Bosch India (BOSCHLTD) Q4 1999 earnings summary

Executive summary

• FY1999 sales rose 16% YoY to Rs 15,099.8 million; profit before tax reached Rs 1,550.7 million and profit after tax Rs 1,057.8 million.

• Recovery in automotive demand lifted OE supplies and aftermarket sales; profit before tax was 10.3% of turnover versus 7.8% in 1998.

Financial highlights

• Revenue was Rs 15,099.8 million versus Rs 12,981.7 million; exports fell to Rs 1,779.3 million from Rs 1,921.2 million.

• Profit before tax increased to Rs 1,550.7 million from Rs 1,008.7 million; profit after tax rose to Rs 1,057.8 million from Rs 698.6 million.

• Other income increased to Rs 432.8 million from Rs 322.6 million; net interest expense declined to Rs 7.0 million from Rs 81.7 million.

• Operating cash flow was Rs 2,256.3 million versus Rs 1,811.7 million; investing activities used Rs 1,732.8 million.

Outlook and guidance

• Euro I fuel injection equipment was introduced and Euro II projects started for major customers; electronic diesel control, common rail and unit injector systems target future Euro III and IV needs.

• R&D priorities include electronic diesel and petrol injection systems, lower emissions and fuel use, export-market products, and expanded testing facilities.

• A modern application development center with engine and vehicle testing facilities was nearing completion to support injection-system development and reduce lead time and cost.