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Bosch to increase focus on manufacturing parts for the Low-Price vehicles Print E-mail
Written by Anand   
Friday, 06 March 2009
Bosch Limited registers 6 % growth in 2008

Bangalore : Announcing the company’s financial results for 2008, Mr. V. K. Viswanathan, Managing Director, Bosch Limited, said “Our growth last year was significantly below our plan and expectation due to the sharp and sudden slowdown in the Indian economy in general and the automotive sector in particular in the fourth quarter of 2008.The stimulus packages announced by the Government of India are expected to improve the demand in domestic market from the lows of December 2008.” 

Bosch Limited has registered a sales growth of 6% in the year 2008. The company posted net sales of Rs. 45,416 million in 2008 registering a growth of 6.1% over 2007. The Profit Before Tax (PBT) stood at Rs. 8,566 million accounting for 18.9% of net sales, compared to 20% in 2007. The Profit After Tax (PAT) stood at Rs. 6,339 million, which is 14 % of net sales compared to 14.2% for the previous year. Significant one-off financial income from investments helped in achieving this profitability.

Road Ahead

Bosch has been the pioneer of Low Price Vehicle solutions in the Indian market. The market for such vehicles is expected to grow substantially in the coming years, which will generate additional business for the company. Bosch will focus more on manufacturing parts for the low-cost vehicles.

“Product and Process innovation, the Low Price Vehicle segment and the non-automotive business sectors will continue to receive a high level of priority in 2009 and beyond” said Mr. V K Viswanathan, Managing Director, Bosch Limited.

Non-automotive business shows good growth

The Consumer Goods and Building Technology business of the company is expected to continue its growth trajectory. The recent policy initiatives and announcements of the Government to improve the infrastructure will benefit our businesses engaged in this sector. 

The company’s Automotive Technology business achieved a growth of 4.3% in 2008. Notable among these are the Automotive Aftermarkets business which grew by 19.3% and the Gasoline business by 54.6%, albeit on a small base. The Heavy Commercial Vehicles segment is the hardest hit in the automotive sector and this had an adverse effect on our business in the year under review.

The non-automotive business sectors of the company showed satisfactory results. The Packaging technology business grew by 12.7%, whereas the Power Tools and Security Systems businesses grew by 27.7% and 21.4% respectively. 

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