Below is the Quote on 1QFY21 results of Bosch Ltd –By Rajit Rajoriya, Equity Research Associate, Angel Broking Ltd.
“Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of Rs.992cr in FY 2020-21, a decline of 64 percent. The Covid-19 pandemic adversely impacted sales in all segments during the quarter. Loss before tax without inclusion of exceptional items stood at Rs.3.3Cr. Bosch Limited has continued its investment in restructuring, reskilling, and other transformational projects. An additional provision of INR 197 crores has been disclosed as an exceptional item for the quarter ended June 30, 2020 for this purpose. After allowing for this exceptional item, loss before tax stood at INR 200 crores, and loss after tax at INR 120 crores. Powertrain Solutions division registering a decline of 78.3 percent. However, the Two-Wheeler and Power sports product unit witnessed good double-digit growth during the quarter. Outside the Mobility Solutions business sector, business recorded a decline of 59.9 percent. Company will remain focused on the agriculture sector, particularly on tractor demand for the upcoming quarters. However, Company predicts the auto sector as a whole will take four to five years to return to the levels of 2018-19.”
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