X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
BOSCH LTD 2017-18 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 LTD 2017-18 Annual Report Analysis
Fri, 21 Dec

BOSCH LTD has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

BOSCH LTD Income Statement Analysis

  • Operating income during the year rose 12.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 6.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.9% in FY18 as against 18.8% in FY17.
  • Depreciation charges increased by 2.4% and finance costs decreased by 87.9% YoY, respectively.
  • Other income declined by 17.1% YoY.
  • Net profit for the year declined by 5.1% YoY.
  • Net profit margins during the year declined from 13.1% in FY17 to 11.2% in FY18.

BOSCH LTD Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 104,352 116,901 12.0%
Other income Rs m 6,174 5,118 -17.1%
Total Revenues Rs m 110,526 122,019 10.4%
Gross profit Rs m 19,604 20,932 6.8%
Depreciation Rs m 4,562 4,672 2.4%
Interest Rs m 272 33 -87.9%
Profit before tax Rs m 20,944 21,345 1.9%
Tax Rs m 6,503 6,698 3.0%
Profit after tax Rs m 14,441 13,708 -5.1%
Gross profit margin % 18.8 17.9
Effective tax rate % 31.0 31.4
Net profit margin % 13.1 11.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BOSCH LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 35 billion as compared to Rs 26 billion in FY17, thereby witnessing an increase of 33.8%.
  • Current assets rose 24% and stood at Rs 73 billion, while fixed assets fell 1% and stood at Rs 16 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 139 billion as against Rs 118 billion during FY17, thereby witnessing a growth of 18%.

BOSCH LTD Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 87,906 99,726 13.4
 
Current Liabilities Rs m 26,300 35,191 33.8
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 117,908 139,187 18.0
 
Current assets Rs m 58,995 73,347 24.3
Fixed Assets Rs m 16,426 16,307 -0.7
Total Assets Rs m 117,908 139,187 18.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BOSCH LTD Cash Flow Statement Analysis

  • BOSCH LTD's cash flow from operating activities (CFO) during FY18 stood at Rs 17 billion, an improvement of 18.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -12 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -3 billion, an improvement of 88% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 2 billion from the Rs 330 million net cash flows seen during FY17.

BOSCH LTD Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 14,567 17,287 18.7%
Cash Flow from Investing Activities Rs m 12,460 -11,703 -
Cash Flow from Financing Activities Rs m -26,697 -3,246 -
Net Cash Flow Rs m 330 2,338 608.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BOSCH LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 449.1, an decline from the EPS of Rs 473.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 19,746.3, stands at 38.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 6.5 times, while the price to sales ratio stands at 5.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 32.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 3,419.1 3,830.3
TTM Earnings per share Rs 473.2 449.1
Diluted earnings per share Rs 473.2 449.1
Price to Cash Flow x 31.7 32.8
TTM P/E ratio x 38.5 38.5
Price / Book Value ratio x 7.6 6.5
Market Cap Rs m 602,657 602,657
Dividends per share (Unadj.) Rs 165.0 100.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BOSCH LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.1x during FY18, from 2.2x during FY17. 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 647.8x during FY18, from 78.0x during FY17. 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 13.7% during FY18, from 16.4% during FY18. 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 20.5% during FY18, from 24.1% during FY17. 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 9.9% during FY18, from 12.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 2.2 2.1
Debtors’ Days Days 41 50
Interest coverage x 78.0 647.8
Debt to equity ratio x 0.0 0.0
Return on assets % 12.5 9.9
Return on equity % 16.4 13.7
Return on capital employed % 24.1 20.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

BOSCH LTD Share Price Performance

Over the last one year, BOSCH LTD share price has moved up from Rs 19,892.4 to Rs 19,746.3, registering a loss of Rs 146.1 or around 0.7%.

Overall, the S&P BSE SENSEX is up 7.7% over the year.

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

Equitymaster requests your view! Post a comment on "BOSCH LTD 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

BOSCH LTD Announces Quarterly Results (3QFY19); Net Profit Up 19.3% (Quarterly Result Update)

Feb 18, 2019 | Updated on Feb 18, 2019

For the quarter ended December 2018, BOSCH LTD has posted a net profit of Rs 3 bn (up 19.3% YoY). Sales on the other hand came in at Rs 31 bn (up 0.8% YoY). Read on for a complete analysis of BOSCH LTD's quarterly results.

BOSCH LTD Announces Quarterly Results (2QFY19); Net Profit Up 18.9% (Quarterly Result Update)

Nov 12, 2018 | Updated on Nov 12, 2018

For the quarter ended September 2018, BOSCH LTD has posted a net profit of Rs 4 bn (up 18.9% YoY). Sales on the other hand came in at Rs 32 bn (up 13.8% YoY). Read on for a complete analysis of BOSCH LTD's quarterly results.

Sandhar Technologies IPO: Worth Betting on This Automotive Component Manufacturer? (IPO)

Mar 17, 2018

Should you subscribe to the IPO of Sandhar Technologies Ltd?

More Views on News

Most Popular

Stocks that Could Be Out of Reach Post Elections(The 5 Minute Wrapup)

Apr 9, 2019

It's a matter of time before the stocks catch the fancy of the markets and big investors.

3 Indian Stocks with Amazon-Like Potential(Profit Hunter)

Apr 10, 2019

We have identified 3 stocks with huge wealth building potential which meet our 'Click of a Button' criteria.

This Company is Making a Big Comeback and You Can Now Profit from Its Example(The 5 Minute Wrapup)

Apr 10, 2019

How Dell got its mojo back.

This is Why the Stock of Jubilant FoodWorks Went Up 1,160%(The 5 Minute Wrapup)

Apr 12, 2019

This critical business strategy has enabled companies to scale their operations faster.

Pocketing Massive Gains with HDFC And HDFC Bank(Profit Hunter)

Apr 12, 2019

Here's how one could have generated gains of Rs 59,250 in 10 days by trading HDFC and HDFC Bank with a capital of Rs 4 lakh.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK BOSCH

COMPARE BOSCH WITH

MARKET STATS