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Buy SKF India; target of Rs 4920: ICICI Direct

ICICI Direct is bullish on SKF India has recommended buy rating on the stock with a target price of Rs 4920 in its research report dated July 28, 2022.

July 29, 2022 / 07:01 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 4920 i.e. 40x P/E on FY24E EPS.


For all recommendations report, click here

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SKF India ( - 280722 - icici

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first published: Jul 29, 2022 07:01 pm
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