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Quarter 03 FY 2023–24 financial results

Bosch Limited registers 14.6% profit before tax in Q3 FY 2023-24

  • Total revenue from operations in Q3 of FY 2023–24 is up 14.9% over the same quarter of previous year
  • Profit after tax stood at 12.3% of total revenue from operations
  • Interim dividend of INR 205 per share declared for FY 2023-24
Somdatta Sen

Somdatta Sen

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Somdatta Sen

Somdatta Sen
Deputy Manager, Public Relations, Bosch India

Bengaluru, India – Bosch Limited, a leading supplier of technology and services, today posted its total revenue from operations of INR 4,205 crores (470 million euros) in Quarter 3 of FY 2023–24, an increase of 14.9% over the same quarter of last year. This growth is driven by surging demand in the overall automotive market, mainly in passenger cars and heavy commercial vehicle (HCV) segment.

The Profit Before Tax (excluding exceptional items) stood at INR 612 crores (68 million euros) which is 14.6% of the total revenue from operations, an increase of 44.1% over the same quarter of previous year. The Profit After Tax (PAT) stood at INR 518 crores (58 million euros) which is 12.3% of revenue from operations.

“Increased demand for vehicles has resulted in robust growth for Bosch Limited this quarter. With a sustained focus on localization in the mobility space and beyond, we are optimistic of the future and committed to delivering technologies and solutions that elevate the customer experience.” said Guruprasad Mudlapur, President of the Bosch Group, India, and Managing Director, Bosch Limited.

Snapshot of performance in Quarter 3
Overall product sales of the automotive segment have increased by 16.8% compared to the same quarter of the previous year. The Powertrain Solutions business, which constitutes more than 73% of the overall automotive product sales, showed a growth of 20.4% over same quarter of previous financial year, higher than the overall automotive market growth driven majorly by passenger car segment due to increase in content per vehicle.

The two-wheeler business grew by 7.1% compared to the same quarter last year on account of easing semiconductor supply bottlenecks and additional volume demands due to new product launches by OEMs in the current quarter.

The Beyond Mobility business recorded a 32.5% increase in net sales over the same quarter of the previous financial year, driven by continued growth in the consumer goods product segment.

“We strongly believe that the mobility sector will be integral to India’s development. Our focus on evolving technologies in the mobility sector has put Bosch Limited in a very good position in India. We anticipate an exciting future with a strategic emphasis on clean mobility, alternate powertrains and connected mobility solutions. Bosch’s commitment to technology and innovation places us at the forefront of shaping a connected and eco-friendly automotive landscape in India,” adds Mudlapur.

Interim Dividend
The Board of directors in their meeting held on February 13, 2024 have declared a special payout in the form of an Interim Dividend of INR 205 per equity share of INR 10 each.

Contact person for press inquiries:

Ms. Somdatta Sen
Phone: +91 9833596410
Somdatta.sen@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-toend 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, Bosch Global Software Technologies, Bosch Automotive Electronics India Private Limited, BSH Household Appliances Manufacturing Private Limited, ETAS Automotive India Private Limited, Robert Bosch Automotive Steering Private Limited, Bosch Mobility Platform And Solutions India Private Limited, Newtech Filter India Private Limited, KBWiper Systems India Private Ltd. and Mivin Engg.Technologies Private Limited. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 17 manufacturing sites, and seven development and application centers. The Bosch Group in India employs over 38,700 associates and generated consolidated sales of about Rs. 30,368 crores (3.7 billion euros) in fiscal year 2022-23 of which Rs. 18,945 crores (2.3 billion euros) are from consolidated sales to third parties. Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over Rs. 14,929 crores (1.67 billion euros) in fiscal year 2022-23.

Additional information can be accessed at www.bosch.in

The Bosch Group is a leading global supplier of technology and services. It employs roughly 428,000 associates worldwide (as of December 31, 2023). According to preliminary figures, the company generated sales of 91.6 billion euros in 2023. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Page 3 of 3 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 470 subsidiary and regional companies in over 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 136 locations across the globe, Bosch employs some 90,000 associates in research and development, of which roughly 48,000 are software engineers. 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-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The remaining shares are held by Robert Bosch GmbH and by a corporation owned by the Bosch family. 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.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.boschpress.com.

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