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This auto ancillary stock is worth adding to long-term portfolio

SEL’s diversification across products and clients, promising aftermarket and export potential, and attractive valuations make it worthy of investor consideration

August 31, 2021 / 10:18 AM IST
This auto ancillary stock is worth adding to long-term portfolio

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 Ltd. (SEL) (CMP: Rs 323, Mcap: Rs 4,470 crore), a manufacturer of automotive and non-automotive cables, reported an expected set of numbers for Q1 FY22 amid the challenges posed by the second wave of COVID-19. Sequentially, net revenues saw a significant decline and operating margin contracted due to a negative operating leverage. However, SEL’s diversification across products and clients, promising aftermarket and export potential, and attractive valuations (17.8 times FY23 projected earnings) make it worthy of investor consideration....

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