ICICI Direct has given Buy recommendation for Supreme Industries recommended buy rating on the stock with a target price of Rs 2625 in its research rep with a target price of Rs. 2625 in its research report issued on Jan 25, 2022

ICICI Direct’s research report on Supreme Industries

Supreme Industries (SIL) is India’s leading plastic processing company with a presence in four major segments including piping systems, packaging products, industrial products & consumer product category with revenue contribution of 63%,18%, 12% & 7%, respectively. Market leader in the PVC pipe industry with a value market share of 14% • Robust balance sheet with RoE & RoCE of 24% & 27% (five-year average), respectively, with stringent working capital policy.

Outlook

We maintain our BUY rating on the stock. We roll over our valuation on FY24E and value the stock at 28x P/E FY24E EPS with a revised target price of Rs 2625.

More Info on Trent

At 17:30 Supreme Industries was quoting at Rs 2,088.10, up Rs 30.85, or 1.50 percent.

It has touched an intraday high of Rs 2,139.20 and an intraday low of Rs 2,066.25.

It was trading with volumes of 3,379 shares, compared to its thirty day average of 4,622 shares, a decrease of -26.89 percent.

In the previous trading session, the share closed up 0.27 percent or Rs 5.50 at Rs 2,057.25.

The share touched its 52-week high Rs 2,689.00 and 52-week low Rs 1,754.00 on 19 October, 2021 and 29 January, 2021, respectively.

Currently, it is trading 22.35 percent below its 52-week high and 19.05 percent above its 52-week low.

Market capitalisation stands at Rs 26,524.48 crore.

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