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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 500530 | NSE: BOSCHLTD

Bosch Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:22 pm

Market Cap 1,00,745 Cr.
Current Price 34,109
High / Low39,089/20,821
Stock P/E50.3
Book Value 4,319
Dividend Yield1.10 %
ROCE20.6 %
ROE16.0 %
Face Value 10.0
PEG Ratio1.63

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bosch Ltd

Competitors of Bosch Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IP Rings Ltd 250 Cr. 197262/142 82.80.00 %4.05 %2.95 % 10.0
Talbros Automotive Components Ltd 1,787 Cr. 289396/22020.6 96.40.24 %21.4 %17.2 % 2.00
Sundram Fasteners Ltd 24,393 Cr. 1,1621,506/1,00244.6 1730.59 %18.5 %16.2 % 1.00
Sintercom India Ltd 389 Cr. 141170/121363 36.70.00 %4.82 %1.15 % 10.0
Shriram Pistons & Rings Ltd 8,855 Cr. 2,0102,399/99319.1 4870.50 %27.9 %25.2 % 10.0
Industry Average13,350.91 Cr3,628.8057.98534.830.70%16.39%14.39%7.00

All Competitor Stocks of Bosch Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales3,2182,4442,9183,1093,3113,5443,6623,6604,0634,1584,1304,2054,233
Expenses2,5992,1372,5602,7522,8703,0953,2303,2563,5413,6903,6393,6273,676
Operating Profit619307358358441450431404522468491578557
OPM %19%13%12%12%13%13%12%11%13%11%12%14%13%
Other Income11799124808757150131136188939214226
Interest4321774225311244
Depreciation9267838589659210812192101117119
Profit before tax6403353983364324384874255335321,317671661
Tax %25%23%6%30%19%24%24%25%25%23%24%23%15%
Net Profit482260372235351334372319399409999518564
EPS in Rs163.4388.09126.1379.64118.87113.31126.26108.13135.28138.67338.68175.67191.40

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales8,6598,75712,0869,70110,43511,69012,0859,8429,71811,78214,92916,727
Expenses7,3107,46810,1047,8238,4739,5979,9318,3588,55510,31913,12014,632
Operating Profit1,3501,2891,9811,8781,9632,0932,1541,4831,1631,4621,8102,095
OPM %16%15%16%19%19%18%18%15%12%12%12%13%
Other Income369353537623912418600-105-2413914711,566
Interest601413273131014291251
Depreciation367384548386456467402383341324386430
Profit before tax1,3461,2571,9562,1022,3912,0412,3399855671,5001,8823,181
Tax %29%30%32%27%27%33%32%34%15%19%24%22%
Net Profit9588851,3381,5311,7411,3711,5986504821,2171,4242,490
EPS in Rs305.20281.76426.03487.72570.47449.14541.81220.32163.59412.70482.99844.42
Dividend Payout %20%20%20%17%29%22%19%48%70%51%99%44%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)14.42%13.72%-21.25%16.56%-59.32%-25.85%152.49%17.01%74.86%
Change in YoY Net Profit Growth (%)0.00%-0.71%-34.97%37.81%-75.88%33.48%178.34%-135.48%57.85%

Bosch Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2015-2016 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:7%
3 Years:20%
TTM:7%
Compounded Profit Growth
10 Years:8%
5 Years:3%
3 Years:24%
TTM:31%
Stock Price CAGR
10 Years:7%
5 Years:16%
3 Years:25%
1 Year:61%
Return on Equity
10 Years:15%
5 Years:13%
3 Years:14%
Last Year:16%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:34 am

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital31313131303030303030303030
Reserves5,5426,2637,3169,5048,7699,9519,0979,2409,79310,65810,98312,03412,708
Borrowings23018311150000745473533931
Other Liabilities2,0982,4142,9732,8483,0003,9463,5833,9774,8984,6505,1945,2525,752
Total Liabilities7,9028,89110,43112,43311,80013,92712,71013,32014,77415,41016,25917,35518,521
Fixed Assets8639389681,1491,5141,3181,1761,3421,2411,2111,7311,7701,653
CWIP408440276151129313644487488606366224282
Investments1,5292,2022,8904,6283,9275,2404,0544,0425,1575,5285,0235,1255,821
Other Assets5,1025,3116,2986,5056,2317,0566,8367,4507,8888,0669,14010,23610,766
Total Assets7,9028,89110,43112,43311,80013,92712,71013,32014,77415,41016,25917,35518,521

Reserves and Borrowings Chart

Cash Flow

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +8711,0571,3961,3181,4571,7295931,3368352711,2141,253
Cash from Investing Activity +-824-846-1,183-9951,246-1,1701,766-873-463-33262283
Cash from Financing Activity +-156-238-237-356-2,670-325-2,531-399-338-383-1,239-1,452
Net Cash Flow-108-27-24-3333234-1726434-14623684

Free Cash Flow

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-229.00-182.00-110.00-49.001.002.002.00-73.00-53.00-72.00-52.00-37.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthDec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days434436504150475252484748
Inventory Days849272878171797782867364
Days Payable71806896921178611014011210586
Cash Conversion Cycle565640413144019-6221525
Working Capital Days52463757453152304282632
ROCE %23%19%26%22%26%23%25%18%14%15%17%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters70.54%70.54%70.54%70.54%70.54%70.54%70.54%70.54%70.54%70.54%70.54%70.54%
FIIs4.04%4.03%3.50%3.56%3.62%3.73%3.70%3.88%3.56%3.68%4.10%5.96%
DIIs16.10%16.10%16.37%16.48%16.33%16.52%16.78%16.70%17.04%17.28%17.19%15.80%
Public9.32%9.32%9.59%9.42%9.51%9.22%8.99%8.89%8.86%8.50%8.15%7.71%
No. of Shareholders90,41192,24898,87395,27391,02385,22279,45677,15676,12765,21465,37665,580

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund - Regular Plan300,0001.67911.81106,8302024-11-20180.82%
Nippon India Multi Cap Fund106,8301.02324.7106,8302024-11-200%
HDFC Focused 30 Fund - Regular Plan100,0002.54303.94106,8302024-11-20-6.39%
Nippon India Power & Infra Fund85,0004.53258.35106,8302024-11-20-20.43%
HDFC Manufacturing Fund70,8752.08215.42106,8302024-11-20-33.66%
Kotak Small Cap Fund - Regular Plan68,3491.36207.74106,8302024-11-20-36.02%
Nippon India Growth Fund61,0940.66185.69106,8302024-11-20-42.81%
Bandhan Sterling Value Fund60,0002.02182.36106,8302024-11-20-43.84%
Kotak ELSS Tax Saver Fund52,0002.74158.05106,8302024-11-20-51.32%
SBI Contra Fund45,0410.45136.9106,8302024-11-20-57.84%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)844.68483.32413.00163.00220.00
Diluted EPS (Rs.)844.68483.32413.00163.00220.00
Cash EPS (Rs.)989.73613.52522.47278.68350.20
Book Value[Excl.RevalReserv]/Share (Rs.)4087.083730.543620.273326.413139.22
Book Value[Incl.RevalReserv]/Share (Rs.)4087.083730.543620.273326.413139.22
Revenue From Operations / Share (Rs.)5670.205060.783993.763293.633336.14
PBDIT / Share (Rs.)954.98772.85628.17564.27688.10
PBIT / Share (Rs.)809.39642.13518.24448.54558.17
PBT / Share (Rs.)1078.20638.03508.44191.63311.76
Net Profit / Share (Rs.)844.13482.81412.54162.95220.27
NP After MI And SOA / Share (Rs.)844.51483.22412.98163.39220.17
PBDIT Margin (%)16.8415.2715.7217.1320.62
PBIT Margin (%)14.2712.6812.9713.6116.73
PBT Margin (%)19.0112.6012.735.819.34
Net Profit Margin (%)14.889.5410.324.946.60
NP After MI And SOA Margin (%)14.899.5410.344.966.59
Return on Networth / Equity (%)20.6612.9511.404.917.01
Return on Capital Employeed (%)19.4816.8713.7712.8817.07
Return On Assets (%)14.368.777.903.264.87
Asset Turnover Ratio (%)0.990.940.780.690.75
Current Ratio (X)1.951.761.941.951.91
Quick Ratio (X)1.581.381.541.661.61
Inventory Turnover Ratio (X)1.951.801.831.931.80
Dividend Payout Ratio (NP) (%)0.0084.8227.8464.2547.68
Dividend Payout Ratio (CP) (%)0.0066.7621.9837.6129.98
Earning Retention Ratio (%)0.0015.1872.1635.7552.32
Cash Earning Retention Ratio (%)0.0033.2478.0262.3970.02
Interest Coverage Ratio (X)55.46188.4264.12118.90199.01
Interest Coverage Ratio (Post Tax) (X)33.41118.7143.1188.47128.60
Enterprise Value (Cr.)86043.5454993.5440900.8139086.7325502.66
EV / Net Operating Revenue (X)5.143.683.474.022.59
EV / EBITDA (X)30.5424.1222.0723.4812.56
MarketCap / Net Operating Revenue (X)5.303.823.624.282.82
Retention Ratios (%)0.0015.1772.1535.7452.31
Price / BV (X)7.355.183.994.233.00
Price / Net Operating Revenue (X)5.303.823.624.282.82
EarningsYield0.020.020.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bosch Ltd as of November 21, 2024 is: 35,141.66

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Bosch Ltd is Undervalued by 3.03% compared to the current share price 34,109.00

Intrinsic Value of Bosch Ltd as of November 21, 2024 is: 45,975.15

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Bosch Ltd is Undervalued by 34.79% compared to the current share price 34,109.00

Last 5 Year EPS CAGR: 30.83%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 20.75%, which is a positive sign.
  2. The company has higher reserves (9,373.69 cr) compared to borrowings (69.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (10.75 cr) and profit (130.67 cr) over the years.
  1. The stock has a high average Working Capital Days of 36.67, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 28.58, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bosch Ltd:
    1. Net Profit Margin: 14.88%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 19.48% (Industry Average ROCE: 16.39%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 20.66% (Industry Average ROE: 14.39%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 33.41
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.58
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 50.3 (Industry average Stock P/E: 57.98)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bosch Ltd. is a Public Limited Listed company incorporated on 12/11/1951 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L85110KA1951PLC000761 and registration number is 000761. Currently Company is involved in the business activities of Manufacture of motor vehicle engines. Company’s Total Operating Revenue is Rs. 11781.60 Cr. and Equity Capital is Rs. 29.50 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto Ancl - Engine PartsP. B. No. 3000, Bengaluru Karnataka 560030investor@in.bosch.com
http://www.bosch.in
Management
NamePosition Held
Mr. Soumitra BhattacharyaChairman
Mr. Guruprasad MudlapurManaging Director & CTO
Mr. N SandeepJoint Managing Director
Mr. Karsten MuellerWhole Time Director
Mr. Stefan GroschNon Executive Director
Ms. Hema RavichandarIndependent Director
Dr. Gopichand KatragaddaIndependent Director
Mr. Pawan Kumar GoenkaIndependent Director
Mr. S V RanganathIndependent Director
Ms. Padmini KhareIndependent Director
Mr. Bhaskar BhatLead Independent Director
Ms. Karin GilgesAlternate Director

FAQ

What is the latest intrinsic value of Bosch Ltd?

The latest intrinsic value of Bosch Ltd as on 21 November 2024 is ₹35141.66, which is 3.03% higher than the current market price of ₹34,109.00.

What is the Market Cap of Bosch Ltd?

The Market Cap of Bosch Ltd is 1,00,745 Cr..

What is the current Stock Price of Bosch Ltd as on 21 November 2024?

The current stock price of Bosch Ltd as on 21 November 2024 is ₹34,109.

What is the High / Low of Bosch Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bosch Ltd stocks is 39,089/20,821.

What is the Stock P/E of Bosch Ltd?

The Stock P/E of Bosch Ltd is 50.3.

What is the Book Value of Bosch Ltd?

The Book Value of Bosch Ltd is 4,319.

What is the Dividend Yield of Bosch Ltd?

The Dividend Yield of Bosch Ltd is 1.10 %.

What is the ROCE of Bosch Ltd?

The ROCE of Bosch Ltd is 20.6 %.

What is the ROE of Bosch Ltd?

The ROE of Bosch Ltd is 16.0 %.

What is the Face Value of Bosch Ltd?

The Face Value of Bosch Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bosch Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE