Buy GNA Axles: target of Rs 948: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on GNA Axles

GNA is well placed to benefit from sharp improvement in commercial vehicle sales across geographies and healthy outlook for the farm sector. GNA’s earnings are likely to post a robust 38.6% CAGR from FY2021-FY2023E, driven by a 27.2% revenue CAGR and a 50 bps improvement in EBITDA margin. The stock trades at P/E multiple of 13x and EV/EBITDA multiple of 7.6x of its FY2023E estimates.

Outlook

We maintain our Buy rating on GNA Axles Limited (GNA) with a revised PT of Rs. 948, factoring continuing traction in business outlook, upgrade in earnings, and better target multiples.

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