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Quarter 02.2022–2023 financial results

Bosch Limited registers 13.3 percent profit before tax in Q2 FY 2022-23

  • Total revenue from operations in Q2 of FY 2022–23 increased by 25.5 percent over the same quarter of previous year
  • Profit after tax stood at 10.2 percent of total revenue from operations
  • Bosch India celebrates 50 years of precision manufacturing at Nashik plant
Shakambhari Thakur

Shakambhari Thakur

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Bengaluru, India – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 3,662 crores (447 million euros) in Quarter 2 of FY 2022–23, an increase of 25.5 percent over a low base in same quarter of previous year, which was impacted by COVID-19 pandemic. This has further increased compared to the all-time high revenue achieved in the previous quarter with INR 3,544 crores (432 million euros), influenced by the easing of chip shortage, aiding the broad-based growth in auto supply.

Profit before tax stood at INR 487 crores (59 million euros) that constitutes to 13.3 percent of total revenue from operations that is a 22.5 percent increase over the same quarter of previous year.

“The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year. Although supplies in semiconductor have eased out relatively, the supply chain ecosystem itself continues to remain fragile. Despite these uncertainties including rising input costs, we expect to build on the strong performance of this quarter,” said Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India.

Snapshot of performance in Quarter 2
The automotive market in Quarter 2 witnessed a strong Y-o-Y growth on a Covid impacted low base. The Powertrain Solutions business which constitutes more than 60% of the total net sales showed a robust growth outperforming the overall automotive market growth. This has resulted in an increase of 31.1% in the product sales of automotive segment. With the easing of the chip shortage the sales in the 2-Wheeler segment also saw a growth of 21%. The Beyond Mobility businesses recorded an increase of 7.5% in net sales mainly due to growth in the security solutions and a sustained growth in the consumer goods division, supported by the festive season demands.

As Bosch India celebrates 100 years, we also celebrated 50 years of Make in India, underlining our commitment towards precision manufacturing at the Nashik Plant. Commemorating this milestone, a new Common Rail Injector (CRIN) line for commercial vehicles was inaugurated, to cater to the Indian customers. Bosch Limited also launched the pilot Hydrogen Engine Testing infrastructure with temporary storage setup in Bangalore, which is the first of its kind facility in Bosch.

“We are happy to inaugurate our inhouse developed CRIN line in Nashik to cater to the Indian commercial vehicle market, in line with Government of India’s vision of Atmanirbhar Bharat. Addressing the changing regulatory emission norms, this line will further increase our share of local production,” said Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India.

He added, “Bosch is also gearing up to become a system solution provider for newage technologies in the mobility space. We have set up a state-of-the-art Hydrogen Engine Test Infrastructure at our Adugodi campus in Bengaluru. Through this, we look forward to developing and advancing our capabilities in the hydrogen engine and fuel cell technologies and propel the alternative fuel revolution in India.”

Contact person for press inquiries:

Ms. Shakambhari Thakur
Phone: +91(80)6752-3398
shakambhari@in.bosch.com

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 twelve companies: Bosch Limited – the flagship company of the Bosch Group in India – 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. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 16 manufacturing sites, and seven development and application centers. The Bosch Group in India employs over 30,000 associates and generated consolidated sales of about ₨.11,781 crores* (1.39 billion euros) in fiscal year 2021-22 of which ₨. 10,264.3 crores* (1.21 billion euros) are from consolidated sales to third parties.

Additional information can be accessed at www.bosch.in

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,600 associates worldwide (as of December 31, 2021). The company generated sales of 78.7 billion euros in 2021. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. 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 facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. 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 some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 128 locations across the globe, Bosch employs some 76,100 associates in research and development, of which more than 38,000 are software engineers.

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

The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). According to preliminary figures, the company generated sales of more than 70 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2015, Bosch applied for some 5,400 patents worldwide. 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.”

Further information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

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