Bosch Limited has posted total revenue from operations of INR 4,205 crore for Q3FY24, an increase of 14.9% compared to the same quarter of the previous year. The Profit Before Tax (excluding exceptional items) reached INR 612 crore, constituting 14.6% of the total revenue from operations. This signifies a remarkable surge of 44.1% over the corresponding quarter of the previous fiscal year. The Profit After Tax (PAT) stood at INR 518 crore, representing 12.3% of the revenue from operations.
This report delves into the key financial indicators, business segments, and strategic insights provided by Guruprasad Mudlapur, President of the Bosch Group, India, and Managing Director, Bosch Limited.
The surge in demand for vehicles, particularly in the passenger cars and heavy commercial vehicle (HCV) segment, has been a pivotal factor propelling the company’s growth in the reported quarter. Mudlapur emphasised the company's sustained focus on localisation in the mobility space and beyond, expressing optimism about the future and a commitment to delivering innovative technologies and solutions.
The automotive segment experienced a notable 16.8% increase in overall product sales compared to the same quarter of the previous year. Constituting over 73% of the automotive product sales, the Powertrain Solutions business exhibited remarkable growth of 20.4%, outpacing the overall automotive market growth. This surge was primarily driven by the passenger car segment, attributed to an increase in content per vehicle.
The two-wheeler business demonstrated a growth of 7.1% compared to the same quarter of the previous year. This growth was fueled by the alleviation of semiconductor supply bottlenecks and additional volume demands resulting from new product launches by Original Equipment Manufacturers (OEMs) during the current quarter.
The Beyond Mobility business witnessed 32.5% increase in net sales over the same quarter of the previous financial year. This growth was attributed to continued expansion in the consumer goods product segment.
Mudlapur said the company's strategic emphasis revolves around evolving technologies in the mobility sector, with a particular focus on clean mobility, alternate powertrains, and connected mobility solutions. It aims to position itself at the forefront of shaping a connected and eco-friendly automotive landscape in India, emphasising a commitment to technology and innovation.
The company’s financial performance in Q3 FY 2023-24 reflects its resilience and strategic positioning in the dynamic automotive market. Its focus on technological advancements and commitment to sustainability positions it favourably for an exciting and innovative future in the automotive sector.