ICICI Direct has given Buy recommendation for Supreme Industries with a target price of Rs. 2320 in its research report issued on Apr 30, 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 65%,16%, 13% & 5%, 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.
We maintain our BUY rating on the stock. We value the stock at 25x P/E FY24E EPS and maintain our target price at Rs 2320.