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You are here : IndiaNotes >> Research & Analysis >> Companies >> SKF India Ltd. >> Research

SKF India Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 17 Mar, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • SKF India Ltd is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training.
  • The company achieved a turnover of Rs.7151.00 mn for Q3 FY17 as against Rs.6577.50 mn in Q3 FY16, up by 8.72%.
  • During the 3rd quarter, net profit increased by 16.14% to Rs.653.40 mn from Rs.562.60 mn in the corresponding quarter ending of previous year.
  • During the 3rd quarter, EBIDTA stood at Rs. 1136.80 mn as against Rs. 1004.10 mn in the corresponding period of the previous year.
  • Profit before tax (PBT) stood at Rs.1017.60 mn in Q3 FY17 as against Rs.874.70 mn in the corresponding quarter of the previous year, up by 16.34%.
  • During 9M FY17, net sales of the company increased to Rs. 2130860 mn from Rs. 19714.60 mn in 9M FY16, up by 11.13%.
  • EPS of the company stood at Rs.12.39 in Q3 FY17 against Rs. 10.67 in the corresponding quarter of the previous year.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 8% and 14% over 2015 to 2018E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 1457.60, the stock P/E ratio is at 30.82 x FY17E and 27.46 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 47.29 and Rs. 53.09 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 8% and 14% over 2014 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 16.08 x for FY17E and 14.44 x for FY18E.
  • Price to Book Value of the stock is expected to be at 4.23 x and 3.66 x for FY17E and FY18E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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