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Buy Supreme Industries: target of Rs 2500: Sharekhan

Sharekhan is bullish on Supreme Industries has recommended buy rating on the stock with a target price of Rs 2500 in its research report dated April 29, 2022.

May 03, 2022 / 11:37 AM IST
 
 
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Sharekhan's research report on Supreme Industries

Supreme Industries reported better-than-expected consolidated revenues for Q4FY2022 led by strong volume growth. OPM were affected by product mix. A decline in PVC prices and expectation of it being range bound in FY2023 is expected to support demand growth. The management expect minimum 15% y-o-y volume growth with 15-15.5% OPM for FY2023. Capex of Rs. 700 crore including carry-forward commitments majorly to augment plastic piping capacities highlights underlying strong demand growth expectations.

Outlook

We retain a Buy on Supreme Industries Limited (SIL) with an unchanged PT of Rs. 2,500.

For all recommendations report, click here

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first published: May 3, 2022 11:37 am

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