Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  

| More

IPO Review - Sansera Engineering Ltd - ICICI Direct

Posted On: 2021-09-13 12:37:50 (Time Zone: UTC)

Sansera Engineering (SEL), incorporated in 1981, is an engineering-led integrated manufacturer of complex & critical precision engineered components for automotive (2-W, PV, CV) & non-automotive (aerospace, off-road, agriculture, etc.) sectors. Its automotive product range includes connecting rod, rocker arm, crankshaft, gear shifter fork and stem comp among others. SEL has 16 manufacturing facilities (15 - India, 1 - Sweden).

Investment Rationale

Leading precision engineered component supplier

SEL has a track record of developing complex and critical precision engineered components for the automotive sector over multiple decades while its capabilities now extend to several non-automotive sectors. Precision components such as connecting rods, crankshafts & rocker arms are manufactured using complex engineering processes and require a high level of precision and adherence to high standards of quality given their criticality to automotive systems. The company is among top 10 global suppliers of connecting rods for light vehicles (2.3% CY20 global market share, up from 0.9% in CY15) and CVs (3% CY20 global market share vs. 0.9% in CY15). In India, it is the largest supplier of connecting rods, rocker arms and gear shifter forks to 2-W OEMs and the largest supplier of connecting rods and rocker arms to PV OEMs. Going forward, SEL believes it will benefit from the trend of OEMs (a) increasingly outsourcing not just forged precision components but the entire forging and machining operations of these components as well as (b) consolidating their suppliers.

Diversified business model

In terms of user industries, automotive and non-automotive accounted for ~88.5%, 11.5% of SEL's FY21 revenues, respectively. Within automotive, 2-W contributed ~50%, with PV, CV contributing ~24%, ~13%, respectively. SEL derived ~65% of FY21 revenues from India and the rest from Europe, US and others. The company's clientele includes nine of the top 10 Indian 2-W OEMs, India's leading PV OEM, six of the global top 10 light vehicle makers and three of the global top 10 M&HCV OEMs. Top five clients comprised 59% of revenues in FY21. SEL's three chief products, connecting rods, rocker arms and crank shaft assemblies, accounted for ~39.7%, ~19.5% and ~17.2% of sales, respectively, in the past year.

For details, click on the link below: Link to the report

Source: Equity Bulls

Click here to send ur comments or to

Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only., its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.

Other Headlines:

Auto Sector Update - Will EVs impact the 'EV' - Part Deux - HDFC Securities

Automobile Sector - Monthly Quick View - Aug'21 - Mixed Performance across Segments - Reliance Securities

Axis Securities initiating coverage on ICICI Securities

Company Update - Minda Corporation - Q1FY22 - ICICI Direct

Quant Pick - PVR Ltd - ICICI Direct

Quant Pick - ONGC - ICICI Direct

Peak in the headline wholesale inflation is behind us - WPI August 2021 - Acuité Ratings

Sansera Engineering - IPO - Strong Outlook with Steady Cash Flow - Reliance Securities

APL Apollo Tubes - Journey from a semi-commodity player to a branded one - HDFC Securities

Nazara Technologies Ltd - Upbeat in medium-term, Uncertain over Long-term - YES Securities

Overall index is still 0.3% lower than the pre-pandemic levels - IIP July 2021

YES SECURITIES on Monthly General Insurance & Mutual Funds Data

India urban logistics spaces expected to cross 7 million sq. ft by 2022: JLL

Neogen Chemicals - Breaking into the next orbit with a bang - HDFC Securities

Gladiator Stocks - Bharti Airtel Ltd - ICICI Direct

Gladiator Stocks - V-Guard - ICICI Direct

Balkrishna Industries - Industry export growth accelerates - ICICI Securities

HDFC Life Insurance - Exide Life Acquisition - Maintain ADD - YES Securities

Gladiator Stocks - Grindwell Norton - ICICI Direct

Gladiator Stocks - Godrej Properties - ICICI Direct

Monthly Auto Volumes - August 2021 - ICICI Direct

Stock Tales - Easy Trip Planners - ICICI Direct

IPO Review - Vijaya Diagnostic Centre Ltd - ICICI Direct

AU Small Finance Bank - Attrition at top level remains key challenge; business momentum sustained in Jul/Aug'21 - ICICI Securities

Gladiator Stocks - State Bank of India - ICICI Direct

Gladiator Stocks - PNC Infratech - ICICI Direct

Vijaya Diagnostic Centre Ltd - IPO Note - YES Securities

Consumer Durables Sector - Lockdown mars performance yet again - Institutional Research Desk at HDFC Securities

75% of the employees today want to be in office at least once a week as compared to 52% in October 2020: JLL

Gladiator Stocks - Safari Industries - ICICI Direct

Gladiator Stocks - Interglobe Aviation - ICICI Direct

IPO Review - Ami Organics Ltd - ICICI Direct

Q1FY22 GDP - 31st Aug 2021 - Acuité Ratings & Research

Avanti Feeds - Higher input prices hurt margins - ICICI Securities

Company Update - Restructuring - Aarti Industries - ICICI Direct

Q1FY22 Company Update - MM Forgings - ICICI Direct

Company Update - Arvind Fashions - ICICI Direct

Zomato - Can margins and multiples surprise? - ICICI Securities

Ujjivan Small Finance Bank - Top management change and lumpy provisioning concern to weigh on valuation in near term - ICICI Securities

Bharat Dynamics - Guided missile systems to drive orderbook and profit growth - ICICI Securities

Economy - Continued accommodation necessary despite inflationary risks: MPC minutes - ICICI Securities

InterGlobe Aviation - Annual report analysis: Liquidity management remains the mainstay in anticipation of traffic recovery - ICICI Securities

General insurance - Health remains dominant growth driver; Strong all-round performance by Bajaj Allianz - ICICI Securities

Earnings Wrap Q1FY22: Resilient earnings, limited impact of second Covid wave - ICICI Direct

Fine Organic Industries Results Review - In-line performance - HDFC Securities

Power Plus Sector Update - July witnessed strong ~10% generation growth - HDFC Securities

Information Technology Sector Update - 'Hit Refresh' - HDFC Securities

Maintain ADD on JK Cement - Healthy performance - HDFC Securities

Maintain BUY on Star Cement - Margin recovers on pricing gain - HDFC Securities

Maintain BUY on Sadbhav Engineering - Long road to recovery - HDFC Securities

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020