Buy Automotive Axles, target price Rs 870: ICICI Direct

ICICI Direct has given buy rating to Automotive Axles with a target price of Rs 870. The share price moved down by 1.66 per cent from its previous close of Rs 778.85. The stock’s last traded price is Rs 765.95.

Automotive Axles Ltd., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 1174.65 Crore) operating in Auto Ancillaries sector.

Automotive Axles Ltd. key Products/Revenue Segments include Automobile Products & Accessories which contributed Rs 1879.54 Crore to Sales Value (96.93 % of Total Sales), Scrap & Others which contributed Rs 54.52 Crore to Sales Value (2.81 % of Total Sales), Other Operating Revenue which contributed Rs 3.69 Crore to Sales Value (0.19 % of Total Sales) and Wind Power which contributed Rs 1.30 Crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2019.


Financials
For the quarter ended 30-06-2020, the company reported a Standalone sales of Rs 38.85 Crore, down 76.98 % from last quarter Sales of Rs 168.76 Crore and down 90.72 % from last year same quarter Sales of Rs 418.45 Crore Company has reported net profit after tax of Rs -23.04 Crore in latest quarter.