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MIRA INFORM REPORT
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Report No. : |
503579 |
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Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
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Name : |
BOSCH LIMITED [w.e.f. 18.01.2008] |
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Formerly Known
As : |
MOTOR INDUSTRIES COMPANY LIMITED |
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Registered
Office : |
Post Box No. 3000, Hosur Road, Adugodi, Bangalore – 560030, Karnataka |
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Tel. No.: |
91-80-22220088 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.11.1951 |
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Com. Reg. No.: |
08-000761 |
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Capital
Investment / Paid-up Capital : |
INR 305.000 Million |
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CIN No.: [Company Identification
No.] |
L85110KA1951PLC000761 |
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IEC No.: [Import-Export Code No.] |
0788000314 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACM9840P |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
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Line of Business
: |
Subject manufactures and trades in products such as diesel
and gasoline fuel injection systems, automotive aftermarket products, starters
and generators, industrial equipments, packaging machines, electrical power
tools, security systems and industrial and consumer energy products and
solutions. [Registered Activity] |
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No. of Employees
: |
8488 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Bosch Limited (BL) is a part of “Robert Bosch GmbH”, Germany and was incorporated in the year 1951 having excellent track record. The subject acts as a supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, energy and building technology. As per financials of March 2017, the company has achieved decent sales growth at 7.38% compared to its previous year along with good profitability margin of 14.68% during the year. Rating takes into consideration, the robust financial risk profile marked by adequate net worth base along with strong operating efficiency and comfortable liquidity position. Rating continues to derive strength from company’s significant presence in domestic as well and international mobility market by strong brand appeal, wide distribution and service network and strong focus on Indian technologies and development segment with well experienced management team. Moreover, the company plans to move its first step towards series production of end to end electrified solutions adapted to the Indian market which will result in better margins for the company in coming future. The company has its share price trading at around INR 20237.10 on BSE as on 12th April 2018 as against its face value of INR 10. It is also noted that “Robert Bosch” has be ranked 76th with Global Fortune 500 Companies. Further, as per 3rd quarter results of December 2017, the company has achieved revenue of INR 30719.200 Million and has clocked profit margin of approximately 9.67%. It is also noted that “Robert Bosch” has be ranked 76th with Global Fortune 500 Companies. Trade relations are trustworthy. Payments seems to be regular and as per commitment. In view of aforesaid, the company can be considered good
for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is listed as a Sick Unit in the
publicly available BIFR (Board for Industrial & Financial Reconstruction)
list as of 14.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-80-22220088)
LOCATIONS
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Registered Office : |
Post Box No. 3000, Hosur Road, Adugodi, Bangalore – 560030, Karnataka,
India |
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Tel. No.: |
91-80-22220088 |
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Fax No.: |
91-80-22992181 |
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E-Mail : |
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Website : |
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Head/ Corporate Office / Plant 1 : |
Hosur Road, Post Box No.3000, RMB Complex, Adugodi, Bangalore – 560030, Karnataka, India |
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Plant 2 : |
Post Box No. 64, 75, MIDC Estate, Satpur, Trimbak Road, Nashik – 422007, Maharashtra, India |
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Plant 3 : |
No. 42, II-Phase, Sector-2, KIADB Industrial Area, Shanumangala Bidadi Hobli, Ramanagara – 562109, Karnataka, India |
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Plant 4 : |
SP-663 RIICO Industrial Area Sitapura, Jaipur – 302022, Rajasthan, India |
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Plant 5 : |
Naganathapura Plant, Post Box No. 6887, Electronic City P.O. Bangalore – 560100, Karnataka, India |
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Plant 6 : |
P. No. B8, SIPCOT Industrial Centre, Tirunelveli Taluk, Gangaikondan – 627352, Tamilnadu, India |
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Plant 7 : |
Indospace SKCL, Oragadam Wallajabad Road, Sriperumbudur, Kancheepuram, Chennai – 631604, Tamilnadu, India |
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Plant 8 : |
N-4A, Phase IV, Verna Industrial Estate Verna, Salcate – 403722, Goa, India |
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Plant 9 : |
75, MIDC, Satpur, Nashik – 422007, Maharashtra, India |
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Security System
Division: |
303 Building, 2nd Floor, Post Box No.3000, Hosur Road, Adugodi, Bangalore
– 560030, West Bengal, India |
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Regional Offices: |
Located at: · Chennai · Jharkhand · New Delhi · Chennai · Pune · Rajkot · Jamshedpur |
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Sales Offices : |
Located At: · Ahmedabad ·
Jabalpur · Ernakulam · Patna · Kolkata · Vijayawada · Raipur · Delhi & Ghaziabad · Bengaluru · Jodhpur · Guwahati · Lucknow · Jabalpur · Rajkot · Jaipur · Bhubaneshwar · Mumbai · Indore · Chandigarh, Punjab and Panchkula · Madurai ·
Chennai · Ranchi ·
Secunderabad ·
Pune |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Soumitra Bhattacharya |
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Designation : |
Managing Director |
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Address : |
15/1A, Off Palace Road, Opposite Maruti Temple, Bangalore – 560001, Karnataka, India |
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Date of Birth/Age : |
15.06.1953 |
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Date of Appointment : |
01.01.2017 |
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DIN No.: |
02783243 |
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PAN No.: |
AFIPB5880J |
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Name : |
Mr. Peter Tyroller |
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Designation : |
Director |
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Address : |
70619 Stuttgart Riederstr 2 Stuttgart |
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Date of Appointment : |
01.07.2013 |
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DIN No.: |
06600928 |
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Name : |
Mr. Andreas Friedhelm Wolf |
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Designation : |
Director |
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Address : |
No. 289 38th Cross, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Appointment : |
01.03.2015 |
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DIN No.: |
07088505 |
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Name : |
Jan Oliver Röhrl |
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Designation : |
Alternate Director |
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Address : |
Villa No. E17, Epsilon Villas Yamalur Main Road, Bangalore – 560037, Karnataka, India |
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Date of Appointment : |
11.02.2017 |
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DIN No.: |
07706011 |
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Name : |
Mr. Vegulaparanan Kasi Viswanathan |
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Designation : |
Director |
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Address : |
F 01,1st Floor, Legacy Caldera 56 SRT Road, Cunningham Cross Road, Bangalore – 560052, Karnataka, India |
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Date of Birth/Age : |
20.11.1950 |
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Date of Appointment : |
01.11.2007 |
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DIN No.: |
01782934 |
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Name : |
Mr. Bernhard Alfons Steinrucke |
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Designation : |
Director |
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Address : |
Flat No.3,First Floor Breach Candy House, 68 B.D. Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
29.06.1955 |
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Date of Appointment : |
15.06.2005 |
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DIN No.: |
01122939 |
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Name : |
Mr. Bhaskar Bhat |
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Designation : |
Director |
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Address : |
No.884 Chaitanya Plot, Indiranagar Ist Stage, Bangalore – 560038, Karnataka, India |
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Date of Appointment : |
01.01.2013 |
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DIN No.: |
00148778 |
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Name : |
Ms. Hema Ravichandar |
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Designation : |
Additional Director |
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Address : |
3-C, Moyenville Place, No.18, Moyenville Road, Langford Town, Bangalore -560025, Karnataka, India |
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Date of Appointment : |
02.09.2017 |
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DIN No.: |
00032929 |
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Name : |
Mrs. Renu Sud Karnad |
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Designation : |
Director |
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Address : |
BB-14, Greater Kailash, Enclave-II, New Delhi – 110048, India |
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Date of Birth/Age : |
03.09.1952 |
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Date of Appointment : |
01.04.2007 |
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DIN No.: |
00008064 |
KEY EXECUTIVES
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Name : |
Mr. Srinivasan Karthik |
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Designation : |
Chief Finance Officer |
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Address : |
69, SVK Layout, 2nd Cross, Basaveswara Nagar, Bangalore - 560079, Karnataka, India |
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Date of Appointment : |
11.02.2017 |
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PAN No.: |
AADPK5225E |
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Name : |
Mr. Vijay Ramachandran |
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Designation : |
Company Secretary |
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Address : |
No. 2/11, Flat No. 202 Shanthinagar, Bangalore – 560027, Karnataka, India |
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Date of Appointment : |
11.02.2017 |
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PAN No.: |
ADPPV2038M |
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Name : |
Mrs. Soumitra Bhattacharya |
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Designation : |
Managing Director |
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Address : |
15/1A, Off Palace Road, Opposite Maruti Temple, Bangalore – 560001, Karnataka, India |
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Date of Birth/Age : |
15.06.1953 |
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Date of Appointment : |
05.06.2014 |
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PAN No.: |
AFIPB5880J |
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Audit Committee: |
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Stakeholders
Relationship Committee: |
·
Bernhard Steinruecke, Chairman ·
V. K. Viswanathan ·
Renu S. Karnad ·
Prasad Chandran · Dr. Steffen Berns · Soumitra Bhattacharya (from 01.01.2017) |
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Nomination and Remuneration Committee: |
· Bernhard Steinruecke, Chairman · V. K. Viswanathan · Prasad Chandran ·
Bhaskar Bhat |
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Corporate Social
Responsibility Committee: |
· Prasad Chandran, Chairman · Bhaskar Bhat · Soumitra Bhattacharya · Dr. Steffen Berns (upto 31.12.2016) ·
Dr. Andreas Wolf (from 01.01.2017) |
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Share Transfer
Committee: |
· Bernhard Steinruecke · Prasad Chandran · Bhaskar Bhat · Dr. Steffen Berns (upto 31.12.2016) · Soumitra Bhattacharya (from 01.01.2017) |
SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter and Promoter
Group |
21512705 |
70.49 |
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(B) Public |
9008035 |
29.51 |
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Grand
Total |
30520740 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
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Any Other (specify) |
454000 |
1.49 |
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Robert Bosch Engineering
and Business Solutions Private Limited |
454000 |
1.49 |
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Sub Total A1 |
454000 |
1.49 |
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A2) Foreign |
0.00 |
||
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Any Other (specify) |
21058705 |
69.00 |
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Robert Bosch GMBH |
21058705 |
69.00 |
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Sub Total A2 |
21058705 |
69.00 |
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A=A1+A2 |
21512705 |
70.49 |
Statement showing
shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
No. of fully
paid up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0 |
0.00 |
|
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Mutual Funds/ |
705555 |
2.31 |
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Alternate Investment
Funds |
3371 |
0.01 |
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Foreign Portfolio
Investors |
2098438 |
6.88 |
|
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Financial Institutions/
Banks |
57909 |
0.19 |
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Insurance Companies |
3242879 |
10.63 |
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General Insurance
Corporation of India |
965000 |
3.16 |
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The New India Assurance
Company Limited |
867291 |
2.84 |
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Life Insurance
Corporation of India (Various Schemes) |
759014 |
2.49 |
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United India Insurance
Company Limited |
357980 |
1.17 |
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Sub Total B1 |
6108152 |
20.01 |
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B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
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B3) Non-Institutions |
0 |
0.00 |
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Individual share capital
upto INR 0.200 Million |
2140876 |
7.01 |
|
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Individual share capital
in excess of INR 0.200 Million |
187734 |
0.62 |
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|
NBFCs registered with RBI |
394 |
0.00 |
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Any Other (specify) |
570879 |
1.87 |
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Bodies Corporate |
491247 |
1.61 |
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Clearing Members |
32079 |
0.11 |
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Foreign Individuals |
145 |
0.00 |
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Trusts |
21896 |
0.07 |
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Investor Education and
Protection Fund Authority Ministry of Corporate Affairs |
25512 |
0.08 |
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Sub Total B3 |
2899883 |
9.50 |
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B=B1+B2+B3 |
9008035 |
29.51 |
BUSINESS DETAILS
|
Line of Business : |
Subject is manufactures and trades in products such as
diesel and gasoline fuel injection systems, automotive aftermarket products,
starters and generators, industrial equipments, packaging machines,
electrical power tools, security systems and industrial and consumer energy
products and solutions. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
8488 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
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Firm Registration
Number: : |
007567S/S-200012 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Robert Bosch GmbH, Federal Republic of Germany |
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Subsidiary Company: |
MICO Trading Private Limited, India |
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Associate (also a
fellow subsidiary) : |
Newtech Filter India Private Limited, India |
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Other related
entities: |
Bosch India Foundation |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38051460 |
Equity Shares |
INR 10/- each |
INR 381.000 Million |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30520740 |
Equity Shares |
INR 10/- each |
INR 305.000 Million |
|
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|
Rights, preferences
and restrictions attached to shares:
The Equity shares of the Company, having face value of INR 10/- per share, rank pari passu in all respects including voting rights, entitlement to dividend and share in the proceeds of winding up of the Company in proportion to the number of and amounts paid on the shares held.
(ii) Equity shares
held by the holding company and subsidiary of the holding company:
|
Particulars |
31.03.2017 |
|
|
|
Number of shares |
Amount [INR in Million] |
|
Robert Bosch GmbH, Federal Republic of Germany, the holding company |
21058705 |
211.000 |
|
Robert Bosch Engineeering and Business Solutions Private Limited, India, subsidiary of holding company |
31398900 |
314.000 |
(iii) Details of
Equity shares held by shareholders holding more than 5% of the aggregate equity
shares in the Company:
|
Particulars |
31.03.2017 |
|
|
|
Number of shares |
% of shareholding |
|
Robert Bosch GmbH, Federal Republic of Germany, the holding Company |
21058705 |
68.99% |
(iv) There are no shares reserved for issue under options and contracts/ commitments. Further, there are no shares that have been allotted during last 5 years pursuant to a contract without payment being received in cash, or by way of bonus shares.
(v) The Company has bought back 878160 shares during the year ended March 31, 2017 at buy-back price determined at INR 23000/- per share which was approved by the board of directors and shareholders of the Company. Shares bought back during the period of five years immediately preceding the reporting date:
|
Particulars |
|
31.03.2017 |
|
Number of equity shares bought back by the Company |
|
878160 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
305.000 |
314.000 |
314.000 |
|
(b) Reserves &
Surplus |
87691.000 |
95035.000 |
73156.000 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
87996.000 |
95349.000 |
73470.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
149.000 |
542.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
60.000 |
50.000 |
483.000 |
|
(d) long-term provisions |
3642.000 |
3775.000 |
4302.000 |
|
Total Non-current
Liabilities (3) |
3702.000 |
3974.000 |
5327.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
13399.000 |
13088.000 |
12066.000 |
|
(c) Other current
liabilities |
5358.000 |
5741.000 |
4435.000 |
|
(d) Short-term provisions |
7543.000 |
6176.000 |
9010.000 |
|
Total Current Liabilities
(4) |
26300.000 |
25005.000 |
25511.000 |
|
|
|
|
|
|
TOTAL |
117998.000 |
124328.000 |
104308.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13194.000 |
11487.000 |
9675.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
1.000 |
|
(iii) Capital
work-in-progress |
1289.000 |
1507.000 |
2760.000 |
|
(iv) Intangible assets
under development |
176.000 |
176.000 |
0.000 |
|
(v) Investment Properties |
1943.000 |
1786.000 |
0.000 |
|
(b) Non-current
Investments |
36409.000 |
44319.000 |
26246.000 |
|
(c) Deferred tax assets
(net) |
4676.000 |
4958.000 |
4172.000 |
|
(d) Long-term Loan and Advances |
1174.000 |
1422.000 |
2189.000 |
|
(e) Other Non-current
assets |
143.000 |
291.000 |
0.000 |
|
Total Non-Current Assets |
59004.000 |
65946.000 |
45043.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2681.000 |
0.000 |
2650.000 |
|
(b) Inventories |
11804.000 |
11915.000 |
12762.000 |
|
(c) Trade receivables |
11862.000 |
13225.000 |
11877.000 |
|
(d) Cash and cash
equivalents |
17176.000 |
18315.000 |
18960.000 |
|
(e) Short-term loans and
advances |
3205.000 |
2826.000 |
11417.000 |
|
(f) Other current assets |
12266.000 |
12101.000 |
1599.000 |
|
Total Current Assets |
58994.000 |
58382.000 |
59265.000 |
|
|
|
|
|
|
TOTAL |
117998.000 |
124328.000 |
104308.000 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
104352.000 |
97014.000 |
120855.000 |
|
|
Other Income |
6174.000 |
6036.000 |
5653.000 |
|
|
TOTAL |
110526.000 |
103050.000 |
126508.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
30070.000 |
25529.000 |
38719.000 |
|
|
Purchases of
Stock-in-Trade |
24219.000 |
23347.000 |
26520.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1197.000) |
825.000 |
(669.000) |
|
|
Employees benefits
expense |
13428.000 |
13031.000 |
16631.000 |
|
|
Other expenses |
18228.000 |
15501.000 |
19841.000 |
|
|
Other expenses |
0.000 |
0.000 |
280.000 |
|
|
TOTAL |
84748.000 |
78233.000 |
101322.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
25778.000 |
24817.000 |
25186.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
272.000 |
129.000 |
143.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
25506.000 |
24688.000 |
25043.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4562.000 |
3864.000 |
5484.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
20944.000 |
20824.000 |
19559.000 |
|
|
|
|
|
|
|
Less |
TAX |
3533.000 |
5510.000 |
6182 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
17411.000 |
15314.000 |
13377.000 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
10711.000 |
13681.000 |
|
|
Freight |
NA |
1545.000 |
1217.000 |
|
|
TOTAL EARNINGS |
NA |
12256.000 |
14898.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
12662.000 |
13820.000 |
|
|
Components, spare parts, etc. |
NA |
991.000 |
1104.000 |
|
|
Capital Goods |
NA |
1365.000 |
649.000 |
|
|
Stock-in-trade |
NA |
12285.000 |
14574.000 |
|
|
TOTAL IMPORTS |
NA |
27303.000 |
30147.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
561.00 |
488.00 |
426.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
351.000 |
567.000 |
|
Net Cash generated from operations |
21813.000 |
19623.000 |
20874.000 |
|
Net cash from operating activities |
14567.000 |
13177.000 |
13963.000 |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
31.12.2017 3rd
Quarter |
|
Unaudited |
|
|
|
|
Net Sales |
28304.400 |
28118.500 |
30719.200 |
|
Total Expenditure |
23914.100 |
23038.900 |
26243.300 |
|
PBIDT (Excl OI) |
4390.300 |
5079.600 |
4475.900 |
|
Other Income |
1295.300 |
1290.300 |
1022.600 |
|
Operating Profit |
5685.600 |
6369.900 |
5498.500 |
|
Interest |
5.100 |
0.300 |
26.600 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
5680.500 |
6369.600 |
5471.900 |
|
Depreciation |
1062.400 |
1108.100 |
1242.800 |
|
Profit Before Tax |
4618.100 |
5261.500 |
4229.100 |
|
Tax |
1592.000 |
1728.100 |
1419.000 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
3026.100 |
3533.400 |
2810.100 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
3026.100 |
3533.400 |
2810.100 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
41.49 |
49.76 |
35.87 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
8.80 |
7.34 |
10.18 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
90.09 |
97.74 |
67.51 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.18 |
2.08 |
1.97 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.76 |
1.88 |
2.03 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.22 |
0.21 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.01 |
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.30 |
0.26 |
0.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.17 |
0.14 |
0.17 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
94.77 |
192.38 |
176.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
16.68 |
15.79 |
11.07 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
14.76 |
12.32 |
12.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
19.79 |
16.06 |
18.21 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.24 |
2.33 |
2.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.79 |
1.86 |
1.82 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.75 |
0.77 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
1.59 |
3.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.24 |
2.33 |
2.32 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 20237.10/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
314.000 |
314.000 |
305.000 |
|
Reserves & Surplus |
73156.000 |
95035.000 |
87691.000 |
|
Net
worth |
73470.000 |
95349.000 |
87996.000 |
|
|
|
|
|
|
Long Term borrowings |
542.000 |
149.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
542.000 |
149.000 |
0.000 |
|
Debt/Equity
ratio |
0.007 |
0.002 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
120855.000 |
97014.000 |
104352.000 |
|
|
|
(19.727) |
7.564 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
120855.000 |
97014.000 |
104352.000 |
|
Profit |
13377.000 |
15314.000 |
17411.000 |
|
|
11.07% |
15.79% |
16.68% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
305.000 |
314.000 |
|
(b) Reserves &
Surplus |
|
87601.000 |
94954.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
87906.000 |
95268.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
149.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
60.000 |
50.000 |
|
(d) long-term provisions |
|
3642.000 |
3775.000 |
|
Total Non-current
Liabilities (3) |
|
3702.000 |
3974.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
13399.000 |
13088.000 |
|
(c) Other current
liabilities |
|
5358.000 |
5741.000 |
|
(d) Short-term provisions |
|
7543.000 |
6176.000 |
|
Total Current Liabilities
(4) |
|
26300.000 |
25005.000 |
|
|
|
|
|
|
TOTAL |
|
117908.000 |
124247.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13194.000 |
11487.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
1289.000 |
1507.000 |
|
(iv) Intangible assets
under development |
|
85.000 |
94.000 |
|
|
|
1943.000 |
1786.000 |
|
(b) Non-current
Investments |
|
36409.000 |
44319.000 |
|
(c) Deferred tax assets
(net) |
|
4676.000 |
4958.000 |
|
(d) Long-term Loan and Advances |
|
1174.000 |
1422.000 |
|
(e) Other Non-current
assets |
|
143.000 |
291.000 |
|
Total Non-Current Assets |
|
58913.000 |
65864.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
2681.000 |
0.000 |
|
(b) Inventories |
|
11804.000 |
11915.000 |
|
(c) Trade receivables |
|
11862.000 |
13225.000 |
|
(d) Cash and cash
equivalents |
|
17177.000 |
18316.000 |
|
(e) Short-term loans and
advances |
|
3205.000 |
2826.000 |
|
(f) Other current assets |
|
12266.000 |
12101.000 |
|
Total Current Assets |
|
58995.000 |
58383.000 |
|
|
|
|
|
|
TOTAL |
|
117908.000 |
124247.000 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
104352.000 |
97014.000 |
|
|
Other Income |
|
6174.000 |
6036.000 |
|
|
TOTAL |
|
110526.000 |
103050.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
30070.000 |
25529.000 |
|
|
Purchases of
Stock-in-Trade |
|
24219.000 |
23347.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(1197.000) |
825.000 |
|
|
Employees benefits
expense |
|
13428.000 |
13031.000 |
|
|
Other expenses |
|
18228.000 |
15501.000 |
|
|
TOTAL |
|
84748.000 |
78233.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
25778.000 |
24817.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
272.000 |
129.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
25506.000 |
24688.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
4562.000 |
3864.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
20944.000 |
20824.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
3542.000 |
5488.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
17402.000 |
15336.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
561.00 |
488.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION
Subject is the flagship company of Robert Bosch Company in India. Headquartered out of Bengaluru, the Company has its key manufacturing facilities in Bengaluru, Nashik, Naganathapura, Jaipur, Goa, Gangaikondan, Chennai and Bidadi. The Company has presence across automotive technology, industrial technology, consumer goods and energy and building technology. It manufactures and trades in products such as diesel and gasoline fuel injection systems, automotive aftermarket products, starters and generators, industrial equipments, packaging machines, electrical power tools, security systems and industrial and consumer energy products and solutions. The Company's shares are listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
During the year, the Company has discontinued the business relating to starters and generators products. The financial statements are approved for issue by the Company's Board of Directors on May 25, 2017.
BACKGROUND
SEBI vide Notification No. SEBI/LAD-NRO/GN/2016- 17/008 dated July 08, 2016 amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 by inserting Regulation 43A, requiring the top 500 listed entities based on the market capitalization (calculated as on March 31 of every financial year) to formulate a Dividend Distribution Policy. The Company, being one of the top 500 listed companies, has formulated this Dividend Distribution Policy.
FINANCIAL RESULTS
Attention of the members is drawn to the notification dated February 16, 2015, issued by the Ministry of Corporate Affairs relating to the Companies (Indian Accounting Standards) Rules, 2015. Pursuant to the said notification, the Company has adopted Indian Accounting Standards (Ind AS) with effect from the year. Consequently, the financial statements for the previous year (FY 15-16) have been reinstated as per Ind AS to facilitate a like-tolike comparison.
The Company does not propose to transfer any amount to its Reserves for the year.
MANAGEMENT DISCUSSION AND ANALYSIS
ECONOMIC SCENARIO
Global Economy
The global GDP was in line with expectations at around 3.1 percent. Economic activity in advanced economies and emerging economies is projected to accelerate leading to a global GDP estimate of 3.4 percent in 2017. [Source: IMF]
Among advanced economies, activity rebounded strongly in the USA during the second half of 2016 and witnessed an increase in employment numbers. The economic output remained below potential in a number of other advanced economies including the European Union. In 2016, Japan witnessed a higher than expected growth rate.
Long-term interest rates increased in advanced economies in the second half of 2016 as central banks started focusing on inflation. Crude oil and commodity prices recovered in 2016 after touching a low, on the back of strong infrastructure investment in China and on expectations of fiscal easing in the USA.
Indian Economy
GDP growth is projected to be around 7 percent for 2016-17 as compared to 7.9 percent in 2015-16. It was an eventful year and some of the key events were passage of important legislations including GST, demonetization, ban by Supreme Court on sale of BS III vehicles, etc.
Political stability provided a sound background for the Indian economy and interest rates gradually fell through the ear as growth was supported by Government’s capex spending and efficiency improvements. But weakness in the banking sector, signaled by the continuing trend of bad loans affected credit offtake. Uneven distribution of rainfall and a slight deficit could not boost agricultural output as expected.
Foreign investment in India continued to remain buoyant and capital flows ensured that the currency was stable. This was also aided by a moderate growth in exports. The effects of demonetization and the subsequent remonetization are still not clear though the economy seems to have moved beyond this uncertainty. On the monetary policy front though there were signs of growth slowing down, the central bank moved away from an accommodative stance to a neutral stance because of its commitment to an inflation-targeting framework. The broad indicators for the Indian economy like fiscal deficit, current account deficit and inflation looks to be under control. However, the pickup in growth momentum is yet to be witnessed on ground.
Industry Structure
and Development
Automotive:
In 2016-17, Passenger Vehicle production grew by 11 percent driven by improved market sentiments, favorable fuel prices, easy availability of finance, continued economic revival, increased disposable income and new launches. Heavy Commercial Vehicles (HCVs) production posted subdued growth of 2 percent impacted by lower fleet expansion, demonetization and emissionchangeover.
The Light Commercial Vehicles (LCVs) market grew by 6 percent mainly driven by infrastructure and e-Commerce growth along with increased rural demand.
The Tractor market grew by 21 percent favored by a good monsoon and positive farmer sentiments. Three-wheelers production declined by 16 percent due to muted domestic demand and weakening export demand.
Non-Automotive:
Considering the new positive thrust to the Indian infrastructure and manufacturing sectors, and a slew of government initiatives like ‘Make in India’ and ‘Skill India’, the power tool market witnessed a considerable growth. However, the do-it-yourself (DIY) segment in power tool is yet to be developed. Unlike the developed nations, the DIY segment is still at a nascent stage in the emerging markets including India.
While pockets of opportunities for growth in security technology industry exist, the space is getting competitive and price sensitive. With the advent of embedded applications in security products, surveillance is now emerging as a tool for gathering business intelligence. The addition of video analytics software to the surveillance solutions is enabling businesses to garner deeper insights into their existing operations.
As value for money continues to characterize the packaging market, packaging solutions have to be innovative and cost efficient. The packaging equipment industry continues to ride on the growth of consumer demand, aided by increasing disposable income with low inflation. Despite a growing market for packaged items, the packaging equipment industry is highly unorganized, comprising several small players, each accounting for a two to five per cent market share. With China and India together projected to account for 21 percent of the global packaging machinery demand by 2020, localization is slated to become a major driver to capture the Indian Packaging market.
The renewable energy sector in India is growing rapidly indicating strong financial prospect . Investments in solar sector are expected to surpass coal by 2019-20, with USD 35 billion committed by global players. At the end of the year , India crossed 12.2 GW of cumulative solar installations and still has a way to go to achieve the ambitious target of 100 GW by 2022. Further, India has plans to add 5 GW of rooftop solar and 10 GW from large-scale solar power projects in the current fiscal year. India has a bright opportunity to reshape its energy mix. Social and economic growth are at the top of the Government’s agenda, and new energy sources to serve this demand are increasingly coming from renewable energy.
Business and segment
wise performance
The overall performance of the Company witnessed a growth of 7.6 percent. Mobility business (Automotive) posted a growth of 5.9 percent, while the Business beyond mobility (Non-Automotive) grew by 16.8 percent. Domestic mobility business witnessed an increase of 7.4 percent, largely because of rise in sale of diesel and gasoline products, marginally higher than the automotive market growth of 7.0 percent.
The Company predominantly operates in manufacturing and
trading of mobility solutions, which constituted 85.5 percent of total sales
for the Financial Year 2016-17. The Business beyond mobility, comprising of
Industrial Technology, Consumer Goods and Energy and Building Technology, had a
share of 14.5 percent. Hence, the operating segment consists of “Mobility
Solutions” (Automotive Products) and “Business beyond mobility” (Others).
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Sales tax deferral loan |
0.000 |
149.000 |
|
Total |
0.000 |
149.000 |
|
Note: Terms of repayment for unsecured borrowings
: Borrowings Interest
free Sales tax deferral loan -
State Government of Maharashtra -
State Government of Rajasthan Terms
of repayment Repayable
in 5 equal annual installments for various schemes starting January 2009
onwards. Repayable
in 10 half-yearly equal installments starting January 2012 onwards. |
||
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the Company not acknowledged as debts: |
|
|
|
Excise/ Customs Net of tax |
0.000 |
0.000 |
|
Gross |
0.000 |
0.000 |
|
Income Tax Relates to adjustments made by the Income Tax Department for the financial year 2011-12 and 2012-13 which are disputed by the Company and the matters are lying under appeal with CIT (Appeals). |
370.000 |
85.000 |
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED
31.12.2017
(INR In Million)
|
Particulars |
Current three months ended |
Preceding three months ended |
Year to date figures for the previous
period ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
INCOME FROM OPERATIONS |
|
|
|
|
Revenue from operation |
30719.200 |
28118.500 |
87142.100 |
|
Other Income |
1022.600 |
1290.300 |
3608.200 |
|
Total
Income from Operations |
31741.800 |
29408.800 |
90750.300 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
9373.700 |
5777.600 |
21876.700 |
|
Purchase of Stock in Trade |
7243.400 |
9850.000 |
23971.100 |
|
Changes in inventories of finished goods and
work-in-progress |
(388.900) |
(124.000) |
282.500 |
|
Excise Duty |
0.000 |
0.000 |
1820.900 |
|
Employee benefits expense |
3411.900 |
3444.300 |
10267.800 |
|
Finance Costs |
26.600 |
0.300 |
32.000 |
|
Depreciation and Amortization expenses |
1242.800 |
1108.100 |
3413.300 |
|
Other Expenditure |
6603.200 |
4091.000 |
14977.300 |
|
Total
Expenses |
27512.700 |
24147.300 |
76641.60 |
|
Profit/(Loss)
from Ordinary Activities before Net Exceptional income/ (Expenditure) |
4229.100 |
5261.500 |
14108.700 |
|
Less : Exceptional income |
-- |
-- |
-- |
|
Profit
/ (Loss) before Tax |
4229.100 |
5261.500 |
14108.700 |
|
Tax Expense |
|
|
|
|
-Current Tax |
1527.700 |
1732.900 |
4760.500 |
|
-Deferred tax |
(108.700) |
(4.800) |
(21.400) |
|
Profit
/ (Loss) after Tax |
2810.100 |
3533.400 |
9369.600 |
|
Other comprehensive income (net of tax) |
187.300 |
420.300 |
1126.900 |
|
Total
comprehensive income for the period |
2997.400 |
3953.700 |
10496.500 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
305.200 |
305.200 |
305.200 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings
per Share (EPS) – INR |
|
|
|
|
Basic
EPS (in INR) |
92.10 |
115.80 |
307.00 |
|
Diluted
EPS (in INR) |
92.10 |
115.80 |
307.00 |
SEGMENT-WISE REVENUE,
RESULT, ASSETS AND LIABILITIES
(INR In Million)
|
Particulars |
Current three months ended |
Preceding three months ended |
Year to date figures for the previous
period ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Segment Revenue |
|
|
|
|
Automotive products - continuing operations |
25402.300 |
24205.100 |
74462.700 |
|
Automotive products - discontinued operation |
0.000 |
0.000 |
0.000 |
|
Others |
5686.900 |
3979.700 |
13261.500 |
|
Total segment
revenue |
31089.200 |
28184.800 |
87724.200 |
|
Less: Inter segment revenue |
370.000 |
66.300 |
582.100 |
|
Net income from
operations |
30719.200 |
28118.500 |
87142.100 |
|
|
|
|
|
|
Segment
Results |
|
|
|
|
Automotive products - continuing operations |
3261.200 |
4011.900 |
10741.500 |
|
Automotive products - discontinued operation |
0.000 |
0.000 |
0.000 |
|
Others |
1040.500 |
864.700 |
2406.100 |
|
Total segment
results |
4301.700 |
4876.600 |
13147.600 |
|
Less: Finance costs |
26.600 |
0.300 |
32.000 |
|
Less: Unallocable corporate expenditure |
1068.600 |
905.100 |
2615.100 |
|
Add: Unallocable income |
1022.600 |
1290.300 |
3608.200 |
|
Total Profit Before Tax |
4229.100 |
5261.500 |
14108.700 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Automotive products - continuing operations |
37038.700 |
38354.900 |
37038.700 |
|
Others |
6212.000 |
7869.000 |
6212.000 |
|
|
43250.700 |
46223.900 |
43250.700 |
|
Unallocable assets |
89159.900 |
80822.200 |
89159.900 |
|
Total Assets |
132410.600 |
127046.100 |
132410.600 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
Automotive products - continuing operations |
27931.200 |
27339.500 |
27931.200 |
|
Others |
5845.500 |
4728.300 |
5845.500 |
|
|
33776.700 |
32067.800 |
33776.700 |
|
Unallocable liabilities |
3446.700 |
2788.500 |
3446.700 |
|
Total Liabilities |
37223.400 |
34856.300 |
37223.400 |
NOTES:
- The above statements were reviewed by the Audit Committee and approved by the Board at their meeting held on February 5, 2018. The standalone results for the quarter and nine months ended December 31, 2017 have been subject to limited review by the statutory auditors of the Company. Amounts for quarter ended December 31, 2016, quarter and nine months ended December 31, 2016 and year ended March 31, 2017 were reviewed/ audited by previous statutory auditors - Price Waterhouse and Co Bangalore LLP.
- During the previous year/ periods, consequent to the approvals received from the Board of Directors on February 5, 2016 and from the shareholders on April 4, 2016, the Company executed a Business Transfer Agreement on August 1, 2016 and sold/ transferred the business of Starter Motors and Generators under the automotive products segment of the Company on a going concern basis by way of Slump sale to Robert Bosch Starter Motors Generators India Private Limited, a fellow subsidiary. Gain on sale of business amounting to INR 3971.000 Million is recognised and disclosed under discontinued operation in the above result during the financial year ended March 31, 2017.
- The Government of India introduced the Goods and Services Tax (GST) with effect from July 01, 2017. GST is collected on behalf of the Government and no economic benefit flows to the entity, consequently revenue for the quarter ended September 30, 2017 and December 31, 2017 is presented net of GST.
- Figures for the previous period have been regrouped, wherever necessary to conform to the current period's classification.
FIXED ASSETS:
·
Land – Freehold
·
Land – Leasehold
·
Buildings - R & D
·
Plant and machinery
·
Office equipment
·
Furniture and fixtures
·
Vehicles
WEBSITE DETAILS
PRESS RELEASE/ NEWS
BOSCH IS PUTTING
ELECTROMOBILITY ON INDIAN STREETS
READY TO OFFER PORTFOLIO OF ELECTRIFIED SOLUTIONS FOR THE LOCAL MARKET
2017-09-01 | India |
Corporate News
·
Bosch plans to move into first series production in Indian market after
2018
·
Bosch India will provide the end-to-end electrified solutions adapted to
the Indian market
·
Bosch offers wide range of comprehensive solutions for two-wheelers
·
Bosch Limited will increase the regional competence for electrified
solutions
·
Bosch Asia Pacific board member: “India a great incubator for an
electric future"
Bengaluru – Over 40 Indian cities
are home to more than a million residents. With mobility requirements at its
greatest in urban sprawls, Bosch foresees electrification as a future growth
area in India. The company is ready to offer its portfolio of electrified
solutions for the local market. “Small-vehicle segments will drive the
transition to mass electrification, as urban dwellers seek a simple and
affordable alternative to conventional standards,” stated Mr. Peter Tyroller,
member of the board of management of the Bosch Group responsible for Asia
Pacific. The company’s range of electrified solutions aims to address India’s
individual mobility requirements. Despite the focus on electromobility as a
long-term alternative, internal combustion engines will still play a major role
in the near future – the powertrain of the future will be a mix of
electromobility and combustion engines.
Electromobility offers
competitive edge for Bosch in India
“Today, the Indian supplier base
is fragmented for electromobility solutions. With the current powertrain
offerings from Bosch India, the company is aiming to bridge this gap and have
the first mover advantage,” remarked Mr. Tyroller. Bosch India will draw upon
its global lineage to offer local customers the complete value chain of
offerings with respect to electromobility. Currently, the company is in
advanced stages of development and plans to move into series production after
2018.
The Central Government’s
initiative with the target to have an all-electric fleet in India by 2030 as
well as the Faster Adoption and Manufacturing of (Hybrid &) Electric
Vehicles (FAME) program offer Bosch a competitive edge. The company provides
customized solutions to be able to contribute in achieving this impending
target, given the necessary infrastructure is being set in place. Bosch has
developed an integrated electrification system including motor, control unit,
battery, charger, display, and app that can power light two-, three- and
four-wheel electric vehicles.
Setting the baseline for
future technology in India
Following its localization
strategy, Bosch aims to develop a comprehensive electrification system for
India, which takes the country’s environmental conditions and powertrain
requirements into account. In a pilot project, the powertrain system was
integrated to define the adaptations required in order to create a powertrain
platform specifically tailored to the India market.
“There are a lot of vehicles in
the Indian automotive market right now that have the scope to be electrified.
This makes India a great incubator for an electric future,” said, Mr. Tyroller.
The electrification systems from Bosch can easily be integrated with any light
vehicle. This helps the manufacturers with their go-to-market strategy. The
solution has been made scalable across all performance classes between 0.25-20
kW. This electrified solution delivers high performance even under challenging
circumstances. The team at Bosch India has been working on this solution since
2016, and worked on areas such as prototype development and system integration.
Electric two-wheelers can
resolve last mile connectivity concerns
Two-wheelers have been the
lifeline of India’s transportation network. According to a study around 1.2
million electric two-wheelers are set to hit the local market by 2020. The
demand for electromobility has grown substantially over the past few years.
Bosch offers the full-line of solutions required to meet the needs of the
Indian two-wheeler market. Its technology is adaptable to meet the demands of
the performance segment. “We see particular potential for electromobility in
India first across the scooter segment,” mentioned Mr. Tyroller.
Electromobility will play an important role in meeting the requirements of
intra-city travel. “Even from the perspective of economics, an electric scooter
will be more relevant for a person looking to run some household errands in and
around his society,” he stated. Other added advantages include less maintenance
requirement, and a noise-free vehicle.
Pre-requisite to
electromobility is shared and connected mobility
The shared economy of today is
especially relevant among its young urban audience who clearly prefer simple
and stress-free mobility. Electromobility will therefore likely gain ground in
the years to come via fleet operators. Considering the positive intent of all
stakeholders towards electromobility, Bosch Limited will look to increase the
extent of localization of its electrified portfolio in India.
About Bosch Group
The
Bosch Group is a leading global supplier of technology and services. It employs
roughly 389,000 associates worldwide (as of December 31, 2016). According to
preliminary figures, the company generated sales of 73.1 billion euros in 2016.
Its operations are divided into four business sectors: Mobility Solutions,
Industrial Technology, Consumer Goods, and Energy and Building Technology. As a
leading Iot company, Bosch offers innovative solutions for smart homes, smart
cities, connected mobility, and connected industry. It uses its expertise in
sensor technology, software, and services, as well as its own Iot cloud, to
offer its custom-ers connected, cross-domain solutions from a single source.
The Bosch Group’s strategic objective is to deliver innovations for a connected
life. Bosch improves quality of life worldwide with products and services that
are innovative and spark enthusiasm. In short, Bosch creates technology that is
“Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its
roughly 450 subsidiaries and regional companies in some 60 countries. Including
sales and service partners, Bosch’s global manufacturing, engineering, and
sales network covers near-ly every country in the world. The basis for the
company’s future growth is its innovative strength. At 120 locations across the
globe, Bosch employs 59000 associates in research and development.
About Bosch in India
In India, Bosch is a leading supplier
of technology and services in the areas of Mobility Solutions, Industrial Technology,
Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in
India the largest development centre outside Germany, for end to end
engineering and technology solutions. The Bosch Group operates in India through
twelve companies, viz, Bosch Limited, Bosch Chassis Systems India Private
Limited, Bosch Rexroth India Private Limited, Robert Bosch Engineering and
Business Solutions Private Limited, Bosch Automotive Electronics India Private
Limited, Bosch Electrical Drives India Private Limited, BSH Home Appliances
Private Limited, ETAS Automotive India Private Limited, Robert Bosch Automotive
Steering India Private Limited, Automotive Services and Solutions Private
Limited, New Tech Filters India Private Limited and Mivin Engineering Technologies
Private Limited. In India, Bosch set-up its manufacturing operation in 1951,
which has grown over the years to include 18 manufacturing sites, and seven
development and application centers. Bosch Group in India employs over 31000
associates and generated consolidated revenue of about INR 183000.000 million
(1.8 billion euros)* in 2016 of which ₨. 129500.000 million* from third
par-ty. The Group in India has close to 18500 research and development
associates.
In India, Bosch
Limited is the flagship company of the Bosch Group. It earned revenue of over ₨.
10,500 crores in 2016.
BEHIND THE
NOKIA–BOSCH DEAL
OCTOBER 24, 2017
Collaboration around
industrial IoT
Finland-based Nokia (NOK) and Germany-based (EWJ) Bosch Connected Devices recently announced a strategic partnership connected to industrial IoT (Internet of Things) solutions.
Under the collaboration, Nokia would provide the IoT cloud platform and IoT connectivity services while Bosch provides smart sensors. The companies said that their collaboration would allow for easier and faster development of solutions for large logistics providers, operators, and other industrial players.
Commercial rollout likely in early 2018
The Nokia–Bosch partnership would initially work on solutions for asset tracking, predictive maintenance, and environmental monitoring. Trials of the solutions are underway in Europe (EFA), the Middle East, and Africa, with a commercial rollout of the solutions expected in early 2018.
The bigger picture of the Nokia–Bosch industrial IoT partnership is to enable enterprises and communications service providers to more easily implement industrial IoT solutions. Companies are drawn to industrial IoT by benefits such as the ability to improve productivity, enhance operational efficiency, and reduce process complexities. As a result, the industrial IoT market is growing rapidly.
Opportunity to grow and diversify revenue sources
According to Grand View Research, the global industrial IoT market was worth more than $100 billion in 2016. The market is expected to expand at an average annual rate 27.8% over the next decade to reach $933.6 billion by 2025.
A breakthrough in the multibillion-dollar industrial IoT market could provide a compelling opportunity for revenue growth and revenue diversification for Nokia. The company has traditionally looked to telecom equipment sales for the majority of its revenues.
As the 4G network rollout has reached peak levels in markets like the US (SPY) and with the commercial 5G network rollout still years out, Nokia has struggled with limited growth opportunity in its core market. Nokia hopes its partnership with Bosch would give it an edge against rival Ericsson (ERIC) as they pursue growth outside their traditional telecom equipment market.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·