For
the quarter ending Sept 2023, consolidated Net sales (including other operating income) of Bosch has increased 12.79% to Rs 4130.1 crore compared to quarter ended Sept 2022. Sales of Automotive products segment has gone up 13.34% to Rs 3,570.80 crore (accounting for 86.37% of total sales). Sales of Others segment has gone up 128.03% to Rs 389.70 crore (accounting for 9.43% of total sales). Sales of Consumer Goods segment fell 50.77% to Rs 173.70 crore (accounting for 4.20% of total sales). Inter-segment sales came down from Rs 12.60 crore to Rs 4.10 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 11.54% to Rs 498.60 crore. PBIT of Automotive products segment rose 17.12% to Rs 446.00 crore (accounting for 89.45% of total PBIT). PBIT of Others segment fell 10.29% to Rs 24.40 crore (accounting for 4.89% of total PBIT). PBIT of Consumer Goods segment fell 27.69% to Rs 28.20 crore (accounting for 5.66% of total PBIT).
PBIT margin of Automotive products segment rose from 12.09% to 12.49%. PBIT margin of Others segment fell from 15.92% to 6.26%. PBIT margin of Consumer Goods segment rose from 11.05% to 16.23%. Overall PBIT margin fell from 12.17% to 12.06%.
Operating profit margin has jumped from 11.78% to 11.90%, leading to 13.94% rise in operating profit to Rs 491.30 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.22% to 22.79%. Purchase of finished goods cost rose from 40.32% to 44.29%. Employee cost increased from 7.60% to 8.05%. Other expenses fell from 15.96% to 13.08%. Other income rose 3.07% to Rs 154.2 crore. PBIDT rose 11.14% to Rs 645.5 crore. Provision for interest rose 542.11% to Rs 12.2 crore. Loan funds declined from Rs 61.60 crore as of 30 September 2022 to Rs 46.00 crore as of 30 September 2023. Inventories rose to Rs 1,893.90 crore as of 30 September 2023 from Rs 1,691.60 crore as of 30 September 2022. Sundry debtors were higher at Rs 1,992.10 crore as of 30 September 2023 compared to Rs 1,639.70 crore as of 30 September 2022. Cash and bank balance declined from Rs 2,673.30 crore as of 30 September 2022 to Rs 2,388.80 crore as of 30 September 2023. Investments rose to Rs 5,044.00 crore as of 30 September 2023 from Rs 4,980.40 crore as of 30 September 2022 .
PBDT rose 9.40% to Rs 633.3 crore. Provision for depreciation rose 10.23% to Rs 101.3 crore. Fixed assets increased to Rs 2,004.60 crore as of 30 September 2023 from Rs 1,976.20 crore as of 30 September 2022.
Profit before tax grew 9.24% to Rs 532.00 crore. Share of profit/loss was 25% lower at Rs 0.9 crore. Provision for tax was expense of Rs 318.1 crore, compared to Rs 114.6 crore. Effective tax rate was 24.14% compared to 23.47%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 167.61% to Rs 999.80 crore. Equity capital stood at Rs 29.50 crore as of 30 September 2023 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 2023 ,compared to 70.54% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Bosch has increased 15.02% to Rs 8288.5 crore. Sales of Automotive products segment has gone up 14.93% to Rs 7,194.00 crore (accounting for 86.68% of total sales). Sales of Others segment has gone up 163.01% to Rs 765.10 crore (accounting for 9.22% of total sales). Sales of Consumer Goods segment fell 49.27% to Rs 340.70 crore (accounting for 4.10% of total sales). Inter-segment sales came down from Rs 16.20 crore to Rs 11.30 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 7.84% to Rs 983.80 crore. PBIT of Automotive products segment rose 4.92% to Rs 842.50 crore (accounting for 85.64% of total PBIT). PBIT of Others segment rose 6.38% to Rs 55.00 crore (accounting for 5.59% of total PBIT). PBIT of Consumer Goods segment rose 49.83% to Rs 86.30 crore (accounting for 8.77% of total PBIT).
PBIT margin of Automotive products segment fell from 12.83% to 11.71%. PBIT margin of Others segment fell from 17.77% to 7.19%. PBIT margin of Consumer Goods segment rose from 8.58% to 25.33%. Overall PBIT margin fell from 12.63% to 11.85%.
Operating profit margin has declined from 12.22% to 11.57%, leading to 8.93% rise in operating profit to Rs 959.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.38% to 22.15%. Purchase of finished goods cost rose from 42.18% to 43.44%. Employee cost increased from 7.62% to 7.79%. Other expenses fell from 15.52% to 15.02%. Other income rose 65.66% to Rs 341.6 crore. PBIDT rose 19.69% to Rs 1300.8 crore. Provision for interest rose 681.82% to Rs 43 crore. Loan funds declined from Rs 61.60 crore as of 30 September 2022 to Rs 46.00 crore as of 30 September 2023. Inventories rose to Rs 1,893.90 crore as of 30 September 2023 from Rs 1,691.60 crore as of 30 September 2022. Sundry debtors were higher at Rs 1,992.10 crore as of 30 September 2023 compared to Rs 1,639.70 crore as of 30 September 2022. Cash and bank balance declined from Rs 2,673.30 crore as of 30 September 2022 to Rs 2,388.80 crore as of 30 September 2023. Investments rose to Rs 5,044.00 crore as of 30 September 2023 from Rs 4,980.40 crore as of 30 September 2022 .
PBDT rose 16.32% to Rs 1257.8 crore. Provision for depreciation rose 23.42% to Rs 193.4 crore. Fixed assets increased to Rs 2,004.60 crore as of 30 September 2023 from Rs 1,976.20 crore as of 30 September 2022.
Profit before tax grew 15.12% to Rs 1,064.40 crore. Share of profit/loss was 8.33% higher at Rs 1.3 crore. Provision for tax was expense of Rs 441.6 crore, compared to Rs 218.1 crore. Effective tax rate was 23.86% compared to 23.56%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 99.11% to Rs 1,409.10 crore.
Equity capital stood at Rs 29.50 crore as of 30 September 2023 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 2023 ,compared to 70.54% as of 30 September 2022 .
Cash flow from operating activities decreased to Rs 226.20 crore for YTD ended September 2023 from Rs 995.00 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 105.70 crore, compared to Rs 313.10 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of Bosch has increased 26.72% to Rs 14929.3 crore. Sales of Automotive products segment has gone up 28.68% to Rs 12,916.10 crore (accounting for 86.14% of total sales). Sales of Others segment has gone up 22.92% to Rs 675.30 crore (accounting for 4.50% of total sales). Sales of Consumer Goods segment rose 10.91% to Rs 1,403.40 crore (accounting for 9.36% of total sales). Inter-segment sales came down from Rs 70.50 crore to Rs 65.50 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 24.30% to Rs 1,825.80 crore. PBIT of Automotive products segment rose 24.61% to Rs 1,581.20 crore (accounting for 86.60% of total PBIT). PBIT of Others segment fell 2.27% to Rs 129.00 crore (accounting for 7.07% of total PBIT). PBIT of Consumer Goods segment rose 70.00% to Rs 115.60 crore (accounting for 6.33% of total PBIT).
PBIT margin of Automotive products segment fell from 12.64% to 12.24%. PBIT margin of Others segment fell from 24.03% to 19.10%. PBIT margin of Consumer Goods segment rose from 5.37% to 8.24%. Overall PBIT margin fell from 12.39% to 12.18%.
Operating profit margin has declined from 12.41% to 12.10%, leading to 23.55% rise in operating profit to Rs 1,806.70 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.98% to 21.69%. Purchase of finished goods cost rose from 39.84% to 42.03%. Employee cost decreased from 8.85% to 7.60%. Other expenses rose from 16.21% to 16.68%. Other income rose 21.08% to Rs 473.2 crore. PBIDT rose 23.03% to Rs 2279.9 crore. Provision for interest fell 58.13% to Rs 12.1 crore. Loan funds declined from Rs 72.90 crore as of 31 March 2022 to Rs 53.20 crore as of 31 March 2023. Inventories rose to Rs 1,902.90 crore as of 31 March 2023 from Rs 1,729.30 crore as of 31 March 2022. Sundry debtors were higher at Rs 1,902.90 crore as of 31 March 2023 compared to Rs 1,534.30 crore as of 31 March 2022. Cash and bank balance rose to Rs 2,057.10 crore as of 31 March 2023 from Rs 1,705.60 crore as of 31 March 2022. Investments declined from Rs 5,521.30 crore as of 31 March 2022 to Rs 5,017.60 crore as of 31 March 2023.
PBDT rose 24.32% to Rs 2267.8 crore. Provision for depreciation rose 18.90% to Rs 385.6 crore. Fixed assets increased to Rs 2,096.80 crore as of 31 March 2023 from Rs 1,816.90 crore as of 31 March 2022.
Profit before tax grew 25.49% to Rs 1,882.20 crore. Share of profit/loss was 7.69% lower at Rs 1.2 crore. Provision for tax was expense of Rs 457.9 crore, compared to Rs 282.9 crore. Effective tax rate was 24.31% compared to 18.84%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 17.01% to Rs 1,425.50 crore.
Equity capital stood at Rs 29.50 crore as of 31 March 2023 to Rs 29.50 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.54% as of 31 March 2023 ,compared to 70.54% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 1,213.70 crore for year ended March 2023 from Rs 268.50 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 641.00 crore, compared to Rs 461.30 crore during the year ended March 2022.
Other Highlights
Board
Approved the disinvestment/sale of 34,64,316 equity
shares representing 16.90% of paid-up share capital of Hinduja Renewables, as
investment has become financially not viable pursuant to change in the
regulatory framework in State of Maharashtra.