Bosch declares whopping dividend of ₹200, posts 35% PAT growth in Q3

With a market valuation of ₹51,528.63 Cr, Bosch Limited is a large-cap company that operates in the consumer discretionary industry. 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. Today, the business declared its Q3 earnings along with a whopping dividend of ₹200 per share for its eligible shareholders.

Bosch has said in a stock exchange filing that “The Board of Directors at their meeting held today, declared an Interim Dividend of INR 200/- per share for the financial year 2022-23 on 29,493,640 equity shares of INR 10/- each payable to those shareholders whose names stand on the Register of Members of the Company as on the Record Date – Wednesday, 22nd February 2023. The dividend will be paid on or after 6th March 2023.”

During Q3FY23, Bosch Limited recorded total revenue from operations of INR 3660 crores an increase of 17.7% from ₹3109.10 Cr over same quarter last year. Bosch said in a stock exchange filing that the revenue from operations in this quarter has been flat compared to the previous quarter due to decline in net sales resulting from seasonal impact in the passenger car and tractor sales which has been offset by higher income from services and other operating revenue.

The Profit Before Tax (PBT) stood at INR 425 crores which is 11.6% of total revenue from operations, an increase of 26.48% YoY from ₹336 Cr in the year-ago quarter, whereas the Profit After Tax (PAT) stood at INR 319 crores which is 8.7% of revenue from operations and in the same quarter last year the net profit was ₹235 Cr, representing a growth of 35.74% YoY.

Bosch said its Earnings Before Interest and Tax (EBIT) in Q3FY23 reached INR 295 crores, has reduced by 12.9% compared to the previous sequential quarter impacted by one time costs like warranty claims and adverse exchange rates.

“A number of macroeconomic factors will make 2023 a challenging year. There are possibilities of a global recession, and India will not be immune to these impacts. Despite these uncertainties, the revenue for the current quarter is in line with the estimated quarterly forecast. With a strong performance across all quarters this fiscal year, Bosch in India will continue on a strong growth trajectory and focus on optimizing its costs to deliver continued profitable growth and cash flows in the future,” said Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India.

Continuing on the growth story, Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India said, “The recent budget is a testament to the government’s intent to drive sustainability and focus on green growth in India. Bosch is also spearheading this change by building an ecosystem for new-age technologies in the mobility space. In addition, the government’s efforts to build a robust transport infrastructure will also drive further growth in the Indian automotive market.”

The shares of Bosch closed today on the NSE at ₹17,420.20 apiece, up by 0.07% from the previous close of ₹17,408.10.

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