SUPREMEIND's Q2 FY27 numbers came in mixed, with revenue of Rs. 3,361.27 Cr (+40.41% YoY) and PAT growth of +59.31% YoY. Here's a quick read of what worked, what to watch, and what management said.
Quick Details| Results date | October 26, 2026 |
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| Quarter | Q2 FY 2026-2027 |
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| Revenue (Q2) | Rs. 3,361.27 Cr (+40.41% YoY) |
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| PAT (Q2) | Rs. 262.44 Cr (+59.31% YoY) |
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| EBITDA margin | 12.82% (+40 bps YoY) |
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| EPS (Q2) | Rs. 20.66 (+59.29% YoY) |
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| Market cap | Rs. 44,183.75 Cr |
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| CMP | Rs. 3,478.30 |
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Quarter Snapshot
Q2 FY27 delivered 40.41% revenue growth and 59.31% PAT growth with a debt-free, cash-rich balance sheet and 1.14× cash conversion, confirming the demand recovery management flagged after Q1's volume decline. However, the 12.82% ex-associate EBITDA margin (H1: 13.64%) sits below the FY27 guidance of 14–14.5%, requiring an implied H2 margin of 14.36–15.34%, and Packaging margins compressed to 9.47% from 12.09%. Volume disclosures are absent from the filing, leaving the +12–13% overall volume guidance untested until the earnings call.
Key Investment Insights
Key Positives
- Consolidated revenue grew 40.41% YoY to Rs.3,361.27 Cr and 23.68% QoQ
- Consolidated PAT grew 59.31% YoY to Rs.262.44 Cr; EPS Rs.20.66 vs Rs.12.97
- EBITDA margin ex-associate expanded 40 bps YoY to 12.82% (12.42% in Q2 FY26)
- Plastics Piping revenue +41.93% YoY with segment result +89.98% and margin +268 bps YoY to 10.60%
- Industrial Products result +112.63% YoY with margin 5.97% vs 4.18% a year ago
- H1 CFO of Rs.621.72 Cr (1.14× PAT) vs Rs.230.03 Cr in H1 FY26; FCF +Rs.313.60 Cr
- Debt-free balance sheet with cash of Rs.685.68 Cr, up from Rs.648.84 Cr at March despite Rs.317.57 Cr dividend and Rs.114.18 Cr inventory build
- Interim dividend of Rs.12/share (Rs.152.43 Cr) declared; finance costs fell 47.00% YoY to Rs.3.09 Cr
Risk Factors
- Q2 EBITDA margin of 12.82% ex-associate is below management's FY27 guidance of 14–14.5%; H1 at 13.64% implies H2 margin of 14.36–15.34% needed
- Packaging segment result fell 4.24% YoY with margin compressing to 9.47% from 12.09% in Q2 FY26
- Consumer Products result declined 5.59% YoY despite revenue growth of 1.91%
- Others segment loss widened to Rs.(6.80) Cr from Rs.0.06 Cr a year ago
- Materials ratio improvement to 67.59% may reflect priced inventory amid rising PVC prices (Rs.78→Rs.94/kg), with inventory gain/loss unquantified by management
- Effective tax rate rose ~307 bps QoQ to 23.69%, contributing to PAT falling 6.51% QoQ despite EBITDA growth