Supreme Industries Ltd. – Market Leader
Supreme Industries Ltd. (SIL) is a plastic product manufacturer and the largest plastic processor in India, processing over 4 lakh MT annually. Company enjoys a significant market share across its business verticals like Plastic Piping , Industrial Products and Consumer Products. The company has been consistently increasing capacity in the plastics processing and has more than 8000 diversified products. Presence in the Indian plastic industry for over 50+ years under present management. Supreme Industries has 25 technologically advanced manufacturing facilities located at various places spread across the country.
SIL seems to be aptly poised to achieve its targeted guidance for FY23 following the positive demand outlook & favourable industry dynamics. The piping segment is expected to deliver strong growth in the wake of supportive government policies. We recommend a BUY rating in the stock with the target price (TP) of Rs.2410, 29x FY24E EPS.