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Buy Supreme Industries; Target Of Rs 1725: Sharekhan

Sharekhan is bullish on Supreme Industries has recommended buy rating on the stock with a target price of Rs 1725 in its research report dated October 28, 2020.

Nov 2, 2020 / 03:07 PM IST
 
 
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Sharekhan's research repor on Supreme Industries


The company reported strong outperformance in revenues, OPM and net profitability in Q2FY2021. Cash surplus further improves. October till date continued to see y-o-y growth across all business verticals. The company remains optimistic on rural, tier III, tier IV economies along with demand generation from the affordable housing segment. SIL is one of the fastest to recover in post lock-down era in the building material space. The company will focus on appointing distributors, addition of products and deeper penetration.



Outlook


We retain Buy on Supreme Industries with a revised PT of Rs. 1725, revising our FY2021E-FY2023E earnings estimates upwards and considering strong net earnings growth over FY2021E-FY2023E.


For all recommendations report, click here


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first published: Nov 2, 2020 03:07 pm

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