ICICI Direct is bullish on SKF India has recommended buy rating on the stock with a target price of Rs 2225 in its research report dated May 10, 2018.
ICICI Direct' research report on SKF India
SKF India (SKF) reported decent Q4FY18 results though the numbers were slightly lower than our estimates Revenues grew 7.6% YoY to | 703.6 crore. We expected revenue of | 738 crore for the quarter.
OutlookAccordingly, we expect SKF to deliver sales, EBITDA and PAT CAGR of 11%, 11.3% and 10.1%, respectively, in FY18-20E. We continue to value the company at 32x P/E on FY20E EPS of | 69.8 to arrive at a target price of | 2225/share. We maintain BUY on SKF.
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