Why does Nomura see a 40% upside in this auto-component maker?
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Sansera Engineering’s diversifying away from auto-sector is helping it
February 08, 2023 / 12:04 PM IST
Key risks to the stock include accelerated electrification in the auto segment and high dependence on few clients (Representational Photo by Taras Makarenko/Pexels)
Auto-components maker Sansera Engineering will gain significantly from the electric version of two-wheelers and other products as it plan to diversify into non-auto sectors, according to Nomura.
The brokerage sees an upside of 40.1 percent in the stock.
Also Read: Sansera Engineering’s standalone revenue up 17.7% YoY in Q3FY23
“Sansera is present across key two-wheeler EVs and should be a key beneficiary as the EV volume picks up. While we expect a modest 5 percent on-year growth in 2W ICE segment revenue over FY24/25, the ramp-up in aerospace, defence, PV exports and new orders in domestic PV should drive ~21 percent/16 percent overall revenue growth in FY24/25 and diversify its mix further,” wrote Nomura analysts in their latest report.
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