On a consolidated basis, the company reported a 26% fall in net profit to Rs 480.70 crore for the year ended March 2021 (FY21) compared to Rs 649.82 crore registered in the year ended March 2020 (FY20). Net sales declined 1.27% to Rs 9,716.23 crore in FY21 over FY20.

During the FY 2020-21, Bosch made a provision of Rs 743.85 crore, towards various restructuring, reskiling and redeployment initiatives. These provisions have helped in transforming the company and making it future ready. Total investments in FY2020-21 amounted to Rs 246 crore with major spend on the expansion of Adugodi campus into a smart campus.

Soumitra Bhattacharya, MD of Bosch said, "Despite facing a spell of near-zero sales in the month of April and May in 2020, there has been a significant increase in the demand from the agriculture sector, mainly the tractor business. Industry showed continued signs of recovery since the second quarter of FY 2020-21, however, it remains impacted due the uncertainties in the market. International market volatilities in the supply chain will also continue to impact the auto sector. Furthermore, we have seen growth in the Power Tools segment, especially in the construction and e-commerce sectors."

Speaking about the outlook for the upcoming fiscal year, Bhattacharya commented, "The auto industry was seeing itself on a road of recovery until early this year and Bosch Limited's positive results is a validation to it. However, with the second wave being more severe, there is a clear uncertainty in the market. With 80% of our revenues driven through mobility business, we have been affected adversely. The challenge will be to manage the fluctuating demand, supply chain crisis and changing consumer behavior all at once."

The board has declared a final dividend of Rs 115 per share for the financial year ended March 2021.

Meanwhile the company announced that Dr. Bernhard Straub has resigned as a chairman and director of the company with effect from close of business hours on 20 May 2021, due to change in area of his responsibility at global level.

Bosch is a supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.