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:: UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2011 ::
( In lacs)
Sr. No. Particulars 3 months
ended
31/12/2011 		Previous 3 months ended
30/09/2011		 Corresponding 3 months ended in the previous year
31/12/2010		 Year to Date figures for current Period ended
31/12/2011		 Year to Date figures for the previous year ended
31/12/2010		 Previous accounting year ended
30/06/2011
    Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 a) Net Sales 49,534.35 54,326.91 45,186.06 103,861.26 90,632.37 192,815.75
  b) Other Operating Income 418.32 411.38 484.12 829.70 761.67 1,533.73
  Total 49,952.67 54,738.29 45,670.18 104,690.96 91,394.04 194,349.48
2 Expenditure:
            
  a) Increase/decrease in stock in trade and work in progress 1,158.60 132.68 (169.02) 1,291.28 1,085.28 (3,663.29)
  b) Consumption of raw materials 30,621.23 32,814.99 28,196.00 63,436.22 53,842.46 118,842.56
  c) Purchase of traded goods 14,991.37 15,171.59 11,406.01 30,162.96 23,761.97 51,220.50
  d) Employees' cost 548.10 593.14 546.93 1,141.24 932.87 2,191.87
  e) Other Expenditure 2,756.68 2,822.47 2,072.83 5,579.15 4,700.22 9,907.03
  f) Total 50,075.98 51,534.87 42,052.75 101,610.85 84,322.80 178,498.67
3 Profit from Operations before Depreciation, Amortisation Other Income, Interest and Exceptional Items (1-2) (123.31) 3,203.42 3,617.43 3,080.11 7,071.24 15,850.81
4 Depreciation & Amortisation 522.63 520.89 514.17 1,043.52 1,024.13 2,037.01
5 Profit from Operations before Other Income, Interest and Exceptional Items (3-4) (645.94) 2,682.53 3,103.26 2,036.59 6,047.11 13,813.80
6 Other Income 86.51 82.84 61.43 169.35 176.79 411.36
7 Profit before Interest and Exceptional Items (5+6) (559.43) 2,765.37 3,164.69 2,205.94 6,223.90 14,225.16
8 Interest 539.98 439.74 342.68 979.72 752.29 1,380.18
9 Profit after Interest but before Exceptional Items (7-8) (1,099.41) 2,325.63 2,822.01 1,226.22 5,471.61 12,844.98
10 Exceptional items - - - - - -
11 Profit (+)/ Loss (-) from Ordinary Activities before tax (9+10) (1,099.41) 2,325.63 2,822.01 1,226.22 5,471.61 12,844.98
12 Tax expense (refer note no.6) (373.79) 740.00 928.69 366.21 1,774.50 4,074.69
13 Net Profit (+)/ Loss (-) from Ordinary Activities after tax (11-12) (725.62) 1,585.63 1,893.32 860.01 3,697.11 8,770.29
14 Extraordinary Item (net of tax expense ` Nil) 0.14 0.08 25.45 0.22 2.64 1.22
15 Net Profit(+)/ Loss(-) for the period (13-14) (725.76) 1,585.55 1,867.87 859.79 3,694.47 8,769.07
16 Paid-up equity share capital (Face Value of the Share `10/- each) 9,683.86 9,683.86 9,683.86 9,683.86 9,683.86 9,683.86
17 Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year - - - - - 19,584.55
18 Earnings Per Share (EPS)            
  a) Basic EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) (0.75) 1.64 1.96 0.89 3.82 9.06
  Diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) (0.75) 1.64 1.88 0.89 3.67 8.87
  Cash EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) (0.21) 2.18 2.49 1.97 4.88 11.16
  b) Basic EPS after Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) (0.75) 1.64 1.96 0.89 3.82 9.06
  Diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) 0.75 1.64 1.88 0.89 3.67 8.87
  Cash EPS after Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) (0.21) 2.18 2.46 1.97 4.87 11.16
19 Public Shareholding            
  a) No. of shares 38126613 38126613 38122913 38126613 38122913 38126613
  b) Percentage of shareholding 39.37% 39.37% 39.37% 39.37% 39.37% 39.37%
20 Promoters and promoter groupShareholding            
  a) Pledged/Encumbered            
  Number of shares - - - - - -
  Percentage of shares (as a % of the total shareholding of promoter and promoter group) - - - - - -
  Percentage of shares (as a% of the total share capital of the company) - - - - - -
  b) Non-encumbered            
  Number of Shares 58712000 58712000 58715700 58712000 58715700 58712000
  Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100% 100% 100% 100% 100% 100%
  Percentage of shares (as a% of the total share capital of the Company) 60.63% 60.63% 60.63% 60.63% 60.63% 60.63%
 

Notes

  1. STATEMENT OF ASSETS AND LIABILITIES:
        ( In lacs)
    Particulars 6 Months Ended 31/12/2011 6 Months Ended 31/12/2010
    SHAREHOLDERS' FUNDS
    		    
    (a) Capital
    		 9683.86 9683.86
    (b) Reserves and Surplus
    		 20444.32 17661.37
         
    LOAN FUNDS
    		 19089.82 15362.08
    DEFERRED TAX LIABILITY 4096.64 4229.07
    TOTAL 53314.64 46936.38
         
    FIXED ASSETS (NET)
    		 37687.62 30531.63
    INVESTMENTS
    		    
    Long Term 2.84 17.66
    Liquid Mutual Fund Schemes 8706.57 1958.54
    FOREIGN CURRENCY MONETARY ITEM TRANSLATION DIFFERENCE 3.98 -0.16
    CURRENT ASSETS, LOANS AND ADVANCES    
    (a) Inventories 23950.15 22461.85
    (b) Sundry Debtors 24860.65 21528.94
    (c) Cash and Bank Balances 2836.26 2464.45
    (d) Other Current Assets 0.00 0.00
    (e) Loans and Advances
    		 9660.06 9888.02
    LESS: CURRENT LIABILITIES AND PROVISIONS
    		    
    (a) Liabilities
    		 54208.52 41042.73
    (b) Provisions 184.97 871.82
    MISCELLANEOUS EXPENDITURE TO THE EXTENT NOT AMORTISED - -
    PROFIT AND LOSS ACCOUNT
    		 - -
    TOTAL
    		 53314.64 46936.38

  2. Styrenics is the primary business segment of the Company. The secondary segment (Geographical) is as under:
                ( In lacs)
    Particulars 3 Months ended on 31/12/2011 Previous 3 months ended 30/09/2011 Corresponding 3 Months ended in the Previous Year 31/12/2010 Half Year ended on 31/12/2011 Corresponding Half Year ended in the Previous Year 31/12/2010 Previous Accounting Year ended on 30/06/2011
    (a) Net Sales(Including Other operating Income):            
    Within India 37912.19 42857.25 34942.64 80769.44 70605.78 149629.42
    Outside India 12040.48 11881.04 10727.54 23921.52 20788.26 44720.06
      49952.67 54738.29 45670.18 104690.96 91394.04 194349.48
    (b) All the Assets of the Company are within India except these Debtors 3037.49 3025.05 1296.30 3037.49 1296.30 4987.64

  3. Trial runs of the EPS (including Cup Grade EPS) plant are encouraging. Commercial production is expected to commence in February 2012.
  4. A combination of high input costs, shrinking of the Domestic Polystyrene market due to low demand for end products and the sluggish export market consequent to economic slowdown and political unrest alongwith volatile foreign exchange rates, lowered sales quantities by 11.65% compared to the corresponding quarter in the previous year, squeezed margins and had an overall adverse impact on the Company's quarterly performance.
  5. The Management forsees improvement in the market conditions in the second half of the Company's financial year.
  6. Tax expenses include current tax, deferred tax and credit of excess tax provision in the previous quarter.
  7. Adopting the Accounting Standard (AS-11) as amended vide notification dated March 31, 2009 for accounting foreign currency long term loans liability, Foreign exchange difference of 4.72 lacs is debited to "Foreign Currency Monetary Item Translation Difference Account" and after amortising 6.39 lacs during the Quarter the remaining amount to be amortised over the period of the loans or by March 31, 2012, whichever is earlier is 3.98 lacs.
  8. Investor complaints during the quarter:
    Opening Balance : 2; Received during the quarter : 31 ; Pending as on 31.12.2011: NIL
  9. The Statutory Auditors of the Company have conducted a 'Limited Review' of the Financial Results for the quarter ended December 31, 2011.
  10. Figures of the previous year/ period are regrouped where necessary.
  11. This statement was taken on record by the Board of Directors at the meeting held on January 24, 2012.
Place : Mumbai
 Date : January 24, 2012
  
For SUPREME PETROCHEM LTD
M. P. TAPARIA
CHAIRMAN

STATEMENT SHOWING SHAREHOLDING PATTERN IN CLAUSE-35 OF SUPREME PETROCHEM LTD
FOR THE QUARTER ENDED AS ON 31/12/2011
SCRIP CODE: 500405

  Total Shareholding As a % Of Total No. Of Shares Shares Pledge Or Otherwise Encumbered
Category Code  Category of Shareholder No. Of
shareholders		 Total
No. Of shares		 No. Of shares held in Dematerialized Form As a Percentage of (A+B) As a Percentage of (A+B+C) No. Of Shares As a Percentage
(I) (II) (III) (IV) (V)
(VI)
(VII)
 (VIII) (IX)=(VIII)/(IV)*100
A
 PROMOTER AND PROMOTER GROUP
 
 1. Indian
a. Individual / HUF 0 0 0 0.00 0.00 0 0.00
b. Central Government / State Government(s) 0 0 0 0.00 0.00 0 0.00
c. Bodies Corporate 5 58712000 58712000 60.63 60.63 0 0.00
d. Financial Institutions / Banks 0 0 0 0.00 0.00 0 0.00
e. Others 0 0 0 0.00 0.00 0 0.00
Sub-Total A(1) :
 5 58712000 58712000 60.63 60.63 0 0.00
 
 2. FOREIGN
a. Individuals (NRIs / Foreign Individuals) 0 0 0 0.00 0.00 0 0.00
b. Bodies Corporate 0 0 0 0.00 0.00 0 0.00
c. Institutions 0 0 0 0.00 0.00 0 0.00
d. Others 0 0 0 0.00 0.00 0 0.00
Sub-Total A(2) :
 0 0 0 0.00 0.00 0 0.00
               
Total A=A(1)+A(2)
 5 58712000 58712000 60.63 60.63 0 0.00
B
 PUBLIC SHAREHOLDING              
 
 1. INSTITUTIONS
a. Mutual Funds / UTI 11 56483 0 0.06 0.06    
b. Financial Institutions / Banks 8 25750 2900 0.03 0.03    
c. Central Government / State Government(s) 0 0 0 0.00 0.00    
d. Venture Capital Funds 0 0 0 0.00 0.00    
e. Insurance Companies 0 0 0 0.00 0.00    
f. Foreign Institutional Investors 7 160872 148072 0.17 0.17    
g. Foreign Venture Capital Investors 0 0 0 0.00 0.00    
h. Others 0 0 0 0.00 0.00    
Sub-Total B(1) :
 26 243105 150972 0.25 0.25    
 
 2. NON-INSTITUTIONS
a. Bodies Corporate 656 7625572 7496553 7.87 7.87    
b. Individuals              
  i. Individuals holding nominal share capital upto Rs.1 lakh 52796 15557798 11544289 16.07 16.07    
  ii. Individuals holding nominal share capital in excess of Rs.1 lakh 265 12770286 12546586 13.19 13.19    
c. Others              
  FOREIGN BODIES 1 16867 16867 0.02 0.02    
  NON RESIDENT INDIANS 3738 1848647 1154747 1.91 1.91    
  CLEARING MEMBERS 29 23255 23255 0.02 0.02    
  TRUSTS 4 41083 41083 0.04 0.04    
Sub-Total B(2) :
 57489 37883508 32823380 39.12 39.12    
Total B=B(1)+B(2) :
 57515 38126613 32974352 39.37 39.37    
Total (A+B) :
 57520 96838613 91686352 100.00 100.00    
               
C
 Shares held by custodians, against which Depository Receipts have been issued              
1.
 Promoter and Promoter Group              
2.
 Public 0 0 0 0.00 0.00    
GRAND TOTAL (A+B+C) :
 57520 96838613 91686352 100.00 0.00 0

0.00

 

Chairman's Speech  

Ladies and Gentlemen,

I have great pleasure in welcoming you to the Twenty Second Annual General Meeting of your Company. The Annual Accounts and the Directors' Report for the year ended June 30, 2011 have been with you for sometime now, and I hope you have been able to get a clear idea of your Company's working during the year under review.

Your Company's financial performance in the last year has been the best so far with operating profits at 162.62 crs and net profit after tax at 87.69 crs an increase by 27.9% and 45% over the previous years. Your Directors have recommended a higher dividend of 2.80 per equity shares for 2010-11 against `1.80 per equity share paid on 2009-10. The total dividend payout including corporate dividend tax will be 31.51 crs against 20.33 crs in the previous year.

Despite the efforts being made by the developed world, global economic concerns are far from over. The economic uncertainty in Europe, slow progress in the U.S. economic recovery and the political turmoil in Middle East continue to remain a cause for global concern. Tight monetary policy measures by the Reserve Bank of India to rein in inflation have not only increased interest rates but also tightened liquidity in the system. These may have a restrictive effect on GDP growth for 2011-12. The Indian economy however, is likely to grow at about 8% due to its large domestic market.

The excellent monsoon in most parts of the country may see a healthy growth in demand in particular from rural India and tier II and tier III cities in India for white goods, appliances and household goods. This will help increasing demand for your Company's products in the domestic market. The outlook for the current year for Polystyrene demand is positive in the domestic market subject of course to no external events adversely affecting the Indian economy.

Styrene Monomer prices are likely to remain high due to high crude oil prices, weakening of rupee and plant problems facing the neighbouring suppliers. The high prices of Styrene Monomer coupled with tight liquidity may put margins under pressure.

The project for setting up Expandable Polystyrene (EPS) plant including Cup Grade EPS with installed capacity of 44400 TPA at the existing plant site at Maharashtra is mechanically complete. Product trials are underway and the response is favourable. Commercial production is likely by end November 2011 and 25% of Cup Grade EPS production will be supplied to M/s. Nova, the technical knowhow supplier, under a buy-back arrangement.

EPS has a great potential in the construction industry particularly in green buildings. Efforts are being made by your Company to increase application of EPS in the construction industry not only for insulation but also as a substitute for bricks or cement blocks by use of EPS filled light weight concrete. Exterior Insulation and Finish Systems made from EPS provide insulation, weatherproofing, finished surface in a single integrated product. EPS can also be used for the interior of homes as a substitute for POP.

The installed capacity of Speciality Polymers and Compounds (SPC) was increased to 30000 TPA from 25000 TPA during the year 2010-11. The last of the four new lines increasing the total SPC capacity to 33500 TPA is under installation. The Company plans to increase the capacity to 43800 TPA by installation of two more lines synchronising with demand. Your Company is aggressively seeking market share in Speciality Polymers and Compounds segment and aims to increase its market share to 20,000 TPA i.e. an increase of 50% over the previous year.

Extruded Polystyrene Insulation Board (XPS) demand is slowly growing. The Company has received positive feedback from the market. Your Company has carried out various roadshows for the architects, building contractors, water proofing firms and builders to make them aware of the benefits of this product. A network of dealers is now being created for marketing the product on pan India basis to cater to individual customers/small builders. Your Company is confident that with increased awareness and reach the demand will grow at a faster pace in the coming years. We expect the market will grow 100% compared to previous year. Even with this kind of growth our capacity utilisation will be only 10%.

Your Company's sales volume including exports of manufactured products grew by 14% during the year under review and is estimated to grow over 20% during the current year.

Your Company's focus on increasing share of value added products continues. During the year under, review share of value added products in the total revenues from the manufacturing activities was 21%. With most of the capex programmes planned for the period 2010-2012 completing this year, your Company expects share of value added products to increase to 30% by the year 2012-13.

The trial runs of gas power plant at Nagothane unit with capacity of 4000 KVA was successfully carried out. Regular generation of power, however, has not yet commenced pending final consent to operate from Government of Maharashtra. This power plant when operational will meet 60% of your Company's power requirements at its Nagothane plant. Plant when fully operational after installation of equipment for heat recovery for steam generation and absorption refrigeration to utilize steam will result in savings of 2.50 per unit of power resulting in an estimated annual saving in power bill of over 6.0 crs.

The revamp of the existing Polystyrene plant to increase capacity of premium value added grades by 50000 TPA within the same overall capacity is progressing satisfactorily and it is expected to be completed in phases by June 2012.

A total of 171 acres of land is to be acquired for the minor port of your Company. For various reasons in the past land acquisition has not been progressing at the required pace. Your Company has till date purchased/ entered into an understanding with the land owners for purchase of 94 acres of land. Barring unforeseen circumstances your Company hopes to acquire the balance land by March 2012.

To meet a part of the capital expenditure and to augment long term working capital funding requirements your Company proposes to seek your approval for an enabling resolution to borrow upto 100 cores during the current year.

I, on behalf of the Board of Directors sincerely thank you for your sustained encouragement, faith and support. I also thank our customers, bankers and suppliers for their continued trust and cooperation. I also convey my appreciation to executives, staff and workmen for the unstinted support extended by them.

Thank you.

M.P. TAPARIA
Chairman.

Date : September 21, 2011

This does not purport to be a record of the proceedings of the Annual General Meeting.


ANNUAL REPORTS  

  Supreme Petrochem Ltd Supreme Petrochem Ltd.
Industrial Park Limited		 Supreme Petrochem Ltd.
Industrial Support Services Limited
2010 - 2011 - -
2009 - 2010 2009-2010 2009-2010
2008 - 2009 - -
2007 - 2008 - -
2006 - 2007 - -

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