Equity Analysis /
India

IN : Schaeffler India Ltd - CY21 annual report analysis

    Sachin Maniar
    Abhishek Joshi
    CGS-CIMB
    17 April 2022
    Published by

    CY21 robust sales growth was aided by new products, market penetration, and network expansion. Higher margins in traded goods and exports helped. Investment strategy is in place for higher localization, diversification/new products and exports which gel well for earnings traction. Reiterate Add rating on the stock with a higher target price of Rs2,200.