Moneycontrol PRO
Upcoming Webinar:Join us for 'The Future Techshot' on Sept 22, 10:30am to gain insights into role of tech in streamlining businesses. Register Now!

Buy Ramkrishna Forgings: target of Rs 940: Sharekhan

Sharekhan is bullish on Ramkrishna Forgings has recommended buy rating on the stock with a target price of Rs 940 in its research report dated July 26, 2021.

July 27, 2021 / 11:41 AM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Ramkrishna Forgings

Q1FY2021 results were ahead of our expectations, aided by EBITDA margin expansion on a richer product mix and price hikes. Earnings to report a strong 146% CAGR over FY2021-FY2023E, driven by a 26.5% CAGR in domestic revenue, 38.6% CAGR in export revenue, and a 170 bps rise in EBITDA margin over FY2021-FY2023E. The stock trades at P/E multiple of 15.4x and EV/EBITDA multiple of 7.2x its FY2023E estimates.


We maintain our Buy rating on Ramkrishna Forgings Limited (RKFL) with a revised PT of Rs. 940, led by a strong commercial vehicle (CV) business outlook in India, Europe, and North America and an earnings upgrade.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jul 27, 2021 11:41 am

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark