- 20 May 2022
- ICICIdirect Research
Bosch posts healthy set of numbers for Q4FY22
BOSCHLTD - 32390 Change: 657.75 (2.07 %)News: The company posted healthy numbers for Q4FY22 with topline coming at Rs. 3311 crore, up 6.5% QoQ. EBITDA came in at Rs.435 crore with margins at 13.2% up ~170 bps QoQ. Consequently PAT was at Rs.351 crore up 49.3% QoQ (supported by lower effective tax rate for the quarter at ~19%). The company announced a dividend of Rs. 210/share for FY22 (including a one-time special dividend of Rs.100/share)
Views: The company’s margin performance was a key positive primarily lead by operating leverage gains (other expense down 380 bps QoQ, employee expense down 170 bps QoQ) amid sharp decline in gross margins at 380 bps QoQ. Growth in topline was primarly lead by consumer durables segment (power tool space) whereas automobile segment was flat QoQ. Company remains a key beneficiary of stringent emission norms across vehicle categories domestically and has incremental role to play in the e-mobility space along with new age technologies like fuel cells, etc, with appropriate support from the parent (Bosch AG)
Impact: Positive