Bosch Ltd

Bosch Ltd

₹ 28,839 0.23%
27 Feb 3:25 p.m.
About

Bosch Ltd has presence across automotive technology, industrial technology, consumer goods and energy and building technology. It manufactures and trades in products such as diesel and gasoline fuel injection systems, automotive aftermarket products, industrial equipment, electrical power tools, security systems and industrial and consumer energy products and solutions.[1]

Key Points

Mobility Solutions (58% of revenues) [1]
1. Powertrain Solutions : It offers integrated solutions in the market segments - electric vehicles, passenger cars, Commercial vehicles, off-road vehicles, etc.
It aims at becoming the leading provider of products and solutions in the diversified powertrain sector ranging from gasoline and diesel injection to electrified drives with battery and fuel technologies. [2]

  1. Automotive Aftermarket : Bosch Automotive Aftermarket in India is the largest aftermarket chain that acts as a multi-brand car service center. [3] The division provides aftermarket and repair shops across India with technology and solutions related to auto diagnosis and repairs. It also provides a wide range of spare parts for vehicles and repair solutions.
    [4]
  • Market Cap 85,058 Cr.
  • Current Price 28,839
  • High / Low 29,295 / 17,801
  • Stock P/E 50.5
  • Book Value 3,929
  • Dividend Yield 1.65 %
  • ROCE 17.4 %
  • ROE 13.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 73.5%

Cons

  • Stock is trading at 7.44 times its book value
  • The company has delivered a poor sales growth of 5.01% over past five years.
  • Company has a low return on equity of 11.8% over last 3 years.
  • Earnings include an other income of Rs.1,476 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3,030 3,218 2,444 2,918 3,109 3,311 3,544 3,662 3,660 4,063 4,158 4,130 4,205
2,672 2,599 2,137 2,560 2,752 2,870 3,095 3,230 3,256 3,541 3,690 3,639 3,627
Operating Profit 358 619 307 358 358 441 450 431 404 522 468 491 578
OPM % 12% 19% 13% 12% 12% 13% 13% 12% 11% 13% 11% 12% 14%
-35 117 99 124 80 87 57 150 131 136 188 939 214
Interest 7 4 3 2 17 7 4 2 2 5 31 12 4
Depreciation 97 92 67 83 85 89 65 92 108 121 92 101 117
Profit before tax 219 640 335 398 336 432 438 487 425 533 532 1,317 671
Tax % 15% 25% 23% 6% 30% 19% 24% 24% 25% 25% 23% 24% 23%
186 482 260 372 235 351 334 372 319 399 409 999 518
EPS in Rs 62.98 163.43 88.09 126.13 79.64 118.87 113.31 126.26 108.13 135.28 138.67 338.68 175.67
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
8,166 8,659 8,757 12,086 9,701 10,435 11,690 12,085 9,842 9,718 11,782 14,929 16,557
6,654 7,310 7,468 10,104 7,823 8,473 9,597 9,931 8,358 8,555 10,319 13,120 14,497
Operating Profit 1,512 1,350 1,289 1,981 1,878 1,963 2,093 2,154 1,483 1,163 1,462 1,810 2,060
OPM % 19% 16% 15% 16% 19% 19% 18% 18% 15% 12% 12% 12% 12%
320 369 353 537 623 912 418 600 -105 -241 391 471 1,476
Interest 0 6 0 14 13 27 3 13 10 14 29 12 51
Depreciation 258 367 384 548 386 456 467 402 383 341 324 386 431
Profit before tax 1,574 1,346 1,257 1,956 2,102 2,391 2,041 2,339 985 567 1,500 1,882 3,053
Tax % 29% 29% 30% 32% 27% 27% 33% 32% 34% 15% 19% 24%
1,123 958 885 1,338 1,531 1,741 1,371 1,598 650 482 1,217 1,424 2,325
EPS in Rs 357.56 305.20 281.76 426.03 487.72 570.47 449.14 541.81 220.32 163.59 412.70 482.99 788.30
Dividend Payout % 38% 20% 20% 20% 17% 29% 22% 19% 48% 70% 51% 99%
Compounded Sales Growth
10 Years: 6%
5 Years: 5%
3 Years: 15%
TTM: 17%
Compounded Profit Growth
10 Years: 5%
5 Years: 0%
3 Years: 9%
TTM: 22%
Stock Price CAGR
10 Years: 12%
5 Years: 9%
3 Years: 25%
1 Year: 61%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 12%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 31 31 31 31 31 30 30 30 30 30 30 30 30
Reserves 4,697 5,542 6,263 7,316 9,504 8,769 9,951 9,097 9,240 9,793 10,658 10,983 11,559
307 230 183 111 50 0 0 0 74 54 73 53 46
2,096 2,098 2,414 2,973 2,848 3,000 3,946 3,583 3,977 4,898 4,650 5,194 4,883
Total Liabilities 7,131 7,902 8,891 10,431 12,433 11,800 13,927 12,710 13,320 14,774 15,410 16,259 16,518
592 863 938 968 1,149 1,514 1,318 1,176 1,342 1,241 1,211 1,731 1,800
CWIP 321 408 440 276 151 129 313 644 487 488 606 366 204
Investments 1,635 1,529 2,202 2,890 4,628 3,927 5,240 4,054 4,042 5,157 5,528 5,023 5,047
4,584 5,102 5,311 6,298 6,505 6,231 7,056 6,836 7,450 7,888 8,066 9,140 9,466
Total Assets 7,131 7,902 8,891 10,431 12,433 11,800 13,927 12,710 13,320 14,774 15,410 16,259 16,518

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
445 871 1,057 1,396 1,318 1,457 1,729 593 1,336 835 271 1,214
197 -824 -846 -1,183 -995 1,246 -1,170 1,766 -873 -463 -33 262
-426 -156 -238 -237 -356 -2,670 -325 -2,531 -399 -338 -383 -1,239
Net Cash Flow 216 -108 -27 -24 -33 33 234 -172 64 34 -146 236

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 40 43 44 36 50 41 50 47 52 52 48 47
Inventory Days 97 84 92 72 87 81 71 79 77 82 86 73
Days Payable 85 71 80 68 96 92 117 86 110 140 112 105
Cash Conversion Cycle 53 56 56 40 41 31 4 40 19 -6 22 15
Working Capital Days 50 52 46 37 57 45 31 52 30 4 28 26
ROCE % 32% 23% 19% 26% 22% 26% 23% 25% 18% 14% 15% 17%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
70.54% 70.54% 70.54% 70.54% 70.54% 70.54% 70.54% 70.54% 70.54% 70.54% 70.54% 70.54%
4.33% 4.34% 4.04% 4.03% 3.50% 3.56% 3.62% 3.73% 3.70% 3.88% 3.56% 3.68%
16.19% 16.11% 16.10% 16.10% 16.37% 16.48% 16.33% 16.52% 16.78% 16.70% 17.04% 17.28%
8.94% 9.00% 9.32% 9.32% 9.59% 9.42% 9.51% 9.22% 8.99% 8.89% 8.86% 8.50%
No. of Shareholders 81,50787,79890,41192,24898,87395,27391,02385,22279,45677,15676,12765,214

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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