Revenue from operations during the quarter under review was at Rs 3201crore, rise of 14%.

The company witnessed good operational performance during the quarter. Margins registered moderate improvement.

"Bosch Limited's performance in the first two quarters highlights our continuedcommitment to delivering best-in-class automotive solutions. With these, we arehelping our customers to meet the challenge of manufacturing only vehiclescompliant with BS VI emission standards from April 2020 as recently ruled by theSupreme Court. In the past quarter, Bosch has outperformed the industry inbusiness beyond mobility sectors as well. As a recognized industry leader in manysectors, we will continue to present innovations across our business including IoTservices and integrated mobility offerings," said Mr. SoumitraBhattacharya,Managing Director, Bosch Limited.

Quarterly Performance

For the second quarter ended Sept 2018, the company's margins witnessed 50 bps rise, mainly due to drop in employee and other expenses. Else, raw material cost including purchase of stocks increased 30 bps to 55.63%. The employee cost (as a % of sales, net of stock) decreased 120 bps to 10.9%. Other expense (as a % of sales, net of stock) decreased by 9 bps to 14.4%. OPM during the quarter rose 50 bpsto 19.6%(against 18.6%) leading to17%rise in operating profit to Rs 596.24 crore.

With 8% risein other income at Rs 139.51 crore, PBIDT rose 16% to Rs 735.75crore. With negligible interest cost at Rs0.01 crore vis a vis Rs 0.03 crorein previous corresponding quarter and 14%drop in depreciation charges at Rs 95.04 crore, profit before taxrose 22%to Rs 640.71crore.After almost 160 bps risein effective tax rate and 28%rise in tax provision at Rs 220.72 crore, net profit rose 19%to Rs 419.99crore.

Bosch Limited's Mobility Solutions turnover increased by 12.3% Q2FY19. The largest contributor were domestic automotive sales whichhave increased by 15.1%. Within the Mobility Solutions business, thePowertrain Solutions division performed especially well, registering double-digitgrowth of 10.3%. The Automotive Aftermarket division grew by 20.9% after recovering from impact of GST implementation last year.

Bosch's business beyond the Mobility Solutions sector registered a strong double-digitgrowth of 14.3%. The main contributors were the Energy and Building

Technology sector and the Power Tools division.

Half Year Performance

For the first half year period ended Sept 2018, Bosch's topline grew 17% to Rs 6413.26 crore.

For H1FY19, the company's margins witnessed 180 bps rise, mainly due to drop in employee and other expenses. Else, raw material cost including purchase of stocks increased 260 bps to 56.8%. The employee cost (as a % of sales, net of stock) decreased 230 bps to 10.4%. Other expense (as a % of sales, net of stock) decreased by 140 bps to 14.1%. OPM during the first half period rose 180 bps to 19.1% (against 17.3%) leading to 29% rise in operating profit to Rs 1224.41 crore.

With 2% dropin other income at Rs 254.2 crore, PBIDT rose 23% to Rs 1478.58crore. With negligible interest cost at Rs 0.01 crore vis a vis Rs 0.54 crore in previous corresponding half and 13% drop in depreciation charges at Rs 188.94 crore, profit before tax rose 31% to Rs 1289.3crore. After almost 40 bps rise in effective tax rate and 32% rise in tax provision at Rs 438.66 crore, net profit rose 30% to Rs 850.97 crore.

For the first half business year ended September2018, total turnover showeda growth of 17%. Sales of the Mobility Solutions sector increased by 16.3% whereas business beyond the Mobility Solutions sector witnessed a strongdouble-digit growth of 30.1%.

The scrip is currently trading around Rs 19,500at BSE.