Bosch India (BOSCHLTD) Q4 2000 earnings summary

Executive summary

• FY2000 sales rose 9% to Rs 16,522.6 million, while profit before tax and profit after tax declined amid weaker automotive demand and a Rs 400 million restructuring provision.

• Operations focused on cost control, product development, quality and delivery improvements; a new automotive application center and emission-compliant products strengthened technical capabilities.

Financial highlights

• Sales were Rs 16,522.6 million vs Rs 15,099.8 million; export sales were Rs 1,998.5 million vs Rs 1,779.3 million.

• Profit before tax was Rs 1,434.4 million vs Rs 1,697.8 million; profit after tax was Rs 811.9 million vs Rs 1,057.8 million.

• Other income was Rs 415.6 million vs Rs 432.8 million; interest expense, net of interest received, rose to Rs 46.1 million from Rs 7.0 million.

• Net cash from operating activities was Rs 1,208.5 million vs Rs 2,256.3 million; cash and cash equivalents closed at Rs 636.0 million vs Rs 579.9 million.

Outlook and guidance

• Industry slowdown continued into 2001, particularly in commercial vehicles, a significant business segment; product development targeted stricter emission norms and lower fuel consumption.

• Future R&D priorities included electronic diesel injection systems, cost-effective export products, expanded test facilities and paid application support for local and international customers.

• The Jaipur plant’s start-up was in line with expectations and it became self-reliant in distributor pump manufacturing.