Plastic products maker Supreme Industries Limited (Supreme), while announcing its standalone and consolidated financial results for the quarter and half year ended September, 2022, said its board has also approved payment of interim dividend at 300%. 6/- per share and also fixed the record date for the same.
“We would like to inform you that the Board of Directors of the Company in its meeting held on Monday, 31st October, 2022 has, inter alia, approved the payment of Interim Dividend @ 300%. 6/- per share on the number of equity shares of Rs.12,70,26,870. 2/- each (face value),” the company informed in an exchange filing on Monday.
As notified on October 20, 2022, the company said it has fixed Wednesday, November 9, 2022, as the “record date” to ascertain shareholders’ eligibility for the payment. interim dividend,
“Plastic Pipe Systems business profit was badly hit due to the continuous fall in PVC resin prices in Q2 which started from April itself. The company is also supplying piping systems from various polymer materials other than PVC, This has resulted in a positive overall result. The results in this segment despite the steep fall in PVC prices. In such tough business conditions, the Company’s sustained volume growth in Q2 was quite encouraging,” said MP, Managing Director, The Supreme Industries Ltd. Taparia said in the earnings release.
Supreme Industries shares rise over 7% 2,180 on BSE in Monday’s trading session. The stock is down about 3% so far in 2022 (YTD or year-to-date).
Supreme Industries Limited is a leading Plastic Products Manufacturer, offering a wide range of Plastic Products in India. The company deals in various product categories viz. Plastic Piping Systems, Cross Laminated Films & Products, Protective Packaging Products, Industrial Molded Components, Molded Furniture, Storage & Material Handling Products, Performance Packaging Films and Composite LPG Cylinders. It has 26 manufacturing facilities across the country.
The company has a total cash surplus 493 crore as on 30th September, 2022 against a cash surplus of 518 crore till March 31, 2022.
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