For
the quarter ending Dec 2023, consolidated Net sales (including other operating income) of Bosch has increased 14.90% to Rs 4205.2 crore compared to quarter ended Dec 2022. Sales of Automotive products segment has gone up 12.73% to Rs 3,652.20 crore (accounting for 86.37% of total sales). Sales of Others segment has gone up 74.02% to Rs 333.60 crore (accounting for 7.89% of total sales). Sales of Consumer Goods segment fell 5.19% to Rs 242.80 crore (accounting for 5.74% of total sales). Inter-segment sales came down from Rs 27.80 crore to Rs 23.40 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 43.15% to Rs 595.80 crore. PBIT of Automotive products segment rose 42.32% to Rs 517.90 crore (accounting for 86.93% of total PBIT). PBIT of Others segment rose 6.85% to Rs 39.00 crore (accounting for 6.55% of total PBIT). PBIT of Consumer Goods segment rose 146.20% to Rs 38.90 crore (accounting for 6.53% of total PBIT).
PBIT margin of Automotive products segment rose from 11.23% to 14.18%. PBIT margin of Others segment fell from 19.04% to 11.69%. PBIT margin of Consumer Goods segment rose from 6.17% to 16.02%. Overall PBIT margin rose from 11.29% to 14.09%.
Operating profit margin has jumped from 11.03% to 13.75%, leading to 43.27% rise in operating profit to Rs 578.40 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 21.46% to 21.71%. Purchase of finished goods cost rose from 38.63% to 40.65%. Employee cost increased from 7.42% to 7.94%. Other expenses fell from 21.49% to 15.95%. Other income rose 17.91% to Rs 154.7 crore. PBIDT rose 37.05% to Rs 733.1 crore. Provision for interest rose 95% to Rs 3.9 crore.
PBDT rose 36.84% to Rs 729.2 crore. Provision for depreciation rose 8.31% to Rs 117.3 crore.
Profit before tax grew 44.11% to Rs 611.90 crore. Share of profit/loss was 75% lower at Rs 0.2 crore. Provision for tax was expense of Rs 152.7 crore, compared to Rs 105.7 crore. Effective tax rate was 22.76% compared to 24.85%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 62.09% to Rs 518.20 crore. Promoters’ stake was 70.54% as of 31 December 2023 ,compared to 70.54% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Bosch has increased 14.98% to Rs 12493.7 crore. Sales of Automotive products segment has gone up 14.18% to Rs 10,846.20 crore (accounting for 86.57% of total sales). Sales of Others segment has gone up 20.91% to Rs 583.50 crore (accounting for 4.66% of total sales). Sales of Consumer Goods segment rose 18.43% to Rs 1,098.70 crore (accounting for 8.77% of total sales). Inter-segment sales came down from Rs 44.00 crore to Rs 34.70 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 18.90% to Rs 1,579.60 crore. PBIT of Automotive products segment rose 16.58% to Rs 1,360.40 crore (accounting for 86.12% of total PBIT). PBIT of Others segment rose 6.58% to Rs 94.00 crore (accounting for 5.95% of total PBIT). PBIT of Consumer Goods segment rose 70.57% to Rs 125.20 crore (accounting for 7.93% of total PBIT).
PBIT margin of Automotive products segment rose from 12.28% to 12.54%. PBIT margin of Others segment fell from 18.28% to 16.11%. PBIT margin of Consumer Goods segment rose from 7.91% to 11.40%. Overall PBIT margin rose from 12.18% to 12.61%.
Operating profit margin has jumped from 11.82% to 12.31%, leading to 19.72% rise in operating profit to Rs 1,537.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.07% to 22.00%. Purchase of finished goods cost rose from 40.98% to 42.50%. Employee cost increased from 7.55% to 7.85%. Other expenses fell from 17.55% to 15.33%. Other income rose 47.10% to Rs 496.3 crore. PBIDT rose 25.42% to Rs 2033.9 crore. Provision for interest rose 525.33% to Rs 46.9 crore.
PBDT rose 23.10% to Rs 1987 crore. Provision for depreciation rose 17.25% to Rs 310.7 crore.
Profit before tax grew 24.24% to Rs 1,676.30 crore. Share of profit/loss was 25% lower at Rs 1.5 crore. Provision for tax was expense of Rs 594.3 crore, compared to Rs 323.8 crore. Effective tax rate was 23.57% compared to 23.96%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 87.59% to Rs 1,927.30 crore.
Promoters’ stake was 70.54% as of 31 December 2023 ,compared to 70.54% as of 31 December 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
Declared an Interim Dividend of Rs 205 per share for
the financial year 2023-24 on equity shares of Rs 10 each. Record Date fixed
for the purpose is 23.02.2024.
Company Approved investment of an amount
not exceeding Rs 43.70 million in AMP Energy C&l Eight, by way of purchase
and/or subscribing to Equity Share Capital, in one or more tranches,
constituting 10.87% of Equity Share Capital corresponding to the contracted
capacity in the 27.5 MWdc Group Captive Solar Power plant in the state of
Karnataka.