Sharekhan's research report on Schaeffler India
Reported APAT at Rs 247 crore against estimate of Rs 256 crore (up 5.1% y-o-y), while EBITDA margins contracted by 40 bps y-o-y to 18.1% (against estimate of 18%). Exports to Europe remain weak though those to other destinations are performing well.
Outlook
We retain a Buy rating with a revised PT of Rs. 4170 in anticipation of sustenance in domestic demand, success in the high-value EV business, increased localisation, and expectation of improvement in the aftermarket segment. Stock trades at a P/E multiple of40.8x and EV/EBITDA multiple of 26.4 its CY2026 estimates.
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