Bosch Limited
REVENUE: INR 1,67,271
Revenue: INR 1,67,271 million, up 12% YoY
EBITDA: INR 5,572
EBITDA: INR 5,572 million, up 6.7% QoQ
PAT: INR 24,905
PAT: INR 24,905 million, up 41.4% QoQ
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Financial Performance
Revenue from operations in Jan to March '24 stood at INR42,334 million, which is a growth of 4.2% over Jan to March '23.
This growth is primarily driven by the mobility aftermarket business, two-wheeler business, and consumer goods business.
The profit after tax in absolute terms grew by 41.4% in Jan to March '24 over the same quarter of previous year.
This includes a one-time credit of income tax received pertaining to assessment year 2013-2014.
EBITDA as a percentage of total revenue improved from 12.9% in Jan to March '23 to 13.2% in Jan to March '24.
The improvement in EBITDA margin is mainly attributable to increased revenue and lower spending in other expenses.
Business Operations
Our mobility business has grown by 2.7% in Jan to March '24 as compared to Jan to March '23.
This growth was driven mainly due to growth in mobility aftermarket business by 9.4%.
Despite global headwinds, the Indian automotive industry exhibited resilience.
India solidified its position as the third largest automotive market worldwide.
Growth Initiatives
We pioneered the development of the first hydrogen engine demo truck in India.
This demonstrates our unwavering commitment to innovation in the automotive industry.
We are fully equipped to assist our customers with advanced sensor solutions.
This readiness is in anticipation of the transition to BS-VI OBD II norms and projected growth in two-wheeler sales.
Market Dynamics
There is a growing inclination towards alternate fuels evidenced by increased demand for strong hybrids and electric vehicles.
This trend reflects changing consumer preferences and the industry's shift towards sustainability.
Future Outlook
We anticipate a moderate growth trajectory for the upcoming year, influenced by election year dynamics.
This guidance considers the high baseline set in the current year and the impact of erratic rainfall patterns.
The erratic monsoon of '23 may impact rural sentiment potentially affecting tractor volumes.
This highlights the sensitivity of the tractor segment to environmental factors.