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    Buy Suprajit Engineering; target of Rs 300: Sharekhan

    Sharekhan is bullish on Suprajit Engineering has recommended buy rating on the stock with a target price of Rs 300 in its research report dated February 11, 2021.
    Broker Research
    February 16, 2021 / 17:44 IST

    Sharekhan's research report on Suprajit Engineering

    SUPRAJIT reported strong set of numbers in Q3FY21 results, exceeding our estimates on all the key parameters. We expect SUPRAJIT’s consolidated earnings to grow robust by 40.8% in FY2022E and 23.4% in FY2023E, driven by 19.0% CAGR during FY2021E-FY2023E and 160 bps improvement in EBITDA margin. The stock is trading below its average historical multiple at P/E multiple of 15.6x and EV/EBITDA multiple of 10.1x its FY2023E estimates. We retain our Buy rating.

    Outlook

    We reiterate our Buy rating on Suprajit Engineering Limited (SUPRAJIT) with a revised PT of Rs. 300, factoring its long-term average multiples, owing to its strong business outlook and earnings upgrade.

    For all recommendations report, click here

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