SMIFS Research: Suprajit – Consistency & outperformance to continue in the coming years!

Posted near in-line set of numbers and stable outlook provided for existing businesses. Expect new acquisition and new products from STC to be new gems in the coming few years for Suprajit, that will increase export growth opportunities & will further reduce dependency on domestic 2Ws. Despite input cost pressures, the company managed to maintain margin at 16%+, passing on RMC & other costs is expected to support at least a similar level of margin in the coming quarters. In LDC, low hanging fruits are visible on the costs side and multiple synergies in terms of manufacturing, engineering & business development to support continuation of the company’s outperformance in the coming years.

We maintain ACCUMULATE rating and target price of Rs. 405 per share.

Anouncements from Suprajit

Call Recording of Q1 FY23 Result Conference Call Hosted by Anand Rathi Research on 15 November 2022, at 11:00 am IST Suprajit Eng Q2FY23 Call Recording.mp3

The overall Indian automotive segment grew at 22% during the first half of the year. Against this, Suprajit India business grew at 28%, showing a strong domestic operation, despite weak…

15 November 2022, at 11:00 am IST Hosted by Anand Rathi Research

Suprajit is pleased to inform that its Electronics Facility, at Doddaballapur was inaugurated today byMr. Sudarshan Venu, Managing Director, TVS Motor Company Limited. This facility is setup tocommercialise some of…

In Compliance with the securities & exchange board of India regulations, 2015, it is hereby informed that the trading window of the company will remain closed from October 1, 2022…

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,…

Call Recording of Q1 FY23 Result Conference Call Hosted by Anand Rathi Research on 12 August 2022, at 11:00 am IST Suprajit Eng Q1FY23 Call Recording.mp3

Operations:• India Operations continue to remain strong. The overall Indian automotive segment grew at 35% during the 1st quarter. Against this, Suprajit’s India business grew at 60+%.• Global automotive volumes…

12 August 2022, at 11:00 am IST Hosted by Anand Rathi Research

Suprajit in the News / Media

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…

Suprajit Engineering (SEL) reported consolidated EBITDA margin of 16.2% (-40bps YoY,+260bps QoQ), 140bps above JMFe driven by strong margin performance in automotive cable division. Management expects the headwinds such as…

Suprajit Engineering (SEL) reported Q2FY22 EBITDA of INR801mn beating our estimate by 22% due to a strong revenue performance. Acceptance of price hike for earlier quarters by OEMs (~2% of…

Suprajit Engineering (SEL) displayed resilient performance on the back of strong margin performance in the Automotive cable business. Revenue grew 11.4% YoY to Rs. 4.94bn led by 10% YoY increase…

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