This BSE 500 stock has rallied 266% in the last 1.5 years!

With exports to more than 100 countries around the globe, the company has a strong foothold in the international markets.

Supreme Petrochem Ltd, a domestic company engaged in the business of Polystyrene, has turned into a multibagger by giving returns of 266% in the last 1.5 years! The stock price which was trading at Rs 188.05 on 10 Aug 2020, closed at Rs 689.25 yesterday. It has a 52-week high and low of Rs 820 and 362.05, respectively.

The company’s product portfolio comprises general-purpose polystyrene, speciality polystyrene, masterbatches, high impact polystyrene and compounds. The company owns and operates two state-of-the-art production facilities, the first facility is located at Amdoshi – Wangani village near Nagothane in District Raigad Maharashtra and the second in New Manali Town near Chennai in Tamil Nadu.

Talking about its future plans, the company has undertaken a project for the manufacture of Mass Acrylonitrile Butadiene Styrene (mABS) at the Amdoshi facility, with two Lines of 70 KIA each aggregating 140 KTA. Line I is scheduled to go on stream by June 2024 while Line II is expected to be completed by March 2025.

Moreover, it has inked an agreement with M/s Versalis-Eni Chemicals Group for License and Basic Engineering Design for Line I of 70 KTA. The project cost for both lines shall be provided from the company’s own funds.

Also, the company expects the commissioning of the 4th line of Polystyrene and expansion of Expandable Polystyrene at both plant locations to be done between March 2022 to June 2022.

At 2.42 pm, the share price of Supreme Petrochem Ltd was trading at Rs 680, a decline of 1.34% from the previous day’s closing price of Rs 689.25 on BSE.

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