Buy Suprajit Engineering; target of Rs 403: Sharekhan

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Sharekhan's research report on Suprajit Engineering

Except for non-auto business (SENA) all other divisions are expected to perform well in Q4FY23. Consolidating European business to eliminate margin volatility. LDC business has turned around – inline with management’s earlier guidance. Stock trades at P/E multiple of 17.1x and EV/EBITDA multiple of 9.8x its FY25E estimates.

Outlook

We reiterate a Buy on Suprajit Engineering Ltd with an unchanged PT of Rs. 403, on the back of its diversified, de-risked and innovation-driven business model.

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Suprajit Engineering - 13 -03 - 2023 - khan