India's Bosch falls 3% as analysts flag margin concerns after Q4 results

BOSCH

12/05/2023 08:36

** Shares of Bosch Ltd  BOSH.NS  fall 2.95% to 18,900 rupees
    ** Slide after brokerage Motilal Oswal rules out possibility
of margin recovery for automotive technology services provider
for next three years
    ** Motilal ("Neutral") maintains TP at 17,850 rupees,
implied downside of 8%
    ** ICICI Securities (downgrades to "reduce") says BOSH set
to face commercial vehicles industry down-cycle headwinds from
FY25, which will limit its earnings growth outlook
    ** BOSH reports 14% Y/Y rise in net profit in March qtr, but
core profit margin contracts to 12.85% vs 13.32% Y/Y
    ** Since results on Wednesday, BOSH has shed over 2%
    ** Trading volume is 25,295 shares as of 12:52 p.m. IST,
nearly same as 30-day avg - Refinitiv data
    ** Of five analysts tracking BOSH, two maintain "buy", two
suggest "sell" and one recommends "hold"; median TP is 18,175
rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))