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Supreme Industries Q4 Result Review: Dolat Capital Cuts Target Price On Mixed Earnings, Maintains 'Accumulate'
Dolat Capital maintains ‘Accumulate’ rating with a revised target price of Rs 3,927 based on 38 times consolidated FY27E EPS versus 37x (1-year Fwd) five year averages.
25 Apr 2025, 06:15 AM IST 
Supreme Industries has guided for 10–12% overall volume growth in FY26, with plastic pipe systems expected to grow at the same rate.
(Photo: Supreme Industries Pipes and fitting company website)
The plastic pipe business underperformed in FY25 due to subdued infrastructure spending by governments, erratic rainfall, and extreme volatility in PVC resin prices, which changed 14 times post-Jul’24. Despite these challenges, Supreme Industries delivered ~6% volume growth in its Plastic Pipe business in FY25, outperforming the ~6% degrowth in overall industry volumes. The industry size stood at 4.29 million metric tonne in FY25.
