Sansera Engineering hits 52-week high on strong Q1 results

Sansera engineering witnessed a 31.1 percent rise in net profit from 34 crores to 44.7 crores on year-on-year (YoY) basis

Shares of Sansera Engineering jumped nearly 4 percent in early trade on August 2, to hit a new 52-weeks high of Rs 998.20 apiece post robust Q1 numbers.

At 10:50 am, the stock was trading 3.10 percent higher at Rs 980 on the NSE.

Quarterly net profit rose 31.1 percent year-on-year (YoY) to Rs 44.7 crore. Revenue from operations jumped 24 percent to Rs 660 crore YoY. EBITDA was up 24.9 percent to Rs 114.3 crore YoY, and operating margins were flat at 17.3 percent.

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Brokerage Views

Brokerage firm Nomura has a ‘buy’ rating on the stock with a target price of Rs 995 per share. The results of the auto ancillary company were in-line with estimates as per the brokerage firm. The total order book stood at Rs 1,690 crore with healthy global orders. Ramping up in aerospace and domestic defence sector is expected to drive revenue growth in FY24/25.

Stock Performance

Sansera Engineering stock has given a return of 35.46 percent over the last six months. The stock has hence outperformed the Nifty50 benchmark index by a considerable margin. As the benchmark Nifty50 index has given a return of 11.17 percent over the same duration.

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