SUPREMEIND Q1 FY26 earnings call.
A source-linked concall view: reported numbers, management language, guidance, commitments and risks that should carry forward.
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Revenue
₹2,609 Cr
verified against source
Revenue YoY
-1%
reported change
EBITDA
₹344 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
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What the record says.
Supreme Industries reported a mixed Q1 FY26 with 6% volume growth offset by 1% product value degrowth, resulting in revenue of ₹2,579 crore (-1% YoY). EBITDA fell 19% to ₹344 crore with margins compressing ~300bps to ~13.3% due to ₹50-60 crore inventory losses from PVC price volatility and delayed monsoon impacting agri-pipe demand. PAT declined 26% to ₹202 crore. Management raised plastic pipe volume guidance to 15-17% for FY26 (from 12-14%) citing favorable monsoon, housing demand revival, and channel destocking normalization. The Wavin acquisition (₹1,010 crore) is expected to close by July 31, adding ~30,000 tonnes capacity for remaining 8 months. Full-year EBITDA margin guidance maintained at 14.5-15.5%. CapEx outflow of ₹1,350 crore planned for FY26 including capacity expansion to 1 million tonnes. Key risks: anti-dumping duty announcement (expected Oct-Nov) and government funds flow challenges impacting JNM participation.
Colored figures show movement against the previous available record.
Guidance to track
- Raised from earlier 12-14% guidance; Q1 at 6% represents low base due to delayed monsoon and destocking; management confident of acceleration in H2 with new SKU launches and improved channel inventory
- Company-wide margin guidance maintained despite Q1 at ~12%; improvement expected from inventory loss cessation, higher value-added product mix, and operating leverage
- Acquisition closing July 31, 2025; 30,000 tonnes expected to be sold in remaining 8 months of FY26 at similar margins to existing business
- Includes Wavin acquisition (net), existing expansion commitments, and new initiatives; to be funded entirely from internal accruals
Risks flagged
- Final ADD recommendation from DGTR pending; expected announcement Oct-Nov 2025 after Ministry of Finance examination; timing uncertainty remains
- Government segment customers owe ₹304 crore, outstanding for 6+ months; no expected near-term resolution per management; impacts working capital and participation in government tenders
- Q1 volume growth of 6% vs 15-17% full-year guidance implies ~18-20% growth needed in H2; requires significant demand recovery and restocking acceleration
- Q1 inventory loss of ₹50-60 crore from finished goods and raw material price declines; management expects price stability going forward but oil-linked PVC remains volatile
Key quotes
- Last year, in the past, were destocking at a very severe level. Now because just never. So, it's going down to. So, I just the entire trade line empty. So, we don't we are very confident.
- We anticipate that our classic private business volume will grow between 15 to 17% this year, though it has grown 6% in first quarter.
- Due to the inventory loss in our stock of finished goods supply, and also in the raw material part we have committed in the world market, price has fallen, so we lost money. But now we can confirm, maybe $50.60 crores.
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