BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Supreme Industries Ltd.'s Q2 FY23 result was below our and consensus estimates on key parameters. Despite healthy volume growth, the company witnessed sharp inventory loss due to decline in raw material prices.
The management maintained their guidance of net sales of ~Rs 90 billion in FY23E, however, Ebitda margin may be subdued due to poor performance in H1 FY23.
Supreme Industries reported net sales of Rs 20.8 billion, increased by 8.2% YoY, while Ebitda came in at Rs 1.4 billion, lower by 52.7% over Q2 FY22.
It reported net profit of Rs 0.8 billion, a sharp fall of 64.1% YoY. We have cut our FY23E estimates given weak H1 FY23 performance, while have broadly maintained FY24E estimates.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.