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Buy Gabriel India: target of Rs 160: Sharekhan

Sharekhan is bullish on Gabriel India has recommended buy rating on the stock with a target price of Rs 160 in its research report dated May 26, 2021.

June 10, 2021 / 11:14 AM IST
 
 
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Sharekhan's research report on Gabriel India


Q4FY2021 results were strong, aided by EBITDA margin expansion despite the sharp rise input cost. Net earnings are set to report a 52.9% CAGR over FY2021E-FY2023E, driven by a 17.3% CAGR during FY2021E-FY2023E and a 250 bps rise in EBITDA margin. The stock trades at attractive P/E multiple of 14x and EV/EBITDA multiple of 7.6x its FY2023E estimates.


Outlook


We maintain our Buy rating on Gabriel India Limited (Gabriel) with an unchanged PT of Rs. 160, factoring in recovery of automotive demand after wave-2 of COVID recedes and its preparedness to benefit from adoption of e-2W in India.


For all recommendations report, click here


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Broker Research
first published: May 27, 2021 12:44 pm

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