SPLPETRO · Chemicals
Supreme Petrochem Ltd. reported revenue of ₹1,506 cr for July to September 2024, +17.8% on the year and −4.3% on the quarter.
Operating profit (EBITDA) was ₹125 cr, a margin of 8.3%, +1 bps on the year and −194 bps on the quarter. Over the last 6 quarters the margin has ranged from 7.3% to 11.2%, averaging 8.9%. Operating costs grew +17.8%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹90.0 cr, +15.4% on the year and −26.2% on the quarter, with earnings per share of ₹4.80. Profit before other income, one-offs and tax grew 16.7%, so the profit growth came from the business itself. The tax rate of 26% is in line with its recent average.
Speciality chemicals are read on volumes and pricing, with Chinese supply a recurring swing factor; inventory destocking can hit a quarter without a change in demand. The quarterly statements do not carry volumes against prices, capacity utilisation and new molecules; those come with the filing read.
On earnings per share of ₹21.88 over the last four quarters, the stock at ₹675.10 trades at 30.9 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,278 cr | ₹1,188 cr | ₹1,563 cr | ₹1,573 cr | ₹1,506 cr | ₹1,405 cr | ₹1,539 cr | ₹1,387 cr | ₹1,100 cr | ₹1,265 cr | ₹1,587 cr | ₹1,693 cr |
| YoY | — | — | — | +28% | +18% | +18% | −2% | −12% | −27% | −10% | +3% | +22% |
| EBITDA margin | 8.3% | 8.0% | 11.2% | 10.2% | 8.3% | 7.0% | 9.4% | 8.3% | 7.1% | 5.5% | 15.9% | 19.6% |
| Other income, % of PBT | 15% | 17% | 11% | 14% | 14% | 18% | 13% | 14% | 14% | 5% | 3% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 27% | 26% | 26% | 26% | 26% | 25% | 25% | 26% | 25% | 27% | 25% |
| Net profit | ₹78.0 cr | ₹68.0 cr | ₹132 cr | ₹122 cr | ₹90.0 cr | ₹71.0 cr | ₹107 cr | ₹81.0 cr | ₹48.0 cr | ₹30.0 cr | ₹168 cr | ₹236 cr |
| YoY | — | — | — | +77% | +15% | +4% | −19% | −34% | −47% | −58% | +57% | +191% |
| Core profit YoY | — | — | — | +86% | +17% | +4% | −22% | −33% | −47% | −52% | +78% | +219% |
| EPS | ₹4.15 | ₹3.60 | ₹6.99 | ₹6.49 | ₹4.80 | ₹3.79 | ₹5.68 | ₹4.30 | ₹2.56 | ₹1.60 | ₹8.94 | ₹12.57 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Supreme Petrochem Ltd. reported revenue of ₹1,506 cr (+17.8% on the year) and net profit of ₹90.0 cr (+15.4% on the year) for July to September 2024.
Profit before other income, exceptional items and tax moved +16.7% on the year, against +15.4% for reported profit.
None of the 7 checks that could run raised a question.
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