BOSCH charts roadmap to navigate through uncertain year ahead

Acknowledging FY21 as a difficult year for the automotive industry, the company expects the current fiscal to turn out to be better than the previous one, reports Rajesh Rajgor

- Rajesh Rajgor

Bosch Limited, the flagship company of the Bosch Group in India, a leading global supplier of technology and services, ended its fiscal year 2020-21 with a total revenue from operations of Rs 9,718 crore (Euro 1.12 billion), thus registering only a marginal decline of 1.3 per cent compared to the previous fiscal year. “Despite facing a spell of near-zero sales in the month of April and May in 2020, there has been a significant increase in the demand from the agriculture sector, mainly the tractor business. The industry showed continued signs of recovery since the second quarter of FY 2020-21; however, it remains impacted due the uncertainties in the market,” said Soumitra Bhattacharya, Managing Director, Bosch Limited and President, Bosch India.

“International market volatilities in the supply chain will also continue to impact the automotive sector. Furthermore, we have seen growth in the power tools segment, especially in the construction and e-commerce sectors,” he added. During FY 2020-21, Bosch Limited made a provision of Rs 743.8 crore towards various restructuring, reskilling and redeployment initiatives. These provisions have helped the company in transforming the company and making it future-ready. Total investments in 2020-21 amounted to Rs 246 crore with major spend on the expansion of its Adugodi campus into a smart campus.

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