Sharekhan's research report on Suprajit Engineering
SEL’s diversified, de-risked and innovation driven business model supports the growth momentum. Management guided for a 12%-14% EBITDA margin range for FY24. Stock trades at P/E multiple of 19.2 and EV/EBITDA multiple of 10.8x its FY25E estimates.
Outlook
We maintain our BUY rating on Suprajit Engineering Ltd (SEL) with a revised TP of Rs 439 on healthy traction in its automotive business, expectation of improvement in margins and consistent improvement in LDC business.
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