Geojit recommended hold rating on Supreme Industries with a target price of Rs 1018 in its research report dated February 29, 2019.
Geojit's research report on Supreme Industries
Supreme Industries Ltd (SIL) is India’s leading player in plastic products; the wide range of offering includes Plastic Piping system, Packaging, Industrial and Consumer products. Despite 10% YoY revenue growth in Q3FY19, PAT declined by 22% YoY due to weak operating performance. Volume growth was muted at 4% YoY due to poor performance of packaging segment and industrial segment.
Outlook
However, given weak earnings outlook in the near term we downgrade SIL to “Hold” from “Accumulate” with a target price of Rs1,018.
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