Buy SKF India, target price Rs 4585: HDFC Securities

HDFC Securities has buy call on SKF India with a target price of Rs 4585. The current market price of SKF India Ltd. is Rs 4147.55.

Time period given by analyst is three months when SKF India Ltd. price can reach defined target.

SKF India Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 20344.96 Crore) operating in Auto Ancillaries sector.


SKF India Ltd. key Products/Revenue Segments include Bearings & Components, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 975.62 Crore, up 39.39 % from last quarter Total Income of Rs 699.94 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company has reported net profit after tax of Rs 117.64 Crore in latest quarter.

Investment Rationale
Presently, in an attempt to show upside breakout of the hurdle at Rs 4160-4170 levels. A sustainable move above this area could have sharp positive impact on the stock price ahead.

Promoter/FII Holdings
Promoters held 52.58 per cent stake in the company as of 30-Sep-2021, while FIIs owned 6.45 per cent, DIIs 28.74 per cent.