1. Opening Hook
When India was busy comparing crackers vs climate, Taparia quietly dropped ₹869 crore on a piping company and called it “routine capex.”
Supreme’s Q2FY26 call felt like a calm physics lecture—except the professor just absorbed Wavin, launched silent pipes, window frames, and still gave a 550% dividend.
While crude prices danced like crypto, Taparia said, “We are anti-fragile, and debt is not our hobby.”
Read on — because this man treats ₹1,300 crore capex like grocery shopping.
2. At a Glance
- Revenue ₹4,951 Cr (H1) – Up 2%; pipes growing faster than management’s excitement.
- Volume 3.38 lakh MT – +8%; the real inflation is in tonnage.
- EBITDA ₹656 Cr – Down 15%; CFO blames “rain, resin, and reality.”
- PAT ₹367 Cr – Down 24%; the profit pipe leaked a bit.
- Cash Surplus ₹49 Cr – Down from ₹944 Cr; Taparia says “temporary.” Bankers say “😳.”
- Dividend 550% – ₹11 per share; proof optimism still flows better than PVC.
3. Management’s Key Commentary
Taparia: “We sold 3.38 lakh MT of plastic goods.”
(Translation: We just piped India’s GDP, again.)
Taparia: “Plastic piping grew 17% in volume, 11% in value.”
(Because plumbers are the new bull market.)
Taparia: “Wavin acquisition done, effective August 1.”
(He literally bought three factories like they were combo meals. 🍔)
Taparia: “Net cash surplus fell to ₹49 crore
