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Bosch Ltd Interim / Quarterly Report 2021

Nov 9, 2021

61019_rns_2021-11-09_b5cbb8cb-b25f-4425-8f1f-3f29f058f39f.pdf

Interim / Quarterly Report

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Bosch Limited Post Box No:3000 Hosur Road, Adugodi Bangalore-560030 Karnataka, India Tel +91 80 67522393 www.bosch.in L85110KA1951PLC000761

09.11.2021

Corporate Relationship Department BSE Limited 1st 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, C-i, Block G Bandra-Kurla Complex Bandra (E) Mumbai -400 051 Scrip code: BOSCH LTD

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 -Outcome of Board Meeting

This is to inform you that the Board of Directors of Bosch Limited (the "Company") at their meeting held at Feuerbach, Germany today i.e. November 09, 2021 has, inter-alia, approved the following:

  • Unaudited Standalone & Consolidated financial results for the quarter ended September 30, 2021. The copy of financial results and Limited Review Report along with the Press Release are enclosed as 'Annexure A'; and
  • Investment in Autozilla Solutions Private Limited upto 26% of its Paid -up capital. Further details are enclosed as 'Annexure B' pursuant to the SEBI Circular No. ClR/CFD/CMD/4/2015 dated September 09, 2015.

The meeting commenced at 2115 hrs and concluded at 2325 hrs.

Thanking you,

Yours Sincerely, for Bosch Limited,

Divya Ajith Assistant Company Secretary & Compliance Officer

End: A/a

Deloitte Haskins & Sells LLP

Chartered Accounlants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru - 560 001 Karnataka, India

Tel: +91 80 6188 6000 Fax· +91 806188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BOSCH LIMITED

    1. 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, 2021 ("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.
    1. This Statement, which 1s 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 accept ed in India. Our responsibility is to express a conclusion on the Statement based on our review.
    1. 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 (!CAI). 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.
    1. 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)

~h.· 4--v(_

Monisha Parikh Partner (Membership No. 047840) UDIN: ~\04, 1--'d'40A-AA-Acf<619(

Ahmedabad, November 9, 2021 MP/MS/2021

Rcgd Office One lmcmat,onal Centre. To\Cr 3, 32" Floor, Scnapah Bapat Marg.. Elplunstonc Road (Wcsl). Mumbai• 400 013. Maharn, hlrJ. lndl3 (I I I' ldcn111ica11on No 1\AB-8737)

Deloitte Haskins & Sells LLP

Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru - 560 001 Karnataka, I ndia

Tel : +91 80 6 188 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BOSCH LIMITED

    1. 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 profit alter tax and total comprehensive income of its associate and joint venture for the quarter and six months ended September 30, 2021 ("the Statement") being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
    1. 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.
    1. 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.
    1. The Statement includes the results of the following entities:
  • a) Bosch Limited, Parent;
  • b) MICO Trading Private Limited, Wholly Owned Subsidiary;
  • c) Robert Bosch India Manufacturing and Technology Private Limited, Wholly Owned Subsidiary;
  • d) Newtech Filter India Private Limited, Associate; and
  • e) Prebo Automotive Private Limited, Joint Venture;
    1. 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. V

Rcgd Onice One l111cma11011al Centre, Tower 3. 32"' Floor. Scnapati llapat Marg. Elplunstone Road (Wcs1), Mumbai - ~00 O 13. Maharash1ra. India (LLP ldcnlofica1ion No AAB-8737)

rDeloitte Haskins & Sells LLP

  1. The consolidated unaudited financial results includes the financial results of one subs1d1ary which has not been reviewed by their auditors, whose interim financial information reflects total assets of Rs. 65 lakhs as at September 30, 2021, total revenue of Rs. Nil for the quarter and six months ended September 30, 2021, total loss after tax of Rs. 2 lakhs for the quarter and six months ended September 30, 2021, total comprehensive loss of Rs. 2 lakhs for the quarter and six months ended September 30, 2021, and net cash flow of Rs. 32 lakhs for the six months ended September 30, 2021 as considered tn the Statement. The consolidated unaudited financial results includes the Group's share of profit after tax of Rs. 12 lakhs and Rs. 35 lakhs for the quarter and six months ended September 30, 2021 respectively and total comprehensive profit of Rs. 12 lakhs and Rs. 35 Lakhs for the quarter and six months ended September 30, 2021 respectively, 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.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/ W-100018)

Monisha Parikh Partner (Membership No. 047840) UDIN: !< 104W40A-AAA££5lOt

Ahmedabad, November 9, 2021 MP/ MS/ 2021

Registered office Hosur Road, Adugodi, Bengaluru- 560 030 Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 8067521750

CIN: L85110KA1951PLC000761

Statement
of
Standalone
Unaudited		 Financial Results
for		 the
quarter
six
and		 months
ended		 September
30, 2021
Part
cuI
ars		 Current
three
months
ended
September
30,
2021		 Preceding
three
months
ended
June
30,
2021		 Corresponding
three
months
ended
September
30, 2020		 Year
to
date
figures
for
the
current
period
ended
September
30, 2021		 Year
to
date
figures
for
the
previous
period
ended
September
30, 2020		 lR. In
Lekhnl
Year
ended
March
31, 2021
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Income
(a)
operations
Revenue
from		 291,797 244,353 247,918 536.150 347,072 971,803
(b)Other
Income		 12,436 9,897 10,148 22333 27,486 50397
(a+b)
Total Income		 304,233 254,250 258,066 558,483 374,558 1,022,200
2 Expenses
(a)
Cost
of
materials
consumed		 64,580 66,016 57,803 130,596 78,474 233,551
of stock-in-trade
(b)
Purchases		 105,474 119,167 75,910 224,641 104,170 358.939
(c)
Changes
goods, work-in-progress
inventories
of finished
and
stock-in
in		 13,143 141,357) 13,444 (28,214) 21,700 (15,229)
(d)
Employee
expense
(Refer
NoteS)
benefits
(e)		 25,283 27,056 30,833 52,339 55,101 93.161
Finance
costs
Depreciation
expense
and
amortisation
(1)		 152
8,287		 320
6,710		 132
7,960		 472
14,997		 313
15.243		 1402
34,144
(g)
Other
expenses		 47,565 42,807 41,122 90,372 69,030 185,135
Total expenses 264,484 220,719 227,204 485,203 344,031 891,103
3 -2)
exceptional items
Profit
before
tax
and
(1		 39,749 33,531 30,862 73,280 30,527 131,097
4 (Refer
Exceptional Items
Note
3)		 - - 40,000 - 59,718 74,385
5 (loss)
Profit!
before
tax
(3
4)		 39,749 33,531 (9,138) 73,280 (29,191) 56,712
6 Tax
expense/ (credit)
Current tax
(I)
for
the
period! year		 9.100 7,739 4,913 16,839 4,870 19,281
relating
years
(ii)
to
earlier		 (7,646) - - (7,646) (2,983) (2.983)
Deferred
charge/ (credit)
tax		 1,100 (184) (7.572) 916 (12,553) (7.836)
Total tax
expense! (Credit)		 2,554 7,555 (2,659) 10,109 (10.666) 8,462
7 (5-6)
period! year
Net
Profit!
(loss) for
the		 37,195 25,976 (6,479) 63,171 (18,525) 48,250
8 comprehensive
income
Other
Items
that will not be
reclassified
to Statement of Profit and
Loss
(mainly
consists
of changes
fair value
of equity
in
instruments)		 11,560 382 (364) 11,942 5,191 41,860
relating
Income
tax
to
above		 (1,322) (59) (8) (1,381) (34) (3,873)
comprehensive
Other
(Net
tax)
income
of		 10,238 323 (372) 10,561 5,157 37,987
9 Total comprehensive
for the
periodl year
Income
(7
8)
+		 47,433 26,299 (6.851) 73,732 (13,368) 86,237
10 equity
Paid-up
share
capital (Face
value
of Rs
each)
10/-		 2,949 2,949 2,949 2,949 2,949 2,949
11 excluding
Reserve
revaluation
reserves		 979,265
12 Earnings
per
(of Rs
each)
(weighted
average)
share
10/-
(a)
Basic
(b)
Diluted		 126.1
126.1		 88.1
88.1		 (22.0)
(22.0)		 214.2
214.2		 (62.8)
(62.8)		 163.6
163.6

Registered office : Hosur Road, Adugodi, Bengaluru- 560 030 Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 8067521750 CIN: L85110KA1951PLC000761

IRs. In
Lakhsl
Current Preceding
three		 Corresponding Year
to
date		 to
Year
date		 Year
ended
months
three		 months
ended		 three
months		 figures
for
the		 figures
for
the
Particulars ended ended current period previous
period
ended ended
September
30,		 June
30,		 September
30,		 September 30, September 30, March
31, 2021
2021
(Unaudited)		 2021
(Unaudited)		 2020
(Unaudited)		 2021 2020
Segment Revenue (Unaudited) (Unaudited) (Audited)
-Automotive
products		 243,642 214835 212,841 458,477 294,098
-Consumer
(Refer
Goods
note
8)		 35,374 20,953 25,555 837,982
-Others 14,465 8,687 9,793 56,327
23,152		 34,969 94,993
Total segment revenue 293,481 244,475 248,189 537,956 18,850
347,917		 40,431
973,406
segment revenue
Less:
Inter		 1684 122 271 1,806 845 1,603
operations
Net income
from		 291,797 244,353 247,918 536,150 347,072 971,803
Segment Results
-Automotive
products		 28,771 27,343 (14,511) 56,114 (45,423) 20,610
-Consumer
Goods
(Refer
note
8)		 4,626 (348) 1,729 4,278 1,195 11,022
-Others 3,736 4,538 1,602 8,274 2,605 11,182
Total segment results 37,133 31,533 (11.180) 68,666 (41,623) 42,814
costs
Less: Finance		 152 320 132 472 313 1,402
Less: Unallocable
corporate
expenditure		 6,920 6,962 7,974 15,882 14,741 33,182
Add: Unallocable
income		 11,688 9,280 10,148 20,968 27,486 48,482
Total Profit] (loss)
before
tax		 39,749 33,531 (9,138) 73,280 (29.191) 56,712
Segment Assets
-Automotive
products		 393,058 398,254 347,929 393,058 347,929 376,992
-Consumer
Goods
(Refer
note
8)		 36,409 37,976 24,655 36,409 24,655 35,361
-Others 35,670 29,758 33,124 35,670 33,124 28,836
465,137 465,988 405,708 465,137 405,708 441,189
- Unallocable
Assets		 1,007,465 992,626 902,416 1,007,465 902,416 1,036,160
Total Assets 1,472,602 1,458,614 1,308,124 1,472,602 1,308,124 1,477,349
Segment Liabilities
-Automotive
products		 380,409 351,452 336,719 380,409 336,719 400,285
-Consumer
(Refer
Goods
note
8)		 30,165 34,655 23,759 30,165 23,759 32,754
-Others 16,402 21,968 24,320 16,402 24,320 20,754
426,976 408,075 384,798 426,976 384,798 453,793
-Unallocable
Liabilities		 23,598 42,026 40,719 23,598 40,719 41,342
Total Liabilities 450,574 450,101 425,517 450,574 425,517 495,135

Segment wise Revenue, Results, Assets and Liabilities under Regulation 33 of the SEBI

Registered office : Hosur Road, Adugodi, Bengaluru- 560 030 Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 8067521750 CIN: L85110KA1951PLC000761

Statement
of
Assets
and
under
Regulation
of the
SEBI (Listing
Obligations
Liabilities
33
and
Disclosure		 Requirements) Regulations
2015
Lkhs)
(Rs. In
Asat Asat
September
30, 2021		 March
31, 2021
A Assets (Unaudited) (Audited)
1. Non-current assets
Property, plant and
equipment		 99,201 90,871
Right of use
assets
progress
Capital work-in		 21,889
35,718		 20,015
48.778
Investment properties 12,364 13,177
subsidiary
Investments
in
and
associate		 2,401 2,177
Financial assets
(i)
Investments		 373,750 340,768
(ii)
Loans		 2,708 2,637
(iii)
Other
financial assets
Income
tax
assets
(net)		 2,935
20,784		 2,987
18,784
Deferred
tax
assets
(net)		 48,287 50,587
Other
non-current assets		 9,168 10,344
Total non-current assets 629,205 601,125
2. Current assets
Inventories 168,889 129,848
Financial assets
Investments
(i)
(ii)
Trade
receivable		 105,829
133,672		 172,762
138,938
(iii)
Cash
cash
equivalents
and		 28,368 28,890
(iv)
Bank
balances
other
than
(iii) above		 185,396 216,163
(v)
Loans		 70,465 52,554
Other
flnancial assets
(Vi)		 98,106 93,630
Other
current assets		 52,672 43,439
Total current assets 843,397 876,224
Total assets
(1+2)		 1.472,602 1,477,349
B Equity
Liabilities
and
1. Equity
Equity
capital
share
Other
equity		 2,949 2,949
(i)
Reserves
and
surplus		 907,014 877,761
(ii)
Other
reserves		 112,065 101,504
Total equity 1,022,028 982,214
2. LiabilitIes
Non-current liabilities
Financial liabilities
liabilities
(i)
Financial lease		 5,203 3,396
(ii)
Other
financial liabilities
Provisions		 13,839 18,733
Total non-current liabilities 25,674
44,716		 23,820
45,949
Current liabilities
Financial liabilities
Trade
payables
(I)
total outstanding
enterprises
dues
to
micro
and
small enterprises
total outstanding
of creditors		 18,601 11,405
dues
other
than
micro
enterprises
small enterprises
and
(ii)
Financial lease
liabilities		 197,522
2,347		 210.890
(iii)
Other
financial liabilities		 34,365 1,980
73,994
Provisions 112,001 107,310
Other
current liabilities		 41,022 43,607
Total current liabilities 405,858 449.186
Total liabilities 450,574 495,135
Total equity
and
liabilities
(1+2)		 1,472,602 1,477,349

Bosch
Limited
Registered
office:
Adugodi,
Bengaluru-
Hosur
Road,
560
030
www.bosch.in,
Website:
e-mail ID:
67521750
[email protected],
Tel:
80
+91
CIN:
L85110KA1951PLC000761
of
Condensed
Statement
Cash
Flow		 Lakhs)
(Rs.
In
For
the
period		 the
period
For
September
30,
2021		 September
30,
2020
(Unaudited) (Unaudited)
A. operating
flow
from
activities
Cash
Profit] (loss)
before
income
tax		 73,280 (29,191)
Operating
profit!
(loss)
before
working
capital changes		 66,672 (50,780)
activities
cash
used
operating
Net
in
(A)		 (21,269) (4,878)
cash
from!
operating
Net
(used
activies
(before
exceptional items)
in)		 (21,269) 31,826
B. investing
flow
activities
Cash
from		 56326 26,066
C. financing
flow
from
activities
Cash		 (35,579) (32,436)
flows
(A+B+C)
Net
cash
during
the
period		 (522) (11,248)
Cash
and
equivalents
at the
beginning
of the
cash
period		 28,890 25,524
equivalents
at the
of the
Cash
and
cash
end
period		 28,368 14,276
Net
decrease
equivalents
cash
and
cash
in		 (522) (11,248)

Bosch Limited Registered office: Hosur Road, Adugodi, Bengaluru'. 560 030 Website: www.bosch,in, e-mail ID: [email protected], Tel: +91 8067521750 CIN: L85110KA1951PLC000761

Notes

  • I The above standalone financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notilied under Section 133 of the Companies Act, 2013. read together with the Companies (Indian Accounting Standards) Rules, 2015 (as amended).
  • 2 The above standalone financial results were reviewed by the Audit Committee and approved by the Board at their meeting held on November 09. 2021. The limited review, as required under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been completed by the Statutory Auditors for the quarter and six months ended September 30. 2021 and they have issued an unmodified report on the aforesaid results.
  • 3 The Company is undergoing major transformation with regard to structural and cyclical changes in automotive market and emerging opportunities in the electro mobility and mobility segmenL An amount of Rs.74,385 lakhs for the year ended March 31, 2021, Rs. 59,718 lakhs for the six months ended September 30, 2020 and Rs. 40,000 lakhs for the quarter ended September 30, 2020 was expensed in the standalone financial results towards various restructuring and transformational costs and disclosed as an exceptional item.
  • 4 The Company has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these standalone financial results including the recoverability of carrying amounts of property, plant and equipment, receivables, inventories. investments and other assets and itdoes not anticipate any major challenge in meeting its financial obligations, on a long term basis. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the Company has, at the date of approval of these standalone financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's standalone financial results may differ from thatestimated as atthe date of approval of these standalone financial results.
  • 5 The Code on Social Security, 2020 ('.the Code) which would impact the contributions by the Company towards Provident Fund and Gratuity has received Presidential assent in September 2020. The Code have been published in the Gazette of India. However, the date from which the Code will come into effect has not been notified. The Ministry of Labour and Employment (Ministry) has released draft rules for the Code on November 13, 2020 and has invited suggestions from stake holders which are under active consideration by the Ministry. The Company will complete its evaluation and will give appropriate impact in its standalone financial results in the period in which the Code becomes effective and the related rules are published.
  • 6 The Board of Directors at its meeting held on May 20, 2021 had recommended a dividend of Rs 115 per equity share for the financial year ended March 31. 2021 which was approved by the shareholders at the Annual General Meeting held on August 05, 2021. The aforesaid dividend was paid during the quarter resulting in a cash outflow of Rs 33,918 lakhs.
  • 7 On March 24, 2021, the Ministry of Corporate Affairs (MCA) through a notification, amended Schedule Illof the Companies Act, 2013, applicable for financial periods commencing from April 1, 2021. Pursuant to such amendments, non-current security deposits of Rs 2,987 lakhs as atMarch 31, 2021 have been reclassified from 'Loans' to 'Other financial assets'.
  • 8 Hitherto 'Power Tools' which was aggregated under 'Others' segment has been reported as a separate operating segment under 'Consumer Goods' considering that it has met the quantitative thresholds for separate disclosure.
  • 9 Previous period figures have been regrouped to conform with the classification adopted in these standalone financial results.

Place: Feuerbach, Germany (Soumitra Bhattacharya) Date: November 09, 2021 Managing Director

Website: www.bosch.in, e-mail ID:
8067521750
[email protected],
Tel: +91
L85110KA1951PLC000761
ClN:
Statement of Consolidated
for the
Unaudlted
Financial Results
quarter and
six
months
September
ended
30, 2021
(Rs. In
Lakhs)
Particulars Current
three
months
ended		 Preceding
three
months
ended		 Corresponding
three
months
ended		 Year
to
date
for
figures
the
current period
ended		 Year
to
date
figures
for
the
previous
period
ended		 ended
Year
September 30,
2021		 June
30,
2021		 September 30,
2020		 September 30, September
2021		 2020 30, March
31, 2021
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Income
(a)
Revenue
from
operations		 291,797 244,353 247,918 536,150 347,072 971,623
Other
Income
(b)		 12,434 9,897 10,148 22,331 27,486 50,397
Total Income
(a+b)		 304,231 254,250 258,066 558,481 374,558 1,022,020
2 Expenses
Cost of materials
consumed		 64,580
(a)
(b)Purchasesof stock-in-trade		 105,474 66016 57,803 130,596 78.474 233,551
trade 13,143 119,167
(41,357)		 75,910
13,444		 224,641 104,170 358,939
Employee
(d)
expense
(Refer
NoteS)
benefits		 25,283 27,056 (28,214)
52,339		 21,700
55,101		 (15,229)
93,161
Finance
costs
(e)		 152 320 30.833
132		 472 313 1,402
Depreciation
amortisation
expense
(U
and		 8,287 6,710 7,960 14,997 15,243 34,144
(g)Otherexpenses 47,565 42,807 41,100 90,372 69,045 185,135
Total expenses 264,484 220,719 227,182 485,203 344,046 891,103
3 exceptional items
-2)
Profit before
tax
and
(1		 39,747 33,531 30,884 73,278 30,512 130,917
4 Exceptional Items
(Refer
Note
3)		 - - 40,000 - 59.718 74,385
-4)
Profitl (loss)
before
tax
(3		 39,747 33,531 (9,116) 73,278 (29,206) 56,532
6 Tax
expense! (credit)
Current fax
for
period! year
the
(I)
relating
year
(ii)
to
earlier		 9,100
(7,646)		 7.739
-		 4,913
-		 16,839 4,870 19,281
Deferred
tax
charge! (credit)		 1,100 (184) (7,572) (7,646)
916		 (2,983)
(12,553)		 (2.983)
(7,836)
Total tax
expense! (credit)		 2,554 7,555 (2,659) 10,109 (10,666) 8,462
(5-6)
Net profit)
(loss)
period! year
for
the		 37,193 25,976 (6,457) 63,169 (18,540) 48,070
8 Share
of profit!(Ioss)
of associate
joint venture
and		 25 50 61 75 (2) 128
Net profit) (loss)
after
taxes
of profit! (loss)
of Associate
and
share
and
.Inint Venture		 37,218 26,026 (6,396) 63,244 (18,542) 48,198
10 Other
comprehensive
income
Items
that will not be
reclassified
to Statement of Profit and
Loss
(mainly
of changes
fair value
consists
of equity
instruments)
in
tax
above
Income
relating
to		 11,560
(1,322)		 382 (364) 11,942 5,191 41,860
comprehensive
(Net of tax)
Other
income		 10,238 (59)
323		 (8)
(372)		 (1,3811
10,561		 (341
5,157		 (3,873)
37,987
11 Total comprehensive
for the
Income
period! year
(9
+ 10)		 47,456 26,349 (6,768) 73,805 (13,385) 86,185
12 -up
capital (Face
of Rs
Paid
equity
share
value
10!-
each)		 2,949 2,949 2,949 2,949 2,949 2,949
13 Reserve
excluding
Revaluation
Reserves		 978,344
14 Earnings
per
share
(of Rs
10!-
each)
(weighted
average)
(a)
Basic
(b)
Diluted		 126
126		 2
88.3
2
88.3		 (21.7)
(21.7)		 214.5
214.5		 (62.9)
(62.9)		 163.4
163.4

Registered office: Hosur Road, Adugodi, Bengaluru- 560 030

Registered office: Hosur Road, Adugodi, Bengaluru- 560 030 Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 8067521750 CIN: L85110KA1951PLC000761

Segment wise Revenue, Results, Assets and Liabilities under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

IRs. In
Lakhst
Current Preceding
three		 Corresponding Year
to
date		 to
Year
date		 Year
ended
three
months		 months
ended		 three
months		 figures
for
the		 figures
for
the
Particulars ended ended current period previous
period
ended ended
September
30,		 June
30, 2021		 September 30, September
30.		 September 30, March
31, 2021
2021 2020 2021 2020
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Segment
Revenue
-Automotive
products		 243,642 214,835 212,841 458,477 294,098 837,802
- Consumer
Goods
(Refer
note
8)		 35374 20,953 25,555 56,327 34,969 94,993
-Others 14,465 8,687 9,793 23,152 18,850 40,431
Totalsegmentrevenue 293,481 244,475 248,189 537,956 347,917 973,226
Less: Intersegmentrevenue 1,684 122 271 1,806 845 1,603
Net income
from
operations		 291,797 244,353 247,918 536,150 347,072 971,623
Segment
Results
-Automotive
products		 28,771 27,343 (14,511) 56,114 (45,423) 20,430
-Consumer
Goods
(Refer
note
8)		 4,626 (348) 1,729 4,278 1,195 11,022
-Others 3,736 4,538 1,602 8,274 2,605 11,182
Total segment results 37.133 31,533 (11,180) 68,666 (41,623) 42.634
Less: Finance
costs		 152 320 132 472 313 1,402
: Unallocable
corporate
expenditure
Less		 8,920 6,962 7,952 15,852 14,756 33,182
Add
: Unallocable
income		 11,685 9,280 10,148 20,965 27,486 48,482
Total Profit/ (loss)
before
tax		 39,746 33,531 (9,116) 73,277 (29,206) 56,532
Segment Assets
-Automotive
products		 393,091 398,086 347,929 393,091 347,929 376,824
(Refer
noteS)
- Consumer
Goods		 36,409 37,976 24,655 36,409 24,655 35,361
-Others 35,670 29,758 33,124 35,670 33,124 28,836
465,170 465,820 405,708 465,170 405,708 441,021
-Unallocable
Assets		 1,006,588 991,931 901,543 1,006,588 901,543 1,035,407
TotalAssets 1,471,758 1,457,751 1,307,251 1,471,758 1,307,251 1,476,428
Segment
Liabilities
-Automotive
products		 380,409 351,452 336,719 380,409 336,719 400,285
- Consumer
Goods
(Refer
8)
note		 30,165 34,655 23,759 30,165 23,759 32,754
-Others 16,402 21,968 24,320 16,402 24,320 20,754
426,976 408,075 384,798 426,976 384,798 453,793
- Unallocable
Liabilities		 23.602 42.026 40,734 23,602 40,734 41,342
Total Liabilities 450,578 450,101 425,532 450,578 425,532 495,135

Registered office: Hosur Road. Adugodi, Bengaluru- 560 030 Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 8067521750 CIN: L85110KA1951PLC000761

Statement of Consolidated
of the
(Listing
Asseta
Liabilities
under
Regulation
Obligations
and
33
SEBI
and		 Disclosure
Requirements)
Regulations
2015
Lakhsl
IRs. In
Asat Asat
September 30, 2021
(Unaudited)		 March
31, 2021
)Audited)
A Assets
1. Non-current assets
Property, plant and
equipment		 99,201 90,871
Right of use
assets		 21,889 20,015
Capital work-in
progress		 35,718 48,778
Investment properties 12.364 13,177
Investments
subsidiary
in
and
associate		 1.725 1,427
Financial assets
(i)
Investments		 373,750 340,768
(ii)
Loans		 2,708 2,637
(iii)
Other
financial assets		 2,935 2,987
Income
tax
assets
(net)		 20,784 18,784
Deferred
tax
assets
(net)		 48,287 50,587
Other
non-current assets		 9,168 10,344
Total non-current assets 628,529 600,375
2. Current assets
Inventories 168.889 129,848
Financial assets
(i)
Investments		 105,829 172,762
(ii)
Trade
receivable		 133,672 138.736
(iii)
Cash
and
cash
equivatents		 28,401 28,891
(iv)
Bank
other
(iii) above
balances
than		 185,406
(v)
Loans		 70,222 216.173
52,540
(vi)
Other
financial assets		 98,106 93,630
Other
current assets		 52,704 43,473
Total current assets 843,229 876,053
Total assets
(1+2)		 1,471,758 1,476,428
B Equity
Uabilities
and
1. Equity
Equity
capital
share		 2949 2949
Other
equity
(i)
Reserves
surplus
and		 906,166 876842
(ii)
Other
reserves		 112,065 101502
Total equity 1,021,18e 981,293
2. Liabilities
Non-current liabilities
Financial liabilities
(i)
Financial lease
liabilities		 5,203 3,396
Other
(iii)
financial liabilities		 13,839 18.733
Provisions
Total non-current liabilIties		 25,674
44,716		 23,820
45.949
Current liabilitIes
Financial liabilities
(i)
payables
Trade
total outstanding
dues
to
micro
enterprises
small enterprises
and
total outstanding
of creditors		 18.601 11,405
otherthan
dues
micro
enterprises
and
small enterprises
(ii)
Financial lease		 197,522 210,890
liabilities
(iii)		 2.347 1,980
Other
financial liabilities		 34,365 73,994
Provisions
Other
current liabilities		 112,001
41,026		 107,310
43,607
Total current liabilities 449,186
Total liabilities 405.862
450.578		 495,135
Total equity
liabilities
and
(1+2)		 1,471,758 1,476,428

Registered office: Hosur Road, Adugodi, Bengaluru- 560 030 Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 8067521750 CIN: L85110KA1951 PLC000761

Condensed Statement of Cash Flow

For
the
period
September
30,
2021
(Unaudited)		 Lakhsl
IRs.
In
period
For
the
September
30,
2020
(Unaudited)
A operating
flow
from
activities
Cash
Profit] (loss)
before
income
tax		 73353 (29,208)
Operating
profit]
(loss)
capital changes
before
working		 66,667 (50,794)
operating
activities
Net
cash
used
in
(A)		 (21,480) (4,878)
from!
in) operating
Net
cash
(used
activies
(before
exceptional items)		 (21,480) 31,826
B. investing
flow
from
activities
Cash		 56,569 26,066
C. financing
flow
from
Cash
activities		 (35,579) (32,435)
cash
flows
during
the
period
Net
(A+B+C)		 (490) (11,247)
equivalents
beginning
Cash
and
cash
at the
of the
period
Cash
and
cash
equivalents
at the
of the
end
period
Net
decrease
cash
equivalents
cash
and
in		 28,891
28,401
(490)		 25,524
14,277
(11,247)

Registered office: Hosur Road. Adugodi, Bengaluru- 560 030 Website: www.bosch.irr, e-mail ID: [email protected], Tel: +91 8067521750 CIN: 185110KA1951PLC000761

Notes

  • 1 The above consolidated financial results have been prepared in accordance with Indian Accounting Standards ('lnd AS) notified under Section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules. 2015 (as amended).
  • 2 The above consolidated financial results were reviewed by the Audit Committee and approved by the Board at their meeting held on November 09, 2021. The limited review, as required under Regulation 33 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015. has been completed by the Statutory Auditors for the quarter and six months ended September 30. 2021 and they have issued an unmodified report on the aforesaid results.
  • 3 The Group is undergoing major transformation with regard to structural and cychcal changes in automotive market and emerging opportunities in the electro mobility and mobility segment. An amount of Rs. 74,385 lakhs for the year ended March 31, 2021, Rs. 59,718 lakhs for the six months ended September 30, 2020 and Rs. 40,000 lakhs for the quarter ended September 30. 2020 was expensed in the consolidated financial results towards various restructuring and transformational costs and disclosed as an exceptional item.
  • The Group has considered the possible effects that may result from the pandemic relating to COVlD-19 in the preparation of these consolidated financial results including the recoverability of carrying amounts of properly, plant and equipment, receivables, inventories, investments and other assets and itdoes not anticipate any major challenge in meeting its financial obligations, on a long term basis. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the Group has, at the date of approval of these consolidated financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. The impact of COVIO-19 on the Group's consolidated financial results may differ from that estimated as at the dato of approval of these consolidated financial results.
  • 5 The Code on Social Security, 2020 (1he Code) which would impact the contributions by the Group towards Provident Fund and Gratuity has received Presidential assent in September 2020. The Code have been published in the Gazette of India. However, the date from which the Code will come into effect has not been notified. The Ministry of Labour and Employment (Ministry) has released draft rules for the Code on November 13, 2020 and has invited suggestions from stake holders which are under active consideration by the Ministry. The Group will complete its evaluation and will give appropriate impact in its consolidated financial results in the period in which the Code becomes effective and the related rules are published.
  • 6 The Board of Directors at its meeting held on May 20, 2021 had recommended a dividend of Rs 115 per equity share for the financial year ended March 31. 2021 which was approved by the shareholders at the Annual General Meeting held on August 05. 2021. The aforesaid dividend was paid during the quarter resulting in a cash outflow of Rs 33,918 lakhs.
  • 7 On March 24. 2021, the Ministry of Corporate Affairs (MCA) through a notification, amended Schedule Illof the Companies Act, 2013. applicable for financial periods commencing from Apnl 1, 2021. Pursuant to such amendments, non-current security deposits of Rs 2,987 lakhs as at March 31, 2021 have been reclassified from 'loans' to 'Other financial assets'.
  • 8 Hitherto 'Power Tools' which was aggregated under 'Others' segment has been reported as a separate operating segment under 'Consumer Goods' considering that it has met the quantitative thresholds for separate disclosure.
  • 9 Previous period figures have been regrouped to conform with the classification adopted in these consolidatefinancial results.

Place : Feuerbach, Germany (Soumitra Bh8«charya) Date : November 09, 2021 Managing Director

Press release

Quarter 02.2021–2022 financial results Bosch Limited registers 13.6 percent profit before tax in Q2 FY 2021-22

  • November 09, 2021 Corp/C/CGR-IN CIN: L85110KA1951PLC000761
  • Total revenue from operations in Q2 of FY 2021–22 increased 17.7 percent year on year on a lower base
  • Profit after tax stood at 12.7 percent of total revenue from operations
  • Bosch India is nearing its centenary celebrations in 2022 this milestone is a testimony to the combined efforts of all associates

Bengaluru, India – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 2,918 crores in Quarter 2 of FY 2021– 22, an increase of 17.7 percent. The increase is due to a lower base in the previous year and substantial recovery in sales in the current year as the lockdown restrictions eased across states in the country in July-September of 2021.

Profit before tax stood at INR 397 crores. This is 13.6 percent of total revenue from operations. Profit after tax stood at INR 372 crores, that is 12.7 percent of revenue from operations.

"Although the automotive market production in India has currently declined also due to the ongoing semiconductor shortage, there are first signs of recovery. However, uncertainty in the market remains a major concern for the automotive industry going forward," said Mr. Soumitra Bhattacharya, Managing Director, Bosch Limited & President, Bosch Group in India.

Furthermore, on the recent announcements from the Government of India on the Automotive PLI, the latest in a series of emerging-industry focused PLI schemes, he added, "The PLI comes at the right time as a much-needed impetus to the automotive industry which has now faced several challenges since 2019 including COVID-19 and the ongoing semiconductor crisis. The focus on incentivizing advance automotive technology components will enable the industry to accelerate future technologies in mobility with an aim to bring India at par with global standards. Bosch will participate to maximize the PLI benefits which will help in overcoming some of the shortcomings linked to industrializing such technologies."

Snapshot of performance in Quarter 2

Product sales increased by 20 percent in the second quarter of FY 2021-22, with the Powertrain Solutions division registering an increase of 16 percent and the Aftermarket division witnessing an increase of 27 percent due to a low base in Q2 of FY 2020-21. Outside the Mobility Solutions business division, Bosch recorded an increase of 36 percent mainly due to business growth in the power tools segment in July-September of 2021. The company witnessed a recovery in sales volumes with gradual improvement in business environment from COVID-19 pandemic.

Bosch India nearing its 100th anniversary

As Bosch India is nearing its centenary celebrations in 2022, the company is already on the way to transitioning into an enterprise with a digital ecosystem while remaining true to our core of manufacturing and operational excellence. The achievements and milestones of Bosch India as an organization are a testament to the combined efforts of every individual associated with the company. "Our centenary celebrations are a result of dedication, commitment, and hard work demonstrated by our associates. Bosch has always been leading in the field of the cutting-edge products, solutions, and technologies for mobility and beyond it. In 2022, we will have multiple engagements to showcase our advancements and innovations across Bosch India's portfolio that drive towards our continued growth in the country. I am extremely proud of how far we have come, and we will continue to maintain this momentum for the years to come," Mr. Bhattacharya further added.

Contact person for press inquiries:

Mr. Uday Philip Phone: +91 9972975291 [email protected]

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 fifteen companies, viz, Bosch Limited, 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, Mivin Engg. Technologies Private Limited, Robert Bosch India Manufacturing and Technology Private Limited, PreBo Automotive Private Limited and Precision Seals. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 16 manufacturing sites, and seven development and application centers. Bosch

Bosch Limited Hosur Road, Adugodi Bengaluru - 560030

E-mail [email protected] Phone +91 9972975291

Corporate Communications/India Head – Shashikant Ameet Rele www.boschindia.com

Group in India employs over 31,530 associates and generated consolidated revenue of about ₨.17,354 crores* (2.05 billion euros) in 2020 of which ₨. 10,942 crores* (1.29 billion euros) from third party. The Bosch Group in India has close to 15,650 research and development associates. In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨. 8,386 crores (0.99 billion euros) in 2020. Additional information can be accessed at www.bosch.in

The Bosch Group is a leading global supplier of technology and services. It employs roughly 395,000 associates worldwide (as of December 31, 2020). The company generated sales of 71.5 billion euros in 2020. 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 some 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company's future growth is its innovative strength. At 129 locations across the globe, Bosch employs some 73,000 associates in research and development, of which nearly 34,000 are software engineers.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.boschpress.com, https://twitter.com/BoschPress

Details as required to be disclosed under aforesaid Regulation 30 read with clause 1 of Para A of Annexure I of SEBI Circular dated September 9, 2015

S.
No.		 Particulars Details
1. target
entity,
of the
details
Name
in
size,
turnover
etc.;
brief
such
as		 ("Autozilla")
Autozilla
Private
Limited
Solutions
is
a
offering
Hyderabad
Limited
Company,
based
Private
manufacturers,
B2B
e-commerce
solutions
for
sellers
spare
parts.
buyers
of automobile
and
(unaudited),
31,
Autozilla's
worth
As
on
March
2021
Net
at Rs.
15.23
and
Turnover
amounts
stood
Mn
to
Rs.
12.8
Mn.
2. acquisition
Whether
the
would
fall
transaction(s)
related
party
within
promoter!
promoter
whether
the
and
companies
group!
group
any
have
acquired?
entity
being
interest
the
in
yes,
nature
of
interest
and
details
If
thereof
whether
the
same
and
is
length";
done
at"arms		 acquisition
party
This
does
not
fall
within
related
transaction.
Group!
companies
Group
The
Promoter
do
Promoter!
any
interest
Autozilla.
not
have
in
3. Industry
the
entity
being
to
which
acquired
belongs;		 parts
B2B
e-commerce
in
auto
4. Objects
effects
acquisition
and
of
(including
but
not
limited
to,
acquisition
disclosure
of reasons
for
target
of
entity,
business
if
its
is
outside
the
of business
main
line
entity);
the
listed		 of management
The
of
Bosch
accorded
Board
Ltd.
has
in-principle
approval
invest
Autozilla
to
in
Solutions
startup
Hyderabad
(India)
from
that
Private
Ltd.,
a
operates
marketplace
e-commerce
for
buying
B2B
and
a
of selling
auto
parts.
part
of
initiative
establish
This
an
to
is
workshops.
effective
digital
ecosystem
around
vehicle
discussion
Bosch
with
Autozilla
to
invest
Ltd.
is
in
Rs.
for
minority
stake
upto
133.5
26%.
The
investment
Mn
a
subject
all statutory
approvals.
shall
be
to
transaction
enable
Automotive
This
will
Bosch
Ltd.'s
strengthen
Aftermarket
the
market
pull
division
to
through
"Extra"
Loyalty
Program
for independent
car
its
5. details
of any
governmental
or
Brief
regulatory
approvals
required
for
the
acquisition;		 workshops
and
Bosch
Service
outlets.
Car
Nil
6. period
completion
Indicative
time
for
acquisition;
of
the		 or before
31,
On
March
2022
7. - whether
Nature
of
consideration
swap
cash
consideration
share
or
same;
and
details
of the		 Consideration
Cash
8. acquisition
of
or
the
price
Cost
at
acquired;
which
the
shares
are		 The
total
investment
around
133.5
is
Rs.
Mn

9. /
of shareholding
Percentage
control
/
acquired
number
and
or
of
shares
acquired;		 capital
Upto
26%
of the
paid-up
of
Autozilla.
10. background
entity
Brief
about
the
acquired
products/line
terms
of
of
in
acquired,
business
date
of
incorporation,
history
years
last
of
3
turnover,
country
which
the
in
acquired
entity
presence
has
and
significant
any
other
information
(in
brief);		 Incorporated
April
24,
2015,
Autozilla
the
on
is
in
of
offering
e-commerce
for
business
B2B
solutions
manufacturers,
sellers
buyers
spare
and
of
automobile
parts
India.
in
Turnover
(Amount
Mn.)
in
Rs
31,2021
March
12.8*
31,2020
March
4.4
March
1,2019
8.2
3
Un-audited
figure

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