SUPRAJIT
Suprajit Engineering share price & financials
- Price
- ₹466.55
- Market cap
- ₹7.2k Cr
- Calls analysed
- 7
Suprajit Engineering Limited Q1 FY27
What went well
- Consolidated revenue of ₹1,070 crores, up 24% YoY, marking the highest ever quarterly operating revenue.
- Consolidated operational EBITDA of ₹129 crores, up 57% YoY, with EBITDA margin expanding significantly.
- SED division reported robust growth with revenue up 48% and EBITDA up 100%, driven by new projects in digital clusters and electronic throttle grip.
What to watch
- Stand-alone operational EBITDA for the India business (ICM) recorded a degrowth of 0.3% to ₹60 crores.
- ICM margins declined from 15% to 13% due to raw material price increases and wage inflation.
What Suprajit Engineering Limited does
Suprajit Engineering makes mechanical control cables (for doors, seats, fuel/charging lids, hoods, parking brakes, HVAC, windows in cars and brake/throttle/seat/speedometer/clutch cables in two-wheelers and off-highway vehicles) and automotive halogen lamps, sold to OEMs and the aftermarket across India, the US and Europe. It runs manufacturing plants across India and overseas subsidiaries in Mexico, the USA, Hungary, Morocco, China, Germany, Canada and the UK, along with a Luxembourg warehouse, serving customers on onshore, near-shore and off-shore models. Beyond cables and lamps, its Suprajit Technology Center develops 'beyond cable' product lines — digital instrument clusters, throttle position sensors, electro-mechanical actuators and braking/ABS systems — that are manufactured through its Sensors, Electronics & Displays (SED) division. The company has grown its overseas cable business partly through acquisitions (including the 2023 Stahlschmidt Cable Systems/SCS deal), alongside organic technology partnerships such as with Italy's Blubrake for ABS.
Segments
- India Cables & Mechatronics (ICM, formerly DCD)
- Global Cables & Mechatronics (GCM, formerly SCD; now includes the SCS acquisition)
- Phoenix Lighting & Electricals (PLE, formerly PLD)
- Sensors, Electronics & Displays (SED)
- Global market position — control cables
- World's largest manufacturer of control cables by volume
- Control cable production volume
- 300+ million cables produced annually
- Global market position — halogen lamps
- World's 3rd-largest halogen lamp manufacturer by volume
- Halogen lamp production volume
- 80+ million lamps produced annually
- Manufacturing plants in India
- 18 plants — Karnataka (7), Chennai (2), Noida (2), Haridwar & Pantnagar (2), Vapi & Sanand (2), Chakan (1), Manesar (1), Bhiwadi (1)
- International manufacturing/operations footprint
- Mexico, USA, UK, Hungary, Morocco, China, Germany, Canada, plus a warehouse in Luxembourg
Guidance record · Q1 FY27
what the last two calls moved 23 tracked 6 delivered 4 missed 13 open- Group Revenue Growth on track said Q4 FY26 Promised: Double-digit Q1 FY27: Consolidated revenue grew 24% YoY. Guidance reiterated.
- Group Revenue Growth (ex-SCS) missed said Q4 FY25 Promised: Double-digit Q1 FY27: Past target, not discussed.
- China EV Customer Market Share on track said Q4 FY26 Promised: 20% in 2-3 years Q1 FY27: Progressing with new project launches for the Chinese OEM; 5-6 projects already launched, with more to come over the next 12 months.
All 23 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 24.0%, net profit up 8.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 834 | 832 | 877 | 863 | 941 +13% | 979 +18% | 1,042 +19% | 1,070 +24% |
| EBITDA | 63 | 97 | 87 | 82 | 100 +59% | 95 −2% | 120 +38% | 129 +57% |
| Net profit | 0 | 33 | 27 | 48 | 51 | 13 −61% | 71 +163% | 52 +8% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +6.6% 1Y
1Y: ₹458.5 on 10 Sept 2025 → ₹488.9. High ₹531.25 (11 Aug 2026), low ₹397.25 (19 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.1%
- 7 Aug
- Q4 FY26
- +6.4%
- 26 May
- Q3 FY26
- −5.9%
- 10 Feb
- Q2 FY26
- +3.4%
- 11 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 11.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 10.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.8k Cr | ₹2.9k Cr | ₹3.3k Cr | ₹3.8k Cr |
| Operating profit | ₹301 Cr | ₹322 Cr | ₹333 Cr | ₹397 Cr |
| Operating margin | 10.9% | 11.1% | 10.2% | 10.4% |
| Interest | ₹35 Cr | ₹52 Cr | ₹60 Cr | ₹63 Cr |
| Depreciation | ₹96 Cr | ₹105 Cr | ₹121 Cr | ₹150 Cr |
| Net profit | ₹152 Cr | ₹167 Cr | ₹98 Cr | ₹183 Cr |
| Net margin | 5.5% | 5.8% | 3.0% | 4.8% |
| Cash from operations | ₹239 Cr | ₹249 Cr | ₹185 Cr | ₹171 Cr |
| Free cash flow | ₹148 Cr | ₹158 Cr | ₹74 Cr | ₹54 Cr |
| ROCE | 15.0% | 12.0% | 11.0% | 15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹976 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.4k Cr | ₹1.4k Cr |
| Borrowings | ₹346 Cr | ₹337 Cr | ₹718 Cr | ₹708 Cr | ₹927 Cr | ₹993 Cr |
| Other liabilities | ₹391 Cr | ₹336 Cr | ₹529 Cr | ₹550 Cr | ₹756 Cr | ₹794 Cr |
| Total liabilities | ₹1.7k Cr | ₹1.8k Cr | ₹2.5k Cr | ₹2.6k Cr | ₹3.0k Cr | ₹3.2k Cr |
| Fixed assets | ₹598 Cr | ₹588 Cr | ₹807 Cr | ₹852 Cr | ₹1.1k Cr | ₹1.1k Cr |
| Capital work in progress | ₹5 Cr | ₹10 Cr | ₹28 Cr | ₹7 Cr | ₹55 Cr | ₹38 Cr |
| Investments | ₹320 Cr | ₹262 Cr | ₹445 Cr | ₹513 Cr | ₹250 Cr | ₹248 Cr |
| Other assets | ₹804 Cr | ₹897 Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.7k Cr | ₹1.8k Cr |
| Total assets | ₹1.7k Cr | ₹1.8k Cr | ₹2.5k Cr | ₹2.6k Cr | ₹3.0k Cr | ₹3.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −0.57 pp while DIIs added +0.28 pp. The shareholder count shrank 10% to 68,962.
- Promoters
- 45.3%
- FIIs
- 6.5%
- DIIs
- 17.0%
- Public
- 31.2%
Since Jun 2025
- FIIs −0.57 pp
- DIIs +0.28 pp
- Promoters +0.17 pp
How it drifted, 12 quarters
Over this window the public fell from 34.8% to 31.2% — −3.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 44.6%, FIIs 4.8%, DIIs 15.9%, Public 34.8%.Dec '23: Promoters 44.6%, FIIs 4.6%, DIIs 16.2%, Public 34.6%.Mar '24: Promoters 44.6%, FIIs 4.8%, DIIs 17.5%, Public 33.1%.Jun '24: Promoters 44.6%, FIIs 5.8%, DIIs 16.9%, Public 32.6%.Sep '24: Promoters 44.6%, FIIs 6.3%, DIIs 17.2%, Public 31.9%.Dec '24: Promoters 44.6%, FIIs 6.8%, DIIs 17.2%, Public 31.3%.Mar '25: Promoters 44.6%, FIIs 7.0%, DIIs 17.2%, Public 31.1%.Jun '25: Promoters 45.1%, FIIs 7.1%, DIIs 16.7%, Public 31.1%.Sep '25: Promoters 45.1%, FIIs 6.6%, DIIs 17.1%, Public 31.1%.Dec '25: Promoters 45.1%, FIIs 6.8%, DIIs 17.1%, Public 31.0%.Mar '26: Promoters 45.3%, FIIs 6.5%, DIIs 17.2%, Public 31.1%.Jun '26: Promoters 45.3%, FIIs 6.5%, DIIs 17.0%, Public 31.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Axis Mutual Fund Trustee Ltd. Mutual fund newly disclosed 1.01% held
- Samiha Grewal Mishra +0.05 pp 1.31% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Suprajit Engineering Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Supriyajith Family Trust | 38.60% | unchanged |
| HDFC Small Cap Fund (Various Schemes) Mutual fund | 9.78% | unchanged |
| DSP Small Cap Fund Mutual fund | 4.37% | unchanged |
| K Ajith Kumar Rai | 2.79% | unchanged |
| India Capital Fund Limited FPI fund | 1.59% | unchanged |
| Emerging Securities Pvt Ltd | 1.38% | unchanged |
| ICICI PRUDENTIAL - Various Schemes Mutual fund | 1.34% | −0.25 pp |
| Samiha Grewal Mishra | 1.31% | +0.05 pp |
| Supriya Ajithkumar Rai | 1.26% | unchanged |
| Kula Ramprasad Rai | 1.04% | unchanged |
| Deepa Ranjit Rau | 1.01% | unchanged |
| Axis Mutual Fund Trustee Ltd. Mutual fund | 1.01% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in SUPRAJIT
Filings to Jul 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹659 Cr
- 4 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹598 Cr · 1.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹598 Cr | held | Dec '22 |
| HDFC Transportation and Logistics Fund HDFC Mutual Fund | ₹31 Cr | held | Nov '23 |
| HDFC Equity Savings Fund HDFC Mutual Fund | ₹15 Cr | held | Mar '24 |
| HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund | ₹15 Cr | held | Dec '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +23%
- vs est. average cost
- Held by funds
- ₹659 Cr
- 4 schemes · ≈ 8.5% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹598 Cr · 1.4% of that fund
Shares held by these funds +53%
Aug '23 1.31 cr shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹489, this stock must grow earnings at 28% every year for 7 years. Our analysis caps realistic growth at ~7%. At that growth it is worth ₹161 — downside of 67%.
- Growth the price implies
- 28.0% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 6.4% a year
- net profit, FY23–FY26 · EPS 6.6%
- The gap
- 0.2 pp
- -67% downside if it only repeats history
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Suprajit Engineering Limited
Guides on how to read this kind of business and the numbers that matter.