Sharekhan's research report on Bosch
With a strong hold on gasoline, CNG and diesel now, Bosch is targeting to expand in EV and hydrogen energy segments Bosch is expected to be a key beneficiary of the uptick in domestic CV industry and implementation of stringent emission norms. Despite flat revenue growth sequentially, the adjusted EBITDA margin improved (+80 bps q-o-q) on gross margin expansion.
Outlook
We retain a Buy on Bosch Limited with an unchanged PT of Rs.19,795, on expectation of rise in content per vehicle and an improvement in profitability.
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