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Suprajit Engineering in fine shape amid tough times, prospects look better

Management sees global auto industry contracting in FY23 as well, but confident of SEL outperforming the industry by 5-10 percent. We advise investors to accumulate this stock for the long term

June 24, 2022 / 12:36 PM IST
Suprajit Engineering in fine shape amid tough times, prospects look better

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Suprajit Engineering (SEL; CMP: Rs 338.5; M Cap: Rs 4,690 crore), the maker of automotive and non-automotive cables, has reported a decent set of numbers in Q4FY22 on a sequential basis. Stable demand, coupled with cost-reduction efforts, helped the company better its operating margin, despite commodity-linked cost inflation. The company is India’s largest manufacturer of automotive cables. Its diversification across products and clients, promising aftermarket and export potential, coupled with attractive valuations (18.6 times FY24 projected earnings), make it worthy of...

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