Supreme Industries Limited, a prominent player in the Indian plastics industry, has revealed its grand expansion plans, aiming to significantly increase its production capacity by 2024. In a recent interview with CNBC-TV18, MP Taparia, Managing Director of Supreme Industries, outlined the company's ambitious goals.

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One of the major highlights of Supreme Industries' expansion strategy is to boost its manufacturing capacity. Taparia stated that the company is diligently working towards achieving a capacity close to 9 lakh tonne by March 2024. This substantial increase in capacity includes both organic and inorganic expansion initiatives.

“Our current capacity overall is 800,000 tonne. We have made a plan to expand the capacity further. With other ongoing investment programmes, we should be close to 900,000 tonne by March 2024,” he said.

Looking beyond the initial target, Supreme Industries has set its sights on achieving a capacity of 1 million tonne by December 2024.

“Overall the company has a plan to reach 1 million tonne by 2024 December,” he added.

This aggressive goal reflects the company's commitment to meeting the growing demand for its products while maintaining its position as a market leader.

In addition to its organic growth plans, Supreme Industries is also actively pursuing inorganic expansion opportunities. An additional capacity of 56,000 tonne is expected to be added through an upcoming acquisition. This strategic move not only helps in augmenting the company's production capabilities but also signifies Supreme Industries' intent to diversify its portfolio.

Supreme Industries Limited is known for its diverse product range, which includes industrial and engineering molded furniture products, storage and material handling crates, multi-layer sheets, multi-layer films, packaging films, expanded polyethylene foam, PVC pipes and fittings, molded furniture, sataranj mats, and disposable EPS containers. This broad product base has contributed to its significant presence in various sectors.

Moreover, Supreme Industries has recently earned recognition on a global scale— the company has been included in the MSCI Global Standard Index, effective from September 1, 2023, as announced during the MSCI's August review. This inclusion further underscores the company's prominence in the Indian market and its potential for international growth.

Supreme Industries has also recently entered into a Memorandum of Understanding (MoU) with Parvati Agro Plast, outlining their intention to purchase Parvati Agro Plast's PVC pipes division for a sum of Rs 235 crore.

For more details, watch the accompanying video

(Edited by : C H Unnikrishnan)