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Systematix Report
Supreme Industries Ltd.'s Q2 FY22 results were broadly in line with estimates (revenue/Ebitda/PAT up 40%/21%/31% YoY; 16.1% Ebitda margin).
Input cost pressure and inadequate price hikes continued to suppress gross margin. After a 7% volume decline in H1, Supreme Industries expects 3% growth in FY22 (vs. a 4% decline for the industry) led by CPVC pipes.
The likely firm PVC prices augur well for company's margins (built large inventory in Q2). It plans to add 50,000 tons capacity in FY22.
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