Bosch Ltd Results Summary

Bosch Limited is the flagship company of Robert Bosch Company in India. Headquartered out of Bengaluru the Company has its key manufacturing facilities in Nashik Naganathapura Jaipur Gangaikondan Chennai and Bidadi. These Plants are TS 16949 and ISO 14001 certified. The Company has nearly 18 manufacturing units in India with presence across automotive technology industrial technology consumer goods and energy and building technology. It manufactures and trades in products such as diesel and gasoline fuel injection systems automotive aftermarket products industrial equipments electrical power tools security systems and industrial and consumer energy products and solutions. The Bosch Group operates in India through twelve companies: Bosch Limited the flagship company of the Bosch Group in India BoschChassis Systems India Private Limited Bosch Rexroth India Private Limited Bosch Global Software Technologies 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. The Company is in the business of manufacture of components for the automotive industry the Company is also a leading supplier of technology and services in the areas of Mobility Solutions Industrial Technology Consumer Goods and Energy and Building Technology. Additionally Boschs largest development centre outside Germany is located in India and provides for endtoend engineering and technology solutions.Robert Bosch GmbH and Robert Bosch Engineering And Business Solutions hold a combined 70.49 stake in the company. Automotive Technology divisions include diesel and gasoline fuel injection systems car multimedia systems auto electricals and accessories starters and generators and energy and body systems. Industrial Technology divisions include packaging machines and special purpose machines. Consumer Goods and Building Technology divisions include power tools and security systems.Bosch Ltd was incorporated in the year 1951 with the name Motor Industries Company Ltd. Initially the group stepped into India with establishment of Calcutta office. In the year 1953 the company initiated their manufacturing at Bangalore Plant. In the year 1954 they stared manufacture of spark plugs singlecylinder diesel fuel injection pumps nozzleholders. In the year 1956 they started manufacture of multicylinder diesel fuel injection pumps.In the year 1972 the company expanded their manufacturing by setting up their second plant at Nashik for nozzle and nozzle holders. In the year 1981 they started manufacture of special purpose machine and tools. The Company was set up in Stuttgart in 1886 by Robert Bosch18611942 as Workshop for Precision Mechanics and Electrical Engineering. In the year 1989 they started manufacture of hydraulic products and auto electricals. In the year 1990 the company further expanded their manufacturing by setting up their third plant at Naganathapura near Bangalore for auto electricals starter motors and alternators. In the year 1993 they started manufacture of Bosch electric power tools. In the year 1994 they stared manufacture of packaging machines for food industry. In the year 1996 they launched Blaupunkt car audio systems.In the year 1998 the company established Robert Bosch Engineering and Business Solutions Ltd to cater to the ITEngineering and Business Service needs of the Bosch World. In the year 1999 the company established their fourth manufacturing plant at Jaipur to manufacture distribution pump to meet domestic and export demands.In the year 2001 the company acquired Rexroth and established themselves as a leading player in drive control and motion technology. In the year 2003 the company launched Security Technology Products in India. In the year 2005 the company established Bosch Chassis Systems India and took the leading position in automotive brake system in India. In the year 2006 the company started manufacture of Common Rail System.The company changed their name from Motor Industries Company Ltd to Bosch Ltd. In the year 2008 the company started manufacture of Gasoline Systems and Electric Drives. In the year 2009 the company started manufacture of Electronic Control Unit and Anti Lock Brake Systems. In March 2009 the company sold their Car Multimedia Aftermarket Business Blaupunkt to M/s. Aurelius AG on a going concern basis. In the year 2010 the company launched A4000 Pump meeting BS3 norms of Commercial Vehicles in India. The Naganathapura Plant expanded their product portfolio by setting up a new hangar for the manufacture of Gasoline Systems. Also the Jaipur Plant rolled out their 3 millionth VE Pump. The Bangalore Plant added new generation products with the start of production of the Rail which is part of the Common Rail system.The Nashik Plant was honored with CIIEXIM Banks Commendation for significant achievements in Business Excellence for the year 2010. The Jaipur Plant won the first prize from Rajasthan Government for Energy Conversation in the automotive segment.In 2013 Bosch India and WABCO INDIA organised SAFETY DRIVE symposium to promote vehicle safety. Bosch Power Tools sets up Indias first DIY Square in Bengaluru. Bosch Electrical Drives India inaugurates new plant in Chennai. Bosch Software Innovations introduces software suite in AsiaPacificIn 2014 the company launches Energy and Building Solutions business in India. During the year the company and Klenzaids plan joint venture in India. In 2015 the company has formally inaugurated a twoacre power tools plant at Oragadam near Chennai. The company wins InterSolar Award 2015. During the year the company also signed MoU with the Indian Institute of Science Bangalore Industryacademia collaboration key to innovation. The company inaugurates first office in Colombo Sri Lanka. Indian Prime Minister Modi and Chancellor Merkel also visited the companys facilities in Bangalore during the year. The company commissions 12 MW solar project for Cochin International Airport Limited CIAL during the year. On 27 August 2015 Bosch Ltd formally inaugurated its new manufacturing facility at Bidadi Bengaluru in the State of Karnataka at a built up area of approximately 38000 square meters with an investment of around Rs 340 crore. On 5 February 2016 the Board of Directors of Bosch approved in principle the transfer by way of sale of the Starter Motors and Generators business of the company SGIN as a going concern on a slump sale basis to a subsidiary of Robert Bosch Starter Motors Generators Holding GmbH as a going concern on a slump sale basis.On 1 July 2016 the Board of Directors of Bosch approved the buyback of 878160 fully paid up equity shares representing 2.796 of the total paidup equity share capital of the company at a price of Rs 23000 per share aggregating to Rs 2019.76 crore through the Tender Offer route. The Company has bought back 878160 shares during the year ended March 31 2017 at buyback price determined at Rs.23000/ per share.On 22 May 2017 the management of Bosch Limited broke ground at Bidadi manufacturing unit for the development of the second phase. Expected to be completed by mid of 2019 the second phase of Bidadi will have the capacity to accommodate around 2500 associates. A powertrain plant Bidadi will primarily manufacture new generation and conventional fuel injection products and components.On 22 August 2017 Bosch announced the commissioning of a 4 MW solar project for the New Mangalore Port Trust NMPT.As on 31 March 2018the company has one subsidiaryMICO Trading Pvt Ltd and one associate companyNewtech Filter India Pvt Ltd.During the FY2019 pursuant to the appropriate approvals the Company had made an offer for buy back and accordingly bought back 1027100 fully paidup equity shares of the Company at a price of Rs. 21000 per share for an aggregate amount of Rs 21569 million and has extinguished such equity shares.In accordance with the approvals received from the Board of Directors on May 21 2019 and from the shareholders on August 23 2019 the Company has executed the Business Transfer Agreement on October 1 2019 and transferred the business of Packaging under the nonautomotive products segment of the Company on a going concern basis by way of slump sale to Robert Bosch Packaging Technology India Private Limited subsidiary of Robert Bosch Packaging Technology GmbH Germany. As on 31 March 2020the company has one subsidiaryone joint venture and one associate company.During the FY2020PreBo Automotive Private Limited PreBo was incorporated on May 08 2019 with its registered office at Bengaluru for the purpose of carrying out the business of manufacturing/assembly and supply of mechanical and electro mechanical components and assemblies for automobile and nonautomobile industry. PreBo Automotive is a joint venture where Bosch Ltd have 40 stake.Amidst COVID19 crisis India went ahead with its decision to adopt the BS VI standards as planned on April 1 2020. In the current times this indeed was a sizable challenge for the company. On March 24 2020 the Indian Government announced a nationwide lockdown to contain the COVID19 outbreak. The pandemic and the lockdown that followed disrupted the supply chains. Robert Bosch India Manufacturing and Technology Pvt Ltda wholly owned subsidiary of Bosch Ltdhas been incorporated on 31 May 2020 for the purpose of carrying out the business of manufacturingassembly and services in the area of automotiveindustrialconsumer goodsenergy and building sectors.In June 2020 a comprehensive manufacturing strategy was launched across Bosch with a purpose of making Bosch India manufacturing globally competitive. During the FY 2021 Bosch stays invested in future with strategic investments in emobility and connected services. At the peak of its transformational journey Bosch Limited has been recognized as a Great Place to WorkCertified T company for 2021 an accolade that more than 1000 organizations in India aspire to every year. Bosch Limited has continued investment in its 3R strategy of restructuring reskilling redeployment and other transformational projects. To support this an additional amount of Rs 146.6 crore has been provided and disclosed as an exceptional item for the quarter ended December 31 2020. This is the last tranche extended under the current 3R strategy. The total investments in FY 202021 amounted to Rs 246 crore with major spend on the expansion of companys Adugodi campus into a smart campus.Bosch Limiteds Mobility Solutions business sector increased by 2.4 in FY 202021 amidst lockdown in April and part of May 2020. Domestic sales increased by 1.2. Within the Mobility Solutions sector the Powertrain Solutions division registered an increase of 1.8 owing reasons mentioned above. Business beyond Mobility solutions has recorded a decline of 11.7.During the year 2021 the Company through Robert Bosch Investment Nederland B.V. acquired 26 percent in SUN Mobility. With a focus on developing convenient mobility solutions it invested in a startup funded venture called Routematic Nivaata Systems Pvt. Ltd. based in Bengaluru.In FY21 the Companys TwoWheeler business division made an entry into commuter motorcycle engine management solution space through a key project acquisition at an OEM. It expanded its customer portfolio by entering into a new agreement with one of the leading twowheeler manufacturers to develop engine management solutions for high end motorcycles. In FY21 the Company ventured intoelectrification of twowheelers by successfully enabling two key OEMs launch electric scooters in the Indian market.During the year 2021 Nashik Plant diversified its product lineup from passenger cars until off high way applications. A new generation CR118 was launched successfully equipping the Plant with BSVI compliant products. In addition the Plant is also certified IATF: 16949. The plant has a strong focus on System CIP approach to reach the VSD. Speed week is done almost every week to bring in speed. In H2 2020 24 speed week workshops were done. Shainin has strong roots and used extensively for problem solving and cost reduction. 38 projects were done in 2020 realizing 50 mINR savings. To improve agility based on data culture speed Shainin concept was also developed and bringing in good results.In 2021 the Company collaborated with Deutsche Gesellschaft fr Internationale Zusammenarbeit GIZ GmbH to jointly launched a green urban mobility innovation initiative to implement sustainable inclusive and smart mobility solutions across several Indian cities.On 30th June 2022 the Company inaugurated the smart campus in its 76acre property in Adugodi Bengaluru.In 2022 the Company invested Rs. 133.5 million for a 26 stake in Autozilla Solutions a startup in Hyderabad that operates a B2B ecommerce marketplace for expanding its buying and selling auto. The Company is prioritizing localization levels across core segments including 65 percent in diesel and 70 percent in spark plug and traded products. It s set to improve localization by focusing on adding on more products for the local market.