Sansera Engineering - Targeting 20% RoCE Amid Executing Growth Capex: ICICI Securities

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..ICICI Securities Report.We interacted with the management of Sansera Engineering Ltd. to get mid-year update on its business execution and outlook ahead. Following are the key takeaways:Revenue is on course to meet the target of ~40% growth in exports in FY24, including ~50% growth in aerospace segment;supplies to Triumph and Harley for the newlylaunched indigenised models would add to two-wheeler segment revenue growth along with continued premiumisation of overall two-wheeler market;Ebitdam is on track to be at 17-18% in FY24 and inch up potentially higher in FY25 driven by the rising mix of exports/aerospace;despite capex of Rs 2.8-3 billion per annum, Sansera is confident of crossing ~20% pre-tax return on capital employed by FY25. We retain 'Buy' on Sansera with an unchanged target price of Rs 1,133, implying 20 times FY25E earnings..Click on the attachment to read the full report:.Tata Steel, UK Government Jointly Plan To Invest In EAF Facility At Port Talbot: Motilal Oswal.DISCLAIMERThis 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.

Sansera Engineering - Targeting 20% RoCE Amid Executing Growth Capex: ICICI Securities

Exports and aerospace growth on track as guided.

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