia, page 7 of the filed PDF · View the filing
Composite cylinder capacity: 9 lakh to 10 lakh cylinders per annum
p. 12
“I am talking 9 lakh to 10 lakh cylinders per annum is the current capacity.”
P.C. Somani, page 12 of the filed PDF · View the filing
Composite cylinder utilization: 25% to 35%
p. 12
“Utilization all depends upon the domestic oil marketing companies. Currently it is between 25% to 35%.”
P.C. Somani, page 12 of the filed PDF · View the filing
Wavin capacity utilization: 50% to 60% (Q1 FY27)
p. 14
“About 50% to 60% capacity utilization has taken place in the first quarter.”
P.C. Somani, page 14 of the filed PDF · View the filing
Window and profile business investment: INR220 crores
p. 8
“We invested INR220 crores.”
M.P. Taparia, page 8 of the filed PDF · View the filing
Last year's exports: USD26 million (FY26)
p. 11
“Last year our export was USD26 million overall.”
M.P. Taparia, page 11 of the filed PDF · View the filing
PVC price increase: INR9 per kilo
p. 5
“PVC prices also gone up recently by INR9 a kilo.”
M.P. Taparia, page 5 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Piping division volume growth — 15% to 17% · FY27
stated firmly by M.P. Taparia
p. 5
“Volume growth we have told in the month of April only that we anticipate a volume growth of 15% to 17% in piping division and 12% to 13% overall for the company. We maintain the same volume growth guidance.”
M.P. Taparia, page 5 of the filed PDF · View the filing
Overall company volume growth — 12% to 13% · FY27
stated firmly by M.P. Taparia
p. 5
“Volume growth we have told in the month of April only that we anticipate a volume growth of 15% to 17% in piping division and 12% to 13% overall for the company. We maintain the same volume growth guidance.”
M.P. Taparia, page 5 of the filed PDF · View the filing
EBITDA margin — 14% to 14.5% · FY27
stated firmly by M.P. Taparia
p. 12
“We anticipate between 14% to 14.5% for the full year.”
M.P. Taparia, page 12 of the filed PDF · View the filing
Capex — INR1,000-odd crores · FY27
stated firmly by M.P. Taparia
p. 7
“We are maintaining, yes.”
M.P. Taparia, page 7 of the filed PDF · View the filing
Gas piping business revenue — around INR600 crores · FY27
stated as an aspiration by M.P. Taparia
p. 7
“As on today based on the inquiry and planned by so many gas companies, we build a gas piping business including pipe and fitting may be around INR600 crores this year.”
M.P. Taparia, page 7 of the filed PDF · View the filing
Window and profile business revenue — INR300 crores, INR350 crores · once at normal utilization
stated as an aspiration by P.C. Somani
p. 8
“So revenue generation of about INR300 crores, INR350 crores once it is normal utilization.”
P.C. Somani, page 8 of the filed PDF · View the filing
Exports — USD150 millions · six to seven years
stated as an aspiration by M.P. Taparia
p. 11
“We are aiming to reach USD150 millions in six to seven year from USD26 million.”
M.P. Taparia, page 11 of the filed PDF · View the filing
Bihar and Jammu plant capacity — more than 50,000 ton · after two years
stated as an aspiration by M.P. Taparia
p. 10
“So hopefully in after two year it may be more than 50,000 ton in both the plant together.”
M.P. Taparia, page 10 of the filed PDF · View the filing
H1 volume growth — H1 FY27
stated firmly by M.P. Taparia
p. 18
“First half, we are definitely confident that we will have growth.”
M.P. Taparia, page 18 of the filed PDF · View the filing
Agri demand recovery — from mid-September to March
stated conditionally by M.P. Taparia
p. 16
“From second half of September to March, demand will grow very nicely.”
M.P. Taparia, page 16 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management confirmed the 15-17% piping volume growth guidance applies to the whole year, not just the remaining months.
Answered by M.P. Taparia
Asked by Keshav Lahoti: What is the volume growth and margin guidance for this year, and does it apply to the full year or just the remaining nine months?
p. 5
“We are talking for the whole year.”
M.P. Taparia, page 5 of the filed PDF · View the filing
Management attributed the margin improvement to a lower share of low-margin pipe sales rather than inventory gains.
Answered by M.P. Taparia
Asked by Sneha: Was there any inventory gain contributing to the margin jump this quarter?
p. 6
“This quarter the profit has been higher because when we have such a big de-growth in demand, it was mostly in the agricultural piping segment where the margins are lower, only pipes.”
M.P. Taparia, page 6 of the filed PDF · View the filing
Management confirmed the guidance was being maintained.
Answered by M.P. Taparia
Asked by Shravan Shah: Is the company maintaining its EBITDA margin guidance of 14-14.5% for FY27?
p. 6
“We are maintaining. Thank you.”
M.P. Taparia, page 6 of the filed PDF · View the filing
Management said the guidance was conservative and not meant to overstate prospects, given low-margin pipe volumes will return through the year.
Answered by M.P. Taparia
Asked by Utkarsh Nopany: Why is the company guiding a lower EBITDA margin (14-14.5%) for FY27 compared to the higher range guided in prior periods despite already achieving 14.6% in Q1?
p. 15
“We don’t want to give unnecessary, very rosy picture. No, we don’t want to give.”
M.P. Taparia, page 15 of the filed PDF · View the filing
Management cited a large global market for plastic granules relative to current exports and said it plans to invest in expanding exports.
Answered by M.P. Taparia
Asked by Roshan: What export revenue opportunity is the company targeting given global trade volumes?
p. 18
“Overall, the world import trade of plastic granules alone -- just one item -- was $41 billion last year. Our company exported only $5 million.”
M.P. Taparia, page 18 of the filed PDF · View the filing
Management confirmed the volume guidance and cited around 70% capacity utilization.
Answered by P.C. Somani
Asked by Karan Bhatelia: Is the company maintaining its guidance of selling 50,000 metric tons via Wavin for FY27 with better profitability?
p. 19
“Yes. The quantum of volume that we have said is fine, with around 70% capacity utilization.”
P.C. Somani, page 19 of the filed PDF · View the filing
Management said there was no ongoing destocking and reiterated growth expectations for the current quarter and first half.
Answered by M.P. Taparia
Asked by Pratyush: Is the channel restocking/destocking pattern seen earlier still continuing?
p. 19
“When we told you that we will have growth in this quarter, there is no destocking taking place.”
M.P. Taparia, page 19 of the filed PDF · View the filing
Risks flagged
Extraordinary volatility in polymer prices led to inventory correction and temporarily affected industry demand
p. 4
“The first quarter of fiscal year '27 was impacted by extraordinary volatility in polymer prices, particularly during April 2026, resulted in inventory correction across the value chain and temporarily affected industry demand.”
M.P. Taparia, page 4 of the filed PDF · View the filing
Agri segment demand was affected by sharp price drops confusing farmers on purchase timing
p. 4
“Agri growth was definitely affected in April-June, as in April prices dropped so steeply that farmers were very puzzled when to start buying.”
M.P. Taparia, page 4 of the filed PDF · View the filing
Severe erosion in polythene pipe volumes during the quarter
p. 16
“Severe erosion in the volume in the polythene pipe was quite very heavy.”
M.P. Taparia, page 16 of the filed PDF · View the filing
Uncertainty over whether PVC price declines have fully stopped, with no restriction on further price increases
p. 18
“Not sure now. Nobody can stop them. They can go up also. The decline has stopped, but going up, there is no restriction.”
M.P. Taparia, page 18 of the filed PDF · View the filing
Uncertainty on whether the minimum import price mechanism will be extended beyond six months
p. 13
“Extension part you can only take from the Government of India.”
M.P. Taparia, page 13 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.