ICICI Securities Ltd | Retail Equity Research Bosch's Q4FY18 revenue (adjusting excise duty) came in at | 3,158 crore (up 22.7% YoY), in line with our estimate of | 3,155 crore. According to the management, revenue from auto segment grew 23.1% YoY while non-auto revenue grew 22.1% YoY. Further domestic, export growth was at 24.2%, 9% YoY, respectively EBITDA margins came in at 21.9% (down 544 bps YoY; up 732 bps QoQ) vs. estimate of 21.6%. We believe margins are not comparable...