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Nirmal Bang Report
We initiate coverage on Sansera Engineering Ltd. with a “Buy” rating and a Sep’26E target price of Rs 1,667, implying an upside of ~24% on current market price.
Sansera is an integrated player engaged in the manufacturing of various critical components and assemblies in the precision engine forged components for four-wheelers, two-wheelers and commerical vehicles.
It also manufactures components for the aerospace, defence and electric vehicle industries as part of its diversification efforts.
Key catalysts reinforcing our positive stance are:
Strategic expansion into new products to drive product mix improvement as well as to diversify away from ICE related components.
Strong order wins provide revenue visibility.
China+1 strategy, strong engineering capabilities and low-cost operation to drive export opportunities.
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