Suprajit Engineering – Diversification, Geographical Expansion To De-Risk Portfolio: HDFC Securities Initiates Coverage


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HDFC Securities Retail Research

Suprajit Engineering Ltd. is the leader in manufacturing automotive cables in India. Over the last few years the company has gradually diversified away from cables and automotive business and the recent acquisition would further increase the diversification.

Last couple of years have witnessed muted growth for the company due to the impact of Covid pandemic, especially during the second wave where two-wheeler sales were largely impacted.

However, automobile sales have been improving and likely to post strong growth in the coming years. Its non-automotive division is doing very well in U.S. and Suprajit Engineering is focusing on going beyond cables into mechanisms, gear boxes and motor cables.

It has added many new products to its portfolio like electronics instrument cluster (moving from mechanical to electronic), combined braking systems for electric two- wheelers, brake shoes, digital speedometer, etc.

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