Suprajit Engineering (SEL) delivered decent revenue growth although with subdued margin performance in 2Q. Consol Revenue at Rs 3.9bn (+16% YoY) led by strong growth in core cable business, offset by muted growth in Phoenix (flat YoY) and seasonally weak quarter for Wescon. Consol EBITDA de-grew 5% YoY to Rs 531mn with disappointing margin at 13.6% led by rise in commodity prices and freight cost. SEL has been able to pass on most of the cost increase, however benefit will come from 3Q (lag effect). Management has given strong outlook for 2H and FY20 led by 1) Improving traction with domestic & export 4Ws OEMs in the cable business 2) Improving utilisation of Phoenix’s H7 line (>50%), and 3)Diversification in its non-auto cable business.
We expect capacity expansion (250mn to 300mn cables), acquisition of new business in 4W cable segment and ramp up of new H7 line of Phoenix are key positives for the company. SEL is also confident of passing on costs (lag effect) and maintained 14-16% EBITDA margin guidance for FY19. We have cut EPS by 13/9% for FY19/20E factoring in margin pressure. Expect EPS CAGR of 15% over FY18-21E. We value the stock Rs 282(20xSept-20E EPS). Maintain BUY
Suprajit is pleased to inform you that an outright purchase of industrial property with land measuring 1,75,000 sq.ft along with buildings measuring 70,000 sq.ft located at Jigani Industrial Area. Jigani…
Call Recording of Q2 FY24 Result Conference Call Hosted by Anand Rathi
Please find attached financial results and business updates on un-audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2023.
10 November 2023, at 11:00 am IST Hosted by Anand Rathi Research
Pursuant to the Regulation 29(1)(a) of SEBI (LODR), Regulations 2015, it is hereby intimated that the Meeting of Board of Directors of the Company is scheduled to be held on…
In compliance with the Securities & Exchange Board of India (Prohibition of InsiderTrading) Regulations, 2015, it is hereby informed that the Trading Window of theCompany will remain closed from October…
Pursuant to the Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, please find enclosed the voting results and Scrutinizer’s Report on theResolutions passed by the Members at the…
Pursuant to the provisions of Regulation 30 read with Part A of Schedule III of SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015, please be informed that theThirty-Eight (38th) AGM of…
This is to inform you that the United Auto Workers (UAW) Union has resorted to strike at 3 major Auto Companies, namely GM, Ford and Stellantis, in the USA. The…
This is to inform you that the Company has allotted 41,511 Equity Shares of Re. 1/- eachto 36 employees, who have exercised their option under the “SEL ESAR Plan -2017”…
We expect 12% revenue CAGR for SEL over FY23–25E, led by all-round growth across business segments and an incremental ₹8.7 bn from LDC revenue. Auto Cable business is expected to…
Please find attached the copy of Newspaper Advertisement published by the Company in‘Business Standard’, English Newspaper and ‘Sanjevani’, Kannada Newspaper.
Find below attached copies of the Newspaper Advertisement published by the company in “Financial Express”, English Newspaper and “Sanjevani”, Kannada Newspaper, with respect to Financial Results for the quarter ended…
Find below attached copies of the Newspaper Advertisement published by the company in “Business Standards”, English Newspaper and “Sanjevani”, Kannada Newspaper, with respect to Financial Results for the quarter and…
We forecast revenue CAGR of 25% over FY22-25E We forecast 28% EPS CAGR over FY22-25E for Suprajit We initiate coverage with a BUY recommendation and Sep-23E TP of Rs440 Consistent…
Notice is hereby given that the 37th (Thirty Seventh) Annual General Meeting (AGM) of the Members of Suprajit Engineering Limited (“the Company”) will be held on Monday, September 26, 2022,…
We initiate coverage on Suprajit Engineering (SEL) with a BUY rating. SEL is one of the largest manufacturers of Automotive Control Cables and Halogen Lamps, supplying to domestic & international…
Suprajit Engineering (SEL) has consistently grown ahead of industry through inorganicopportunities. Through its newest acquisition (LDC), company is well placed to increaseits global market share in control cables.
Suprajit Engineering Limited’s (Suprajit’s) Q2FY2022 numbers were better than expectations, with revenue, EBIDTA, and PAT improving by 36.5%, 62.6%, and 99.8%, respectively, on a q-o-q basis. Net revenue improved by…
