Buy Bosch, target price Rs 20970: ICICI Direct

ICICI Direct has buy call on Bosch with a target price of Rs 20970. The current market price of Bosch is Rs 18044.8.

Bosch, incorporated in the year 1951, is a Large Cap company (having a market cap of Rs 53203.72 Crore) operating in Auto Ancillaries sector.

Bosch key Products/Revenue Segments include Automotive Products, Sale of services, Rental Income, Others, Export Incentives, Scrap and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 3791.10 Crore, down -.53 % from last quarter Total Income of Rs 3811.20 Crore and up 18.87 % from last year same quarter Total Income of Rs 3189.38 Crore. Company has reported net profit after tax of Rs 318.90 Crore in latest quarter.

The company’s top management includes Mr.Markus Bamberger, Mr.Karsten Mueller, Mr.Pawan Kumar Goenka, Mr.S V Ranganath, Mr.Bhaskar Bhat, Dr.Gopichand Katragadda, Ms.Hema Ravichandar, Mr.Stefan Hartung, Mr.Sandeep Nelamangala, Mr.S C Srinivasan, Mr.Soumitra Bhattacharya, Ms.Karin Gabriele Gilges. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 3 Crore shares outstanding.

Investment Rationale
The brokerage retains its BUY rating on the stock amid expectations of healthy volume growth in the M&HCV as well as UV space.

Promoter/FII Holdings
Promoters held 70.54 per cent stake in the company as of 31-Dec-2022, while FIIs owned 3.73 per cent, DIIs 16.41 per cent.