Buy GNA Axles; target of Rs 490: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on GNA Axles

GNA’s performance during Q3FY2021 was phenomenal, registering net earnings growth of 248.6% y-o-y, driven by 29% growth in sales and 628 bps expansion in EBITDA margin at 17.4%. We expect GNA’s earnings to continue to grow strongly in the medium term, aided by CV and tractor industries. The stock trades attractively at P/E multiple of 11.5x and EV/EBITDA multiple of 5.4x its FY2023E estimates.

Outlook

We maintain our Buy rating on GNA Axles Limited (GNA) with a revised PT of Rs. 490, factoring in better multiples on a strong traction in business outlook.

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