Bosch Q4 Review - Above Estimates; Strong Traction In Revenue Continues: Motilal Oswal

A Robert Bosch GmbH parking sensor column stands on display. (Photographer Krisztian Bocsi/Bloomberg)

Bosch Q4 Review - Above Estimates; Strong Traction In Revenue Continues: Motilal Oswal

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Motilal Oswal Report

Bosch Ltd.'s revenue continued to grow faster than underlying industry growth in Q4 FY21.

While the current situation will impact demand in the near term, we expect growth to rebound faster on account of strong tractor demand, addition of the two-wheeler segment, and higher content.

The stock price largely reflects all the negatives, but there are no major re-rating catalysts on the anvil.

We cut our FY22E earnings per share by 4% to account for near-term challenges, while maintaining our FY23E earnings estimate.

Click on the attachment to read the full report:

Motilal Oswal Bosch Q4FY21 Result Update.pdf

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