Supreme Industries' Stock Downgraded to 'Sell' After Negative Results in September 2024
Supreme Industries, a leading player in the plastic products industry, has recently faced a downgrade in its stock call by MarketsMOJO. The company's stock has been downgraded to 'Sell' on November 4th, 2024.The downgrade comes after the company reported negative results in September 2024, breaking its streak of four consecutive positive quarters. The PBT LESS OI(Q) has fallen by 17.05% at Rs 254.48 crore, while the PAT(Q) has fallen by 15.0% at Rs 206.60 crore. The NET SALES(Q) have also hit a low of Rs 2,272.95 crore.
Technically, the stock is currently in a Mildly Bearish range and has generated -3.04% returns since the downgrade on November 4th. Multiple factors such as MACD, Bollinger Band, and KST have contributed to the bearish trend.
With a ROE of 20.6, the stock is currently trading at a very expensive valuation with a 10.1 Price to Book Value. However, it is trading at a fair value compared to its average historical valuations. In the past year, the stock has generated a return of -3.62%, while its profits have risen by 6.1%. The PEG ratio of the company is 8.
In the last year, the stock has underperformed the market (BSE 500) by generating negative returns of -3.62%, while the market has generated returns of 31.79%.
On the other hand, the company has strong long-term fundamental strength with an average ROE of 23.02%. It also has a low Debt to Equity ratio (avg) of 0.03 times. Additionally, the company has a high institutional holding of 36.54%, indicating that these investors have better capability and resources to analyze the company's fundamentals compared to retail investors.
With a market cap of Rs 54,329 crore, Supreme Industries is the largest company in the plastic products sector, constituting 26.28% of the entire sector. Its annual sales of Rs 10,366.29 crore make up 17.44% of the industry. Despite the recent downgrade, the company's strong fundamentals and market dominance make it a significant player in the industry.
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