Supreme Industries is India’s leading plastic processor and a consistent performer with high return ratios. It is present in several categories with plastic piping products contribution to revenues being the highest (>60%). Normally, plastic consumption grows at 1.4 times GDP growth rate because of which Supreme has been consistently growing for the past several years. Fluctuation in raw material prices impacts profit margins. We have a neutral rating on the stock keeping in mind its present valuation and growth potential. The company’s near term performance had been exceptional due to strong rural demand for irrigation and housing as also one time inventory gains. Share of value added and new products has also been gradually improving – 04-05-21 Price: 2130.75 Rating Neutral Recommendation: Hold
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