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Should investors look at these leaders of auto ancillary pack?

A strong recovery in demand helped Wabco and Bosch post robust financial performance for Q3 FY21. Top line saw a strong expansion on a year-on-year (YoY) basis for both

March 10, 2021 / 09:12 AM IST
Should investors look at these leaders of auto ancillary pack?

Bosch | Representative Image

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

Two leaders from the auto ancillary pack  – Wabco (CMP: Rs 6,310, M Cap: Rs 11,969 crore) and Bosch (CMP: Rs 15,040, M Cap: Rs 44,358 crore) -- have come out strongly from the pandemic-led disruptions. A strong recovery in demand helped these companies post robust financial performance for Q3 FY21. Topline witnessed a strong growth on a year-on-year (YoY) basis for both companies. Wabco posted a strong operating margin, whereas Bosch witnessed contraction in operating margin on raw material...

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