Bosch Limited Registers 16.3 Percent Growth in Net Sales and Income From Operations in Quarter 3

BANGALORE, November 12, 2014 /PRNewswire/ --

- Net Sales and Income From Operations Grew by 16.3 Percent Over Quarter 3 2013 to INR 2,456.7 Crores

- PAT Increased by 30.8 Percent to INR 306.4 Crores, on Weaker Base of Quarter 3 2013

- Sales Driven by Mobility Solutions Business - Diesel and Gasoline Systems

- Quarter 3 Results are not Affected by the Ongoing Strike at Bangalore Plant

Bosch Limited, a leading supplier of technology and services, posted net sales and income from operations of INR 2,456.7 crores, registering a 16.3 percent increase over the same period of the previous year (Quarter 3 2013). Domestic sales increased by 18.5 percent and export sales grew by 3.3 percent over Quarter 3 2013.

Profit After Tax (PAT) stood at INR 306.4 crores, resulting in an increase of 30.8 percent as compared to Quarter 3 2013. There has also been a substantial increase in the non-operating income due to higher sale of one time marketable securities and other treasury related income.

"Backed by strong growth in our Mobility Solutions business, previously Automotive Technology, and on a lower base from Quarter 3 2013, we have registered a healthy performance for the given quarter. This growth is well above the performance of the Indian automotive market for the quarter, which has benefitted from the good growth witnessed in the passenger cars and heavy commercial vehicle segment. The liquidity crunch in the market still remains a concern, especially in our trading business," said Dr. Steffen Berns, managing director of Bosch Limited, announcing the company's third quarter results.

The company's Mobility Solutions business in India, which constitutes a major portion of its revenue, grew by 18.7 percent. Business divisions of Diesel Systems and Gasoline Systems performed especially well. Owing to weak markets, the company's business sectors besides Mobility Solutions overall grew marginally.

"Our localization efforts, tight budgetary control and improvement in operational efficiency continue to yield good results. The current strike at our Bangalore plant has not affected the Quarter 3 performance, since it started in the last two weeks of the quarter ending September. It will have some minor effect in the subsequent quarter's performance. We are keen to resolve the issues with our union as we look forward to sustaining our growth and competitiveness in the market," stated Dr. Berns.

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 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 www.boschindia.com

About Bosch

The Bosch Group is a leading global supplier of technology and services. In 2013, its roughly 281,000 associates generated sales of 46.1 billion euros. (NB: Due to a change in accounting policies, the 2013 figures can only be compared to a limited extent with the 2012 figures). 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 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, the Bosch Group invested some 4.5 billion euros in research and development and applied for some 5,000 patents. This is an average of 20 patents per day. 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 www.bosch.com, www.bosch-press.com and http://twitter.com/BoschPresse

Media Contact: Roohie Menon, [email protected], +91 80 22992440, Corporate Communication, Bosch