Bosch Limited Registers 10.8 Percent Growth in Net Sales and Income From Operations in Q1 2014

BANGALORE, April 28, 2014 /PRNewswire/ --

2014 Quarter 1 Financial Results  

• Net Sales and Income From Operations Grew by 10.8 Percent to Rs. 2,431 Crores over Q1 2013  
• PBT Increased by 16.9 Percent to Rs. 452 Crores  
• Diesel Systems With Strong Double-digit Growth  

Bosch Limited, a leading supplier of technology and services, posted net sales and income from operations of Rs. 2,431 crores, thus registering a 10.8 percent increase over the previous year (Q1 of 2013). Domestic sales increased by 8.6 percent and Exports grew by 35 percent over Q1 2013.

Profit Before Tax (PBT) at Rs. 452 crores increased by 16.9 percent while the Profit After Tax (PAT) stood at Rs. 326 crores, resulting in an increase of 25.5 percent as compared to Q1 2013.

Announcing the company's financial results, Dr. Steffen Berns, Managing Director, Bosch Limited said, "The positive results for the quarter are a direct reflection of the good performance of our Diesel Systems and Gasoline Systems divisions. Diesel Systems benefitted from the strong tractor production and higher sales of vehicles fitted with Bosch equipments. Although overall results are positive, a continued weak consumer sentiment has limited our growth in the trading divisions. For the remaining quarters of 2014, it will be challenging to continue on this growth path."

Adding further, he said, "Operating profits, which increased by 4.3 percent only, continue to be under severe pressure, due to rupee depreciation, inflation and material cost increase. Our efforts to improve operational efficiency have yielded positive results and are being continued. The overall profit (PBT) has been boosted by increased treasury income, which includes a onetime capital gain on sale of financial investments. We continue to prepare for mid-term expansion with cautious optimism and hope for the much-awaited revival of the economy and implementation of pending policies post elections."

Snapshot of business divisions' performance  

The overall automotive business of Bosch Limited grew by 12.6 percent. Diesel Systems division was particularly strong mainly due to the strong local demand and additional exports of distributor pumps. The Gasoline Systems also picked up momentum in the first quarter, and Starter Motors and Generators Division continued to grow steadily.

The non-automotive businesses overall grew by only 4.9 percent, mainly due to tight liquidity in the market for trading business.

About Bosch  

The Bosch Group is a leading global supplier of technology and services. According to preliminary figures, its roughly 281,000 associates generated sales of 46.4 billion euros in 2013 (Note: due to a change in the legal rules governing consolidation, the 2013 figures can only be compared to a limited extent with the 2012 figures). Its operations are divided into four business sectors: automotive technology, industrial technology, consumer goods, and energy and building technology. The Bosch Group comprises Robert Bosch GmbH and its more than 360 subsidiaries and regional companies in some 50 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 2013, Bosch applied for some 5,000 patents worldwide. The Bosch Group's products and services are designed to fascinate, and to improve the quality of life by providing solutions which are both innovative and beneficial. In this way, the company offers technology worldwide that is 'Invented for life'. 

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

About Bosch in India  

In India, Bosch is a leading supplier of technology and services in the areas of automotive technology, 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 six companies, viz, Bosch Limited, Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Robert Bosch Engineering and Business Solutions Limited, Bosch Automotive Electronics India Private Limited and Bosch Electrical Drives India Private Limited. In India, Bosch set up its manufacturing operation in 1953, which has grown over the years to include 10 manufacturing sites, and seven development and application centers. Bosch Group in India employs around 26,000 associates and generated a consolidated revenue of nearly Rs. 13,200 crores in 2013.  

In India, Bosch Limited is the flagship company of the Bosch Group. It earned a revenue of over Rs.8,600 crores in 2013. 

Additional information can be accessed at http://www.boschindia.com

Media Contact: Roohie Menon, [email protected], +91-80-22992440, Bosch Limited