Bosch Limited’s net income for the fourth quarter of FY23 grew by 22.7 per cent to ₹4,063 crore. This is against ₹3,311 crore in the same quarter last year.
The supplier of technology and services saw its net profits move up by 13.72 per cent to ₹398 crore compared to ₹350 crore in Q4 FY23.
For Q4, it announced an EPS of ₹134.99 compared to ₹119 last year. While a final dividend of ₹280 per share is recommended for FY2022-23, bringing the total dividend for the year to ₹480 per share, including an interim dividend of ₹200 per share.
Bosch ended its FY2022-23 with total revenue from operations of ₹14,929 crore, thus registering an increase of 26.7 per cent compared to the previous fiscal year. Its net profit for the entire year stood at ₹1,425 crore.
Soumitra Bhattacharya, Managing Director, Bosch Limited, and President, Bosch Group, India said, “2022 was a historic year as we celebrated 100 years of Bosch in India, and at the same time, it was a year replete with challenges in the market.”
Bhattacharya added, “Despite all odds, we concluded the year with a strong performance and positive revenue growth. This was primarily fueled by the solid recovery in the auto market post-pandemic.”
The total capital investments for the year, including capital work-in-progress, amounted to ₹751 crore, with a significant portion allocated towards the development of Spark, the company said.
Business development in FY2022-23
Bosch’s Mobility Solutions Business sector reported a 30 per cent increase in product sales during the fiscal year 2022-23, largely driven by a 22 per cent growth in the overall automotive sector. Domestic sales for Bosch also grew by 27.5 per cent.
Within the Mobility Solutions Business sector, the powertrain solutions division in India saw a 35.9 per cent increase, while the sales of the two-wheeler business grew by 15 per cent, particularly in the exhaust sensors and fuel injectors segments due to an improved supply of semiconductors.
Additionally, the automotive aftermarket division rose by 15.3 per cent, and the Beyond Mobility Solutions sector recorded a 14.1 per cent increase in sales.
Bhattacharya said, “Going forward, we anticipate moderate growth in India’s GDP, which will likely lead to a 5 to 6 per cent increase in the automotive market. At Bosch, we are confident in our ability to navigate these headwinds, particularly as we continue to see an increase in content per vehicle due to components supplied for exhaust gas treatment and the implementation of BSVI Stage 2. With this in mind, we expect total revenue from sales to grow around 15 per cent.”