Suprajit Engg.Q1 FY27
Suprajit Engg. Q1 FY27 Earnings Call Analysis
Revenue, margin, capex, fundraise and order book outlook from management commentary.
Price: ₹502P/E: 36.9Market Cap: ₹6.9K CrSector: Auto Components
Management growth scorecard
Revenue
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Margin
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Fundraise
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Order
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Capex
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0 of 0 growth signals are positive — mixed outlook.
Full analysisRevenue guidance
- →Global Cables and Mechatronics (GCM) division is seeing strong growth; reported 22-24% growth despite flat global business.
- →US business ramping up well, with store counts expected to triple or quadruple next year.
- →Electronics division (SED) growing rapidly with new telematics projects and expanding capacity due to strong order pipeline.
- →India business grew 20% this quarter; newer products like braking systems contribute to growth but from a small base.
- →New global contracts won (e.g., largest EV cable contract worth USD 5 million annually) expected to sustain growth.
- →Expect double-digit growth consolidated, with GCM maintaining 10-12% EBITDA margins.
- →Overall, strong order wins and expanding footprints support continued sales/revenue growth over next 2-3 years.
Margin guidance
- →The U.S. business is expected to be much larger this year with store counts potentially tripling or quadrupling next year, driving growth.
- →Consolidated Global Cables and Mechatronics (GCM) division is growing strongly at around 22-24%, with double-digit revenue growth and EBITDA margin guidance between 10%-12%.
- →India standalone business margins may remain similar to last year (±50 basis points), with margin recovery expected as wage cost pass-through is negotiated and cost reduction initiatives take effect.
- →Electronics division (SED) shows strong growth driven by digital clusters and throttle grips, with pipeline expansions and capacity ramp-ups ongoing to meet rising demand.
- →EBITDA margin for SED is expected to sustain around 10.5% - 12%, with new project launches influencing product mix.
- →Overall consolidated EBITDA margin guidance is 12%-13.5% with double-digit revenue growth expected.
- →Margin improvements in global restructuring and cost improvements have positively influenced profitability.
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Fundraise plans
No information is provided regarding the same in the latest conference call.
Order book
- →Suprajit has won nearly 25 different cable projects with a key global customer, with 5-6 already launched and others launching over the next 12 months.
- →The company highlighted three major recent contracts:
- → - Largest EV cable contract: annualized value of USD 5 million, lifetime USD 37 million.
- → - European luxury OEM: USD 2 million/year, lifetime USD 12 million.
- → - Japanese OEM: USD 1.2 million/year, lifetime USD 6 million.
- →Additional new businesses and order inflows remain strong across multiple global plants (Matamoros, China, Morocco).
- →US business is ramping up, with pilot store counts expected to triple or quadruple next year.
- →Discussions ongoing with multiple prospects amid industry consolidation and insolvency situations for some competitors, signaling further potential order wins in the next 3-6 months.
- →Overall, global business order wins are driving 22-24% growth despite a flat overall market.
Capex plans
No information is provided regarding the same in the latest conference call.
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