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Tuesday, August 16, 2011

SKF India Ltd:-Buy/sell/,growth prospects and recommendation,news and results,target price and analysis,view and outlook,multibagger

Scripscan:SKF India Ltd

Story:SKF India Limited provides products, solutions, and services in the areas of rolling bearings, seals, mechatronics, and lubrications systems in India.Its products include bearing housings, such as split plummer block housings, one-piece plummer block housings, flanged housings, and take-up housings; maintenance and lubrication products; bearing housing and accessories; condition monitoring products; and hydraulic seals, which include seal designs, piston seals, rod seals, wiper seals, guide rings and guide strips, spring activated seals, O-rings, and back-up rings.The company also offers industrial shaft seals comprising radial shaft seals, mechanical seals, V-ring seals, axial clamp seals, sealing and spacing washers, and wear sleeves; plain bearings consisting of spherical plain bearings and rod bearings, and composite dry sliding bearings and FW bushings; ball bearings, roller bearing, and two-bearing units; rolling bearings; and power transmission products, including belts, pulleys, chains, sprockets, couplings, and bushings and hubs. In addition, its linear motion product range comprises ball and roller screws, such as precision ball screws, planetary roller screws, and recirculating roller screws; linear guiding systems consisting of linear ball bearings, precision rail guides, profile rail guides, and slides and positioning tables; and electromechanical actuators, including industrial and medical actuators.Further, the company’s products in the area of mechatronics consist of actuation systems, linear motion products, and motion control products. Additionally, it provides services, including technical support, engineering consultancy and research and development, maintenance strategy, predictive maintenance, maintenance and logistic, condition monitoring, and training services. The company serves a range of industries, including manufacturing, infrastructure, energy, and transportation.The company is a 53.6% subsidiary of USD 8 billion Sweden-headquartered AB SKF.The company has presented a good set of numbers for second quarter ended 30th June 2011. Net sales rose 18% on a YoY at Rs.596 core. Raw material cost was up 26% and this gave a flattish EBIDTA at Rs.77 crore. EBIDTA margin was down at 13% v/s 15% in Q2CY11. It ended the quarter with a net profit of Rs.51 crore, up 6.25%. For H1CY11, net profit is at Rs.112 crore as against Rs.177 crore posted for CY10. Clearly, this year too, the company will surpass its numbers.Its reserves as at 30th June 2011 stood at a whopping Rs.904 crore. The company has a equity base at Rs.52.73 and this gives us an annualised EPS of Rs.42 and this discounts the current price by around 15.8 times.An MNC which has made India its base for exports makes a good long term buy.

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