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IDBI Capital Report
SJS Enterprises Ltd. is a leading decorative aesthetic parts supplier to auto and consumer durables companies in India. Indian aesthetics products industry is expected to grow at 20% compound annual growth rate over FY21-26E wherein industry size to become 2.5 times.
SJS Enterprises having most comprehensive product portfolio and superior profitability among its peers is well placed to benefit from industry tailwinds.
However the real kicker is expected from export business which is expected to grow rapidly. The company has a high growth-low capex -high return on capital employed – cash generating business model.
We expect SJS Enterprises to report 24% sales CAGR and 34% profit after tax CAGR over FY22-24.
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