Supreme Industries Ltd(SUPREMEIND)

NSE: SUPREMEINDBSE: 509930

₹ 3,255-5.65%refreshed 26 Oct, 03:50 pm ISTMarket cap: ₹ 41,347 crNext results: 26 Oct 2026Website: www.supreme.co.inUpdated: 24 Oct 2026

About

Supreme Industries Ltd is India's largest plastic products manufacturer, making plastic piping systems, packaging products, industrial components, and consumer products across four segments. In FY26 the company sold 753,907 MT of plastic goods and generated revenue of Rs 11,218 Cr. Plastic piping is the dominant segment at 69.3% of revenue, and the company grew piping volumes 14% in FY26 against a 9% industry contraction, pointing to substantial market share gains.^[1][2][3]

Business segments

Plastic Piping Products: 69.3% of revenue (Rs 7,775.84 Cr) in FY26, EBIT margin 10.3%. Share has grown 12.8 percentage points over FY2019 - FY26.^[3]
Packaging Products: 14.6% of revenue (Rs 1,642.27 Cr) in FY26, EBIT margin 11.3%.^[3]
Industrial Products: 11.4% of revenue (Rs 1,278.18 Cr) in FY26, EBIT margin 7.7%.^[3]
Consumer Products: 3.9% of revenue (Rs 437.09 Cr) in FY26, EBIT margin 17.5% - highest of the four segments.^[3]

Products and brands

Plastic piping portfolio spans 45+ piping systems including PVC, CPVC, HDPE, PP-R and specialty lines; 1 - 2 new systems planned for addition in FY27.^[1]
PP silent drainage pipe branded 'Serene' and 'Serene Plus', developed in technical collaboration with Poloplast GmbH of Austria, launched pan-India in October 2025.^[4]
Gas piping division supplies both PE pipe and electrofusion fittings for PNG networks; management states Supreme is the only supplier in India offering both.^[5]
uPVC Windows & Doors division launched at Kanpur Dehat (UP) with commercial marketing under way from March 2026; Rs 220 Cr invested and initial capacity of ~5,000 MT/year.^[5][1]
Composite cylinder division produces LPG and CNG composite cylinders; CNG Cascade Cylinders executed first order in H1 FY26 with repeat orders expected.^[4]

Manufacturing capacity and operations

Total installed capacity reached 1,242,965 MT as at March 31, 2026; plastic piping alone crossed 1,000,056 MT, surpassing the 1 million MT milestone.^[1]
Wavin acquisition (effective 1 August 2025) added three plants - Banmore, Thimapur and Neemrana - with ~70,000 MT annual piping capacity; fully integrated and running at 50 - 60% utilisation in Q1 FY27.^[4][5]
Renewable energy accounted for 29% of total energy consumption in FY25 - 26, up from 21.45% in FY25; RE presence exists at 33 of 35 plants.^[5][1]

Key operating numbers

FY26 sales volume: 753,907 MT, +12% YoY (vs 674,510 MT in FY25). Revenue growth was 7% YoY, with the gap reflecting PVC price deflation through much of the year.^[1]
Q1 FY27 sales volume: 157,536 MT, - 14% YoY (vs 183,793 MT in Q1 FY26), driven by channel destocking triggered by a steep fall in PVC prices in April 2026.^[5]
Value-added products (segments with OPM >17%) turnover: Rs 4,677 Cr in FY26 (+15% YoY), rising to 42% of net turnover from 39% in FY25.^[1]
Value-added products turnover in Q1 FY27: Rs 1,142 Cr, +22% YoY (vs Rs 933 Cr in Q1 FY26).^[5]
CPVC segment volume growth: 38% for FY26 and 30% for 9M FY26.^[1][6]
Piping segment EBIT margin in Q1 FY27: 11.4%, up from 8.8% in Q1 FY26; improvement attributed to disproportionate drop in low-margin plain agri-pipe volumes lifting blended mix.^[5]
Debtor days: 15 days in Q1 FY27.^[5]

Customers and distribution

Composite cylinder orders executing for BPCL (2 lakh 10 kg LPG cylinders) and IOCL (2.31 lakh LPG cylinders) as of Q2 FY26.^[4]
Gas piping orders received from 3 - 4 gas companies as of Q4 FY26; additional orders under negotiation.^[1]
Wavin integration absorbed 120 sales team members and 266 new distributors/dealers, and more than 180 Wavin customers have joined Supreme.^[4][6]
Overall exports: USD 26 million in FY26, covering all product lines except industrial components.^[5]

Expansion and capex

FY27 total capex plan: ~Rs 1,000 Cr, targeting ~110,000 MT of new capacity (100,000 MT piping, 10,000 MT material handling), taking total installed capacity toward ~1.35 million MT.^[1]
Four new greenfield plants are under development; partly operational by end-March 2027, fully operational within two additional years. Bihar and Jammu plants alone expected to contribute >50,000 MT combined capacity in approximately two years.^[1][5]
Long-term installed capacity target: 1.5 million MT by FY28 and 2 million MT over the longer term.^[1]
Packaging facility near JNPT (Mumbai): land acquired, documentation in process, targeting the export market; capex and capacity to be disclosed on land possession.^[1]
Windows & Doors: Rs 220 Cr invested at Kanpur Dehat (UP); revenue potential guided at Rs 300 - 350 Cr at normal utilisation.^[5]
Export revenue target: USD 150 million in 6 - 7 years from USD 26 million in FY26, with piping products as the primary vehicle and FTA markets (e.g. UK, now zero import duty) prioritised.^[5]

Recent developments

Wavin India acquisition completed effective 1 August 2025 on a slump sale basis, adding three plants (Banmore, Thimapur, Neemrana) and ~70,000 MT piping capacity; integration completed and normal production resumed from February 2026.^[4][1]
Company achieved debt-free status by March 31, 2026 with a cash surplus of Rs 648 Cr; cash surplus stood at Rs 542 Cr as at June 30, 2026 after Rs 500 Cr of capex commitments in Q1 FY27.^[1][5]
uPVC Windows & Doors division went into production at Kanpur Dehat effective March 1, 2026 and commenced marketing in Q1 FY27.^[1][5]
Gas piping business (pipe and electrofusion fittings for PNG) targeted at ~Rs 600 Cr revenue in FY27; orders already received and being supplied to gas companies as at Q1 FY27.^[5]
FY27 volume guidance maintained at 12 - 13% overall and 15 - 17% for plastic piping, despite Q1 FY27 volume de-growth of 14% caused by channel destocking; agri-pipe demand recovery expected from mid-September 2026.^[5]

Market Cap

₹41,347 Cr

High / Low

₹4,210 / 3,142

Stock P/E

42.5

Price / Book

7.1

Book Value

₹486

EPS

₹75.1

No. of Shares

12.7 Cr

ROCE

21.2%

ROE

16.1%

OPM

10.4%

Debt / Equity

0.00

Sales

₹11,218 Cr

Net Profit

₹954 Cr

Promoter holding

49.0%

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Supreme Industries Ltd(SUPREMEIND)

About

Business segments

Products and brands

Manufacturing capacity and operations

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

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