Revenue and Profitability Trends
Over the seven-year period, Super Sales Ind.’s net sales demonstrated a mixed pattern. The company’s revenue peaked at ₹419.41 crores in March 2022, closely followed by ₹419.18 crores in March 2024. However, the latest fiscal year ending March 2025 saw a decline to ₹403.77 crores. Earlier years reflected lower sales, with ₹266.91 crores in March 2021 and a gradual increase from ₹295.51 crores in March 2019. This volatility suggests sensitivity to market conditions or operational challenges.
Operating profit margins (excluding other income) have mirrored this variability. The margin reached a high of 18.85% in March 2022 but contracted sharply to 5.73% by March 2025. Correspondingly, operating profit (PBDIT) excluding other income dropped from ₹79.04 crores in March 2022 to ₹23.14 crores in March 2025. The company’s gross profit margin also declined from 19.74% in March 2022 to 5.76% in the latest fiscal year, indicating rising costs or pricing pressures.
Profit after tax (PAT) figures further underscore the challenges faced recently. While PAT was robust at ₹48.16 crores in March 2022, it fell to a loss of ₹1.76 crores in March 2025. This reversal is reflected in the PAT margin, which slipped from a healthy 11.48% to a negative 0.44%. Earnings per share (EPS) followed a similar trajectory, peaking at 156.87 in March 2022 before turning negative to -5.73 in March 2025.
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Cost Structure and Expenditure
The company’s raw material costs have generally increased in line with sales, rising from ₹164.58 crores in March 2019 to ₹252.88 crores in March 2025. Other expenses also escalated, reaching ₹79.82 crores in the latest year from ₹53.42 crores in March 2019. Employee costs have risen steadily, reflecting possible expansion or inflationary pressures. Notably, the company reported no power or manufacturing expenses in recent years, which may indicate operational efficiencies or accounting classifications.
Interest expenses have fluctuated but remained significant, peaking at ₹8.55 crores in March 2025. Depreciation charges have steadily increased, reaching ₹24.99 crores, which may reflect asset additions or ageing infrastructure. These cost pressures have contributed to the narrowing profitability margins observed in recent years.
Balance Sheet and Asset Base
Super Sales Ind.’s total assets have expanded substantially, from ₹307.84 crores in March 2020 to ₹734.18 crores in March 2025. This growth is largely driven by increases in non-current investments, which surged from ₹52.82 crores in March 2020 to ₹366.98 crores in March 2025, indicating strategic capital allocation or diversification. Net block of fixed assets also rose steadily, reaching ₹163.57 crores in the latest year.
Shareholders’ funds have grown consistently, with reserves increasing from ₹184.98 crores in March 2020 to ₹561.85 crores in March 2025. The book value per share has more than doubled over five years, rising from ₹612.24 to ₹1839.23, signalling enhanced net worth despite recent profit setbacks.
On the liabilities side, total debt has remained relatively stable, hovering around ₹75-86 crores, with no long-term borrowings reported. Current liabilities have increased moderately, reflecting operational scale. Deferred tax assets have also grown, supporting the company’s tax position.
Cash Flow Analysis
Cash flow from operating activities has generally been positive, peaking at ₹64 crores in March 2023 but declining to ₹29 crores in March 2025. Investing activities consistently show cash outflows, reflecting ongoing capital expenditure and investments. Financing activities have been net outflows, indicating debt repayments or dividend payments. The net cash inflow/outflow has been volatile, with a slight negative position in the latest year.
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Summary and Outlook
In summary, Super Sales Ind. has experienced a period of growth in sales and asset base over the past several years, accompanied by rising reserves and book value per share. However, the company’s profitability has come under pressure recently, with declining margins and a return to net losses in the latest fiscal year. Cost increases, particularly in raw materials and other expenses, alongside higher depreciation and interest charges, have weighed on earnings.
While the balance sheet remains robust with no long-term debt and a strong equity base, the recent downturn in profit metrics suggests the need for strategic focus on cost control and operational efficiency. Investors should weigh these factors carefully, considering both the company’s historical growth and recent challenges when evaluating its future prospects.
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