Bosch Limited, a large cap consumer discretionary firm, today closed with a market valuation of Rs. 55,961.23 crores. In India, Bosch is a leading provider of technology and services in the areas of consumer goods, energy and construction technology, industrial technology and mobility solutions.
The Board of Directors has recommended a final dividend of ” 280/ per equity share 10 each, subject to the approval of the shareholders. Total Dividend Payout (Including Interim Dividend) for FY 2022·23 200 paid in March 2023) is 480/ per equity share (Previous Year 210/ per equity share). In a stock exchange filing, Bosch said that the final annual dividend, if declared, will be paid by shareholders at the forthcoming Annual General Meeting on or after August 10, 2023.
During Q4FY23, the company said that its revenue from operations stood at 4,063.40 Cr grew 22.72% YoY from Rs. 3,311.00 Cr in Q4FY22. The net profit of the company is Rs. 398.10 crore during the quarter ended March 2023, an increase of 13.45%. 350.90 as recorded during the year-ago quarter.
The firm saw a growth of 26.7 percent from the prior financial year to complete its financial year 2022-23 with a total revenue of INR 14,929 crores. The profit after tax (PAT) for the financial year 2022-23 has been recorded at Rs 1,425 crore.
“2022 was a landmark year as we celebrated 100 years of Bosch in India and at the same time it was a challenging year in the market. Despite all the headwinds, we ended the year with strong performance and positive revenue growth. This was primarily driven by a solid recovery in the auto market post pandemic, said Soumitra Bhattacharya, Managing Director, Bosch Ltd. and President, Bosch Group, India.
Affirming our commitment to being ‘Invention for Life’, we recognize the pressing need for both software technologies and sophisticated hardware in the Indian automotive industry. The internal combustion engine (ICE) will continue to be 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 in line with the changing needs of the market.
Talking about the outlook for FY 2023-24, Bhattacharya commented: “As we look towards FY 2023-24, we recognize the challenges posed by the ongoing uncertainty due to some macro factors . Despite these challenges, we remain optimistic about the automotive market witnessing record production volumes in FY 2022-23. It also witnessed good acquisition of projects meeting TREM5 and OBD2 regulations, resulting in a strong order book for the next 3 to 5 years. We expect a moderate growth in India’s GDP, which is likely to drive 5 to 6 percent growth in the automotive market. At Bosch Ltd., we are confident in our ability to navigate these adverse conditions, especially as we continue to see an increase in content per vehicle due to exhaust gas treatment and components supplied for BSVI Stage 2 implementation. With this in mind, we expect overall revenue from sales to grow by approximately 15 percent.”
Bosch shares closed today on NSE down 2.44% from the previous close of 18,998.95 19,473.90.
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