Supreme Petrochem's domestic demand for Polystyrene and EPS (Expandable Polystyrene) remain subdued due to lockdown while demand for other products is negligible whereas exports of Polystyrene (PS) have recently picked up. 

 

The company is taking all steps to maintain its supply chain and meet the customers’ demand, though very subdued at present. With domestic sales at low levels, the company’s financials for first quarter of 2020-21 will be adversely affected. However, the demand for all the products of the company is expected to revive once the shut down restrictions are lifted and resumption of supply chain. The company believes that the pandemic has not altered the fundamentals of the business of the company nor its viability.

 

Supreme Petrochem plant situated at Amdoshi, Raigad-Maharashtra with two lines of PS are in operation and functioning at normal production capacity. SPC plant is operating at about 25% of the capacity. EPS and XPS plants are operated as and when orders are received.

 

Expandable Polystyrene plant at Manali, Tamil Nadu is operating at around 60% of its normal production capacity. All its administrative offices and depots remain shut and office staff continue to work from home.

 

The company’s CAPEX plan in FY2020-21 will take place once there is normalcy in ongoing COVID-19 distress situation. Certain ongoing projects of the company will be delayed due the said pandemic.