Company Overview

Supreme Petrochem Limited (SPL) is a joint venture between The Supreme Industries Ltd. and the Rajan Raheja Group. The company has manufacturing locations at Amdoshi, Maharashtra (337 acres) and Manali New Town, Chennai (15 acres).

Manufacturing Capacities

  • Amdoshi Plant: Total installed capacity of 540,000 TPA comprising:
  • Polystyrene: 300,000 TPA (Technology: Huntsman Chemical Corp, USA through ABB Lummus Crest)
  • Expandable Polystyrene: 115,000 TPA
  • Specialty Compounds: 50,000 TPA
  • Extruded Polystyrene: 72,000 m³ PA
  • mABS: 70,000 TPA (Technology: Versalis, Italy)
  • Manali Plant: EPS with installed capacity of 33,000 TPA (Technology: Shinho Petrochemicals, Korea)
  • Subsidiary: Xmold Polymers Pvt Ltd at SIPCOT, Gummidi Poondi with 15,000 TPA capacity for engineering thermoplastic compounds

The company has set up a 12.5 MW solar power plant in joint venture with Tata Renewable Energy Ltd, reducing reliance on conventional energy sources by about 50%.

Business Overview

Product Portfolio

  • Polystyrene (GPPS and HIPS): 300,000 MTPA capacity - used in refrigerators, stationery, medical disposables, household items
  • Expandable Polystyrene (EPS): 115,000 TPA capacity - used in packaging, construction insulation, cold storages
  • Acrylonitrile Butadiene Styrene (ABS): 70,000 MTPA continuous mass plant commissioned in September 2025 - used in automotive, e-scooters, appliances
  • Specialty Polymers & Compounds: 50,000 MTPA capacity - used in appliances, automotive batteries, electrical accessories
  • Extruded Polystyrene (XPS): 72,000 m³ capacity - used in building insulation, refrigerated vehicles

Q2/H1-FY27 Operational Highlights

  • Total sales volume of manufactured products in Q2 FY27: 95,242 MT (up 24.0% YoY and 34.7% QoQ)
  • Total sales volume in H1 FY27: 166,085 MT (down 2.8% YoY due to lower export volumes)
  • Sales quantity includes transfer of PS and mABS: 7,049 MT in Q2 FY27 (1,849 MT in Q2 FY26) and 11,711 MT in H1 FY27 (4,354 MT in H1 FY26) to SPC for compounding and to XPS for insulation boards
  • Company faced challenges from duty-free imports of polymers allowed till July 15, 2026, putting pressure on local selling prices
  • Export volumes were lower due to increased ocean freight rates, long voyage time, price volatility and limited availability of styrene
  • New wide width XPS Insulation Board line with capacity of 150,000 M³ and compounding capacity expansion from 50,000 TPA to 80,000 TPA are in progress

Q2/H1-FY27 Financial Highlights

Q2 FY27 Standalone Performance (INR Mn)

  • Revenue from Operations: ₹19,567 (up 77.8% YoY from ₹11,002)
  • Operating EBITDA: ₹1,485 (up 91.4% YoY from ₹776)
  • Operating EBITDA Margins: 7.59% (54 bps improvement YoY)
  • Total EBITDA*: ₹1,599 (up 85.1% YoY from ₹864)
  • Total EBITDA Margins: 8.12% (33 bps improvement YoY)
  • PAT: ₹949 (up 96.9% YoY from ₹482)
  • PAT Margins: 4.85% (47 bps improvement YoY)
  • Diluted EPS: ₹5.05 (up 96.5% YoY from ₹2.57)

H1 FY27 Standalone Performance (INR Mn)

  • Revenue from Operations: ₹36,494 (up 46.8% YoY from ₹24,867)
  • Operating EBITDA: ₹4,791 (up 149.1% YoY from ₹1,923)
  • Operating EBITDA Margins: 13.13% (540 bps improvement YoY)
  • Total EBITDA*: ₹5,078 (up 134.9% YoY from ₹2,162)
  • Total EBITDA Margins: 13.81% (520 bps improvement YoY)
  • PAT: ₹3,313 (up 156.6% YoY from ₹1,291)
  • PAT Margins: 9.08% (389 bps improvement YoY)
  • Diluted EPS: ₹17.62 (up 156.5% YoY from ₹6.87)

*Total EBITDA includes other income and excludes exceptional items

Financial Position

SPL remains debt-free with investable surplus of ₹886 crores as of September 2026. All capital expenditure is being met from internal cash accruals.

Balance Sheet Highlights (INR Mn) - H1 FY27

  • Total Equity: ₹25,489
  • Share Capital: ₹376
  • Other Equity: ₹25,113
  • Non-Current Liabilities: ₹1,627
  • Current Liabilities: ₹13,422
  • Total Assets: ₹40,538
  • Non-Current Assets: ₹16,033
  • Current Assets: ₹24,505
  • Inventories: ₹9,171
  • Investments in Liquid Scheme of MF: ₹4,628
  • Trade Receivable: ₹5,914
  • Cash and cash equivalents: ₹1,743
  • Other bank balances: ₹2,626

Corporate Action

The Board has recommended an interim dividend of 125% (₹2.50 per equity share, face value ₹2).