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Bosch soars 5% on strong Q4 results; up 45% in last 6 months

Bosch's net profit rose 41.5 per cent on a year-on-year (Y-o-Y) basis to Rs 564 crore, from Rs 399 crore in the same quarter a year ago (Q4FY23)

Bosch

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SI Reporter New Delhi

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Bosch hits 52-week high: Shares of Bosch rose as much as 4.57 per cent to hit a fresh 52-week high of Rs 32,214 per share, on Friday. 

The rise in share price came after the company reported a strong set of March quarter (Q4FY24) results. 

Bosch’s net profit rose 41.5 per cent on a year-on-year (Y-o-Y) basis to Rs 564 crore, from Rs 399 crore in the same quarter a year ago (Q4FY23).

The auto component manufacturer’s topline (revenue) grew over 4 per cent to Rs 4,233 crore in the March quarter of financial year 2024, from Rs 4.063.4 crore in the March quarter of financial year 2023.

Earnings before interest, tax depreciation and amortisation, also known as operating profit, jumped 6.7 per cent to Rs 557 crore in Q4FY24, from Rs 522 crore in the same quarter  previous fiscal. 

Ebitda margin, meanwhile, expanded 30 basis points (bps) to 13.2 per cent in Q4FY24, from 12.9 per cent in the same quarter a year ago. 

The board of directors have recommended a final dividend of 170 per equity share of 10 each, subject to approval of shareholders. “The total dividend payout for the financial year 2023-24 (including interim dividend Rs 205 paid in March 2024) is Rs 375 per equity share (previous year Rs 480 per equity share),” Bosch said.  

The said, final dividend, if declared, by the shareholders at the ensuing Annual General Meeting will be paid/dispatched on or after August 13, 2024

“We concluded FY23-24 with a strong performance and considerable revenue growth, despite multiple headwinds that plagued the industry. The resilient uptick was fueled by increased demand for passenger cars and consumer goods product segments. We fostered growth in a number of business areas, across mobility and beyond,” said Guruprasad Mudlapur, president of the Bosch Group in India and managing director, Bosch Limited.

FY25 Outlook 

In the fiscal year 2024-25, India's economic landscape is set to maintain its positive trajectory, buoyed by robust sales performance in key sectors. Bosch anticipates continued growth in its power tools and building technologies divisions, propelled by sustained investments in the country's infrastructure. With India ranking as the third-largest automotive market and a burgeoning middle class seeking value-driven, high-quality offerings, Bosch perceives a major opportunity to enhance its product portfolio and anticipate the evolving mobility landscape worldwide. 

Accordingly, the company has realigned its mobility business to prioritise regional growth, customer-centricity, and innovative technologies, aiming to shape a future characterised by sustainable, safe, and captivating mobility solutions.

“Our sustained focus on emerging technologies makes us optimistic of the future. At Bosch, we are prepared to navigate the challenges of the market and accelerate our efforts in R&D, innovation, and sustainability to shape a connected and eco-friendly automotive landscape in India,” Mudlapur added. 

At 11:32 AM, shares of Bosch were trading 0.96 per cent higher at Rs 31,099.60. By comparison, S&P BSE Sensex was up 0.30 per cent at 75,637.03 levels.

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First Published: May 27 2024 | 12:08 PM IST

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