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Suprajit is India's largest automotive cable maker with an annual cable capacity of 150 mn cables. Suprajit group has 15 plants. 14 in India and 1 in the UK, which also operates as a Tech Centre. Its customer list includes most Indian automotive majors. It also exports to many marquee global customers.
Automobile cables account for about the major chunk of its revenues; with speedometers and the others accounting for the rest.
December 2014 quarter results
For the quarter ended December 2014, Suprajit Engineering registered a 2% rise in consolidated sales to Rs 162.83 crore. OPM fell 330 basis points to 15.5% which saw OP falling 16% to Rs 25.19 crore.
Other income stood at Rs 1.25 crore against a loss of Rs 68 lakh and interest cost grew 28% to Rs 4.38 crore. After providing for depreciation (up 11% to Rs 2.50 crore), PBT fell 17% to Rs 19.56 crore.
Tax grew 1% to Rs 7.60 crore after which PAT fell 26% to Rs 11.96 crore.
Nine months results
For the nine months ended December 2014, consolidated sales grew 17% to Rs 456.96 crore. OPM fell 160 basis points to 15.4% which saw OP growing 6% to Rs 70.33 crore.
Other income rose 4% to Rs 4.58 crore and interest cost grew 30% to Rs 12.48 crore. After providing for depreciation (up 18% to Rs 7.26 crore), PBT stood at Rs 55.18 crore against Rs 55.03 crore.
Tax grew 7% to Rs 18.22 crore after which PAT fell 3% to Rs 36.95 crore.
Valuation
The share price trades at Rs 150.
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