Target: ₹600

CMP: ₹426

We attended the plant visit of SJS Enterprises in Bangalore and interacted with the Management.

Following are the key takeaways:

With an impressive plant setup, SJS’s Bangalore plant is its main manufacturing facility responsible for about 75 per cent of its sales. This facility was established in 2018 and spread over 235,000 sq.ft. area.

This facility produces all of its existing parts (Decals, Body Graphics, Appliques, Dials, Lux badges, Domes, Overlays, IMLs/IMDs, Lens mask assembly etc.) except Chrome plating. It accommodates around 1,000 workforce over two shifts. This facility includes Design Studio, Decal Shop Floor, IMD Shop Floor, Moulding Shop, Ink Lab, Inspection dept. etc.

This facility has additional land (about 30 per cent) to undertake further expansion, if required. On the vacant land the Company has installed Solar panels which generate 1/3rd power requirements of the SJS plant. This facility is highly flexible allowing interchanging capacity and product mix based on customer requirements. We found the plant layout neat, clean and highly organised.

SJS 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 per cent CAGR over FY21-26 wherein industry size to become 2.5x.