{ }
Sharekhan has maintained a "Buy" rating on Supreme Industries, setting a target price of Rs 5,700. Despite Q2FY2025 earnings being impacted by declining PVC prices and weak infrastructure demand, a recovery is anticipated in H2 with projected volume growth of 14-15% year-on-year. The recent price correction offers a favorable buying opportunity.
The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
Geojit Financial Services has upgraded its rating on Supreme Industries to "Accumulate" with a target price of Rs 4,895. The company, a leader in plastic products, faced a 2% YoY revenue decline due to flat volumes and reduced government spending, but is expected to see growth driven by restocking and increased demand in the real estate sector. Profitability is projected to grow at a CAGR of 16% from FY24 to FY27E.
Prabhudas Lilladher has upgraded its recommendation for Supreme Industries to 'BUY' with a target price of Rs 5,752, following a recent stock price correction. Despite a slight volume growth of 0.2% in Q2FY25, the company anticipates a 14-15% overall volume growth for FY25, driven by capacity expansions and new product launches. Earnings estimates for FY25 to FY27 have been revised downward, reflecting challenges in the plastic pipe segment, but the long-term outlook remains positive.
Supreme Industries reported disappointing Q2FY25 results, with flat blended plastic and pipes volumes year-on-year, attributed to PVC price volatility, adverse weather, and low infrastructure spending. EBIT/kg for blended products fell 18.9% YoY, prompting management to lower pipe volume guidance for FY25 to 16-18%. ICICI Securities has upgraded the stock to HOLD with a target price of INR 4,457, reflecting a 21% price correction over the past three months.
Supreme Industries reported Q2FY2025 earnings that fell short of estimates due to PVC price volatility, weak infrastructure demand, and prolonged monsoons. The management has adjusted its volume growth guidance to 14-15% overall and 16-18% for plastic piping for FY2025. Despite these challenges, a stabilization in PVC prices and anticipated demand recovery in infrastructure, housing, and agriculture suggest a strong performance in H2, prompting a Buy recommendation with a revised target price of Rs. 5,700.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.