Bosch Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2019 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (20) 4.86 12 7.56
Op profit growth (31) 3.36 6.77 4.38
EBIT growth (30) 10.10 0.76 1.26
Net profit growth (59) 16.60 (21) 13.50
Profitability ratios (%)        
OPM 15.10 17.60 17.90 18.80
EBIT margin 16.70 19.20 18.30 20.30
Net profit margin 6.60 13 11.70 16.70
RoCE 17.80 24.70 22.80 23.10
RoNW 1.77 4.19 3.65 4.75
RoA 1.76 4.19 3.65 4.74
Per share ratios ()        
EPS 220 542 449 571
Dividend per share 105 105 100 165
Cash EPS 90.30 405 296 421
Book value per share 3,140 3,091 3,267 2,880
Valuation ratios        
P/E 42.70 33.50 40.40 39.90
P/CEPS 104 44.90 61.20 54.10
P/B 3 5.88 5.55 7.91
EV/EBIDTA 12.60 19 20.50 26.30
Payout (%)        
Dividend payout -- -- 22.30 13.20
Tax payout (20) (32) (31) (31)
Liquidity ratios        
Debtor days 55.30 47.40 43.70 43.90
Inventory days 47.50 39.80 37.60 41.50
Creditor days (71) (67) (65) (59)
Leverage ratios        
Interest coverage (161) (177) (648) (78)
Net debt / equity (0.20) (0.10) (0.20) (0.20)
Net debt / op. profit (1.50) (0.60) (0.90) (0.90)
Cost breakup ()        
Material costs (54) (55) (54) (51)
Employee costs (13) (11) (12) (13)
Other costs (18) (16) (17) (17)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Revenue 9,842 12,258 11,690 10,435
yoy growth (%) (20) 4.86 12 7.56
Raw materials (5,309) (6,775) (6,301) (5,309)
As % of sales 53.90 55.30 53.90 50.90
Employee costs (1,269) (1,370) (1,357) (1,343)
As % of sales 12.90 11.20 11.60 12.90
Other costs (1,780) (1,949) (1,939) (1,823)
As % of sales 18.10 15.90 16.60 17.50
Operating profit 1,483 2,164 2,093 1,960
OPM 15.10 17.60 17.90 18.80
Depreciation (383) (405) (467) (456)
Interest expense (10) (13) (3.30) (27)
Other income 547 595 512 617
Profit before tax 1,636 2,341 2,135 2,094
Taxes (335) (743) (670) (650)
Tax rate (20) (32) (31) (31)
Minorities and other 64.70 0.30 0.30 296
Adj. profit 1,366 1,598 1,465 1,740
Exceptional items (717) -- (94) --
Net profit 650 1,598 1,371 1,740
yoy growth (%) (59) 16.60 (21) 13.50
NPM 6.60 13 11.70 16.70
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Profit before tax 1,636 2,341 2,135 2,094
Depreciation (383) (405) (467) (456)
Tax paid (335) (743) (670) (650)
Working capital (298) (26) -- 26.40
Other operating items -- -- -- --
Operating cashflow 621 1,167 998 1,014
Capital expenditure 1,852 492 -- (492)
Free cash flow 2,473 1,659 998 522
Equity raised 18,075 16,249 18,818 16,338
Investments (587) 128 -- (128)
Debt financing/disposal 124 -- -- --
Dividends paid -- -- 305 229
Other items -- -- -- --
Net in cash 20,085 18,036 20,121 16,962
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 29.50 29.50 30.50 30.50
Preference capital -- -- -- --
Reserves 9,231 9,088 9,942 8,760
Net worth 9,261 9,118 9,973 8,791
Minority interest
Debt 73.90 -- -- --
Deferred tax liabilities (net) -- -- -- --
Total liabilities 9,335 9,118 9,973 8,791
Fixed assets 1,829 1,820 1,631 1,643
Intangible assets
Investments 4,033 4,045 5,232 3,918
Deferred tax asset (net) 457 460 491 468
Net working capital 760 1,540 732 1,045
Inventories 1,116 1,444 1,226 1,180
Inventory Days 41.40 43 38.30 41.30
Sundry debtors 1,413 1,568 1,616 1,186
Debtor days 52.40 46.70 50.40 41.50
Other current assets 2,208 2,112 1,837 1,679
Sundry creditors (1,642) (1,626) (2,058) (1,370)
Creditor days 60.90 48.40 64.30 47.90
Other current liabilities (2,335) (1,958) (1,888) (1,630)
Cash 2,256 1,253 1,888 1,718
Total assets 9,335 9,118 9,973 8,791
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 9,842 12,085 11,872 11,243 10,212
Excise Duty -- -- 182 807 741
Net Sales 9,842 12,085 11,690 10,435 9,472
Other Operating Income -- -- -- -- 230
Other Income 612 600 512 914 623
Total Income 10,453 12,685 12,202 11,350 10,324
Total Expenditure ** 9,075 9,931 9,691 8,475 7,823
PBIDT 1,378 2,754 2,511 2,875 2,501
Interest 10.20 13.30 3.30 27.20 12.90
PBDT 1,368 2,741 2,508 2,848 2,488
Depreciation 383 402 467 456 386
Minority Interest Before NP -- -- -- -- --
Tax 332 705 702 616 570
Deferred Tax 2.46 35.50 (32) 34 --
Reported Profit After Tax 650 1,598 1,371 1,741 1,531
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 650 1,598 1,371 1,740 1,534
Extra-ordinary Items (456) -- (62) -- --
Adjusted Profit After Extra-ordinary item 1,105 1,598 1,433 1,740 1,534
EPS (Unit Curr.) 220 525 449 561 488
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 1,050 1,050 1,000 1,650 850
Equity 29.50 29.50 30.50 30.50 31.40
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(%) 14 22.80 21.50 27.50 26.40
PBDTM(%) 13.90 22.70 21.50 27.30 26.30
PATM(%) 6.60 13.20 11.70 16.70 16.20