Sharekhan's research report on Bosch
Bosch Limited (Bosch) continues to lay emphasis on future technologies, including electric vehicles, foraying into new markets and expanding its retail reach. Support from parent company and investment in R&D would be key drivers to tap emerging opportunities in EVs and connected vehicles in India. We expect Bosch’s earnings to clock a 26.4% CAGR during FY22-FY24E, driven by a 20% revenue CAGR and a 240-bps rise in EBITDA margin expansion to 14.8% in FY24E from 12.4% in FY22.
Outlook
We retain Buy with a revised PT of Rs. 19,135, factoring in a recovery in automotive demand across segments, access to robust e-mobility technology, and improving content per vehicle. The stock trades below its historical average at a P/E of 24.8x and EV/EBITDA of 16.8x its FY24E estimates.
More Info
At 11:47 hrs Bosch was quoting at Rs 16,248.60, down Rs 134.65, or 0.82 percent.
It has touched an intraday high of Rs 16,422.65 and an intraday low of Rs 16,219.55.
It was trading with volumes of 453 shares, compared to its thirty day average of 793 shares, a decrease of -42.88 percent.
In the previous trading session, the share closed down 0.76 percent or Rs 125.70 at Rs 16,383.25.
The share touched its 52-week high Rs 19,244.50 and 52-week low Rs 12,940.10 on 10 November, 2021 and 12 May, 2022, respectively.
Currently, it is trading 15.57 percent below its 52-week high and 25.57 percent above its 52-week low.
Market capitalisation stands at Rs 47,923.04 crore.
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