Buy Supreme Industries target of Rs 2020: Sharekhan

Sharekhan is bullish on Supreme Industries has recommended buy rating on the stock with a target price of Rs 2020 in its research report dated January 25, 2021.

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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Sharekhan’s research report on Supreme Industries

The company continued to report strong outperformance in revenue, OPM, and net profitability in Q3FY2021. Share of value-added products is on the rise. Cash surplus further improves. The company is witnessing housing-led demand pick up from metro cities. We expect sustainable 10%-12% volume-led growth going ahead. The company will focus on appointing distributors, addition of products, and deeper penetration. Capex of Rs. 400 crore has been earmarked for this year.

Outlook

We retain Buy on Supreme Industries Limited (SIL) with an unchanged PT of Rs. 2,020, revising our FY2021E-FY2023E earnings estimates upwards and considering strong net earnings growth over FY2021E-FY2023E.

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