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Buy SKF India; target of Rs 3720: ICICI Direct

ICICI Direct is bullish on SKF India has recommended buy rating on the stock with a target price of Rs 3720 in its research report dated May 12, 2022.

May 14, 2022 / 01:53 PM IST
 
 
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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%.



Outlook


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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For all recommendations report, click here


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first published: May 14, 2022 01:53 pm
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