- 09 Nov 2022
- ICICIdirect Research
BOSCH POSTS STEADY SET OF Q2FY23 NUMBERS
BOSCHLTD - 35895 Change: -358.50 (-0.99 %)News:
The company posted steady numbers for Q2FY23 with topline coming in at Rs 3662 crore, up 3% QoQ. EBITDA came in at Rs 431.1 crore with margins at 11.8%, down ~90 bps QoQ. Consequently, PAT was at Rs 372.4 crore, up 11% QoQ aided by higher other income
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The company’s margin as well as topline performance was marginally lower than our expectations. Decline in margin was due to rise in other expense, which rose ~80 bps QoQ. Growth in topline was led by consumer segment whereas automotive segment witnessed a steady topline performance. EBIT margins at automotive division dipped by 150 bps QoQ at 12.1% whereas for the consumer segment rose by 280 bps QoQ. The company remains a key beneficiary of regulation led increase in stringent emission norms across vehicle categories domestically. Also, the management said pilot project received for hydrogen fuel cell powered engine (retro-fitting)
Impact:
Neutral