Sharekhan has given Buy recommendation for GNA Axles with a target price of Rs. 841 in its research report issued on Oct 25, 2022
Sharekhan’s research report on GNA Axles
Q2FY2023 results exceeded expectations on higher sales, leading to upbeat revenue, EBITDA, and PAT by 8.6%, 12.6% and 18.8%, respectively. GNA’s growth prospects remain positive, led by strong momentum in the CV and farm sector sales in India and globally. The stock is trading below its historical average multiples at P/E of 10x and EV/EBITDA of 5.7x its FY2024E.
Outlook
We maintain our Buy rating on GNA Axles Limited (GNA) with a revised PT of Rs. 841, led by a positive outlook for the CV and farm sectors and an attractive valuation.