ICICI Direct has buy call on SKF India with a target price of Rs 2890. The current market price of SKF India Ltd. is Rs 2355.25.
SKF India Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 11647.58 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-12-2020, the company reported a Standalone sales of Rs 818.72 Crore, up 16.42 % from last quarter Sales of Rs 703.24 Crore and up 15.75 % from last year same quarter Sales of Rs 707.34 Crore Company reported net profit after tax of Rs 128.11 Crore in latest quarter.
Investment Rationale
Taking cognisance from the recent auto numbers, recovery in industrials, the brokerage revises estimates upwards. It introduces FY23E numbers and pencil in 17%, 24.5% & 25.9% revenue, EBIDTA & PAT CAGR for FY21E-23E, respectively. Hence, with improved outlook and enhance visibility, it upgrades the stock from HOLD to BUY valuing the stock at 33x FY23E earnings with a target price of Rs 2890/share (earlier Rs 1615).
SKF India Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 11647.58 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-12-2020, the company reported a Standalone sales of Rs 818.72 Crore, up 16.42 % from last quarter Sales of Rs 703.24 Crore and up 15.75 % from last year same quarter Sales of Rs 707.34 Crore Company reported net profit after tax of Rs 128.11 Crore in latest quarter.
Investment Rationale
Taking cognisance from the recent auto numbers, recovery in industrials, the brokerage revises estimates upwards. It introduces FY23E numbers and pencil in 17%, 24.5% & 25.9% revenue, EBIDTA & PAT CAGR for FY21E-23E, respectively. Hence, with improved outlook and enhance visibility, it upgrades the stock from HOLD to BUY valuing the stock at 33x FY23E earnings with a target price of Rs 2890/share (earlier Rs 1615).
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(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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