Operating profit margin has jumped from 11.63% to 12.25%, leading to 24.02% rise in operating profit to Rs 357.52 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.65% to 23.18%.   Purchase of finished goods cost rose from 32.37% to 37.85%.   Employee cost decreased from 13.15% to 9.07%.   Other expenses fell from 17.53% to 17.07%.   

Other income rose 22.53% to Rs 124.34 crore.  PBIDT rose 23.63% to Rs 481.86 crore.  Provision for interest rose 15.15% to Rs 1.52 crore.  Loan funds rose to Rs 75.50 crore as of 30 September 2021 from Rs 63.11 crore as of 30 September 2020.  Inventories rose to Rs 1,688.89 crore as of 30 September 2021 from Rs 876.37 crore as of 30 September 2020.  Sundry debtors were lower at Rs 1,336.72 crore as of 30 September 2021 compared to Rs 1,395.22 crore as of 30 September 2020.  Cash and bank balance rose to Rs 2,138.07 crore as of 30 September 2021 from Rs 1,730.43 crore as of 30 September 2020.  Investments rose to Rs 4,813.04 crore as of 30 September 2021 from Rs 4,447.37 crore as of 30 September 2020 .  

PBDT rose 23.66% to Rs 480.34 crore.  Provision for depreciation rose 4.11% to Rs 82.87 crore.  Fixed assets declined from Rs 1,775.03 crore as of 30 September 2020 to Rs 1,691.72 crore as of 30 September 2021.  

Profit before tax grew 28.70% to Rs 397.47 crore.  Share of profit/loss was 59.02% lower at Rs 0.25 crore.  Provision for tax was debit of Rs 25.54 crore, compared to credit of Rs 26.59 crore.  Effective tax rate was 6.42% compared to 29.36%.

Minority interest was nil in both the periods.  

Equity capital stood at Rs 29.49 crore as of 30 September 2021 to Rs 29.49 crore as of 30 September 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 70.54% as of 30 September 2021 ,compared to 70.54% as of 30 September 2020 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Bosch has increased 54.48% to Rs 5361.5 crore.  

Operating profit margin has jumped from 5.35% to 12.39%, leading to 257.40% rise in operating profit to Rs 664.16 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.12% to 23.14%.   Purchase of finished goods cost rose from 32.02% to 39.80%.   Employee cost decreased from 16.93% to 9.27%.   Other expenses fell from 21.22% to 16.01%.   

Other income fell 18.76% to Rs 223.31 crore.  PBIDT rose 92.64% to Rs 887.47 crore.  Provision for interest rose 50.80% to Rs 4.72 crore.  Loan funds rose to Rs 75.50 crore as of 30 September 2021 from Rs 63.11 crore as of 30 September 2020.  Inventories rose to Rs 1,688.89 crore as of 30 September 2021 from Rs 876.37 crore as of 30 September 2020.  Sundry debtors were lower at Rs 1,336.72 crore as of 30 September 2021 compared to Rs 1,395.22 crore as of 30 September 2020.  Cash and bank balance rose to Rs 2,138.07 crore as of 30 September 2021 from Rs 1,730.43 crore as of 30 September 2020.  Investments rose to Rs 4,813.04 crore as of 30 September 2021 from Rs 4,447.37 crore as of 30 September 2020 .  

PBDT rose 92.93% to Rs 882.75 crore.  Provision for depreciation fell 1.61% to Rs 149.97 crore.  Fixed assets declined from Rs 1,775.03 crore as of 30 September 2020 to Rs 1,691.72 crore as of 30 September 2021.  

Profit before tax grew 140.15% to Rs 732.78 crore.  Provision for tax was debit of Rs 101.09 crore, compared to credit of Rs 106.66 crore.  Effective tax rate was 13.78% compared to 36.52%.

Minority interest was nil in both the periods.  

Equity capital stood at Rs 29.49 crore as of 30 September 2021 to Rs 29.49 crore as of 30 September 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 70.54% as of 30 September 2021 ,compared to 70.54% as of 30 September 2020 .  

Full year results analysis.

Net sales (including other operating income) of Bosch has declined 1.27% to Rs 9716.23 crore.  Sales of Automotive products segment has gone up 0.51% to Rs 8,378.02 crore (accounting for 86.09% of total sales).  Sales of Others segment has gone down 11.74% to Rs 1,354.24 crore (accounting for 13.91% of total sales).  Inter-segment sales came down from Rs 27.91 crore to Rs 16.03 crore.  

Profit before interest, tax and other unallocable items (PBIT) has slumped 33.35% to Rs 426.34 crore.  PBIT of Automotive products segment fell 58.59% to Rs 204.30 crore (accounting for 47.92% of total PBIT).  PBIT of Others segment rose 51.77% to Rs 222.04 crore (accounting for 52.08% of total PBIT).  

PBIT margin of Automotive products segment fell from 5.92% to 2.44%.  PBIT margin of Others segment rose from 9.54% to 16.40%.  Overall PBIT margin fell from 6.48% to 4.38%.  

Operating profit margin has declined from 15.07% to 11.95%, leading to 21.75% decline in operating profit to Rs 1,160.66 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.96% to 23.67%.   Purchase of finished goods cost rose from 28.92% to 36.37%.   Employee cost decreased from 13.19% to 9.44%.   Other expenses rose from 18.51% to 18.76%.   

Other income fell 7.79% to Rs 503.97 crore.  PBIDT fell 17.99% to Rs 1664.63 crore.  Provision for interest rose 37.99% to Rs 14.02 crore.  Loan funds declined from Rs 73.84 crore as of 31 March 2020 to Rs 53.76 crore as of 31 March 2021.  Inventories rose to Rs 1,298.48 crore as of 31 March 2021 from Rs 1,115.93 crore as of 31 March 2020.  Sundry debtors were lower at Rs 1,387.36 crore as of 31 March 2021 compared to Rs 1,413.05 crore as of 31 March 2020.  Cash and bank balance rose to Rs 2,450.64 crore as of 31 March 2021 from Rs 2,256.10 crore as of 31 March 2020.  Investments rose to Rs 5,149.57 crore as of 31 March 2021 from Rs 4,032.71 crore as of 31 March 2020 .  

PBDT fell 18.28% to Rs 1650.61 crore.  Provision for depreciation fell 10.92% to Rs 341.44 crore.  Fixed assets declined from Rs 1,829.03 crore as of 31 March 2020 to Rs 1,728.41 crore as of 31 March 2021.  

Profit before tax down 20% to Rs 1,309.17 crore.  Extraordinary items were decreased to Rs -743.85 crore.  Provision for tax was expense of Rs 84.62 crore, compared to Rs 334.89 crore.  Effective tax rate was 14.93% compared to 36.42%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 17.54% to Rs 481.98 crore.  

Equity capital stood at Rs 29.49 crore as of 31 March 2021 to Rs 29.49 crore as of 31 March 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 70.54% as of 31 March 2021 ,compared to 70.54% as of 31 March 2020 .  

Cash flow from operating activities decreased to Rs 715.40 crore for year ended March 2021 from Rs 1,336.12 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 199.83 crore, compared to Rs 435.67 crore during the year ended March 2020.

Management commentary: Mr. Soumitra Bhattacharya, Managing Director, Bosch Limited & President, Bosch Group in India said "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,"

"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."