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Bosch Ltd Interim / Quarterly Report 2020
61019_rns_2020-11-06_ebacef60-2de5-4ec3-8a2a-8a136897fd70.pdf
Interim / Quarterly Report
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Corporate Relationship Department BSE Limited ist Floor, New Trading Ring Rotunda Building Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai -400 001 Scrip code:500530
The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, C -i, Block G Bandra-Kurla Complex, Bandra (E,) Mumbai -400 051 Scrip code: BOSCHLTD
Bosch Limited Post Box No:3000 Hosur Road, Adugodi Bangalore- 560030 Karnataka, India Tel +91 BO 6752 1750 www bosch .i n L85110KA1951PLC000761 06.11.2020
Dear Sir/Madam,
Sub: Outcome of the Board Meeting-Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
This is to inform you that the Board of Directors of Bosch Limited (the "Company") at their meeting held today i.e. November 06, 2020 has, inter-alia, noted / approved the following:
-
- Unaudited Standalone & Consolidated financial results for the quarter and the half year ended September 30, 2020 along with the Limited Review Report thereon;
-
- Investment in Nivaata Systems Private Limited up to 7.14% of the Capital on fully diluted basis, aggregating to an amount not exceeding Rs. 148 Million;
-
- Resignation of Mr. Peter Tyroller as a Director of the Company w.e.f. December 31, 2020 due to his retirement from the services of Robert Bosch GmbH, promotor of the Company;
-
- Appointment of Dr. Stefan Hartung (Non-Executive Non Independent director) as an Additional Director w.e.f. January 01, 2021. Pursuant to SEBI Circular dated June 20, 2018, we confirm that Dr. Stefan Hartung is not debarred from holding the office of director by virtue of any SEBI order or any other such authority;
-
- Cessation of Mr. Sandeep N as an Alternate Director to Mr. Peter Tyroller w.e.f. December 31, 2020;
-
- Appointment of Mr. Sandeep N as an Alternate Director to Dr. Stefan Hartung w.e.f. January 01, 2021. Pursuant to SEBI Circular dated June 20, 2018, we confirm that Mr. Sandeep N is not debarred from holding the office of director by virtue of any SEBI order or any other such authority;
-
- Appointment of Mr. Sandeep N as a Whole -time Director of the Company (consequent to his appointment as an Alternate Director to Dr. Hartung) for a period from January 1, 2021 to December 31, 2022, subject to approval of the Shareholders.
-
- Resignation of Mr. Jan-Oliver Roehrl as a Director and Joint Managing Director w.e.f. December 31, 2020 due to his assuming new responsibility as an Executive Vice -President in Robert Bosch GmbH;
Registered Office: Bosch Limited, Hosur Road, Bangalore -560030, Karnataka, India Managing Director: Soumitra Bhattacharya, Joint Managing Director: Jan -Oliver Rohrl
Please find enclosed herewith the following:
-
- Unaudited Standalone & Consolidated financial results for the quarter and half year ended September 30, 2020 along with Limited Review Report ( Annexure -A);
-
- Details of investment in Nivaata Systems Private Limited pursuant to SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015 (Annexure -B);
-
- A brief profile of Dr. Stefan Hartung pursuant to SEBI Circular ClR/CFD/CMD/4/2015 dated September 09, 2015 (Annexure -C);
-
- A brief profile of Mr. Sandeep Nelamangala pursuant to SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015 (Annexure -D);
-
- Press Release dated November 06, 2020 (Annexure -E);
The Board Meeting commenced at 1130 hours and concluded at hours. 1430
This is for your information.
Thanking you,
Yours faithfully, for Bosch Limited,
(Rajesh Parte) Company Secretary and Compliance Officer
End: as above
Deloitte Haskins & Sells LLP
Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High GroundsBengaluru - 560 001 Karnataka, India
Tel: +91 80 6188 6000 Fax: +91 80 6188 6011
INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS OF BOSCH LIMITED
-
- We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of BOSCH LIMITED ("the Company"), for the quarter and six months ended September 30, 2020 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
- This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
-
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
-
- Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants (Firm's Registration No. 117366W/W-100018)
Tlack to fil
Monisha Parikh Partner (Membership No. 047840) UDIN: 20047840AAAAEM2932
Bengaluru, November 06, 2020 MP/MS/2020
Regd, Office: Indiabulls Finance Centre, Tower 3, 276 - 324 Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013, Maharashtra, India. (LLP identification No. AAB-8737)
Bosch LimitedFegistered office : Hosur Road, Adugodi. Bengaluru- 560 030Website: www.bosch.in, e-mail ID: [email protected]. Tel: +91 80 67521750CIN: L65110KA1951PLC000761
| PART-1 | (Rs. In Lakhs) | ||||||
|---|---|---|---|---|---|---|---|
| Currentthree monthsended | Preceding threemonths ended | Correspondingthree monthsended | Year to datefigures for thecurrent periodended | Year to datefigures for theprevious periodanded | Year ended | ||
| Particulars | September 30,2020 | June 30, 2020 | September 302019 | September 302020 | September 30.2019 | March 31, 2020 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| 1 Income | |||||||
| (a) Revertus from operations | 247,918 | 99.154 | 231.268 | 347.072 | 506,812 | 984.163 | |
| (b) Other Income | 10,148 | 17 338 | 16,746 | 27,486 | 26,521 | 54.655 | |
| Total Income (a+b) | 258,066 | 116,492 | 248,014 | 374,558 | 533,433 | 1,038,819 | |
| 2 Expenses | |||||||
| (a) Cost of materials consumed | 57,803 | 20,671 | /8.357 | 78,474 | 140,911 | 230,468 | |
| (b) Purchases of stock-in-trade | 75,910 | 28,260 | 70 435 | 104, 170 | 152.191 | 278.128 | |
| (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade | 13,444 | 8,256 | (20, 666) | 21,700 | (14, 957) | 22,339 | |
| (d) Employee benefits expense | 30,833 | 24.268 | 33 490 | 55,101 | 66,730 | 126,853 | |
| (e) Finance costs | 132 | 181 | 57 | 313 | 235 | 1,015 | |
| (I) Depreciation and amortisation expense | 7,960 | 7,263 | 8,273 | 15,243 | 15,764 | 38,328 | |
| (g) Other expanses | 41,122 | 27,908 | 35,960 | 69,030 | 77.769 | 178,043 | |
| Total expenses | 227,204 | 116,827 | 205,906 | 344,031 | 440,643 | 875,175 | |
| 3 | Profit/ [loss] before exceptional items and tax (1 - 2) | 30,852 | (335) | 42,108 | 30,527 | 92,790 | 163,644 |
| $\boldsymbol{A}$ | Exceptional Items (Refer Note 5) | 40,000 | 19,718 | 13 020 | 59,718 | 21,230 | 71,675 |
| 5 Profit/ (loss) before tax from continuing operations (3 - 4) | [9, 138] | (20, 053) | 29,088 | (29, 191) | 71,560 | 91,969 | |
| 6 Tax expense/ (credit) of continuing operationsCurrent lax | |||||||
| (i) for the year | 4,913 | (43) | 9,105 | 4,870 | 22,730 | 35,237 | |
| (ii) relating to earlier years | (2, 983) | (590) | (2,983) | (590) | (1,994) | ||
| Deferred tax charge/ (credit) | (7.572) | (4, 981) | (4, 179) | (12.553) | (3, 488) | (14.237) | |
| Total tax expense/ (credit) | (2,659) | (8,007) | 4,336 | (10, 666) | 18,652 | 19,006 | |
| $\overline{\phantom{a}}$ | Profit/ (loss) for the period from continuing operations before impact of tax ratechange | (6, 479) | (12, 046) | 24,762 | (18, 525) | 52,908 | 72,963 |
| 8 | Tax expense - Impact of change in the tax rate on opening deferred tax asset(Refer Note 7) | 14,483 | 14,483 | 14.483 | |||
| 9 Profit/ [loss) for the period from continuing operations (7- 8) | (6, 479) | (12, 046) | 10,269 | (18, 525) | 38,425 | 58,480 | |
| 10 Profit/ (loss) before tax from discontinuing operation (Refer Note 3 & 4) | (540) | (789) | 8,714 | ||||
| 11 Tax expense/ (credit) of discontinuing operation (Refer Note 4) | (111) | (198) | 2,212 | ||||
| 12 | Profit/ (loss) for the period from discontinuing operation (10 - 11) (ReferNote 4) | ||||||
| 13 Net Profit/ (loss) for the period (9+12) | [6, 479] | (12,046) | (4299,840 | (590) | 6,502 | ||
| 14 Other comprehensive income (net of income tax) | (372) | 5,529 | (18, 525) | 37,835 | 64,982 | ||
| [liams that will not be reclassified to Statement of Profit and Loss] | (6.638) | 5,157 | 1,199 | (13.328) | |||
| 15 Total comprehensive income for the period $(13 + 14)$ | (6, 851) | (6, 517) | 3,302 | (13, 363) | 39,034 | 51,654 | |
| 16 Paid-up equity share capital (Face value of Rs 10/- each) | 2.949 | 2.949 | 2,849 | 2,949 | 2,949 | 2,949 | |
| 17 Reserve excluding revaluation reserves | 923 990 | ||||||
| 18 Earnings per share (of Rs 10/- each) from continuing operations (weightedaverage) | |||||||
| (a) Basic | (22.0)(220) | (40B) | 34 8 | (628) | 130.3 | 1983 | |
| (b) Diluted19 Earnings per share (of Rs 10/- each) from discontinuing operations (weightedaverage) | (40.8) | 34 8 | (62.8) | 130.3 | 1983 | ||
| (a) Basic | (15) | (20) | 22.0 | ||||
| (b) Diluted | (1.5) | (2.0) | 22.0 | ||||
| 20 Earnings per share (of Rs 10/- each) from total operations (weighted average) | |||||||
| (a) Basic | (220) | (40.8) | 33.3 | (62.8) | 128.3 | 220 4 | |
| (b) Diluted | (220) | (40.8) | 33.3 |
HASKINS & O CHARTEREDACCOUNTANTS 5 핃 ENGALUR
↳
ø Contract
P.B. No.3000 ÚК
Bosch LimitedRegistered office : Hosur Road, Adugodi, Bengaluru- 560 030Website: www.bosch.in, e-mail ID. [email protected], Tel: +91 80 67521750CIN: L85110KA1951PLC000761
| A Assets1. Non-current assetsProperty, plant and equipmentRight of use assetsCapital work-in progressInvestment propertiesInvestments in subsidiary and associateFinancial assets(i) Investments(ii) LoansIncome tax assetsDeferred lax assetsOther non-current assetsTotal non-current assets2. Current assetsInventoriesFinancial assets(i) Investments(ii) Trade receivable(iii) Cash and cash equivalents(iv) Bank balances other than (iii) above(v) Loans(vi) Other lingnoial assetsOther current assetsTotal current assetsTotal assets (1+2)Equity and Liabilities1. EquityEquity share capitalOther equity(I) Reserves and surplus(ii) Other reservesTotal equity2. LiabilitiesNon-current liabilitiesFinancial liabilities(i) Financial lease liabilities(ii) Other financial liabilitiesProvisionsTotal non-current liabilities | As at30.09.2020(Unaudited)90.83021.05652.83713,9802.081394.9345.87111,27858,1774,508655,55287.53748,606139,62214,276158,75655,091 | (Rs. In Lakhs)As at31 03 2020(Audited)97.29122,25048,70214,6602.080372.38810,9609,08945,6656,997630.082111.59329,684141,30525,524200 076 |
|---|---|---|
| 60.916 | ||
| 100.426 | 90 767 | |
| 48,258 | 42,057 | |
| 652,672 | 701.922 | |
| 1,308,124 | 1,332,004 | |
| 2,949 | ||
| 2,949 | ||
| 808,143 | 857,635 | |
| 71,515 | ||
| 882,607 | 66,358926,942 | |
| 4 2 2 0 | 5.206 | |
| 264 | ||
| 274 | ||
| 31,52036,004 | 32,68438,164 | |
| Current liabilities | ||
| Financial liabilities | ||
| (i) Trade payables | ||
| total outstanding dues to micro enterprises and small enterprises | 5,505 | |
| total outstanding dues of creditors other than micro enterprises and small enterprises | 149,495 | 5,164 |
| (ii) Financial lease liabilities | 2,091 | 155.335 |
| (iii) Other financial liabilities | 72,573 | 2,176 |
| Provisions | 124,824 | 47,618 |
| Other current liabilities | 129,114 | |
| 27,491 | ||
| Total current liabilities | 35,025 | 366,898 |
| Total liabilities | 389,613 | |
| Total equity and Itabilities (1+2) | 425,5171,308,124 | 405,0621,332,004 |
$\downarrow$
f
P.B. No.3000 Adugodi
Bosch LimitedRegistered office: Hosur Road, Adugodi, Bengaluru- 560 030Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 80 67521750CIN: L85110KA1951PLC000761
| (Listing Obligations and Disclosure Requirements) Regulations 2015 | (Rs. In Lakhs) | |||||
|---|---|---|---|---|---|---|
| Particulars | Currentthree monthsended | Precedingthrea monthsended | Correspondingthree monthsended | Year to datefigures for thecurrent penodended | Year to datefigures for theprevious pariodended | Year ended |
| September 30.2020 | June 302020 | September 302019 | September30 2020 | September 302019 | March 31, 2020 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
| Segment Revenue - Continuing operations | ||||||
| - Automotive products | 212841 | 81.257 | 195.425 | 294 098 | 431.380 | 833,522 |
| $-$ Others | 35.348 | 18,471 | 36.446 | 53.819 | 76.549 | 153,432 |
| Total segment revenue | 248.189 | 99.728 | 231,871 | 347.917 | 507,929 | 986,954 |
| Less. Inter segment revenue | 271 | 574 | 603 | 845 | 1,117 | 2,791 |
| Net income from operations | 247.918 | 99,154 | 231,268 | 347.072 | 506,812 | 984,163 |
| Segment Results - Continuing operations | ||||||
| - Automotive products | (14.511) | (30.912) | 16 316 | (45.423) | 49.135 | 49 336 |
| $-Ohers$ | 3.331 | 469 | 3.356 | 3.800 | 9.750 | 14,630 |
| Total segment results | (11, 180) | (30, 443) | 19,672 | (41, 623) | 68,885 | 63,966 |
| Less. Finance costs | 132 | 181 | 57 | 313 | 235 | 1.016 |
| Less : Unallocable corporate expenditure | 7,974 | 6.767 | 7.273 | 14.741 | 13,711 | 25,637 |
| Add : Unallocable incomeTotal Profit/ (loss) before tax from continuing | 10.148 | 17.338 | 16 746 | 27.486 | 26.621 | 54.656 |
| operations | (9, 138) | (20, 053) | 29.088 | (29, 181) | 71.560 | 91,959 |
| Segment Assets | ||||||
| - Automotive products | 347.929 | 310,920 | 384.485 | 347.929 | 394.485 | 359.724 |
| - Others - Continuing operations | 57.779 | 66,366 | 72,347 | 57.779 | 72.347 | 55.588 |
| - Others - Discontinuing operations (Refer Note 3) | 14.045 | 14 045 | ||||
| 405,708 | 377.286 | 480,877 | 405 708 | 480,877 | 435,312 | |
| - Unallocable Assets | 902.416 | 920,401 | 805,990 | 902 416 | 805,990 | 896.692 |
| Total Assets | 1.308,124 | 1.297.687 | 1.255,867 | 1,308,124 | 1.286.867 | 1.332.004 |
| Seoment Liabilities | ||||||
| - Automotive products | 336,719 | 290.889 | 269,853 | 336,719 | 269.853 | 319,614 |
| - Others - Confinuing operations | 48,079 | 45,645 | 57.967 | 48.079 | 57.967 | 46,964 |
| - Others - Discontinuing operations (Refer Note 3) | 8.609 | 8.509 | ||||
| 384.798 | 336,534 | 336,429 | 384,793 | 336.429 | 366,578 | |
| Unallocable Liabilities | 40.719 | 40.726 | 36.114 | 40.719 | 36,114 | 38,484 |
| Total Liabilities | 425,517 | 377,260 | 372,543 | 425.617 | 372.543 | 405,082 |
$\overline{\phantom{a}}$
.
| Bosch Limited | |
|---|---|
| -- | ---------------------- |
Bosch LimitedRegistered office : Hosur Road, Adugodi, Bengaluru- 560 030Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 80 67521750CIN: L85110KA1951PLC000761
| Condensed Statement of Cash Flow | (Rs. In Lakhs) | ||
|---|---|---|---|
| For the period | For the period | ||
| 30.09.2020 | 30.09.2019 | ||
| (Unaudited) | (Unaudited) | ||
| А. | Cash flow from operating activities | ||
| Profit/ (loss) before income tax from continuing operations | (29.191) | 71,560 | |
| Profit/ (loss) before income tax from discontinuing operations | (788) | ||
| Operating profit/ (loss) before working capital changes | (50, 780) | 74.791 | |
| Cash from/ (used in) operating activities (A) | (4, 878) | 70,588 | |
| Net cash flow from operating activies (before exceptional items) | 31,826 | 70,588 | |
| 8. | Cash from/ (used in) investing activities | 26,066 | (42, 955) |
| c. | Cash used in financing activities | (32, 436) | (38, 361) |
| Net cash flows during the period (A+B+C) | (11, 248) | (10, 728) | |
| Cash and cash equivalents at the beginning of the period | |||
| Cash and cash equivalents at the end of the period | 25,524 | 20.316 | |
| Net increase/ decrease in cash and cash equivalents | 14,276 | 9.588 | |
| (11, 248) | (10, 728) |
KENASKINS & CO CHARTERED DELO! RENGALUR
P.B. No
$\tilde{\boldsymbol{\xi}}$
b
Notes
- The above standsigne results have been prepared in accordance with Indian Accounting Standards (fird AS) notified under Section 133 of theCompanies Act. 2013, tead together with the Companies (Indian Accounting Standards)
- 2 The above standabore linandal results ware reviewed by the Audit Committee and approved by the Board at thair meeting held on November 6,2020. The standabore results for the quarter ended June 30, 2020. Soptember 30, 20
- g to accordance with the approvals received from the Board of Directors on May 21, 2018 and from the shareholders on August 23, 2019, theCompany has exocated the Bostness Transfer Agreement on October 1, 2019 and transfer above results
4 Results of discontinued operation
| Porticulars | Currentthree monthsbsbne | Precedingthree monthsended | Correspondingthree monthsended | Vear to datefigures for thecurrent periodandad | Vear to dateBoures for theprevious periodended | Year ended |
|---|---|---|---|---|---|---|
| September 30.2020 | Аиле 30, 2020 | September 30.2019 | September 302020 | September 30.2019 | March 31, 2020 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
| Total Income | 4.718 | 7.054 | 16.556 | |||
| Total Expenses | 5.256 | 7.842 | 7.642 | |||
| Profili (loss) before tax fromdiscontinuing operation | (540) | (788) | 8.714 | |||
| Tax expense/ (credil) of discontinuingoperation | (111) | (108) | 2,212 | |||
| Profit/ (loss) for the period fromdiscontinuing operation | (429) | (590) | 6,502 | |||
| Net cash flow from operating activities | (254) | (4.39) | (439) | |||
| Net cash tow from investing activities | 12.727 | |||||
| Net cash flow from financing activities | ||||||
| Net cash generated from discontinuingoperation | (254) | (439) | 12,258 |
§ The Company is undergoing major transformation with regard to structural and cyclical changes in automotive market and emerging opportunities inThe electro mobility and mobility segment, During the quarter and half year
- 6 The spread of COVID -19 pandemic has affected the economic activity across the Globe, including India, Post the lockdown, in line with guidelines prescribed by the Government, the business aperations have gradually resumed with adequate precautions. Financial results of the Company hadan impact of COVID-19 pandemic and country wide lockdown. Based on the assessment challenge in meeting its financial obligations, on long term basis and does not cerry any risk in the recoverability and carrying values of its assetsIncluding property, plant and equipment, trade receivables, inventories impact on its business
- 7 During the previous year ended March 31, 2020, the Company elected to exercise the option permitted under Section 1158AA of the Income-taxAct, 1981 as introduced by the Taxation Laws (Amendment) Ordinance, 2019 under w tax rate change to the Statement of profit and loss for the previous year ended March 31, 2020.
- g Robert Bosch India Manufacturing and Technology Private Limited, a wholly owned subsidiary of Bosch Limited, has been incorporated on May 31,2020 for the purpose of carrying out business of manufacturing, assembly and s energy and building sectors.
- g The Code on Wages, 2019 and Code on Social Security, 2020 ("the Codes") relating to employee compensation and post-employment benefits thatreceived Presidential assent have not been notified. Further, the related rules Company will assess the impact of the Codes when the rules are notified and will record any related impact in the period the Codes becomes
- 10 The Board of Directors at its meeting held on May 22, 2020 had recommended a dividend of Rs 105 per equity share for the financial year endedMarch 31, 2020 which was approved by the shareholders at the Annual General M during the period that resulted in a cash outflow of Rs 30,968 takhs.
- 11 Previous period figures have been regrouped to conform with the classification adopted in these financial results.
Buara D No. 3000 (Soumitra Bhatlachary Managing Director Ougodl, Ba
Place : Bengaluru Date November 06, 2020
Deloitte Haskins & Sells LLP
Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru - 560 001 Karnataka, India
Tel: +91 80 6188 6000 Fax: +91 80 6188 6011
INDEPENDENT AUDITORS' REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS OF BOSCH LIMITED
-
- We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of BOSCH LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net loss after tax and total comprehensive loss of its associate and joint venture for the quarter and six months ended September 30, 2020 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
- This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
-
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
-
- The Statement includes the results of the following entities: Subsidiaries: MICO Trading Private Limited Robert Bosch India Manufacturing and Technology Private Limited Newtech Filter India Private Limited Associate: Joint Venture: Prebo Automotive Private Limited
-
- Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
- The consolidated unaudited financial results includes the financial results of one subsidiary which has not been reviewed by their auditors, whose interim financial information reflects total assets of Rs 1 lakh as at September 30, 2020, total revenue of Rs. Nil for the quarter and six months ended September 30, 2020, total profit/(loss) after tax of Rs. 22 lakhs and Rs. (15) lakhs for the quarter and six months ended September 30, 2020, total comprehensive income/(loss) of Rs. 22 lakhs and Rs. (15) lakhs for the quarter and six months ended September 30, 2020, and net cash flow of Rs. Nil for the six months ended September 30, 2020 as considered in the Statement. The consolidated unaudited financial results includes the Group's share of profit after tax of Rs. 22 lakhs and Rs. 20 lakhs for the quarter and six months ended September 30, 2020 and total comprehensive profit of Rs. 22 lakhs and Rs. 20 Lakhs for the quarter and six months ended September 30, 2020, as considered in the Statement, in respect of one joint venture, based on their interim financial information which has not been reviewed by their auditors. According to
Regd. Office: Indiabulls Finance Centre, Tower 3, 27th - 32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbal - 400 013, Maharashtra, India. (LLP Identification No. AAB-8737)
Deloitte Haskins & Sells LLP
the information and explanations given to us by the Management, these interim financial results are not material to the Group.
Our conclusion on the Statement is not modified in respect of our reliance on the interim financial results certified by the Management.
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants (Firm's Registration No. 117366W/W-100018)
Thanh to and
Monisha Parikh Partner (Membership No. 047840) UDIN: 20047840AAAAEN5022
Bengaluru, November 06, 2020MP/MS/2020
| Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 80 67521750 | Boach LimitedRegistered office : Hosur Road, Adugodi, Bengaluru- 560 030 | ||||||
|---|---|---|---|---|---|---|---|
| CIN: L85110KA1951PLC000761 | |||||||
| PART-1 | Statement of Consolidated Unaudited Results for the quarter and six months ended September 30, 2020 | ||||||
| (Rs. In Lakhs) | |||||||
| Currentthree monthsended | Preceding threemonths ended | Correspondingthree monthsanded | Year to datefigures for thecurrent periodended | Year to datefigures for theprevious periodended | Year ended | ||
| Particulars | September 30.2020 | June 30, 2020 | Sentember 302019 | September 302020 | Saptember 30.2019 | March 31, 2020 | |
| 1 Income | (a) Revenue from operations | (Unaudited)247.918 | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) |
| (b) Other Income | 99.154 | 231,268 | 347.072 | 506,812 | 984.163 | ||
| Total Income (a+b) | 10 148258,066 | 17.338 | 16.746 | 27,486 | 26.621 | 54 656 | |
| 116,492 | 248,014 | 374,558 | 533,433 | 1.038,819 | |||
| 2 Expenses | |||||||
| (a) Cost of materials consumed | 57,803 | 20.671 | 78,357 | 78.474 | 140,911 | 230.468 | |
| (b) Purchases of stock-in-trade | 76,910 | 28,260 | 70.435 | 104,170 | 152,191 | 278,128 | |
| trade | (c) Changes in inventories of finished goods, work-in-progress and stock-in- | 13,444 | 8.255 | (20.666) | 21,700 | (14, 957) | 22,339 |
| (d) Employee benefits expense(e) Finance costs | 30, B33 | 24,268 | 33 490 | 55.101 | 68,730 | 126,853 | |
| 132 | 181 | 57 | 313 | 235 | 1.016 | ||
| (f) Depreciation and amortisation expense(g) Other expenses | 7,960 | 7.283 | 8,273 | 15 24 3 | 15.764 | 38.328 | |
| Total expenses | 41.100 | 27,945 | 35,960 | 69.045 | 77.769 | 178,043 | |
| 227,182 | 116,864 | 205.906 | 344,046 | 440,643 | 876.175 | ||
| 3 Profit/ (loss) before exceptional items and tax (1 - 2) | 30,884 | 1372 | 42,108 | 30.512 | 92.790 | 163,644 | |
| d | Exceptional Items (Refer Note 5) | 40.000 | 19,718 | 13,020 | 59,718 | 21.230 | 71,675 |
| $\overline{\mathbf{s}}$ | Profit/ (loss) before tax (3 - 4) | (9, 116) | (20, 090) | 29,088 | (29, 206) | 71,560 | 91,969 |
| 6 | Tax expense/ (credit) of continuing operationsCurrent tax | ||||||
| (i) for the year | 4.913 | (43) | 9.105 | 4.870 | 22.730 | 35,237 | |
| (ii) relating to earlier year | (2,983) | (590) | (2, 983) | (590) | (1, 994) | ||
| Deferred tax charge/ (credit) | (7.572) | (4, 981) | (4.179) | (12, 553) | (3,488) | (14.237) | |
| Total tax expense/ (credit) | (2,659) | (8,007) | 4,338 | (10, 666) | 18,652 | 19,006 | |
| 7 Profit/ (loss) for the period from continuing operations before impact oftax rate change | (6, 457) | (12, 083) | 24,752 | (18, 540) | 52,908 | 72,963 | |
| Impact of change in the tax rate on opening deferred tax (Refer Note 7) | 14.483 | 14.483 | 14,483 | ||||
| $\Omega$ | Profit/ (loss) for the period from continuing operations (7 - 8) | (6, 457) | (12, 083) | 10,269 | (18, 540) | 38,425 | 58,480 |
| 10 Profit/ (loss) before tax from discontinuing operation (Refer Note 3 & 4) | (540) | (788) | 8714 | ||||
| 11 Tax expense/ (credit) of discontinuing operation (Refer Note 4) | (111) | (195) | 2.212 | ||||
| 12 | Profit/ (loss) for the period from discontinuing operation (10 - 11) (ReferNote 41 | (429) | (590) | 6.502 | |||
| 13 Net Profit/(loss) for the period (9+12) | (6, 457) | (12, 083) | 9,840 | (18, 540) | 37,835 | 64,982 | |
| 14 Share of profit/(loss) of associate and joint venture | 61 | (63) | (2) | ||||
| 15 | Net Profit/(loss) after taxes and share of profit of Associate and Joint$Vonture/13 + 141$ | (6,396) | (12, 145) | 9,841 | (18, 542) | з37,838 | 64,953 |
| 16 Other comprehensive income, (net of income tax)[Items that will not be reclassified to Statement of Profit and Loss] | (372) | 5.529 | (6, 538) | 5.157 | 1,199 | (13, 328) | |
| 17 Total comprehensive income for the period (15 + 16) | (6,768) | (6, 617) | 3,303 | (13, 385) | 39,037 | 51,625 | |
| 18 Paid-up equity share capital (Face value of Rs 10/- each) | 2.949 | 2,949 | 2,949 | 2,949 | 2,949 | 2,949 | |
| 19 Reserve excluding Revaluation Reserves | 908,828 | ||||||
| 20 Earnings per share (of Rs 10/- each) from continuing operations (weightedaverage) | (217) | ||||||
| (a) Basic(b) Diluted | (21.7) | (41.2)(41.2) | 34.834.8 | (62.9)(62.9) | 130.3130.3 | 108.3198.2 | |
| 21 Earnings per share (of Rs 10/- each) from discontinuing operation (weightedsverage) | |||||||
| (a) Basic | (1.5) | (2.0) | 22.0 | ||||
| (b) Oiluted | (1.6) | ۷ | (2,0) | 220 | |||
| 22 Earnings per share (of Rs 10/- each) from continuing operations anddiscontinuing operation (weighted average) | |||||||
| $(a)$ Basic | (21.7) | (41.2) | 33.3 | (82.9) | 12A 3 | 220.3 | |
| (b) Oiluled | (21.7) | (412) | 33.3 | (62.9) | 120.3 | 220.3 |
CHARTERED $\mathcal{L}_{\mathcal{U}}$ ENGALURY
$\overline{\phantom{a}}$
$\checkmark$
COLLINA $\sqrt{\frac{2}{8}}\left(\begin{array}{c} P.B. \text{No.} \ 3000 \end{array}\right)$
Bosch LimitedRegistered office Hosur Road, Adugodi, Bengaluru- 560 030Website. www.bosch.in, e-mail ID: investor@in bosch.com, Tel: +91 80 67521750CIN: L85110KA1951PLC000761
| As at | (Rs. In Lakhs)As at | ||
|---|---|---|---|
| 30 09 20 20(Unaudited) | 31.03.2020(Audited) | ||
| A | Assets | ||
| 1 | Non-current assets | ||
| Property, plant and equipment | 99,830 | 97.291 | |
| Right of use assets | 21.055 | 22.250 | |
| Capital work-in progress | 52,837 | 48.702 | |
| 13,980 | 14 660 | ||
| Investment properties | 1.197 | 1 199 | |
| Investments in subsidiary and associate | |||
| Financial assets | 394 934 | 372,388 | |
| (i) Investments | 10.950 | ||
| (ii) Loans | 5.871 | 9.089 | |
| Income tax assets | 11,278 | ||
| Deferred tax assets | 58,177 | 45,665 | |
| Other non-current assets | 4,508 | 6,997 | |
| 654,666 | 629.201 | ||
| Total non-current assets | |||
| 2. | Current assets | 87,537 | 111,593 |
| Inventories | |||
| Financial assets | 48,606 | 29,684 | |
| (i) Investments | 139,622 | 141,305 | |
| (ii) Trade receivable | 14,277 | 25,524 | |
| (ii) Cash and cash equivalents | 158,766 | 200.066 | |
| (iv) Bank balances other than (ii) above | 60,916 | ||
| (v) Loans | 55,091 | ||
| (vi) Other financial assets | 100,426 | 90,767 | |
| Other current assets | 48,258 | 42,057 | |
| Total current assets | 652,583 | 701,932 | |
| Total assets (1+2) | 1,307,251 | 1,331,133 | |
| R | Equity and Liabilities | ||
| 1. Equity | 2,949 | 2.949 | |
| Equity share capital | |||
| Other equity | |||
| 807,255 | 856.764 | ||
| (i) Reserves and surplus | 66,358 | ||
| (ii) Other reserves | 71,515 | 926,071 | |
| Total equity | 881,719 | ||
| 2. LiabilitiesNon-current liabilities | |||
| Financial liabilities | 4,220 | 5,206 | |
| (i) Financial lease kabilities | 264 | 274 | |
| (ii) Other financial liabilities | 31 520 | 32.684 | |
| Provisions | 36,004 | 38,164 | |
| Total non-current liabilities | |||
| Current liabilities | |||
| Financial liabilities | |||
| (i) Trade payables | 5.505 | 5,164 | |
| fotal outstanding dues to micro enterprises and small enterprises | |||
| lotal outstanding dues of creditors other than micro | 149.495 | 155,335 | |
| enterprises and small enterprises | 2.091 | 2.176 | |
| 72,588 | 47.618 | ||
| (ii) Financial lease liabilities | |||
| (iii) Other financial liabilities | 124.824 | ||
| Provisions | 35,025 | ||
| Other current liabilities | |||
| Total current liabilities | 389,528 | 129,11427,491366,898 | |
| Total liabilities | 425,5321,307,251 | 405,0621,331,133 |
8
Bosch LimitedRegistered office: Hosu: Read, Adapod, Bengaliutu- 560 030Website: www.bosch in, e-mail ID: [email protected], Tel: +91 80 67521750CIN: L85110KA1951PLC000761
| (Listing Obligations and Disclosure Requirements) Regulations 2015 | (Rs. In Lakhs) | |||||
|---|---|---|---|---|---|---|
| Padicutars | Currentthree monthscrided | Preceding threemonths caded | Carrespondingthree monthsended | Year to datefigures for thecurrent periodended | Year to datehoures for thepravious pariodended | Year ended |
| September 30.2020 | June 30, 2020 | September 30,2019 | September 30.2020 | September 30.2019 | March 31, 2020 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audiled) | |
| Segment Revenue | 431.380 | 833,522 | ||||
| - Automotive products | 212.841 | 81 257 | 195 425 | 294,098 | 153,432 | |
| - Others - Continuing operations | 35.348 | 18.471 | 30.446 | 53.819 | 76.549 | 986.954 |
| Total segment revenue | 248, 189 | 99.728 | 231,871 | 347,917 | 507,9291.117 | |
| Less: Injer segment revenue | 271 | 574 | 603 | B45 | 506,812 | 2,791984,163 |
| Net income from operations | 247,918 | 99.154 | 231,268 | 347,072 | ||
| Segment Results | (45, 423) | 49.135 | 49.336 | |||
| - Automolive products | (14.511) | (30.012) | 16,316 | 3,800 | 9.750 | 14,630 |
| - Others - Continuing operations | 3,331 | 469 | 3,356 | (41, 623) | 58,685 | 63,966 |
| Total segment results | (11, 180) | (30.443) | 19,67257 | 313 | 235 | 1,016 |
| Less: Finance costs | 132 | 181 | 7,273 | 14.756 | 13.711 | 25,637 |
| Less "Unallocable corporate expenditure | 7.852 | 6,804 | 16,746 | 27,486 | 26.621 | 54,656 |
| Add Unallocable income | 10,148 | 17,338 | (29, 206) | 71,550 | 91,969 | |
| Total Profit/ (loss) before tax from continuing operations | (9, 115) | (20, 090) | 29,088 | |||
| Segment Assets | 394,485 | 347,929 | 394,485 | 369.724 | ||
| - Automotive products | 347,929 | 310,92066,366 | 72.347 | 57,779 | 72,347 | 65.588 |
| - Others - Continuing operations | 57,779 | 14.045 | 14,045 | |||
| - Aulemotive products - Discontinued Operation (Refer Note 3) | 405,708 | 377,286 | 460,877 | 405,705 | 480,877 | 435.312 |
| 901,543 | 919,467 | BOS 150 | 901,543 | 805.150 | 895,821 | |
| - Unallocable Assets | 1.307,251 | 1,296,753 | 1,286,027 | 1,307,251 | 1,285,027 | 1,331,133 |
| Total Assets | ||||||
| Segment Liabilities | 336.719 | 290,089 | 269,853 | 336.718 | 269.853 | 310,614 |
| - Automotive products | 48,079 | 45,645 | 57,967 | 48,079 | 57,967 | 46.964 |
| - Others - Continuing operations | 8,609 | 8,609 | ||||
| - Automotive products - Discontinued Operation (Refer Note 3) | 384,798 | 335,534 | 336,429 | 364,798 | 336,429 | 366,578 |
| 40,734 | 40,762 | 36,114 | 40.734 | 38,114 | 35.484 | |
| - Unaficcable Luabilies | 425,532 | 377,296 | 372.543 | 425,632 | 372,543 | 405,062 |
| Total Liabilities |
$\frac{1}{2}$ DELOIT P.B. No3000 fotopodi,
EXAMPLE A DELA CHARTERED OF L
| Bosch Limited | |
|---|---|
| Registered office : Hosur Road, Adugodi, Bengaluru- 560 030 | |
| Website: www.bosch.ln, e-mail ID: [email protected], Tel: +91 80 67521750CIN: L85110KA1951PLC000761 | |
| Consolidated Cash Flow Statement | |
| For the period |
| For the period | For the period | ||
|---|---|---|---|
| 30.09.2020 | 30.09.2019 | ||
| (Unaudited) | (Unaudited) | ||
| IA. | Cash flow from operating activities | ||
| Profit before income tax from continuing operations | (29, 208) | 71,563 | |
| Profit before income tax from discontinuing operations | (788) | ||
| Operaling profit before working capital changes | (50, 794) | 74,788 | |
| Cash from/ (used in) operating activities (A) | (4,878) | 70,588 | |
| Net cash flow from operating activies (before exceptional items) | 31,626 | 70,588 | |
| B. | Cash from/ (used in) investing activities | 26,066 | (42, 955) |
| C. | Cash used in financing activities | (32, 435) | (38, 361) |
| Net cash flows during the year (A+B+C) | (11, 247) | (10, 728) | |
| Cash and cash equivalents at the beginning of the period | 25,524 | 20,326 | |
| Cash and cash equivalents at the end of the period | 14,277 | 9,598 | |
| Net increase/ decrease in cash and cash equivalents | (11, 247) | (10, 728) |
EL CHARTERED ₫ P.B. No.3000 $|s_i|$ ġ lough Ba
$\boldsymbol{\rho}^*$
Notes:
- 1 The above consolidated results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under Section 133 of the CompaniesAct, 2013, read logether with the Companies (Indian Accounting Stand
- 2 The above consolidated financial results were reviewed by the Audit Committee and approved by the Board at their meeting held on November 6, 2020. The consolidated results for the quarter ended June 30, 2020 September 30, 2019, half year ended September 30, 2019 and year ended March 31, 2020 have been subject to review / audit by the statutory auditors of the Company.
- 3 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 hastxecuted the Business Transfer Agreement on October 1, 2019 and transfer
- 4 Results of discontinued operation
| Particulars | Currentthree monthsended | Precedingthree monthsended | Correspondingthree monthsended | Year to datefigures for thecurrent periodended | Year to date figuresfor the previousperiod ended | Year ended |
|---|---|---|---|---|---|---|
| September 30,2020 | June 30, 2020 | September 30.2019 | September 302020 | September 30,2019 | March 31, 2020 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
| Total Income | 4,716 | 7.054 | 16,556 | |||
| Total Expenses | 5,256 | 7,842 | 7,842 | |||
| Profit/ (loss) before tax from discontinuingoperation | (640) | (768) | 8,714 | |||
| Tax expensel (credit) of discontinuingoperation | (111) | (198) | 2,212 | |||
| Profit/ (loss) for the period fromdiscontinuing operation | (429) | (590) | 6,502 | |||
| Net cash flow from operating activities | (254) | (439) | (439) | |||
| Net cash flow from Investing activities | 12,727 | |||||
| Net cash flow from financing activities | ||||||
| Net cash generated from discontinuingoperation | (254) | (439) | 12,288 |
5 The Group is undergoing major transformation with regard to structural and cyclical changes in automotive market and emerging opportunities in the electromobility and mobility segment. During the quarter and six months and transformational projects and disclosed as an exceptional item.
- 6 The spread of COVID-19 pandemic has affected the economic activity across the Globe, including India. Post the lockdown, in line with guidelines prescribedby the Government, the business operations have gradually resume by the coverance in the business operations have gradually resumed will degrade precalunds, rimandarisation of the and anticipate any major challenge in meeting its financial obligations, challenge in country wide lockdown
- 7 During the previous year ended March 31, 2020, the Group elected to exercise the option permitted under Section 115BAA of the Income-tax Act, 1961 asIntroduced by the Taxation Laws (Amendment) Ordinance, 2019 under whic profit and loss for the previous year ended March 31, 2020.
- 8 Robert Bosch India Manufacturing and Technology Private Limiled, a wholly owned subsidiary of Bosch Limited, has been incorporated on May 31, 2020 forthe purpose of carrying out business of manufacturing, assembly and s
- 9 The Code on Wages, 2019 and Code on Social Security, 2020 ('the Codes') relating to employee compensation and post-employment benefits that received Presidential assent have not been notified. Further, the related rules for quantifying the financial impact have not been notified. The Group will assess the impact of the Codes when the rules are notified and will record any related impact in the period the Codes becomes effective.
- 10 The Board of Directors at its meeting held on May 22, 2020 had recommended a dividend of Rs 105 per equity share for the financial year ended March 31,2020 which was approved by the shareholders at the Annual General M
- 11 Previous period figures have been regrouped to conform with the classification adopted in these financial results.
000 (Soumitra Bhatlacharya) Managing Directo Qugodi.
Bosch Limited Post Box No:3000 Hosur Road, Adugodi Bangalore -560030 Karnataka, India Tel +91 80 6752 1750 www.bosch.in L85110KA1951PLC000761
Annexure 'B'
Details as required to be disclosed under aforesaid Regulation 30 read with clause 1 of Para A of Annexure I SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015
| S.No. | -Particulars | Details |
|---|---|---|
| 1 | oftargetentity,thedetailsinNamebriefsuchturnoversize,etc.as | Systems('Nivaata'),NivaataPrivateLimitedacompanyhavingregisteredofficeitsinBengaluru. |
| SystemsTheTurnoverNivaataPrivateofyearfinancial2019-20LimitedfortheRs.is452,043,241/-. | ||
| 2 | acquisitionWhetherthewouldfalltransaction(s)withinrelatedpartyandpromoter/whetherpromoterthe | Acquisitionpartydoesnotwithinrelatedfalltransaction. |
| group!groupcompaniesanyhaveinterestentitythebeingacquired?inofinterestIfyes,naturedetailsandthereofwhethertheandsamedoneis"armslength"at | //PromoterPromoterGroupGroupTheCompaniesdoesnothaveanyinterestinSystemsNivaataPrivateLimited. | |
| 3 | Industrytowhichtheentitybeingacquiredbelongs | developingNivaatabusinesstheandisinofsellingmobilitysolutions. |
| 4 | acquisitionObjectsandeffectsof(includingbutnotlimitedto,disclosureacquisitionofforreasonsoftargetentity,ifitsbusinessisoutsideofofthemainlinebusinesslistedentity)the | expandparticipatingbyTobusinesstheincyclevehiclevaluechainthroughvariouslifeMobilitysolutionsbusiness.in |
| 5 | Briefofgovernmentaldetailsanyorregulatoryapprovalsrequiredfortheacquisition | required.Not |
| 6 | periodforcompletionIndicativetimeacquisitionofthe | acquisitioncompletedThebyshallbe31SDecember,2020 |
| 7 | of-whetherconsiderationNatureconsiderationcashswaporsharedetailsofandthesame | Cashconsideration.equityHowever,shares1298of Rs.each10apremium13,091.98aggregatingof Rs.toana |
| amountexceedingnotMillion17Rs. |
Registered Office: Bosch Limited, Hosur Road, Bangalore -560030, Karnataka, India Managing Director: Soumitra Bhattacharya, Joint Managing Director: Jan -Oliver Rohrl
| 89 | acquisitionpriceoftheCostoratacquiredwhichthearesharesPercentageshareholding/ofcontrol | representingequitycapitalof theshare0.82%fullydilutedbasisshallallottedonbeinprovidedconsiderationservicesbytheforcloudCompanyNivaata.to3,893CompulsoryConvertiblePreference1.(CCPS)eachat apremiumSharesofRs.1013,091.98aggregatingoftoRs.51Rs.million6,105CompulsoryConvertiblePreference2.(CCPS)premiumShareseachat aofRs.10aggregating13,091.98ofto80Rs.Rs.millionEquityeach1298Sharesofat aRs.103.aggregatingpremium13,091.98of Rs.toRs.millionallottedconsiderationfor17tobeinprovidedCompanycloudservicesbythetoivaata.NCapitalCompany7.14%oftheUptoof theonfullydilutedbasis. |
|---|---|---|
| acquired/andnumberofsharesoraciredqu | a | |
| 10 | Briefbackgroundentityabouttheacquiredtermsproducts/lineofofinbusinessacquired,ofdateincorporation,historyofyearslast3turnover,countrywhichacquiredtheinpresenceentityanyotherhasandsignificantinformation(inbrief); | SystemsLimited,havingNivaataPrivateitsisregisteredBengaluru.officeNivaatacarriesinbrandbusinessunderoninIndiaitstrade!'Routematic'.namebusinessincludesofferingEmployeemainItstransportationplatformthatcaterstothetransportationplannedemployeesoffromversa.homeofficeandvicedoesbothtoltsupplyaggregation.demandsideandincorporationThedateofofNivaataisNovember23,2007.CompanyturnoverforthelastTheofthe3yearsgivenbelow:isyeartheendedTurnover(Rs.)For45,20,43,24131, 2020March26,83,13,213March31,201931, 201816,25,50,526March |
Annexure -C
Appointment of Dr. Stefan Hartung
| Sr. | thatDetailsofEventsneed | events(s)ofInformationsuch |
|---|---|---|
| No. | providedtobe | |
| 1. | changeforReasonviz. | Meeting2020,November06,theBoardAttheBoardheldon |
| appointment,rc3ignation, | appointmentHartungapprovedofStefanofDirectorstheDr. | |
| removal,dcathor othcrwico | (Non-Executive,-IndependentDirector)AdditionalNonasan | |
| Director | ||
| 2. | appointmentofDate | January01,2021 |
| applicable)(as&/cessation | ||
| of appointment;term | ||
| 3. | profileBrief(incaseof | profileHartunggivenbriefof Dr.StefanbelowTheis |
| appointment); | ||
| 4. | of relationshipsDisclosure | StefanHartungnotrelatedtoanydirectoroftheDr.is |
| betweendirectors(incase | of Company. | |
| director);appointmentofa |
Curriculum vitae
Dr. Stefan Hartung Member of the Board of Management, Robert Bosch GmbH
Dr. Stefan Hartung has been a member of the board of management of Robert Bosch GmbH since January 2013. Since January 2019, he has been chairman of the Mobility Solutions business sector, and responsible for the Powertrain Solutions and Electrical Drives divisions. Prior to this, he was responsible for the Energy and Building Technology as well as the Industrial Technology business sectors, in addition to the Bosch Connected Industry business unit.
Born in Dortmund in 1966, Stefan Hartung is married and has two children. He studied mechanical engineering, specializing in manufacturing technology, at RWTH Aachen, where he also submitted his PhD on quality management methods in 1993.
He joined Bosch und Siemens Hausgeräte GmbH in Munich in 2004. Before that, he worked for the Fraunhofer Society and the management consultants McKinsey & Company in Düsseldorf.
Career stages in the Bosch Group
| 2004 | presidentof productmarketingSeniorviceandheadfordishwashers,HausgeräteBoschSiemensundGmbH |
|---|---|
| 2008 | presidentExecutivevicewithresponsibilityformanufacturing,supplychain,andAsia,PowerToolsdivision |
| 2009 | President,PowerToolsdivision |
| January2013 | Memberofof management,theboardRobertBoschGmbH |
| January2019 | MobilityChairmanof thesector,SolutionsbusinessRobertBoschGmbH |
January 1, 2019 RB joe/af
Annexure -D
Appointment of Mr. Sandeep Nelamangala
| Sr. | thatofEventsneedDetails | events(s)ofInformationsuch |
|---|---|---|
| No. | providedtobe | |
| 1. | changeReasonforviz. | MeetingNovember06,2020,theBoardtheBoardheldonAt |
| appointment,rc3ignation, | appointmentSandeepapprovedofofDirectorstheMr. | |
| removal,dcathor othorwioo | Nelamangala,HartungAlternateDirectorStefanastoanDr. | |
| designatedw.e.fJanuaryWholetimeDirector01,2021asa | ||
| 2. | appointmentofDate | Appointedperiod(two)Whole-timeDirectorforof 02asaa |
| /ccssptionapplicablc)(p3& | Januaryyearsfrom01,December31,20222021to | |
| termof appointment; | ||
| 3. | profileBrief(incaseof | profileSandeepNelamangalagivenThebriefof Mr.is |
| appointment); | below | |
| 4. | of relationshipsDisclosure | SandeepNelamangalaanytodirectorofnotrelatedMr.is |
| betweendirectors(incase | Company.of the | |
| director);appointmentofa |
Brief Profile of Mr. Sandeep Nelamangala
Sandeep N is Executive Vice President, OE Sales India (IN/EO) India, from May 01, 2018 onwards.
Sandeep N was born in 1971 in Bangalore, India. He is married and has a son. After completion of under graduation in 1988, he studied mechanical engineering at the University of Mysore. He has a keen interest in sketching, traveling and reading (with specific interest in world history and Indology).
Career Stages in Bosch group:
| 1992 | ¯ TechnicalTrainee,Limited,GraduateBoschIndia |
|---|---|
| -19971994 | ¯ RegionalEnginesSalesaccountforCumminsCompany,USAOE |
| -19991997 | ¯ ResidentEngineerBosch,Systems(Stuttgart,Germany)Dieselin |
| -20001999 | ¯ BoschengineerresidentCumminsEnginesCompany,USAin |
| -20072001 | ¯ Regional(TataMotors,Mahindra)SalesaccountforDieselSystems |
| 2007 | -Passenger¯ KeyresponsibilityaccountSystemssalesforBoschDieselCarIndia |
| 2008 | ¯ AdditionalresponsibilitykeyaccountGasolineSystems,forIndia |
| 2011 | ¯ RegionalPresidentGasolineSystemsforIndia |
| 2015 | ¯ AdditionalresponsibilityforwheelerpowersportsandbusinessIndiain2 |
| -20182016 | ¯ SeniorInjection,SystemsDivision,GermanyPresidentBusinessGasolineViceUnitFuel |
| July2018onwards | -Mobility¯ ExecutiveSales)PresidentSolutions(OEVice |
Press release
Annexure - E
Quarter 02.2020-2021 financial results Bosch Limited registers 12.4 percent profit before tax (before EI) in Q2 FY 2020-21
- Total revenue from operations increased by 7.2 percent in Q2 of FY 2020-21 over the same period of previous year.
- Loss after Tax stood at 2.6 percent of total revenue from operations.
- Bosch sales affected by a combination of slowdown in automotive industry and the impact of pandemic.
Bengaluru – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 2,479 crores in Q2 of FY 2020-21, registering an increase of 7.2 percent over the same period of previous year. The Profit before Tax (PBT) before exceptional item stood at INR 309 crores which is a decline of 26.8 percent over the same period of previous year mainly due to reduction in other income and higher material cost.
The Indian automotive market continues to undergo structural changes. In order to be fit for future, Bosch Limited has continued investment in its 3R strategy of restructuring, reskilling and other transformational projects. To support this, an additional amount of INR 400 crores has been provided and disclosed as an exceptional item for the quarter ended September 30, 2020.
After allowing for the exceptional item, loss before tax stood at INR 91 crores and Loss after Tax at INR 65 crores. PAT before exceptional items stood at 9.5 percent of total revenue from operations.
For the half-year that ended on September 30, 2020, Bosch Limited posted a total revenue from operations of INR 3,471 crores, a decline of 31.5 percent over the same period of previous year. PBT before exceptional item stood at INR 305 crores, a decline of 67.1 percent over the same period of previous year and after
Bosch Limited Hosur Road, Adugodi Bangalore - 560030
Mr. Uday Philip Phone: +91 9972975291 [email protected] Corporate Communications/India Head –Shashikant Ameet Rele www.boschindia.com
November 6, 2020 Corp/C/CCR-IN CIN: L85110KA1951PLC000761 allowing exceptional item, loss before tax stood at INR 292 crores. Loss after Tax stood at 185 crores.
"The auto industry is going through a prolonged slump. However, there has been a sequential recovery month over month in segments mainly led by two-wheelers and tractors. We will witness a faster growth if we have government's support on GST reduction and scrappage policy," said Soumitra Bhattacharya, the managing director of Bosch Limited and president of the Bosch India Group.
Snapshot of business divisions' performance in Quarter 2
The sales of the Powertrain Solutions business division saw a rise in Quarter 2 of FY 2020-21 thus helping Bosch Limited's Mobility Solutions turnover increase by 7.5 percent. The Two-Wheeler and Powersports business continued to witness double-digit growth during the quarter. The company's business in beyond mobility segment posted a decline of 4.6 percent. The reduction is on account of decline in business with solar energy and security technologies which are mainly project driven.
"We have been continuously investing in the transformation of Bosch Limited to make the company fit for future. We are closely listening to our employees, customers and other stakeholders to operate efficiently in these times of New Normal. Even in these turbulent times we are cautiously optimistic of heading towards a break-even for this financial year", added Mr. Bhattacharya.
For the first half business year ended September 30, 2020, total turnover has declined by 34.2 percent. Sales of Mobility Solutions sector decreased by 34.5 percent whereas business beyond mobility solutions sector witnessed a reduction of 32.9 percent. The combination of the slowdown in the automotive industry and the impact of pandemic has affected Bosch Limited's sales, like the rest of the industry.
Bosch extends further in mobility solutions
With a focus on making mobility more efficient, safer and convenient, Bosch Limited invests in a start-up – Routematic (Nivaata Systems Private Limited), a venture funded enterprise based out of Bengaluru, creating urban mobility innovations. Through this investment Bosch Limited expands its offerings from being an automotive systems and component manufacturer to a technology enabler in the mobility life cycle through its digital platforms.
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About Bosch in India
In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in India the largest development center outside Germany, for end to end engineering and technology solutions. The Bosch Group operates in India through fourteen companies: Bosch Limited – the flagship company of the Bosch Group in India – Bosch Chassis Systems India Private Limited, Bosch Rexroth (India) Private Limited, Robert Bosch Engineering and Business Solutions 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. In India, Bosch set-up its manufacturing operations in 1951, which has grown over the years to include 16 manufacturing sites, and seven development and application centers. . The Bosch Group in India employs over 31,500 associates and generated consolidated sales of about ₨.19,996 crores* (2.54 billion euros) in fiscal year 2020 of which ₨. 14,011 crores*(1.78 billion euros) are from consolidated sales to third parties. The Bosch Group in India has close to 15,650 research and development associates.
Additional information can be accessed at www.bosch.in
The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,000 associates worldwide (as of December 31, 2019). The company generated sales of 77.7 billion euros in 2019. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group's strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life." The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company's future growth is its innovative strength. Bosch employs some 72,600 associates in research and development at 126 locations across the globe, as well as roughly 30,000 software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.boschpress.com, www.twitter.com/BoschPresse.