For
the quarter ending June 2022, consolidated net sales (including other operating income) of Bosch has increased 45.05% to Rs 3544.4 crore compared to quarter ended june 2021. Sales of Automotive products segment has gone up 44.73% to Rs 3,109.20 crore (accounting for 87.63% of total sales). Sales of Others segment has gone up 38.14% to Rs 120.00 crore (accounting for 3.38% of total sales). Sales of Consumer Goods segment rose 52.15% to Rs 318.80 crore (accounting for 8.99% of total sales). Inter-segment sales rose Rs 1.22 crore to Rs 3.60 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 47.56% to Rs 465.30 crore. PBIT of Automotive products segment rose 54.41% to Rs 422.20 crore (accounting for 90.74% of total PBIT). PBIT of Others segment fell 46.01% to Rs 24.50 crore (accounting for 5.27% of total PBIT). PBIT of Consumer Goods reported profit of Rs 18.60 crore compared to loss of Rs 3.48 crore.
PBIT margin of Automotive products segment rose from 12.73% to 13.58%. PBIT margin of Others segment fell from 52.24% to 20.42%. PBIT margin of Consumer Goods segment rose from negative 1.66% to 5.83%. Overall PBIT margin rose from 12.90% to 13.11%.
Operating profit margin has jumped from 12.55% to 12.68%, leading to 46.58% rise in operating profit to Rs 449.40 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.11% to 20.49%. Purchase of finished goods cost rose from 41.71% to 44.10%. Employee cost decreased from 9.47% to 7.64%. Other expenses rose from 14.98% to 15.08%. Other income fell 42.83% to Rs 56.6 crore. PBIDT rose 24.75% to Rs 506 crore. Provision for interest rose 12.50% to Rs 3.6 crore.
PBDT rose 24.85% to Rs 502.4 crore. Provision for depreciation fell 3.43% to Rs 64.8 crore.
Profit before tax grew 30.51% to Rs 437.60 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 103.5 crore, compared to Rs 75.5 crore. Effective tax rate was 23.65% compared to 22.48%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 28.35% to Rs 334.10 crore. Promoters’ stake was 70.54% as of 30 June 2022 ,compared to 70.54% as of 30 June 2021 .
Full year results analysis.
Net sales (including other operating income) of Bosch has increased 21.26% to Rs 11781.6 crore. Sales of Automotive products segment has gone up 19.81% to Rs 10,037.30 crore (accounting for 84.69% of total sales). Sales of Others segment has gone up 35.89% to Rs 549.40 crore (accounting for 4.64% of total sales). Sales of Consumer Goods segment rose 33.21% to Rs 1,265.40 crore (accounting for 10.68% of total sales). Inter-segment sales rose Rs 16.00 crore to Rs 70.50 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 245.39% to Rs 1,472.40 crore. PBIT of Automotive products segment rose 521.10% to Rs 1,268.90 crore (accounting for 86.18% of total PBIT). PBIT of Others segment rose 21.20% to Rs 135.50 crore (accounting for 9.20% of total PBIT). PBIT of Consumer Goods segment fell 38.29% to Rs 68.00 crore (accounting for 4.62% of total PBIT).
PBIT margin of Automotive products segment rose from 2.44% to 12.64%. PBIT margin of Others segment fell from 27.65% to 24.66%. PBIT margin of Consumer Goods segment fell from 11.60% to 5.37%. Overall PBIT margin rose from 4.38% to 12.42%.
Operating profit margin has jumped from 11.95% to 12.37%, leading to 25.53% rise in operating profit to Rs 1,456.90 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.67% to 22.98%. Purchase of finished goods cost rose from 36.37% to 39.84%. Employee cost decreased from 9.44% to 8.89%. Other expenses fell from 18.76% to 16.21%. Other income fell 21.39% to Rs 396.2 crore. PBIDT rose 11.32% to Rs 1853.1 crore. Provision for interest rose 106.43% to Rs 28.9 crore. Loan funds rose to Rs 72.90 crore as of 31 March 2022 from Rs 53.80 crore as of 31 March 2021. Inventories rose to Rs 1,729.30 crore as of 31 March 2022 from Rs 1,298.50 crore as of 31 March 2021. Sundry debtors were higher at Rs 1,526.70 crore as of 31 March 2022 compared to Rs 1,387.40 crore as of 31 March 2021. Cash and bank balance declined from Rs 2,450.60 crore as of 31 March 2021 to Rs 1,705.60 crore as of 31 March 2022. Investments rose to Rs 5,521.30 crore as of 31 March 2022 from Rs 5,149.60 crore as of 31 March 2021 .
PBDT rose 10.52% to Rs 1824.2 crore. Provision for depreciation fell 5.01% to Rs 324.3 crore. Fixed assets increased to Rs 1,816.90 crore as of 31 March 2022 from Rs 1,728.50 crore as of 31 March 2021.
Profit before tax grew 14.57% to Rs 1,499.90 crore. Provision for tax was expense of Rs 282.9 crore, compared to Rs 84.6 crore. Effective tax rate was 18.84% compared to 14.93%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 152.76% to Rs 1,218.30 crore.
Equity capital stood at Rs 29.50 crore as of 31 March 2022 to Rs 29.50 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.54% as of 31 March 2022 ,compared to 70.54% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 269.30 crore for year ended March 2022 from Rs 834.90 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 466.50 crore, compared to Rs 199.80 crore during the year ended March 2021.
Other Highlights
In Q1 FY23, Powertrain Solutions division
increased by 47.4% YoY. The Automotive Aftermarket division also surpassed its
peak with an increase of 61.3% due to a low base in Q1 FY22. The Beyond
Mobility businesses recorded an increase of 53.6% YoY mainly due to growth in
Consumer Goods division by 48.6% YoY.