(Reuters) – Auto parts-maker Bosch, the Indian unit of German automotive supplier Robert Bosch, reported a rise in third-quarter adjusted profit on Tuesday on the back of steady sales of automobile parts.
The company’s profit before exceptional items and tax rose nearly 9% year-on-year to 6.65 billion rupees (nearly $77 million) in the three months to Dec. 31.
Revenue grew 6% to 44.66 billion rupees.
KEY CONTEXT
Bosch makes auto parts and accessories for cars, two wheelers and railways, among others.
Its automotive products business accounts for about 87% of the total revenue.
India’s overall auto sales grew 3.1% in the December quarter, helped by the demand-driving festive season. Car sales rose 4.5% and sales of motorcycles and scooters gained 3% from a year earlier.
During the quarter, the company made a one-time provision worth 471 million rupees for restructuring of operations in its mobility business.
PEER COMPARISON
Estimates (next 12 Analysts’ sentiment
months)
RIC PE EV/EBI Revenue Profit Mean # of Stock to Div
TDA growth growth rating* analyst price yield
(%) (%) s target** (%)
Bosch Ltd 36.86 30.76 9.74 22.85 Hold 3 0.98 1.26
Samvardhana 19.33 8.54 9.11 28.73 Buy 19 0.76 0.58
Motherson
International
Ltd
UNO Minda Ltd 41.15 23.45 17.20 24.02 Buy 16 0.78 0.23
Sona BLW 38.97 23.33 28.82 38.09 Buy 15 0.78 0.62
Precision
Forgings Ltd
* The mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
OCT-DEC STOCK PERFORMANCE
— All data from LSEG
— $1 = 86.5350 Indian rupees
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
