PVC Price Volatility Impact on Margins
PVC prices changed 14 times since July 2024, causing INR 150 crore inventory losses in FY25. Management cannot predict anti-dumping duty outcomes or PVC price direction, creating margin uncertainty.
SUPREMEIND / Q4-FY25 / risks
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Supreme Industries · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Government Infrastructure Spending Uncertainty
Jal Jeevan Mission spending was INR 22,000 crore last year vs budgeted INR 67,000 crore for FY26. Maharashtra government hasn't announced new piping orders. Delayed infrastructure spending directly impacts plastic piping demand recovery.
Industrial Segment Volume Decline
Industrial products segment declined 1% in volume and remained flat in value due to muted automotive/CV demand and absence of EVM orders (non-recurring FY24 business). Management expects limited recovery visibility.
Composite Cylinder Division Underperformance
Division operating at only 50% capacity utilization with IOCL orders not materializing as expected. IOCL is now planning a 1 million piece tender but timing remains uncertain. BPSL tender for 400,000 pieces offers partial offset.