IN : Bosch Ltd - Margin recovery elusive

The 4Q normalised EPS increase of 20% to Rs123 was in line with our estimate. Lower other expenses offset higher raw material costs (+340bp qoq). We maintain our below-consensus EPS estimate, as we expect EBITDA margin pressure to sustain due to limited localisation drive benefits. We reiterate our Reduce rating with P/E-based TP maintained at Rs11,921.

Most Viewed See latest

This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...

Full Tellimer disclaimers