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Bosch: Promising outlook, available at a reasonable valuation

Smoother chip supply, softer raw material prices, encouraging industry opportunities to fuel growth of this auto ancillary

December 06, 2022 / 10:57 AM IST
Bosch: Promising outlook, available at a reasonable valuation


PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Strong growth in top line, driven by automotive segment Demand outlook promising Leadership position driven by technological innovation EVs, digital solutions, and advanced electronic solutions new growth avenues Trading at an attractive valuation; accumulate for the long term Bosch (CMP: Rs 17,230; M Cap: Rs 50,820 crore), a leading auto ancillary company whose fortunes are linked to the CV segment, posted an in-line set of numbers in Q2 FY23. While its net revenue continues to register strong growth, margin contraction has stabilised. Q2FY23 performance (image) During...

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