ICICI Direct has given Buy recommendation for SKF India with a target price of Rs. 4920 in its research report issued on Jul 28, 2022
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 4920 i.e. 40x P/E on FY24E EPS.