Quarter 02.2018-2019 financial results

2018-11-05

Total revenue from operations grew by 13.8 percent in Q2 of FY 2018-19 over the same period of the previous year
Profit After Tax (PAT) stood at 13.1 percent of sales, an increase of 18.9 percent
PAT for first half of business year increased 29.7 percent over the same period of previous year

Bengaluru – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 3,201 crores in Quarter 2 of FY 2018-19, registering 13.8 percent increase over the same period of the previous year on a comparable basis. The Profit Before Tax (PBT) stood at INR 641 crores, registering a growth of 21.8 percent over the same period of previous year on account of higher turnover, improved operational efficiency and higher productivity, which was partially offset by negative exchange rate on material cost. The Net Profit After Tax (PAT) stood at INR 420 crores, an increase of 18.9 percent over the same period of previous year. For the half-year ended September 30, 2018, Bosch Limited posted a total revenue from operations of INR 6,413 crores, an increase of 17.5 percent over the same period of previous year. PBT stood at INR 1,290 crores and PAT stood at INR 851 crores.

“Bosch Limited’s performance in the first two quarters highlights our continued commitment to delivering best-in-class automotive solutions. With these, we are helping our customers to meet the challenge of manufacturing only vehicles compliant with BS VI emission standards from April 2020 as recently ruled by the Supreme Court. In the past quarter, Bosch has outperformed the industry in business beyond mobility sectors as well. As a recognized industry leader in many sectors, we will continue to present innovations across our business including IoT services and integrated mobility offerings,” said Mr. Soumitra Bhattacharya, Managing Director, Bosch Limited.

Snapshot of business divisions’ performance in Quarter 2

Bosch Limited’s Mobility Solutions turnover increased by 12.3 percent in Quarter 2 of FY 2018-19. The largest contributor were domestic automotive sales which have increased by 15.1 percent. Within the Mobility Solutions business, the Powertrain Solutions division performed especially well, registering double-digit growth of 10.3 percent. The Automotive Aftermarket division grew by 20.9 percent after recovering from impact of GST implementation last year.

Bosch’s business beyond the Mobility Solutions sector registered a strong double-digit growth of 14.3 percent. The main contributors were the Energy and Building Technology sector and the Power Tools division.

For the first half business year ended September 30, 2018, total turnover showed a growth of 18.0 percent. Sales of the Mobility Solutions sector increased by 16.3 percent whereas business beyond the Mobility Solutions sector witnessed a strong double-digit growth of 30.1 percent.

The Board also approved, subject to approval of the shareholders, buyback of upto 1,028,100 equity shares of the Company, on a proportionate basis by way of a tender offer at a price of INR 21,000 per equity share for an aggregate amount not exceeding INR 2,159.01 crores in accordance with the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018.

Basic Information

About Bosch in India

In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has, in India, the largest development center outside Germany, for end to end engineering and technology solutions. The Bosch Group operates in India through thirteen companies, viz, Bosch Limited, Bosch Chassis Systems India Private Limited, Bosch Rexroth (India) Private Limited, Robert Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Limited, BSH Home Appliances Private Limited, ETAS Automotive India Private Limited, Robert Bosch Automotive Steering Private Limited, Automobility Services and Solutions Private Limited, Newtech Filter India Private Limited and Mivin Engg.Technologies Private Limited and Precision Seals Manufacturing Limited. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 18 manufacturing sites, and seven development and application centers. Bosch Group in India employs over 31,000 associates and generated consolidated revenue of about ₹19,204 crores* (2.61 billion euros) in 2017 of which₨₹13,790 crores*(1.88 billion euros) from third party. The Group in India has close to 18,000 research and development associates.

In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨₹10,842 crores (1.47 billion euros) in 2017. Additional information can be accessed at www.bosch.in

About Bosch Group

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,000 associates worldwide (as of December 31, 2017). The company generated sales of 78.1 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs some 64,500 associates in research and development.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.