Supreme Industries share price surges over 8% buoyed by Q4 result; is the stock buy-worthy? Here's what experts say

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Supreme Industries share price: Shares of Supreme Industries continued witnessing strong buying interest on Monday, April 29, as the stock jumped over 8 per cent in morning trade on BSE, buoyed by the company's healthy March quarter result. Supreme Industries share price opened at ₹4,430.55 against its previous close of ₹4402.30 and rose over 8 per cent to hit the day's high of ₹4,758.85 in Monday's trade so far. Around 11:30 am, Supreme Industries share price traded 7.88 per cent higher at ₹4,749 apiece.

Equity benchmark Sensex was 0.77 per cent up at 74,298 at that time. Till April 26 close, Supreme Industries share price share price has surged over 64 per cent over the last year. In comparison, equity benchmark Sensex has gained slightly over 22 per cent in the same period.

Also Read: IDFC First Bank share price falls over 5% after Q4 net profit dips on higher provisions. Time to buy? Supreme Industries, during market hours on Friday, April 26, reported a 38.51 per cent quarter-on-quarter (QoQ) rise but a 1.28 per cent year-on-year (YoY) fall in Q4FY24 consolidated net profit to ₹354.82 crore. Total consolidated income in Q4 rose nearly 22.52 per cent QoQ and 15.95 per cent YoY to ₹3,025.98 crore.

The operating profit of India’s leading plastics product manufacturing company rose 0.37 per cent year-on-year. "The company has a total cash surplus of ₹1,178 crores as on March 31, 2024, as against a cash surplus of ₹738 crores as on March 31, March 2023. The overall turnover of value-added products increased to ₹3,737 crore as compared to ₹3,329 crore in the previous year achieving growth of 13 per cent," said Supreme Industries.