Equity Analysis /
India

IN : Schaeffler India Ltd - Export growth momentum continues

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

    Strong export sales growth aided outperformance in 1QCY22 sales & margins. Realization of new product wins, in our view, to drive content per vehicle. Reallocation of a few product lines from Europe to India, and a diversified geographic spread will continue to drive export growth from India. Reiterate Add rating on the stock with a higher target price of Rs2,440.