Bosch Limited

Soumitra Bhattacharya

MANAGING DIRECTOR, BOSCH LIMITED

Guruprasad Mudlapur

JOINT MANAGING

Karin Gilges

CHIEF FINANCIAL OFFICER – BOSCH LIMITED

Annamalai Jayaraj

BATLIVALA & KARANI SECURITIES INDIA PRIVATE LIMITED

Karin Gilges

Chief Financial Officer.

6.6%

on. If you look at India and its economy, IMF expects for the FY '23, a real GDP growth of around 6.6% to 6.8%. India is expected in FY '24 to be anywhere between 5.5% to 6%. And of course, the govern

6.8%

ou look at India and its economy, IMF expects for the FY '23, a real GDP growth of around 6.6% to 6.8%. India is expected in FY '24 to be anywhere between 5.5% to 6%. And of course, the government has

5.5%

'23, a real GDP growth of around 6.6% to 6.8%. India is expected in FY '24 to be anywhere between 5.5% to 6%. And of course, the government has a continued focus on CAPEX as you have seen in the budge

6%

eal GDP growth of around 6.6% to 6.8%. India is expected in FY '24 to be anywhere between 5.5% to 6%. And of course, the government has a continued focus on CAPEX as you have seen in the budget, w

17%

balance and reduce its fiscal deficit. The overall automotive market production has increased by 17% or (+17%) year-on-year in the current quarter. This, of course, excludes two-wheelers. And this i

21%

ghlights of Quarter 3 FY '23. Pass cars segment has outperformed other segments growing by a plus 21% year-on-year, volume growth supported, on one hand, by easing chip supplies to the past. On the o

25 million

-wheeler segment has been stable on a year-on-year basis, albeit nowhere near the past records of 25 million. We expect in the fiscal year '22-'23 to be about 20 plus million. LCV segm

5%

in the fiscal year '22-'23 to be about 20 plus million. LCV segment at plus 5% year-on-year, and the HCV segment has grown on a plus 20% year-on year, albeit on a low base. On

20%

LCV segment at plus 5% year-on-year, and the HCV segment has grown on a plus 20% year-on year, albeit on a low base. On the ground situation, there is a steady fleet utilization

rs,

ticular segment. For instance, the first row recommends the pass cars followed by HCV, LCV, tractors, two-wheelers, three-wheelers, respectively. The first column represents 2018 production volumes, w

INR 36,599 million

omic and automotive sectors. The overall revenue from operations for October to December stood at INR 36,599 million, which is an increase of 17.7% on the comparable basis of the corresponding period of the previ

17.7%

enue from operations for October to December stood at INR 36,599 million, which is an increase of 17.7% on the comparable basis of the corresponding period of the previous year.

“We expect in the fiscal year '22-'23 to be about 20 plus million.”

“Based on the numbers in 2023, industry will grow, albeit, of course, at a slower pace over 2020.”

“Within PVs, we can continue to expect a shift towards utility vehicles.”

“The tractor segment is expected to witness a minor degrowth, of course, on a high base, while two-wheelers will continue to grow, and though it will be well below the 2018 peak, which I spoke about.”

“Balance income would be recognized in subsequent quarters on the project completion days of the customers.”

“We have told you earlier that we were doing new business areas in the project of electrification, mobility solutions, as well as hydrogen.”

“And related to that is the extension on the PLI side as to what are the kind of PLI benefits, which you expect for the business, including ICE and the EV side for the foreseeable future as you kind of reduce their import content?”

“So, how do you see with the entire lot of the focus on EV work being done in India and the PLI scheme, and should one expect reasonable reduction in the percentage contribution from traded goods or imported components for Bosch going forward?”

“So, in Bosch, we always take a stated call, a very calculated call, on phased localization and this is either about our traditional conventional products, or new age products, or even the completely new age like EV and in future, it will be also hydrogen.”

“But given the fact that Bosch globally has enough and more reasonably strong capacities and capabilities on the ICE component side, so as the responsibility for Bosch India Limited, the subsidiary in India, the listed entity, would it be wiser to assume that you will be deploying the incremental resources and the focus on electrification where you can do lot more value add in India above, or just simply duplicating capacities in India in addition to what you have at the parent level globally?”

Soumitra Bhattacharya

15

Moderator

9

Viraj Kacharia

5

Jinesh Gandhi

4

Guruprasad Mudlapur

4

Priyaranjan

4

Pramod Kumar

3

Pramod Amthe

3

Karin Gilges

1

Soumitra Bhattacharya

Thank you, Annamalai Jayaraj. A very good afternoon to all the colleagues who are participating in this call. Today, I would like to brief you a little bit on the macroeconomic policy as well as what’s happening on the automotive market, and then I will walk you through our financials. And finally, I would like to tell you something about the quarter relating to our business. The global economy is facing a significant down risk on the growth with persistently high inflation. If you look at India and its economy, IMF expects for the FY '23, a real GDP growth of around 6.6% to 6.8%. India is expected in FY '24 to be anywhere between 5.5% to 6%. And of course, the government has a continued focus on CAPEX as you have seen in the budget, while, of course, also trying to balance and reduce its fiscal deficit. The overall automotive market production has increased by 17% or (+17%) year-on-year in the current quarter. This, of course, excludes two-wheelers. And this is on a low base of Quarte