Buy Supreme Industries, target of Rs 2800: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Supreme Industries

SIL reported better-than-expected consolidated net profit for Q3FY2023 led by robust volume growth in plastic piping along with higher than expected overall OPMs. Net cash surplus increased q-o-q. Management upped plastic piping volume guidance to 35% plus for FY2023 and overall OPM to 12.5%+. Range bound PVC prices along with healthy demand is expected to drive earnings growth going ahead. 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. 2,800, rolling forward our valuation multiple to FY2025E earnings and considering its healthy earnings growth outlook.

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Supreme Industries - 27 -01-2023 - khan