Bosch Limited
REVENUE FROM OPERATIONS:
Revenue from operations: INR 41,301 million, up 12.8% YoY
PROFIT AFTER TAX:
Profit after tax: INR 9,989 million, up 168% YoY
MOBILITY SOLUTIONS SALES:
Mobility Solutions sales: up 11.7% YoY
AUTOMOTIVE AFTERMARKET GROWTH:
Automotive aftermarket growth: 10.2% QoQ
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Financial Performance
The overall revenue from operations for July to September 2023 stood at INR41,301 million, which is an increase of 12.8% as compared to the corresponding period of previous year.
This growth was primarily driven by an increase in product sales, indicating strong demand across various segments.
Profit after tax for the quarter ended September '23 stood at INR9,989 million, which is 24.2% of total revenue from operations.
This significant increase in profit after tax reflects improved operational efficiency and successful cost management strategies.
Business Operations
Mobility sales have grown by 11.7% in Q2 FY '24 as compared to Q2 FY '23.
This growth in the Mobility Solutions sector indicates a robust recovery in automotive demand, particularly in the passenger vehicle and heavy commercial vehicle segments.
The sports utility vehicle segment maintained strong dispatches due to efficient order book execution and supply chain improvements.
This highlights Bosch's competitive positioning in the SUV market and its ability to adapt to supply chain challenges.
Growth Initiatives
On the technology front, this quarter we commenced on-road trials following the development of our hydrogen ICE engine project.
This initiative reflects Bosch's commitment to innovation and sustainability in the automotive sector.
Market Dynamics
Looking ahead to 2024, the election year factor and historical trends suggest restrained growth in the automotive industry.
This statement indicates potential challenges in the automotive market due to political factors, which could impact consumer sentiment and spending.
Future Outlook
We anticipate for the upcoming year, a moderate growth trajectory attributed to the election year dynamics, high baseline set in the current year and the impact of erratic rainfall patterns.
This guidance reflects a cautious approach to future growth, taking into account various external factors that could influence performance.
The erratic monsoon of '23 may have some impact on the rural sentiment.
This highlights a potential risk to demand in rural markets, which could affect overall sales performance.