Suprajit Engineering

₹408.9 2.3 | 0.6%

WEBSITE BSE:532509 NSE : SUPRAJIT ENG 10 May, 16:01

Market Cap ₹5662 Cr.

Stock P/E 38.0

P/B 4.3

Current Price ₹408.9

Book Value ₹ 94.8

Face Value 1

52W High ₹453.5

Dividend Yield 0.56%

52W Low ₹ 353.3

Edit Ratio

Suprajit Engineering Research see more...

Overview Inc. Year: 1985Industry: Auto Ancillary

Suprajit Engineering Ltd is an totally India-based organisation engaged in supplying automotive cables, speedometers and automobile components/parts. The Company is engaged inside the commercial enterprise of producing of auto additives consisting particularly control cables, speedo cables and other additives for vehicles. The Company's plants are at Bengaluru, Karnataka; Manesar, Haryana; Chakan, Maharashtra; Vapi, Gujarat; Pantnagar, Uttarakhand; Haridwar, Uttarakhand; Sanand, Gujarat; Pathredi, Rajasthan, and Chennai, Tamil Nadu. The Company elements its products to the original equipment manufacturers (OEMs). The Company also exports its merchandise to numerous international locations. The Company caters to a number of automotive and non-automotive cable requirements. The Company has an annual manufacturing capacity of approximately 225 million cables. The Company's subsidiaries consist of Suprajit Automotive Pvt Ltd, Suprajit Europe Ltd and Phoenix Lamps Ltd.

Suprajit Engineering Share Price

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Peer Comparison

Suprajit Engineering Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	494	479	506	645	716	692	699	680	709	724
Other Income	15	8	7	18	22	5	6	13	19	9
Total Income	509	487	513	663	738	697	705	693	728	733
Total Expenditure	414	425	429	591	637	611	612	608	639	637
Operating Profit	95	62	83	72	100	86	93	84	89	96
Interest	4	3	3	6	8	10	11	12	14	13
Depreciation	15	14	15	24	24	25	23	25	26	26
Exceptional Income / Expenses	-4	0	0	0	0	0	0	0	0	0
Profit Before Tax	73	45	65	42	69	51	58	48	49	57
Provision for Tax	23	13	16	15	23	13	17	15	14	17
Profit After Tax	50	32	49	27	46	38	41	33	35	40
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	50	32	49	27	46	38	41	33	35	40
Adjusted Earnings Per Share	3.6	2.3	3.5	2	3.3	2.7	3	2.4	2.5	2.9

Suprajit Engineering Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	463	545	612	953	1203	1431	1590	1563	1641	1840	2752	2812
Other Income	4	4	4	16	20	21	38	22	34	37	39	47
Total Income	466	549	616	968	1223	1452	1628	1585	1674	1877	2791	2859
Total Expenditure	385	452	515	797	999	1195	1357	1344	1404	1581	2440	2496
Operating Profit	81	97	101	171	224	258	271	241	270	297	351	362
Interest	11	14	17	26	30	27	25	23	19	15	36	50
Depreciation	8	8	9	16	27	37	41	58	57	59	95	100
Exceptional Income / Expenses	5	0	0	-6	-1	0	0	-27	0	12	0	0
Profit Before Tax	67	74	75	123	164	193	205	133	194	235	220	212
Provision for Tax	20	24	24	43	50	55	71	29	52	62	68	63
Profit After Tax	47	51	50	80	114	138	134	104	143	173	152	149
Adjustments	0	0	0	-8	0	0	0	0	0	0	0	0
Profit After Adjustments	47	51	50	72	114	138	134	104	143	173	152	149
Adjusted Earnings Per Share	3.9	4.2	4.2	5.5	8.1	9.9	9.6	7.4	10.2	12.5	11	10.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	50%	21%	14%	20%
Operating Profit CAGR	18%	13%	6%	16%
PAT CAGR	-12%	13%	2%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	7%	17%	14%	19%
ROE Average	13%	15%	15%	21%
ROCE Average	16%	17%	17%	22%

Suprajit Engineering Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	167	205	241	448	524	655	775	854	990	1084	1224
Minority's Interest	0	0	0	54	0	0	0	0	0	0	0
Borrowings	39	43	65	76	193	108	97	66	35	14	265
Other Non-Current Liabilities	8	11	13	18	77	64	74	82	86	87	117
Total Current Liabilities	138	198	209	365	340	475	501	579	603	554	815
Total Liabilities	352	456	529	960	1135	1302	1447	1581	1713	1739	2422
Fixed Assets	119	152	168	330	556	544	553	613	598	588	807
Other Non-Current Assets	29	8	24	41	27	31	65	119	54	33	52
Total Current Assets	204	296	337	588	551	727	829	848	1061	1118	1562
Total Assets	352	456	529	960	1135	1302	1447	1581	1713	1739	2422

Suprajit Engineering Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	3	7	7	14	17	21	30	44	61	77	186
Cash Flow from Operating Activities	46	38	67	93	126	217	145	232	161	182	239
Cash Flow from Investing Activities	-51	-53	-76	-240	-169	-125	-89	-157	-60	37	-579
Cash Flow from Financing Activities	9	14	7	151	47	-85	-42	-61	-86	-111	223
Net Cash Inflow / Outflow	4	-1	-1	4	4	8	14	15	15	107	-117
Closing Cash & Cash Equivalent	7	7	5	17	21	30	44	61	77	186	100

Suprajit Engineering Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.93	4.23	4.19	5.48	8.13	9.9	9.57	7.43	10.2	12.51	10.99
CEPS(Rs)	4.61	4.93	4.94	7.32	10.09	12.56	12.5	11.59	14.26	16.73	17.89
DPS(Rs)	0.75	0.95	0.95	1.05	1.1	1.4	1.55	1.75	1.75	2	2.3
Book NAV/Share(Rs)	13.89	17.06	20.06	34.08	37.48	46.82	55.05	60.67	70.21	77.65	87.65
Core EBITDA Margin(%)	15.22	15.6	14.44	15.02	15.7	16.26	14.64	13.99	14.43	14.12	11.36
EBIT Margin(%)	15.38	14.82	13.73	14.45	15.03	15.16	14.45	9.95	13.01	13.57	9.29
Pre Tax Margin(%)	13.16	12.47	11.19	11.93	12.67	13.3	12.91	8.5	11.84	12.78	8
PAT Margin (%)	9.28	8.51	7.53	7.76	8.78	9.52	8.42	6.65	8.7	9.4	5.53
Cash Profit Margin (%)	10.88	9.91	8.88	9.29	10.9	12.08	10.99	10.37	12.16	12.58	8.99
ROA(%)	14.87	12.58	10.21	10.79	10.86	11.37	9.73	6.87	8.67	10.03	7.31
ROE(%)	31.85	27.36	22.57	23.34	23.41	23.49	18.78	12.85	15.59	16.83	13.3
ROCE(%)	31.85	27.67	23.06	25.34	23.63	23.19	21.5	13.12	16.74	18.41	15.69
Receivable days	65.43	64.72	66.67	59.01	63.93	66.9	66.64	66.16	67.51	62.39	50.26
Inventory Days	31.58	38.51	42.99	43.57	51.98	54.99	58.25	63.9	65.7	65.23	54.76
Payable days	59.53	57.52	56.71	49.01	52.95	65.68	71.33	77.61	88.24	74.7	54.89
PER(x)	8.51	16.05	30.75	24.1	29.64	28.24	25.48	14.91	26.99	27.35	31.38
Price/Book(x)	2.4	3.98	6.42	3.87	6.43	5.97	4.43	1.83	3.92	4.4	3.94
Dividend Yield(%)	2.25	1.4	0.74	0.8	0.46	0.5	0.64	1.58	0.64	0.58	0.67
EV/Net Sales(x)	1.09	1.77	2.83	2.11	3.1	2.95	2.34	1.19	2.49	2.64	1.93
EV/Core EBITDA(x)	6.23	9.96	17.22	11.77	16.67	16.39	13.76	7.74	15.11	16.38	15.11
Net Sales Growth(%)	9.15	17.88	12.21	55.69	26.28	18.97	11.1	-1.7	4.99	12.17	49.55
EBIT Growth(%)	20.19	13.27	3.63	63.1	30.16	13.28	4.19	-32.32	37.32	16.92	2.45
PAT Growth(%)	18.36	7.82	-1.05	59.77	41.59	21.76	-3.39	-22.29	37.27	21.28	-12.11
EPS Growth(%)	18.36	7.82	-1.05	30.75	48.46	21.75	-3.39	-22.29	37.27	22.58	-12.12
Debt/Equity(x)	0.67	0.76	0.8	0.67	0.72	0.53	0.47	0.45	0.33	0.29	0.53
Current Ratio(x)	1.48	1.49	1.61	1.61	1.62	1.53	1.65	1.47	1.76	2.02	1.92
Quick Ratio(x)	1.13	1.1	1.23	1.16	1.03	1.03	1.11	0.99	1.24	1.4	1.32
Interest Cover(x)	6.92	6.3	5.4	5.72	6.38	8.14	9.36	6.86	11.11	17.19	7.19
Total Debt/Mcap(x)	0.28	0.19	0.13	0.17	0.12	0.09	0.11	0.25	0.09	0.07	0.13

Suprajit Engineering Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	44.61	44.64	44.64	44.64	44.64	44.64	44.64	44.62	44.62	44.61
FII	5.92	5.01	4.95	5.42	5.1	5.07	5.11	4.76	4.56	4.79
DII	14.11	14.9	14.81	15.21	15.62	15.96	15.91	15.86	16.21	17.51
Public	35.36	35.45	35.6	34.73	34.65	34.33	34.34	34.75	34.6	33.09
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	6.17	6.18	6.18	6.18	6.18	6.18	6.18	6.18	6.18	6.18
FII	0.82	0.69	0.68	0.75	0.71	0.7	0.71	0.66	0.63	0.66
DII	1.95	2.06	2.05	2.11	2.16	2.21	2.2	2.2	2.24	2.42
Public	4.89	4.91	4.93	4.81	4.79	4.75	4.75	4.81	4.79	4.58
Others	0	0	0	0	0	0	0	0	0	0
Total	13.84	13.84	13.84	13.84	13.84	13.84	13.84	13.84	13.84	13.85

Pros

Debtor days have improved from 74.7 to 54.89days.

Cons

Promoter holding is low: 44.61%.
Stock is trading at 4.3 times its book value.
The company has delivered a poor profit growth of 1% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.