Sharekhan has given Buy recommendation for Schaeffler India with a target price of Rs. 10,678 in its research report issued on Jan 04, 2022
Sharekhan’s research report on Schaeffler India
SIL is expected to perform strongly in Q4CY21E, with record sales and profitability growth, led by order wins and margin improvement. Exports is a high-growth area for SIL, given the pedigree of its parent company. Greater localisation and focus on market share gains would aid revenue and EBITDA growth going forward. We expect its earnings to report a 64% CAGR during CY2020-CY2022E. Stock trades at a P/E of 37.9x and EV/EBITDA of 22.4x its CY2022E estimates.
We retain our Buy recommendation on Schaeffler India Limited (SIL) with a revised PT of Rs. 10,678, led by a strong outlook for its automotive and industrial businesses, and better multiples.
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At 15:19 hrs Schaeffler India was quoting at Rs 9,450.75, up Rs 162.15, or 1.75 percent.
It has touched an intraday high of Rs 9,510.60 and an intraday low of Rs 9,176.10.
It was trading with volumes of 831 shares, compared to its thirty day average of 1,413 shares, a decrease of -41.18 percent.
In the previous trading session, the share closed up 1.28 percent or Rs 117.70 at Rs 9,288.60.
The share touched its 52-week high Rs 9,382.00 and 52-week low Rs 4,260.00 on 04 January, 2022 and 02 February, 2021, respectively.
Currently, it is trading 0.73 percent below its 52-week high and 121.85 percent above its 52-week low.
Market capitalisation stands at Rs 29,543.74 crore.