Suprajit Engineering Ltd Stock Analysis

BSE: 532509 | NSE: SUPRAJIT | Auto Ancillary | Small Cap

BSE Share Price 26-May-2023 18:01
396.15 -4.35 (-1.09%)

DeciZen - Make an Informed Decision on Suprajit Engineering

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Suprajit Engineering Price Chart

P/E Ratio ( CD) :
34.32
Market Cap :
5,482.4 Cr.
52-wk low :
297.5
52-wk high :
415.5
Bole Toh?

1. Is Suprajit Engineering Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Suprajit Engineering Ltd is a good quality company.

2. Is Suprajit Engineering Ltd undervalued or overvalued?

The key valuation ratios of Suprajit Engineering Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Suprajit Engineering Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Suprajit Engineering Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Suprajit Engineering:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Suprajit Engineering Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 20.9%18.3%15.5%14.8%15.4%16.3%13%10.9%11.9%11.8%-
Value Creation Index 0.50.30.10.10.10.2-0.1-0.2-0.2-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4635456129531,2031,4311,5901,5631,6411,8402,559
YoY Gr. Rt. %-17.9%12.2%55.7%26.3%19%11.1%-1.7%5%12.2%-
Adj EPS 3.64.14.25.67.89.78.78.19.810.811.5
YoY Gr. Rt. %-12.2%2.5%34.2%40.2%24.3%-10.6%-6.6%21.3%9.8%-
BVPS (₹) 13.917.120.134.137.546.855.160.770.277.786.5
Adj Net Profit 43.448.649.873.2109136121113138149160
Cash Flow from Ops. 45.737.567.292.8126217145232161182-
Debt/CF from Ops. 2.54.22.93.231.62.51.621.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 16.6%8.9%5%12.2%
Adj EPS 13%6.7%7.6%9.8%
BVPS 21.115.712.210.6
Share Price 27.5% 7.4% 53.7% 17.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 29.326.222.321.322.5231713.914.914.414.1
Op. Profit Mgn % 1717.115.816.316.916.614.71414.414.111.3
Net Profit Mgn % 9.48.98.18.69.19.57.67.38.48.16.2
Debt to Equity 0.70.80.80.70.70.50.50.50.30.3-
Working Cap Days 1111171221181371411421471461380
Cash Conv. Cycle 536168667977777774770

Recent Performance Summary

Sales growth is good in last 4 quarters at 41.63%

Return on Equity has declined versus last 3 years average to 14.10%

Sales growth has been subdued in last 3 years 5.00%

Net Profit has been subdued in last 3 years 7.56%

Latest Financials - Suprajit Engineering Ltd.

Standalone Consolidated
TTM EPS (₹) 13.5 11.5
TTM Sales (₹ Cr.) 1,448 2,559
BVPS (₹.) 77.6 86.5
Reserves (₹ Cr.) 1,060 1,184
P/BV 5.11 4.58
PE 29.38 34.32
From the Market
52 Week Low / High (₹) 297.50 / 415.45
All Time Low / High (₹) 3.25 / 478.00
Market Cap (₹ Cr.) 5,482
Equity (₹ Cr.) 13.8
Face Value (₹) 1
Industry PE 39.1

Management X-Ray of Suprajit Engineering :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Suprajit Engineering

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Suprajit Engineering Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Suprajit Engineering on 26-May-2023 18:01 is : 396.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 26-May-2023 18:01 the market cap of Suprajit Engineering stood at ₹ 5,482.4.
The latest PE ratio of Suprajit Engineering as of 26-May-2023 18:01 is 29.38.
The latest PB ratio of Suprajit Engineering as of 26-May-2023 18:01 is 5.11
The 52-week high of Suprajit Engineering is ₹ 415.4 and the 52-week low is ₹ 297.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Suprajit Engineering is ₹ 1,448 ( Cr.) .

About Suprajit Engineering Ltd

Suprajit Engineering Ltd (SEL) was incorporated on May 24, 1985 as a private limited company and was converted into public limited company on June 15, 1995. Suprajit started manufacturing high quality liner cables exacting Japanese standards for the automotive industry in 1987. It is today India’s most preferred manufacturer of cables and instruments and meets the demand of virtually every major OEM in the automotive sector. It is a customer centric company, ready to take on challenging product development and manufacturing to international specifications for a wide range of automotive cables and instruments. Today catering to a wide spectrum of automotive and non-automotive cable requirements Suprajit has achieved a phenomenal growth, making it India's largest manufacturer of automotive cables.

It has one of the largest manufacturing capacities for any one company in a specific country in the world. Suprajit is committed to being a world class organization, supplying cables and components to overseas and domestic customers in automobile and non-automobile sectors. With ISO/TS 169 49 2002 certifications, Suprajit practices a philosophy of continuous improvement and adopts processes that ensures fool proof & defect free manufacturing. Suprajit also seamlessly and efficiently satisfies its customer needs by optimizing production cycles. In 2011 - Gills Cables Limited was renamed as Suprajit Europe Ltd.

Business area of the company

The Company is engaged in the business of manufacturing and selling of automotive and other components and that are considered as single segment.

Products

  • Motion Control Solutions
  • Control Cable Systems
  • Push-Pull Assemblies
  • Brake Cable and Lever Systems
  • Rotary Push-Pull Lever Control Systems
  • Gear Shifter Mechanism and Cable
  • Joysticks & Remote Valve Control Systems
  • Commercial Controls

Awards

2017-18

  • Volkswagen - ‘A’ Grade Supplier Award, Quality Performance Award.
  • Honda Motor Cycles and Scooters – Quality and Delivery Achievement Award.
  • General Motors - Supplier Quality Excellence Award (3 years in a row).
  • John Deere - Accelerated Global Sourcing Award.
  • Brose Key Supplier Award.
  • Bajaj Auto Limited - TPM Excellence Award.
  • Tata Motors - Green Card for ‘0’ PPM.
  • Hero MotoCorp Limited - Direct Online Supply (DOL) Award.
  • Bajaj Auto Limited - Quality Consistency Gold Award.
  • Yamaha - Cost Reduction & VA/VE activity award.
  • TVS, Bajaj and Mahindra - various Awards.
  • KSFC: Entrepreneur of the year for the promoter.
  • CNBC/ICICI/CRISIL: SME of the year Auto Ancillary of the year.
  • NASSCOM: Best IT user Award in Automotive Sector.
  • KSFC: Outstanding Enterprise of the State.
  • BMA - Entrepreneur of the year.

2018-19

  • Volkswagen - Grade Supplier Award, Quality Performance Award
  • Honda Motor Cycles and Scooters -Quality and Delivery Achievement Award
  • General Motors - Supplier Quality Excellence Award (3 years in a row)
  • John Deere - Accelerated Global Sourcing Award
  • Brose Key Supplier Award
  • Bajaj Auto Limited - TPM Excellence Award Tata Motors - Green Card for '0' PPM
  • Hero MotoCorp Limited -Direct Online Supply (DOL) Award
  • Bajaj Auto Limited - Quality Consistency Gold Award
  • Yamaha - Cost Reduction & VA/VE Activity Award A grade excellence Award
  • TVS. Bajaj and Mahindra - various Awards
  • Best Delivery and Quality Supplier of the Year - AISIN Group

2019-20

  • Volkswagen -'A' Grade Supplier Award, Quality Performance Award
  • Honda Motor Cycles and Scooters - Quality and Delivery Achievement Award
  • General Motors -Supplier Quality Excellence Award (3 years in a row)
  • John Deere - Accelerated Global Sourcing Award
  • Brose Key Supplier Award
  • Bajaj Auto Limited - TPM Excellence Award
  • Tata Motors -Green Card for '0' PPM
  • Hero MotoCorp Limited -Direct Online Supply (DOL) Award
  • Bajaj Auto Limited -Quality Consistency Gold Award
  • Yamaha - Cost Reduction & VA/VE activity award
  • A grade excellence Award
  • TVS, Bajaj and Mahindra -various Awards

Milestones

1985:

  • Commencement of operations

1985-95:

  • Two new cable plants in Bangalore

1996-2005:

  • Listing of shares on BSE and NSE
  • India’s largest cable maker
  • Acquisition of Shah Concabs -4W cable competitor
  • Plants in Bangalore, Manesar and Chakan
  • Enterprise by State award by KSFC

2006-2010:

  • New plants in Pantnagar, Haridwar and Manesar
  • 100% EOU for non-automotive cables in Bangalore
  • Acquisition of CTP Gills Cables, one of the oldest cable companies with marquee global customers - now renamed as Suprajit Europe.

2011-2020:

  • Consolidating position as established global mechanical cable maker; diversifying and de-risking revenue profile
  • New plant at SAL, Banglore and Pathredi.
  • Acquisition of Speedo cable business (4W business) of Pricol
  • Acquisition of Wescon Controls, Wichita, USA
  • Launched two new plants in Chennai and Sanand
  • Launched Capex of Rs 100 crore to expand cable capacity to 300 million with 2 new plants
  • Acquisition of Osram Kamai Plant (Halogen Bulbs division)
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