Buy Automotive Axles, target price Rs 1730: ICICI Direct

ICICI Direct has buy call on Automotive Axles with a target price of Rs 1730. The current market price of Automotive Axles is Rs 1463.2. Time period given by analyst is one year when Automotive Axles Ltd. price can reach defined target.

Automotive Axles Ltd., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 2210.50 Crore) operating in Auto Ancillaries sector.

Automotive Axles Ltd. key Products/Revenue Segments include Automobile Products & Accessories, Scrap & Others, Other Operating Revenue and Wind Power for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 376.07 Crore, up 21.32 % from last quarter Total Income of Rs 309.98 Crore and up 37.41 % from last year same quarter Total Income of Rs 273.68 Crore. Company reported net profit after tax of Rs 19.80 Crore in latest quarter.

Investment Rationale
The brokerage retains BUY rating given robust growth prospects in the CV space

Promoter/FII Holdings
Promoters held 71.04 per cent stake in the company as of 31-Dec-2021, while FIIs owned 1.43 per cent, DIIs 13.5 per cent.