Buy Supreme Industries: IIFL Securities's Target Price Rs 5150

IIFL Securities maintains its bullish stance on Supreme Industries, recommending a buy with a target price of Rs 5150. This is based on the company's strong financial performance, expansion plans, and market leadership position. Supreme Industries has been delivering consistent revenue and profit growth, driven by increasing demand for its plastic products. The company is also investing in capacity expansion and product innovation to meet growing market demand, which is expected to drive future growth.

About Supreme Industries:

Supreme Industries is a leading plastic products manufacturer in India. Established in 1942, the company has a diverse portfolio of products ranging from plastic furniture, kitchenware, home appliances, and storage solutions. It has a strong distribution network across the country and exports its products to over 40 countries globally. With a focus on innovation and sustainability, Supreme Industries has become a trusted brand in the Indian household.

52 Week Price Trend:

Supreme Industries (NSE: SUPREMEIND) has experienced significant growth in its share price, currently trading at Rs 5019.2, surpassing its 52-week high of Rs 4888. The stock has witnessed a remarkable surge from its 52-week low of Rs 2430.5, representing an impressive appreciation of over 100%. This growth can be attributed to factors such as strong demand for plastic products, expansion into new markets, and strategic acquisitions. Analysts believe that Supreme Industries is well-positioned to continue its momentum, with a positive outlook for the plastic industry and the company's long-term growth prospects.

Stratzy's MOST Analysis:

SUPREMEIND has been rated as AAA by Stratzy's MOST framework, indicating that it has very low fundamental risk. This rating is based on the company's strong management team, positive outlook, financial safety, and bullish stock trend. The AAA rating suggests that investors can have high confidence in the company's long-term performance and growth potential.

Company's Fundamentals:

Supreme Industries (NSE:SUPREMEIND) has a stock PE (price-to-earnings) ratio of 48.34, indicating that investors are willing to pay 48.34 times the company's annual earnings per share for its stock. Its PB ratio (price-to-book) of 11.28 means that investors are paying 11.28 times the company's book value per share. Lastly, Supreme Industries' dividend yield of 0.64% reflects the percentage of a stock's current market value that is returned to shareholders annually as a dividend.

Fundamental and Technical information provided in this blog were last updated on 03 May, 2024

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