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Bosch Ltd AGM Information 2021

Jul 15, 2021

61019_rns_2021-07-15_260eb2f8-a54c-4232-99e6-6f86af7db768.pdf

AGM Information

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The Manager (Listing) The Manager (Listing) National Stock Exchange of India Limited Corporate Services Department “Exchange Plaza”, 5[th] Floor, BSE Limited, Plot No.C/1, G Block Regd.Office: Floor 25, Bandra – Kurla Complex, Phiroze Jeejeebhoy Towers Bandra (E) Dalal Street MUMBAI – 400 051 Mumbai – 400 001

Bosch Limited Post Box No:3000 Hosur Road, Adugodi Bangalore-560030 Karnataka, India Tel +91 80 6752 2315 www.boschindia.com L85110KA1951PLC00761

15.07.2021

Dear Sirs,

Sub: Compliance under Regulation 47 of SEBI ( Listing Obligations and Disclosure Requirements ) Regulations, 2015.

Pursuant to Regulation 47 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, please find enclosed Public Notice published today (i.e. 15.07.2021) in the Newspapers (including e-Newspapers) viz.-Business Standard (in English) and Kannada prabha (in kannada), informing about the 69[th] Annual General Meeting of the Company to be held on August 05, 2021 through Video Conferencing/Other Audio Visual Means.

Kindly take the same on record.

Thanking you,

Yours faithfully, for Bosch Limited,

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Rajesh Parte Company Secretary & Compliance Officer

Encl.: as above.

Registered Office: Bosch Limited, Hosur Road, Bangalore-560030, Karnataka, India Managing Director: Soumitra Bhattacharya, Joint Managing Director:S C Srinivasan

TAKE TWO 7

MUMBAI | THURSDAY, 15 JULY 2021

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A chip in global recovery

Vehicles, computers, mobile phones and other smart gadgets, with sticker prices ranging up to thousands of dollars, are stuck on assembly lines for lack of components that may just cost a couple of dollars

REUTERS

DEVANGSHU DATTA New Delhi, 14 July

n the last three months, many large global and domestic auto manufacI turers — Tata Motors, Ford, Mahindra, Volkswagen, Audi, Fiat, General Motors — have issued advisories stating production levels will be held well below capacity. Electronics giant Apple has also said it cannot produce iPhones fast enough to meet demand. Sony has struggled to meet demand for its new Playstation5. More - over, many of these companies have stated that they expect production cuts to last until mid-2022, at least. The opportunity costs of lower production will run into many billions. The causes are the same across diverse industries. Supply chains are stuttering due to a shortage of chips. Even Intel, Qualcomm, and AMD, chip manufacturers themselves, are contain lots of chips, mostly lower-end There are many, many chip designers experiencing shortage in key components. ones. There are chips and sensors embed— but “fabless” is the normal state of Semiconductor manufacturers are ded everywhere in modern vehicles. affairs for a chip company. The company working desperately to increase capacity, Most automobile companies (if not all) designs the chip and then contracts out but it will take a while. Until chip supply use just-in-time (JIT) manufacturing parto Taiwan or China for the fabrication. rises to meet demand, and the best guess adigms to source components. So, they Economies of scale are vastly important. seems to be mid-2022 or later, one can see cut their standing orders with semiconA full-fledged fab facility of reasonable an apparently absurd situation: Vehicles, ductor companies. Ironically, Toyota, scale requires upwards of $15 billion in computers, mobile phones, and other which was a pioneer in JIT, was flexible investments. Even a smaller specialised smart gadgets, with sticker prices ranging enough to stock up on chips during the facility will require at least $3 billion in up to many thousands of dollars, are stuck pandemic and as a result, it now claims it investments. Setting up new chip fabrion assembly lines for lack of components has several months of chip inventory and, cation facilities takes quite a while. Apart that may just cost a couple of dollars. therefore, need not cut production. from land, equipment, and skilled labour, How did this happen? The demand for A faster-than-expected recovery in the a fabricator needs vast quantities of certain categories of chips surged during global economy then coincided with a absolutely pure water, or it has to set up the pandemic. As Work from Home, Study behavioural change in consumers. People excellent water purification and recycling from Home and Play from Home became shifted to personal vehicles from crowded systems. This is a constraint. It is one reathe norm, people bought public transport. That meant son India’s initiative to encourage domesmore PCs (the PC and laptop There are very few automakers were caught flattic semiconductor production and attract market witnessed its best year semiconductor footed a second time and overseas fabricators is not going to be easy of growth since 2009-10), manufacturers in when they tried to increase because pure water is a very scarce smartphones (Apple and the world. Most of chip orders, they discovered resource in India. Samsung had huge revenue the contract that they were behind in the TSMC says it will spend $28 billion to growth), high-end Wi-Fi capacity is with queue. Apple alone consu - expand capacity and its new facilities will equipment and routers, print- TSMC in Taiwan mes more semiconductors come online with full production over 2022ers, home theatre systems, and SMIC in China, (worth $58 billion) than the 23. Most projections suggest the chip shortand so on. They also bought with a few other entire global auto industry age will start easing in mid-2022, with some smart home gym equipment players such ($40 billion) and mobile categories seeing faster improvements in like Bluetooth-enabled exer- as Samsung phones use higher-end, highsupply, and some staying under pressure cycles and treadmills; and er-margin chips compared to till 2023. Apart from India, the European they bought game consoles cars. So chip makers had little Union is offering incentives for fabricators, and headphones. Cloud service providers incentive to prioritise the auto industry. and the US is thinking about it. had to expand capacity to service this new There are very few semiconductor The shortage will, of course, mean demand, which meant that they needed manufacturers in the world. Most of the shortages and inflated prices across more chips, too. contract capacity is with TSMC in Taiwan many downstream categories. It could Every one of those gadgets and gizmos, and SMIC in China, with a few other playbe a windfall for those who have more not to mention cloud servers, contains ers such as Samsung, which consumes a assured supply. Samsung and Toyota chips of some description, usually multilarge percentage of its chips internally have both raised earnings estimates by ple types. Apart from the major processing (apart from supplying chips to rivals like over 50 per cent, which is amazing for units, there will be chips that do vital Apple). There are also specialty players mega-billion multinationals. Even so, things such as manage power, monitor such as SK Hynix, which manufacture Samsung, which consumes over $36 bilscreen displays, connect to routers, cammemory. In addition to the supply crunch, lion worth of chips internally and sells era sensors, and the like. the US-China trade war meant SMIC another $56 billion, says it would have This surge in demand meant capacity couldn’t import high-end manufacturing done better if it hadn’t faced a supply in the semiconductor industry was stret - equipment to increase capacity from the crunch. The management theorists will ched. At the same time, auto manufacturUS, or sell to American companies. This be studying what happened in the semiers saw a slump in sales. Cars and bikes exacerbated the situation. conductor industry for years to come.

India’s hunger crisis: Lines for free food, rations grow

and slow vaccination rollout, delivering basic goods for the India’s hunger crisis: Lines poor is crucial to his efforts to keep the Bharatiya Janata Party as the most dominant political force in India. “In this time of for free food, rations grow the pandemic, the government ARCHANA CHAUDHARY is standing by the poor as their 14 July partner for their every need,” Modi said in his address to the Chanchal Devi’s three children nation on June 7. haven’t tasted milk for almost a The Prime Minister’s office year. The staple was among didn't respond to questions on items the 35-year-old and her his government’s plans to re li - husband could no longer afford eve food distress. State governafter they both first lost work ments have also struggled to when India’s capital New Delhi deliver food to the poor. Res p - went into lockdown in March on ding to an order from the last year. Their distress deepen - high court to resume hunger ed after this April due to a surge relief measures amid Delhi’s in Covid-19 infections. They are lockdown in April, Chief Min i - now borrowing money to buy s ter Arvind Kejriwal announ ced food and watch their schoolplans to provide free foodgrains aged kids eat less, often going for two months to 7.2 million to bed on empty stomachs. ration card holders and finan“I can’t sleep at nights,” said for the needy. bution shop at 5 am nearly every cial aid of ~5,000 to 156,000 Chanchal from her home in Lal As India’s economy shrunk day in June to ensure he got autorickshaw and taxi drivers. Gumbad Basti, a neighbourby 7.3 per cent last year, the daily there before supplies ran out. Abhinandita Mathur, a hood of migrant workers about average wage for about 230 milAnd at least he was eligible: spokeswoman for the Delhi gov20 minutes away from Parlia - lion Indians — enough to make more than 100 million people ernment, said on July 7 that ment. “I’m so tired of worrying the world’s fifth-largest nation remain outside the governfood rations were being replenabout arranging the next meal.” — dropped below the ~375 ($5) ment’s public distribution sysished after stocks ran out in Families like Chanchal’s — threshold, according to a study tem because coverage is calcuJune, leaving many stranded. two wage-earners with some by the Azim Premji University lated on outdated census data, In Mumbai, Swaraj Shetty savings, living in rented accomin Bengaluru. “An alarming 90 according to a study last year by co-founded the Khaana Chah - modation — are among legions per cent of respondents” reporteconomists Reetika Khera, Meg - iye, or Want Food collective, last of Indians who saw their econo - ed “that their households had hana Mungikar and Jean Dreze. April to distribute meals and dry mic toehold ripped away in suffered a reduct i - “On days when rations. What was expected to lock downs over the last 12 mon - on in food intake as The middle- they had food, rations be a short-term effort by a group ths. More than 15 million Ind - a result of the lock- class in India got over before my of citizens widened to respond ians lost their jobs in May alone down,” it said. — those with turn arrived,” said to increasing distress calls for at the height of a devastating The number of incomes Kumar, who is still food through its “Report Hun - wave that overwhelmed hospipeople living in between $10 struggling to find work ger” initiative from beyond tals and crematoriums, accordhouseholds with and $20 per after both he and his Mum bai and as far off as cities ing to the Centre for Monitoring daily incomes bel - day — shrunk wife lost their jobs last like Pune and Bengaluru, she the Indian Economy. ow $5 level spiked by 32 million year. “On other days, said. “Last year it was mostly All of that is leading to an from 298.6 million during the they said they had migrant workers, but this year increase in hunger, particularly at the start of the 2020 recession, nothing to distribute.” we’ve been seeing people from in urban areas, in a nation that outbreak in March according to The government is the middle-class line up for already accounts for nearly a 2020 to 529 million Pew Research required by law to prohelp,” Shetty said. India’s midthird of the world’s malnourat October-end, the Center vide 5 kg of rice, wheat dle-class, defined as those with ished people. While few statisstudy said. “If last and coarse grains at incomes between $10 and $20 tics are available, workers at year was harrowing, it’s tough subsidised rates as low as one per day, shrunk by 32 million food distribution centres in to get a true sense of the extent rupee per kilo to India’s poorest during the 2020 recession amid major Indian cities say they of the crisis this year,” said Amit each month. In June 2020, after the pandemic, according to Pew can’t remember seeing lines this Basole, director of the Centre for millions of migrants walked Research Center. long of people yearning for Sustainable Employment at back to their villages on foot Sujata Sawant, 44, has also something to eat. “This desperAzim Premji University and cofrom locked-down cities, Prime seen demand grow at a commuation for food and the long lines author of the State of Working Minister Narendra Modi anno - nity kitchen she started in April. for rations in families with two India report. “This year, people unced an additional 6 kg a mon - After initially feeding 300 peowage-earners is unprecedenthave depleted savings and are th per person until November, ple with the help of local ed,” said Aditi Dwivedi, who paying back debt. We don’t ex - at a cost of ~1.5 trillion ($20 bilwomen, her group now gives works with migrant communip ect anyone to be back to lion). The programme was meals to more than 1,300 people ties in the capital at Satark Nag - January-February 2020 levels restarted in April and has been every day. “We can’t cater to so rik Sangathan, a group that of income this calendar year.” extended to November 2021. many who need it,” she said. works on transparency and acc - In southeast Delhi, 45-yearFor Modi, who has faced “The numbers are increasing ountability in government that old Naresh Kumar had to line widespread criticism for his govdaily. The costs are prohibitive.” has advocated for more food aid up outside his local food distriernment’s pandemic response BLOOMBERG

95% firms to go on with remote working for 2 yrs

GOING DIGITAL 86% Respondents who believe that IT leaders 97% Organisations that increased their reliance are better equipped to on the cloud assume the CEO mantle 91% Respondents who 89% Increase in security said their confidence in challenges organisations AI has increased during faced due to work-fromthe past two years home policy

SHINE JACOB AI, with 89 per cent firms reporting Chennai, 14 July better results because of it. The study also revealed that the Around 95 per cent of Indian comtech leadership team is heavily panies are planning to stick with trusted to lead the company into remote working for the next two the future. This was reinforced by years, at least, according to a sur86 per cent of the respondents vey by ManageEngine, the IT manbelieving that IT leaders are better agement division of Zoho equipped and qualified to assume Corporation, a Chennai-headquarthe chief executive officer's mantle tered tech firm that makes webcompared to those occupying roles based business tools. in other departments such as sales, The survey covered 1,210 IT marketing and finance. executives and technology profes“The report shows that IT rem - sionals from North America, the ains a critical business enabler, United Kingdom, Australia, New especially in times like the present. Zealand, Singapore and India. In Companies are realising that India, 202 respondents from busidynamic, quick, data-driven decinesses with more than 500 sion-making is key to build differemployees across 18 industry verentiation and deliver a great custicals completed the survey. tomer experience, which increases Overall, 89 per cent of the their reliance on AI and deep anarespondents said implementing a lytics,” said Rajesh Ganesan, vice work-from-home policy had president of products at increased security challenges for ManageEngine. ManageEngine their organisations. The risk posed has grown by 35 per cent in the last by shadow IT was especially high, one year, while cloud platform and with 89 per cent of companies havapplications (under Zoho) posted ing no control over the software a growth of around 50 per cent. that employees purchase and “The focus on security is the install on their devices. top priority, as a majority of those At least 97 per cent of the surveyed revealed that remote companies had increased their wor kers increase security risks, reliance on cloud solutions owing specifically threat vectors to to the Covid-19 pandemic, and employees including phishing, tararound 96 per cent said they had geting employee devices, malware, seen an increase in business anaaccount hijacking, and social lytics and artificial intelligence, media exploits,” the report said. with AI improving business It found that India is leading insights, operations and cusmost global averages in the new tomer satisfaction. skills IT professionals need to More than nine out of 10 execlearn, with public cloud topping utives and IT professionals reportthe list. For Indian companies, ed that the pandemic had the adoption of new technology increased cloud use. And around is dri ven by the need to improve 91 per cent of the companies said reliability, security and competthere was increased confidence in itiveness.

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Singapore United
8% States or
Canada
33%
India 17%
RESPONDENTS
ACROSS
GEOGRAPHIES
17%
25%
Australia or United
New Zealand Kingdom
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SKILLS & SECURITY

Questions Global average India-specific data What new tech skills Remote worker Public cloud usage/ has the pandemic support (47.8%) services (48%) required you to learn? At your company, Phishing Malware which security threats (51.6%) (47.7%) have increased? What security actions has Raised employee Employee training on your company taken? awareness (71.4%) cybersecurity (71.1%) At your company, which IT (62.6%) IT (66.3%) groups have increased use of business analytics? At your firm, what Improve security Increase reliability drives decisions to (55.9%) (59.4%) adopt new tech? What have employees Online meeting Online meeting purchased without tools (38.3%) tools (50.5%) IT approval? What would increase Increased Increased your firm’s confidence in security (56%) performance (61%) cloud-based solutions? Which groups have IT (59.5%) IT (65.3%) increased their use of cloud solutions?

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