Supreme Industries recommends final dividend of 1000%, Q4 PAT rises 11%, operating profit saw a robust growth

Supreme Industries is a large cap company that recorded a market cap of ₹34,535.43 Cr during today's closing session. The stock ended on a green note today up by 2.55% as it declares 1000% dividend and robust growth in its operating profit.

The company said today in a stock exchange filing that the Board of Directors have “Recommended a Final Dividend@ 1000 % i.e. Rs.20 /- (Rupees Twenty only) per Share of ₹2/- each (F.V.) on 127026870 Nos. of Equity Shares for the financial year ended 31 st March, 2023.”

“The 81st Annual General Meeting of the Members of the Company is scheduled to be held on Wednesday, 28th June, 2023 at 4.00 p.m. Register of Members and the Share Transfer Books of the Company will remain closed from Thursday the 22nd June, 2023 to Wednesday the 28th June, 2023 (both days inclusive), for the purpose of Annual General Meeting and Dividend. The Dividend as recommended by the Board, if approved at the 81st Annual General Meeting, will be paid on or after 7th July, 2023. The Dividend when sanctioned will be payable to those Equity Shareholders, whose names stands on the Register of Members on the close of 28th June, 2023. However, in respect of Shares held in the electronic form, the Dividend will be payable, to the beneficial owners of the said Shares as at close of Wednesday, 21st June, 2023 (Record Date), as per details furnished by Depositories,” said the Board of Supreme Industries in a stock exchange filing.

On a consolidated basis, the company recorded a net income of ₹2609.71 Cr during the quarter ended March 2023, up by 1.72% YoY from ₹2565.69 Cr in the quarter ended March 2022. Supreme Industries said its operating profit saw robust growth of 14.83% YoY from ₹461.04 Cr during Q4FY22 to ₹529.39 Cr during Q4FY23. The company’s profit before tax (PBT) stood at ₹464.66 Cr during the quarter under review, up by 13.63% YoY from ₹408.94 Cr during the year-ago quarter. 

Supreme Industries said its consolidated net profit reached ₹359.43 Cr during Q4FY23, up by 10.98% YoY from ₹323.86 Cr during Q4FY22 and its EPS grew from ₹25.50 to ₹28.30, representing a YoY gain of 10.98%. The total value-added product turnover grew to Rs. 3329 crores from Rs. 2911 crores the year before, representing a 14% rise. As of March 31st 2023, the company reported a total cash surplus of Rs. 738 crores compared to Rs. 518 crores in the same period of 2022.

Supreme Industries said it plans to commit capex of around Rs. 750 Crores during the year including carry forward commitments of Rs.153 Crs at the beginning of the year. The capex is planned to expand capacities and introduce new range of products across all its segments. The capex plan also includes setting up plant at Malanpur near Gwalior. Entire Capex shall be funded from internal accruals. 

The shares of Supreme Industries closed today on the NSE at ₹2,714.55 apiece, up by 2.55% from the previous close of ₹2,647.10.