Bosch Q4 earnings: Net profit surges 13% YoY in Q4, a whopping dividend of ₹280 per share declared

A large cap consumer discretionary firm, Bosch Ltd., closed today with a market valuation of Rs. 55,961.23 Cr. In India, Bosch is a top provider of technology and services in the fields of consumer goods, energy and building technology, industrial technology, and mobility solutions.

The Board of Directors have “Recommended a final dividend of 280/· per equity share of 10 each, subject to approval of shareholders. The total dividend payout for the financial year 2022·23 (including interim dividend 200 paid in March 2023) is 480/· per equity share (previous year 210/· per equity share). The said final dividend, if declared, by the shareholders at the ensuing Annual General Meeting will be paid/dispatched on or after August 10, 2023,” said Bosch in a stock exchange filing.

During Q4FY23, the company said its revenue from operations stood at  4,063.40 Cr up by 22.72% YoY from Rs. 3,311.00 Cr in Q4FY22. The company’s net profit stood at Rs. 398.10 Cr during the quarter ended March 2023 up by 13.45% YoY from Rs. 350.90 recorded during the year-ago quarter.

The firm saw a growth of 26.7 percent from the prior fiscal year to complete its financial year 2022–23 with total revenue from operations of INR 14,929 crores. At INR 1,425 crores, the Profit After Tax (PAT) for the fiscal year 2022–23 was reported. 

“2022 was a historic year as we celebrated 100 years of Bosch in India and at the same time it was a year replete with challenges in the market. Despite all odds, we concluded the year with strong performance and positive revenue growth. This was primarily fueled by the solid recovery in the auto market post pandemic,” said Soumitra Bhattacharya, Managing Director, Bosch Limited and President, Bosch Group, India.

“Reaffirming our commitment to being ‘Invented for Life’, we recognize the pressing need for both – software technologies and sophisticated hardware- in the Indian Automotive Industry. Internal Combustion Engine (ICE) will remain the dominant technology in the passenger car segment, even as the transition to electrification is already underway. At Bosch, we will continue to provide products and solutions as per evolving market requirements.” added Soumitra Bhattacharya, Managing Director, Bosch Limited and President, Bosch Group, India.

Speaking about the outlook for fiscal year 2023-24, Bhattacharya commented: “As we look ahead to fiscal year 2023-24, we recognize the challenges that lie ahead due to the ongoing uncertainty caused by certain macro factors. Despite these challenges, we remain optimistic about the automotive market, which saw record production volumes in FY 2022-23. It also saw good acquisition of projects catering to TREM5 and OBD2 regulations resulting in strong order book, for next 3 to 5 years. We anticipate a moderate growth in India’s GDP, which will likely lead to a 5 to 6 percent increase in the automotive market. At Bosch Limited, we are confident in our ability to navigate these headwinds, particularly as we continue to see an increase in content per vehicle due to components supplied for exhaust gas treatment and implementation of BSVI stage 2. With this in mind, we expect total revenue from sales to grow around 15 percent.”

The shares of Bosch closed today on the NSE at 18,998.95 apiece down by 2.44% from the previous close of 19,473.90.

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