Supreme Petro only-buyer on stellar results

Polystyrene maker Supreme Petrochem’s shares are locked in 20% upper circuit, both on NSE and BSE, at Rs. 114.40 per share, which is also the share’s new 52 week high priece. The counter remains an only-buyer, with outstanding buy orders of 2.28 lakh, at the upper circuit price, on both the exchanges put together.

Company, following June year end for financial reporting, posted excellent results thanks to fall in prices of key raw material styrene monomer. Net profit of Rs. 63 crore for Q4 ended 30-6-15, fared much better than Rs. 21 crore net profit for Q3FY15 and Rs. 7.7 crore net profit earned for Q4FY14. What’s more, Q4 operating profit of Rs. 86 crore exceeded full year FY15 operating profit of Rs. 73 crore, even as revenue rose at a steady pace – Q4 revenue stood at Rs. 679 crore while FY15 revenue came in at Rs. 2,653 crore.

On networth of Rs. 376 crore, company is debt-free with surplus cash of Rs. 33 crore, as of 30-6-15. It has declared dividend of Rs. 1.50 per share, while current market cap stands at little higher than Rs. 1,100 crore.