Bosch Financial Statements

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Y/e 31 Mar Mar-2019 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 4.86 12 7.56 --
Op profit growth 3.36 6.77 4.38 --
EBIT growth 10.10 0.76 1.26 --
Net profit growth 16.60 (21) 13.50 --
Profitability ratios (%)        
OPM 17.60 17.90 18.80 19.40
EBIT margin 19.20 18.30 20.30 21.60
Net profit margin 13 11.70 16.70 15.80
RoCE 24.70 22.80 23.10 --
RoNW 4.19 3.65 4.75 --
RoA 4.19 3.65 4.74 --
Per share ratios ()        
EPS 542 449 571 488
Dividend per share 105 100 165 85
Cash EPS 405 296 421 365
Book value per share 3,091 3,267 2,880 3,034
Valuation ratios        
P/E 33.50 40.40 39.90 42.60
P/CEPS 44.90 61.20 54.10 56.90
P/B 5.88 5.55 7.91 6.85
EV/EBIDTA 19 20.50 26.30 25.60
Payout (%)        
Dividend payout 19.40 22.30 13.20 17.40
Tax payout (32) (31) (31) (27)
Liquidity ratios        
Debtor days 47.40 43.70 43.90 --
Inventory days 39.80 37.60 41.50 --
Creditor days (67) (65) (59) --
Leverage ratios        
Interest coverage (177) (648) (78) (162)
Net debt / equity (0.10) (0.20) (0.20) (0.20)
Net debt / op. profit (0.60) (0.90) (0.90) (0.90)
Cost breakup ()        
Material costs (55) (54) (51) (51)
Employee costs (11) (12) (13) (13)
Other costs (16) (17) (17) (16)
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Y/e 31 Mar( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Revenue 12,258 11,690 10,435 9,701
yoy growth (%) 4.86 12 7.56 --
Raw materials (6,775) (6,301) (5,309) (4,970)
As % of sales 55.30 53.90 50.90 51.20
Employee costs (1,370) (1,357) (1,343) (1,303)
As % of sales 11.20 11.60 12.90 13.40
Other costs (1,949) (1,939) (1,823) (1,550)
As % of sales 15.90 16.60 17.50 16
Operating profit 2,164 2,093 1,960 1,878
OPM 17.60 17.90 18.80 19.40
Depreciation (405) (467) (456) (386)
Interest expense (13) (3.30) (27) (13)
Other income 595 512 617 604
Profit before tax 2,341 2,135 2,094 2,082
Taxes (743) (670) (650) (570)
Tax rate (32) (31) (31) (27)
Minorities and other 0.30 0.30 296 21.30
Adj. profit 1,598 1,465 1,740 1,534
Exceptional items -- (94) -- --
Net profit 1,598 1,371 1,740 1,534
yoy growth (%) 16.60 (21) 13.50 --
NPM 13 11.70 16.70 15.80
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Profit before tax 2,341 2,135 2,094 2,082
Depreciation (405) (467) (456) (386)
Tax paid (743) (670) (650) (570)
Working capital (398) (115) 115 --
Other operating items -- -- -- --
Operating cashflow 796 883 1,103 --
Capital expenditure 1,293 254 (254) --
Free cash flow 2,088 1,136 849 --
Equity raised 17,293 17,636 17,191 --
Investments (575) 1,314 (1,314) --
Debt financing/disposal 50 -- -- --
Dividends paid 310 305 229 267
Other items -- -- -- --
Net in cash 19,167 20,392 16,955 --
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 29.50 30.50 30.50 31.40
Preference capital -- -- -- --
Reserves 9,088 9,942 8,760 9,495
Net worth 9,118 9,973 8,791 9,527
Minority interest
Debt -- -- -- 50
Deferred tax liabilities (net) -- -- -- --
Total liabilities 9,118 9,973 8,791 9,577
Fixed assets 1,820 1,631 1,643 1,299
Intangible assets
Investments 4,045 5,232 3,918 4,620
Deferred tax asset (net) 460 491 468 496
Net working capital 1,540 732 1,045 1,330
Inventories 1,444 1,226 1,180 1,192
Inventory Days 43 38.30 41.30 44.80
Sundry debtors 1,568 1,616 1,186 1,323
Debtor days 46.70 50.40 41.50 49.80
Other current assets 2,112 1,837 1,679 1,664
Sundry creditors (1,637) (2,058) (1,370) (1,353)
Creditor days 48.70 64.30 47.90 50.90
Other current liabilities (1,947) (1,888) (1,630) (1,495)
Cash 1,253 1,888 1,718 1,832
Total assets 9,118 9,973 8,791 9,577
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Particulars ( Rupees In Crores.) Mar-2020 Dec-2019 Sep-2019 Jun-2019 Mar-2019
Gross Sales 2,237 2,537 2,313 2,779 2,730
Excise Duty -- -- -- -- --
Net Sales 2,237 2,537 2,313 2,779 2,730
Other Operating Income -- -- -- -- --
Other Income 140 211 167 98.80 163
Total Income 2,377 2,748 2,480 2,878 2,893
Total Expenditure ** 2,192 2,424 2,110 2,378 2,213
PBIDT 185 324 370 500 680
Interest 4.91 2.90 0.57 1.78 3.14
PBDT 180 321 369 498 677
Depreciation 116 110 82.70 75.50 114
Minority Interest Before NP -- -- -- -- --
Tax 96.40 14.60 230 136 119
Deferred Tax (113) 5.96 (42) 6.04 32.20
Reported Profit After Tax 81.10 190 98.40 280 412
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 80.90 190 98.40 280 412
Extra-ordinary Items 150 (177) (27) -- --
Adjusted Profit After Extra-ordinary item (69) 367 126 280 412
EPS (Unit Curr.) 27.40 64.50 33.30 94.90 137
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 29.50 29.50 29.50 29.50 29.50
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 8.26 12.80 16 18 24.90
PBDTM(%) 8.04 12.60 16 17.90 24.80
PATM(%) 3.63 7.50 4.25 10.10 15.10