ICICI Direct's research report on SKF India
SKF India is one of the leading bearing manufacturers known for its deep groove ball bearings and has a presence across the industrial & auto sector. Auto & industrial have been contributing 50-50% to SKF’s topline over the years, with a slight tilt on either side depending on macros • SKF boasts a debt free balance sheet, coupled with consistent RoCE & RoICs upwards of 20%.
We continue to remain positive and retain our BUY rating on the stock. We value SKF at Rs 3720 i.e. 36x P/E on FY24E EPS.
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