Buy Supreme Petrochem; target of Rs 467: KR Choksey

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26 Aug, 2025 12:21

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Supreme Petrochem Ltd. has reported a revenue of INR 13,869 Mn in Q4FY23 against INR 11,804 Mn in Q3FY23, a growth of 17.5% on a QoQ basis and INR 14,977 Mn in Q4FY22, a dip of approximately 7.4% on a YoY basis. On operational front EBITDA in Q4FY23 stood at INR 2,089 Mn (-32.1% YoY / 75.7% QoQ), EBITDA Margin contracted by 549 bps YoY and 499 bps QoQ to 15.1% in Q4FY23 due to volume growth and better spread. Net Profit in Q4FY23 stood at INR 1,589 Mn (-30.1 YoY /78.4% QoQ) , with NPM at 11.5%. EPS during the quarter came at 17 against 24 in the same quarter last year and 9.5 in Q3FY23.

At CMP of INR 383, the stock is currently trading at a P/E multiple of 11.8x/9.8x on its FY24E/25E revised EPS of INR 32.4/38.9 respectively. We value the stock at 12x on its FY25E EPS of INR 38.9, which yields a target price of INR 467/share, an upside of 21.9% over the CMP. Accordingly, we maintain our “BUY” rating on the shares of Supreme Petrochem Ltd.

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