Sharekhan's research report on Schaeffler India
Schaeffler India Limited (Schaeffler) reported EBITDA at Rs. 342 crore against our estimate of Rs. 342.4 crore on 2.3% higher-than-expected topline. Management has shared an optimistic outlook for the domestic market and indicated its concern on export volume growth in H2CY2024. The wind energy segment has started showing early signs of green shoots.
Outlook
We maintain our Buy rating on Schaeffler India with a revised PT of Rs. 3,406 in expectation of sustenance in domestic demand, success in the high-value EV business, increased localisation, and traction in the aftermarket segment.
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