Moneycontrol
May 18, 2018 03:54 PM IST | Source: Moneycontrol.com

Buy SKF India; target of Rs 2225: ICICI Direct

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.

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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.

Outlook

Accordingly, 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.

For all recommendations report, click here


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