Supreme Industries Q2 Results: Profit Jumps 59% to ₹262 Crore as Pipe Volumes Bounce Back

Supreme Industries Q2 results, announced on October 26, show a plastics maker getting back on its feet after a rough June quarter. Consolidated profit after tax came in at ₹262.44 crore for the September quarter, 59.3% higher than the ₹164.74 crore it earned a year ago, according to the company’s press release filed with NSE. Consolidated total income rose 39.9% to ₹3,369.96 crore from ₹2,409.41 crore.

So far, so good. But the Street was hoping for more on the bottom line.

Supreme Industries Q2 results against estimates

According to CNBC-TV18’s results liveblog, the ₹262 crore profit was below the channel’s poll estimate of ₹304 crore. Revenue, which CNBC-TV18 put at ₹3,361.3 crore, beat the poll figure of ₹3,224 crore. The poll had also pencilled in a 15% EBITDA margin; CNBC-TV18 reported 12.81%.

On the company’s own numbers, consolidated operating profit grew 47.5% to ₹460.61 crore from ₹312.27 crore. As a share of total income, that’s 13.67% against 12.96% a year back. Better, yes, but still thinner than the 14.69% the company managed for the whole of FY26. Consolidated earnings per share came in at ₹20.66, up from ₹12.97.

Volumes do the heavy lifting

The number we’d watch most closely is tonnage. On a standalone basis, Supreme sold 184,455 tonnes of plastic goods in Q2, up 19.44% from 154,431 tonnes a year ago. For the first half, though, volume growth was just 1.11%, which tells you how weak the June quarter was.

The piping business, its biggest, grew volumes by about 24% in Q2 but only about 2% across the first half, the company said. Value-added products brought in ₹1,476 crore of turnover in the quarter, up 38% from ₹1,072 crore.

Chairman and MD M. P. Taparia credited part of the recovery to calmer polymer prices after a volatile first quarter. He pointed to the minimum import price on suspension-grade PVC resin and the withdrawal of a customs duty exemption as steps that reduced the swings, while noting that the West Asia situation still affects polymer prices.

Dividend, cash and guidance

• Interim dividend: ₹12 per share of ₹2 face value (600%), with October 30, 2026 as the record date.
• Net cash surplus: ₹685 crore as of September 30, up from ₹648 crore on March 31.
• Full-year volume: the company expects about 10% volume growth for FY27, despite what it called a big decline in the first quarter.

Expansion continues. New plants are being built in Bihar and Jammu, along with a second site at Erode, another at Puducherry and one at Malanpur, and the company says internal accruals will fund them. It also flagged the integration of the former Wavin business, the early response to its uPVC windows and doors range, and better use of its composite LPG cylinder capacity now that all three oil marketing companies have started buying. Consumer products, it admitted, are still struggling for growth.

What it means

Here’s the tension. A 10% full-year volume target after a 1% first half means the second half has to be strong. By our maths on standalone tonnage, a 10% rise over FY26’s 753,907 tonnes needs about 487,000 tonnes in H2, roughly 17% more than the same half last year. If polymer prices stay calm and infrastructure and housing demand holds, that looks doable. The profit miss against estimates, though, suggests margins haven’t fully caught up with the volume recovery, and that’s the gap investors will be looking at in the coming quarters.

For other building-material results this season, see our take on Dalmia Bharat’s Q2 numbers and Kajaria Ceramics’ Q2, or read our guide on how to analyse quarterly results.

Sources: The Supreme Industries Limited Q2 FY27 press release (NSE filing, October 26, 2026); CNBC-TV18 Q2 results liveblog.

Disclaimer: This article is for information and education only and is not investment advice. Please consult a SEBI-registered adviser before making any investment decision.