Supreme Petrochem, which makes styrene monomer and polystyrene has been hitting new highs consistently for the past few days. Yesterday the new high was at Rs.406.95 and today’s new high was at Rs.447.20. Volumes today rose almost 10 times.

All this was in anticipation of very good numbers from the company for Q4Fy17 and it did not disappoint. Its net profit for the quarter was up by a healthy 29% (YoY) at Rs.70 crore on a 6% growth in net sales at Rs.860 crore.

EBITDA for the quarter was up 28% at Rs.112 crore and margins rose by a very good 210 bps to 11.7%. What helped apart from the rise in topline was the expenses – as a percentage of total income, it was down 89% from 91% in previous Q4 and that helped shore up the EBITDA.

The company ended FY17 with a net profit at Rs.179 crore, up 214% and this explains the reason for the consistent new highs. EPS for the year was at Rs.18.60 (FV of Rs.10).