Sharekhan's research report on Supreme Industries
Supreme Industries reported better-than-expected consolidated revenues for Q1FY2023 while it disappointed on OPM front owing to inventory losses and changes in product mix. The management expects the business improvement from the fag end of Q2FY2023 with PVC prices bottoming out. It expects overall 15% volume growth and 15% 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 a revised PT of Rs. 2,300 lowering our valuation multiple to factor in near term headwinds.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!