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Buy Supreme Industries; target of Rs 3000: Sharekhan

Sharekhan is bullish on Supreme Industries has recommended buy rating on the stock with a target price of Rs 3000 in its research report dated March 21, 2023.

March 22, 2023 / 01:23 PM IST
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Sharekhan's research report on Supreme Industries

Prices of PVC have risen by 9% q-o-q in Q4FY2023 (till date) after seeing successive sequential declines over the past four quarters. We expect rangebound PVC prices to aid normalised OPMs of 15-16% in FY2024-FY2025E. PVC pipe players are expected to see healthy volume growth in FY2024 post a decadal high growth expected in FY2023. Government spending and positive residential housing demand would drive demand growth for piping. Commercial production at the Odisha unit started in mid-February. Greenfield and brownfield capacity additions undertaken in FY2023 and FY2024 would ascertain higher than industry growth rate for SIL.


We retain a Buy on Supreme Industries Limited (SIL) with a revised PT of Rs. 3,000, assigning a higher valuation multiple to factor in favourable pricing and demand.

For all recommendations report, click here

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Supreme Industries - 22 -03 - 2023 - khan

Broker Research
first published: Mar 22, 2023 01:23 pm