For
the quarter ending sept 2022, consolidated net sales (including other operating income) of Bosch has increased 25.48% to Rs 3661.6 crore compared to quarter ended sept 2021. Sales of Automotive products segment has gone up 29.31% to Rs 3,150.50 crore (accounting for 85.75% of total sales). Sales of Others segment has gone up 18.11% to Rs 170.90 crore (accounting for 4.65% of total sales). Sales of Consumer Goods segment fell 0.25% to Rs 352.80 crore (accounting for 9.60% of total sales). Inter-segment sales came down from Rs 16.80 crore to Rs 12.60 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 20.39% to Rs 447.00 crore. PBIT of Automotive products segment rose 32.36% to Rs 380.80 crore (accounting for 85.19% of total PBIT). PBIT of Others segment fell 27.08% to Rs 27.20 crore (accounting for 6.09% of total PBIT). PBIT of Consumer Goods segment fell 15.77% to Rs 39.00 crore (accounting for 8.72% of total PBIT).
PBIT margin of Automotive products segment rose from 11.81% to 12.09%. PBIT margin of Others segment fell from 25.78% to 15.92%. PBIT margin of Consumer Goods segment fell from 13.09% to 11.05%. Overall PBIT margin fell from 12.65% to 12.17%.
Operating profit margin has declined from 12.26% to 11.78%, leading to 20.58% rise in operating profit to Rs 431.20 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 23.18% to 24.22%. Purchase of finished goods cost rose from 37.85% to 40.32%. Employee cost decreased from 9.07% to 7.60%. Other expenses fell from 17.07% to 15.96%. Other income rose 20.35% to Rs 149.6 crore. PBIDT rose 20.52% to Rs 580.8 crore. Provision for interest rose 26.67% to Rs 1.9 crore. Loan funds declined from Rs 75.50 crore as of 30 September 2021 to Rs 61.60 crore as of 30 September 2022. Inventories rose to Rs 1,691.60 crore as of 30 September 2022 from Rs 1,688.89 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,639.70 crore as of 30 September 2022 compared to Rs 1,336.72 crore as of 30 September 2021. Cash and bank balance rose to Rs 2,673.30 crore as of 30 September 2022 from Rs 2,138.07 crore as of 30 September 2021. Investments rose to Rs 4,980.40 crore as of 30 September 2022 from Rs 4,813.04 crore as of 30 September 2021 .
PBDT rose 20.50% to Rs 578.9 crore. Provision for depreciation rose 10.86% to Rs 91.9 crore. Fixed assets increased to Rs 1,976.20 crore as of 30 September 2022 from Rs 1,691.72 crore as of 30 September 2021.
Profit before tax grew 22.52% to Rs 487.00 crore. Share of profit/loss was 300% higher at Rs 1.2 crore. Provision for tax was expense of Rs 114.6 crore, compared to Rs 25.5 crore. Effective tax rate was 23.47% compared to 6.41%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 0.35% to Rs 373.60 crore. Equity capital increased from Rs 29.49 crore as of 30 September 2021 to Rs 29.50 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.54% as of 30 September 2022 ,compared to 70.54% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Bosch has increased 34.40% to Rs 7206 crore. Sales of Automotive products segment has gone up 36.53% to Rs 6,259.70 crore (accounting for 86.67% of total sales). Sales of Others segment has gone up 25.66% to Rs 290.90 crore (accounting for 4.03% of total sales). Sales of Consumer Goods segment rose 19.23% to Rs 671.60 crore (accounting for 9.30% of total sales). Inter-segment sales came down from Rs 18.10 crore to Rs 16.20 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 32.87% to Rs 912.30 crore. PBIT of Automotive products segment rose 43.11% to Rs 803.00 crore (accounting for 88.02% of total PBIT). PBIT of Others segment fell 37.48% to Rs 51.70 crore (accounting for 5.67% of total PBIT). PBIT of Consumer Goods segment rose 34.58% to Rs 57.60 crore (accounting for 6.31% of total PBIT).
PBIT margin of Automotive products segment rose from 12.24% to 12.83%. PBIT margin of Others segment fell from 35.72% to 17.77%. PBIT margin of Consumer Goods segment rose from 7.60% to 8.58%. Overall PBIT margin fell from 12.76% to 12.63%.
Operating profit margin has declined from 12.39% to 12.22%, leading to 32.60% rise in operating profit to Rs 880.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.14% to 22.38%. Purchase of finished goods cost rose from 39.80% to 42.18%. Employee cost decreased from 9.27% to 7.62%. Other expenses fell from 16.01% to 15.52%. Other income fell 7.66% to Rs 206.2 crore. PBIDT rose 22.47% to Rs 1086.8 crore. Provision for interest rose 17.02% to Rs 5.5 crore. Loan funds declined from Rs 75.50 crore as of 30 September 2021 to Rs 61.60 crore as of 30 September 2022. Inventories rose to Rs 1,691.60 crore as of 30 September 2022 from Rs 1,688.89 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,639.70 crore as of 30 September 2022 compared to Rs 1,336.72 crore as of 30 September 2021. Cash and bank balance rose to Rs 2,673.30 crore as of 30 September 2022 from Rs 2,138.07 crore as of 30 September 2021. Investments rose to Rs 4,980.40 crore as of 30 September 2022 from Rs 4,813.04 crore as of 30 September 2021 .
PBDT rose 22.50% to Rs 1081.3 crore. Provision for depreciation rose 4.54% to Rs 156.7 crore. Fixed assets increased to Rs 1,976.20 crore as of 30 September 2022 from Rs 1,691.72 crore as of 30 September 2021.
Profit before tax grew 26.17% to Rs 924.60 crore. Share of profit/loss was 50% higher at Rs 1.2 crore. Provision for tax was expense of Rs 218.1 crore, compared to Rs 101.1 crore. Effective tax rate was 23.56% compared to 13.78%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 11.89% to Rs 707.70 crore.
Equity capital increased from Rs 29.49 crore as of 30 September 2021 to Rs 29.50 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.54% as of 30 September 2022 ,compared to 70.54% as of 30 September 2021 .
Cash flow from operating activities has turned positive Rs 995.00 crore for YTD ended September 2022 from negative Rs 207.40 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 313.10 crore, compared to Rs 100.50 crore during the YTD ended September 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.
Management Comments :
Soumitra Bhattacharya, Managing Director of
Bosch and President of the Bosch Group in India said “The surge in demand on
the back of the continued recovery of the automotive market has contributed to
a strong performance this quarter. We have witnessed robust topline growth,
posting consistent profits over a low base in the same quarter of the previous
year. Although supplies in semiconductor have eased out relatively, the supply
chain ecosystem itself continues to remain fragile. Despite these uncertainties
including rising input costs, we expect to build on the strong performance of
this quarter,”
“We are happy to inaugurate our inhouse
developed CRIN line in Nashik to cater to the Indian commercial vehicle market,
in line with Government of India’s vision of Atmanirbhar Bharat. Addressing the
changing regulatory emission norms, this line will further increase our share
of local production.”