BOSCH 2019-20 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

BOSCH 2019-20 Annual Report Analysis
Fri, 23 Oct

BOSCH has announced its results for the year ended March 2020. Let us have a look at the detailed performance review of the company during FY19-20.

BOSCH Income Statement Analysis

  • Operating income during the year fell 18.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 64.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 7.8% in FY20 as against 17.8% in FY19.
  • Depreciation charges decreased by 4.7% and finance costs decreased by 23.3% YoY, respectively.
  • Other income declined by 8.2% YoY.
  • Net profit for the year declined by 54.2% YoY.
  • Net profit margins during the year declined from 12.6% in FY19 to 7.0% in FY20.

BOSCH Income Statement 2019-20

No. of Mths Year Ending 12 Mar-19* 12 Mar-20* % Change
Net Sales Rs m 120,850 98,416 -18.6%
Other income Rs m 5,953 5,466 -8.2%
Total Revenues Rs m 126,803 103,882 -18.1%
Gross profit Rs m 21,542 7,666 -64.4%
Depreciation Rs m 4,022 3,833 -4.7%
Interest Rs m 133 102 -23.3%
Profit before tax Rs m 23,340 9,197 -60.6%
Tax Rs m 7,406 1,901 -74.3%
Profit after tax Rs m 15,934 7,296 -54.2%
Gross profit margin % 17.8 7.8
Effective tax rate % 31.7 20.7
Net profit margin % 12.6 7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FREE REPLAY: Discover What Richa Revealed in Her Smallcaps Summit

BOSCH Balance Sheet Analysis

  • The company's current liabilities during FY20 stood at Rs 37 billion as compared to Rs 32 billion in FY19, thereby witnessing an increase of 13.6%.
  • Current assets rose 9% and stood at Rs 70 billion, while fixed assets rose 2% and stood at Rs 18 billion in FY20.
  • Overall, the total assets and liabilities for FY20 stood at Rs 133 billion as against Rs 127 billion during FY19, thereby witnessing a growth of 5%.

BOSCH Balance Sheet as on March 2020

No. of Mths Year Ending 12 Mar-19* 12 Mar-20* % Change
Networth Rs m 91,178 92,694 1.7
 
Current Liabilities Rs m 32,311 36,690 13.6
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 127,096 133,200 4.8
 
Current assets Rs m 64,431 70,192 8.9
Fixed Assets Rs m 18,199 18,498 1.6
Total Assets Rs m 127,096 133,200 4.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BOSCH Cash Flow Statement Analysis

  • BOSCH's cash flow from operating activities (CFO) during FY20 stood at Rs 13 billion, an improvement of 125.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY20 stood at Rs -9 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY20 stood at Rs -4 billion, an improvement of 84% on a YoY basis.
  • Overall, net cash flows for the company during FY20 stood at Rs 642 million from the Rs -2 billion net cash flows seen during FY19.

BOSCH Cash Flow Statement 2019-20

Particulars No. of months 12 12 % Change
Year Ending Mar-19 Mar-20
Cash Flow from Operating Activities Rs m 5,932 13,361 125.2%
Cash Flow from Investing Activities Rs m 17,659 -8,729 -
Cash Flow from Financing Activities Rs m -25,308 -3,990 -
Net Cash Flow Rs m -1,717 642 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BOSCH

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 247.4, an decline from the EPS of Rs 540.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 12,029.0, stands at 112.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.2 times, while the price to sales ratio stands at 3.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 33.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-19* 12 Mar-20*
Sales per share (Unadj.) Rs 4,098.0 3,337.3
TTM Earnings per share Rs 540.3 247.4
Diluted earnings per share Rs 522.1 239.1
Price to Cash Flow x 17.8 33.0
TTM P/E ratio x 108.3 112.1
Price / Book Value ratio x 6.4 4.2
Market Cap Rs m 354,735 367,125
Dividends per share (Unadj.) Rs 105.0 105.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BOSCH

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.9x during FY20, from 2.0x during FY19. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 91.2x during FY20, from 176.5x during FY19. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 7.9% during FY20, from 17.5% during FY20. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 10.0% during FY20, from 25.7% during FY19. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 5.6% during FY20, from 12.6% during FY19. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-19* 12 Mar-20*
Current ratio x 2.0 1.9
Debtors’ Days Days 47 52
Interest coverage x 176.5 91.2
Debt to equity ratio x 0.0 0.0
Return on assets % 12.6 5.6
Return on equity % 17.5 7.9
Return on capital employed % 25.7 10.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BOSCH has performed over the last 5 years, please visit here.

BOSCH Share Price Performance

Over the last one year, BOSCH share price has moved down from Rs 14,597.2 to Rs 12,029.0, registering a loss of Rs 2,568.2 or around 17.6%.

Overall, the S&P BSE SENSEX is up 4.4% over the year.

(To know more, check out historical annual results for BOSCH and quarterly results for BOSCH)

Equitymaster requests your view! Post a comment on "BOSCH 2019-20 Annual Report Analysis". Click here!

  

Related Views on News

BOSCH 2020-21 Annual Report Analysis (Annual Result Update)

Aug 10, 2021 | Updated on Aug 10, 2021

Here's an analysis of the annual report of BOSCH for 2020-21. It includes a full income statement, balance sheet and cash flow analysis of BOSCH. Also includes updates on the valuation of BOSCH.

BOSCH Announces Quarterly Results (1QFY22); Net Profit Up 315.0% (Quarterly Result Update)

Aug 5, 2021 | Updated on Aug 5, 2021

For the quarter ended June 2021, BOSCH has posted a net profit of Rs 3 bn (up 315.0% YoY). Sales on the other hand came in at Rs 24 bn (up 146.4% YoY). Read on for a complete analysis of BOSCH's quarterly results.

BOSCH Announces Quarterly Results (4QFY21); Net Profit Up 494.0% (Quarterly Result Update)

Jul 9, 2021 | Updated on Jul 9, 2021

For the quarter ended March 2021, BOSCH has posted a net profit of Rs 5 bn (up 494.0% YoY). Sales on the other hand came in at Rs 32 bn (up 43.8% YoY). Read on for a complete analysis of BOSCH's quarterly results.

More Views on News

Most Popular

Infosys vs TCS: Which is Better?(Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake(Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

Don't Sell these Stocks if the Market Falls(Profit Hunter)

Nov 17, 2021

These are the 3 types of stocks that you should not sell in a market crash.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing.(Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.

How to Find Your Next 10-Bagger in this Market(Profit Hunter)

Nov 19, 2021

The #1 make or break factor in your portfolio you shouldn't ignore.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

TRACK BOSCH

COMPARE BOSCH WITH

MARKET STATS