Axis Securities initiates India's Sansera Engineering with "buy"

Sansera Engineering

21/12/2023 06:59

** Axis Securities initiates coverage on India's Sansera
Engineering  SASE.NS  with "buy" and PT of 1,210 rupees
    ** Avg rating of six a 'strong buy', median PT 1,129.50
rupees, per LSEG data; Axis PT a 26% upside to last close
    ** Shares of Sansera are up ~1.2%, and are set for yearly
gains of nearly 31%
    ** Axis sees strong operating cash flows for co on strong
product pipeline, higher sales mix in non-auto internal
combustion engine (ICE) vehicle components, higher exports
    ** Co has seen upswing in order book, areas beyond
traditional ICE components, growth in non-auto segment,
especially defence and aerospace, to de-risk portfolio -
brokerage
    ** Axis sees EBITDA/PAT growth of 21%/30% CAGR over FY23-26
from 19%/23% over FY20-23

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))