Bosch: Investors should wait for recovery, consistent growth trends

Analysts at ICICI Securities expect the company to outperform the underlying market due to rising revenues per vehicle, new order wins and focus on being a solutions provider

Despite a muted June quarter performance, auto component maker Bosch outperformed sector volumes for the second consecutive quarter. The gains for India’s largest auto parts supplier by market capitalisation came on the back of higher supply of content per vehicle, increasing its 

market share. 

However, a sharp decline in volumes of automakers meant its revenue fell 64 per cent year-on-year (YoY) to Rs 991 crore. The slowdown in the automotive industry and the impact of Covid-19 on operations led to the decline in sales. The powertrain solutions segment was a major disappointment, with its revenue declining 78 per cent. This was offset