Rele Ameet Shashikant
Phone: +91 80 2299-9777
Phone: +91 80 2299-2440
2017-08-11 | India | Corporate News
Bengaluru – Bosch Limited, a leading supplier of technology and services, posted gross sales and income from operations of INR 2,770 crores in quarter 1 of FY 2017-18, thus registering a 3.3 percent increase over the same period of the previous year.
In this reporting period, Profit Before Tax (PBT) stood at INR 462 crores or 16.7 percent of sales. For the same period, Profit After Tax (PAT) stood at INR 303 crores or 10.9 percent of sales, a decrease of 19.3 percent over the same period of the previous year. Despite a sales growth of 3.3 percent, PAT declined due to a change in the product mix. This was necessitated owing to the introduction of Bharat Stage (BS) IV emission norms across India beginning April 01, 2017. Subsequently, material cost and freight cost increased. “Earlier this year, the central government passed the mandate for all vehicles to changeover from BS III emission norms to BS IV emission standards. Bosch Limited was able to offer its customers the required technology by ramping up its production, inclusive of its suppliers”, stated Mr. Soumitra Bhattacharya, managing director, Bosch Limited, and president Bosch Group in India, while announcing the results for the quarter. “Looking forward, the company is well prepared to offer customers an array of full line solutions, as the nation transitions from BS IV to BS VI emission norms by 2020. Bosch Limited is prepared and committed to offer its support during this phase of movement,” Mr. Bhattacharya continued.
Snapshot of business divisions’ performance in Quarter 1
Overall, Bosch Limited’s Mobility Solutions businesses grew by 5.2 percent and outperformed the automotive market which grew by 2.7 percent (excluding two-wheeler) in this period. Key performing divisions were the Diesel Systems business, which registered a sales growth of 8.1 percent. Gasoline Systems’ sales also registered a double-digit growth of 53.6 percent. The company’s business beyond mobility sector registered an overall decline of 11.4 percent due to lower export orders in the Packaging Technology business division, that apart customer orders were also rescheduled as an outcome of the Goods and Service Tax (GST) implementation. However, this is a short-term ramification that will abate as the industry becomes familiar with the law.
“The current fiscal year holds many promises, with a progressive government at the center we look forward to more reforms, reduced interest rates and improved liquidity after re-monetization. By taking a consolidated approach to customer service and delivering holistic integrated services, Bosch Limited is certain of continuing on the path of its past growth trajectory,” he further commented.
About Bosch Group
The Bosch Group is a leading global supplier of technology and services. It employs roughly 389,000 associates worldwide (as of December 31, 2016). According to preliminary figures, the company generated sales of 73.1 billion euros in 2016. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and En-ergy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its custom-ers connected, cross-domain solutions from a single source. The Bosch Group’s strategic ob-jective 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 450 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers near-ly every country in the world. The basis for the company’s future growth is its innovative strength. At 120 locations across the globe, Bosch employs 59,000 associates in research and development.
About Bosch in India
In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solu-tions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Addi-tionally, 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 twelve 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 Lim-ited, BSH Home Appliances Private Limited, ETAS Automotive India Private Limited, Robert Bosch Automotive Steering India Private Limited, Automotive Services and Solutions Private Limited, New Tech Filters India Private Limited and Mivin Engineering Technologies Private 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 ₨.18,300 crores (1.8 billion euros)* in 2016 of which ₨. 12,950 crores* from third par-ty. The Group in India has close to 18,500 research and development associates.
In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨. 10,500 crores in 2016.
Additional information can be accessed at www.boschindia.com