Bosch Limited, a large-cap corporation that competes in the consumer discretionary sector, with a market worth of 51,528.63 Cr. In the areas of consumer products, energy and building technology, industrial technology, and mobility solutions, Bosch is a leading supplier of both technology and services in India. The company today announced its Q3 profits and a huge 200 per share dividend for its qualified stockholders.
According to a filing Bosch made with the stock exchange, “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 of the Record Date—Wednesday, 22nd February 2023. The dividend will be paid on March 6, 2023, or later. Bosch Limited reported total operating revenue of INR 3660 crores in the third quarter of FY23, an increase of 17.7% over the same period in FY22. According to a stock exchange filing by Bosch, the decline in net sales caused by seasonality in the sales of passenger cars and tractors, which was partially offset by higher income from services and other operating revenue, caused the quarter’s operating revenue to be flat compared to the prior quarter.
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. The Profit Before Tax (PBT) stood at INR 425 crores, which is 11.6% of the total revenue from operations, an increase of 26.48% YoY from 336 Cr in the year-ago quarter. As a result of one-time expenses like warranty claims and unfavourable currency rates, Bosch stated its Earnings Before Interest and Tax (EBIT) in the third fiscal quarter of 23 decreased by 12.9% from the prior sequential quarter and reached INR 295 crores.
2023 will be a difficult year due to a variety of macroeconomic variables. A worldwide recession is conceivable, and India won’t be exempt from its effects. Despite these unknowns, the current quarter’s revenue is in line with the projected quarterly prediction. Bosch in India will maintain its strong growth trajectory and concentrate on cost optimisation to deliver ongoing profitable growth and cash flows in the future, according to Soumitra Bhattacharya, managing director of Bosch Limited and president of the Bosch Group in India. Bosch in India has performed well throughout this fiscal year’s quarters.
The latest budget is a testament to the government’s intention to promote sustainability and a focus on green growth in India, according to Soumitra Bhattacharya, Managing Director of Bosch Limited and President of the Bosch Group in India. By creating an ecosystem for cutting-edge technology in the field of mobility, Bosch is likewise at the forefront of this transition. The government’s initiatives to develop a strong transport infrastructure will help fuel continued expansion of the Indian car industry.
The price of Bosch’s shares on the NSE today was 17,420.20 per share, an increase of 0.07% from the previous closing of 17,408.10.
