Bosch Limited’s Mobility Solutions businesses grew by 17.8 percent and outperformed the automotive market . Pic for representation only
"Bosch is offering the right technologies to shape the future while also taking care of the core businesses. We expect to remain on a path of growth in both areas in the current business year and are well prepared", stated Soumitra Bhattacharya, managing director, Bosch Limited, and president Bosch Group in India, while announcing the results for Q3.
Snapshot of business divisions' performance in Quarter 3
Overall, Bosch Limited's Mobility Solutions businesses grew by 17.8 percent and outperformed the automotive market which grew by 14.0 percent (excluding two-wheeler) in this period. Key performing divisions were the Gasoline Systems business, which registered an impressive growth of 37.1 percent. Sales of the Diesel Systems' division registered a similar growth of 33.6 percent supported by higher demand and price for new generation products with the changes in emission norms with effect from April 2017. Bosch's Automotive Aftermarket division witnessed a stable growth of 4 percent after recovering from GST transition. It was impacted by low availability of working capital with channel partners, and a reduction in the company's Car Multimedia business.
With regard to the company's business beyond the Mobility Solutions sector, the divisions Security Systems, Packaging Technology and Thermotechnology achieved double-digit growth, while the Energy Solutions business saw a decrease. This led to an overall decline of 3.1 percent.
"Bosch Limited is strongly committed to the electrification vision of the Indian government", commented Mr. Bhattacharya. "Bosch has always been a pioneer of technologies for the automotive domain and has driven technology transformations such as the introduction of electronic fuel injection equipment. We will continue to develop technologies tailored to the requirements of the Indian market and enable the electrification of the powertrain. We will start with 2W and 3W components and as the market picks up, we will foray into other segments," he continued.
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