Buy Supreme Industries; target of Rs 2520: Sharekhan

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Sharekhan's research report on Supreme Industries

SIL reported lower-than-expected consolidated net profit for Q2FY2023 owing to high inventory losses, although it surprised positively on the revenue front. Management expects strong demand environment to aid in 20% y-o-y growth in consolidated revenue although OPM may come in at 12-12.5% in FY2023. Capex of Rs. 700 crore, including carry-forward commitments majorly to augment plastic piping capacities, is likely to aid in strong volume growth.

Outlook

We retain Buy on Supreme Industries Limited (SIL) with a revised PT of Rs. 2,520, considering its relatively low valuation and healthy earnings growth outlook.

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Supreme Industries - 01-11-2022 - khan