The petrochemicals company's net profit declined 17.47% to Rs 131.50 crore in Q4 FY24 as against Rs 159.33 crore recorded in Q4 FY23.
Net revenue from operations rose 12.69% year on year (YoY) to Rs 1,562.84 crore in the quarter ended 31 March 2024.Profit before tax stood at Rs 176.57 crore in fourth quarter of FY24, down 17.83% from Rs 214.88 crore reported in Q4 FY23.
For Q4 FY24, EBITDA stood at Rs 175.30 crore, registering a de-growth of 15.84% from Rs 208.30 crore reported in Q4 FY23.
EBITDA margin slipped to 11.22% in Q4 FY24 as compared to 15.02% recorded in the same quarter last year.
On a full year basis, the companys net profit tumbled by 30.44% to Rs 346.49 crore in FY24 over FY23. Revenue from operation declined marginally on YoY basis to Rs 5,253.34 crore in the financial year ended 31 March 2024.
Meanwhile, the board recommended a final dividend of Rs 7 per equity share for the financial year ended 31 March 2024, subject to approval of members. The record date for the same is 27 June 2024 and it will be paid on or after 24 July 2024.
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Further, the companys board approved re-appointment of N. Gopat as a manager for a period of two years effective from 16 April 2024 to 31 March 2026.
Supreme Petrochem (SPL) manufactures polystyrene, expandable polystyrene and extruded polystyrene. It has a polystyrene manufacturing plant at Nagothane in Raigad, Maharashtra. Apart from the primary business of polystyrene and expandable polystyrene production, SPL imports styrene monomer and trades in the domestic market.
The scrip rose 0.92% to trade at Rs 649.80 on the BSE.
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