Quarter 02.2021–2022 financial results

Bengaluru, India – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 2,918 crores in Quarter 2 of FY 2021–22, an increase of 17.7 percent. The increase is due to a lower base in the previous year and substantial recovery in sales in the current year as the lockdown restrictions eased across states in the country in July-September of 2021.

Profit before tax stood at INR 397 crores. This is 13.6 percent of total revenue from operations. Profit after tax stood at INR 372 crores, that is 12.7 percent of revenue from operations.

“Although the automotive market production in India has currently declined also due to the ongoing semiconductor shortage, there are first signs of recovery. However, uncertainty in the market remains a major concern for the automotive industry going forward,” said Mr. Soumitra Bhattacharya, Managing Director, Bosch Limited & President, Bosch Group in India.

Furthermore, on the recent announcements from the Government of India on the Automotive PLI, the latest in a series of emerging-industry focused PLI schemes, he added, “The PLI comes at the right time as a much-needed impetus to the automotive industry which has now faced several challenges since 2019 including COVID-19 and the ongoing semiconductor crisis. The focus on incentivizing advance automotive technology components will enable the industry to accelerate future technologies in mobility with an aim to bring India at par with global standards. Bosch will participate to maximize the PLI benefits which will help in overcoming some of the shortcomings linked to industrializing such technologies.”

Snapshot of performance in Quarter 2

Product sales increased by 20 percent in the second quarter of FY 2021-22, with the Powertrain Solutions division registering an increase of 16 percent and the Aftermarket division witnessing an increase of 27 percent due to a low base in Q2 of FY 2020-21. Outside the Mobility Solutions business division, Bosch recorded an increase of 36 percent mainly due to business growth in the power tools segment in July-September of 2021. The company witnessed a recovery in sales volumes with gradual improvement in business environment from COVID-19 pandemic.

Bosch India nearing its 100th anniversary

As Bosch India is nearing its centenary celebrations in 2022, the company is already on the way to transitioning into an enterprise with a digital ecosystem while remaining true to our core of manufacturing and operational excellence. The achievements and milestones of Bosch India as an organization are a testament to the combined efforts of every individual associated with the company. “Our centenary celebrations are a result of dedication, commitment, and hard work demonstrated by our associates. Bosch has always been leading in the field of the cutting-edge products, solutions, and technologies for mobility and beyond it. In 2022, we will have multiple engagements to showcase our advancements and innovations across Bosch India’s portfolio that drive towards our continued growth in the country. I am extremely proud of how far we have come, and we will continue to maintain this momentum for the years to come,” Mr. Bhattacharya further added.