Bosch India revenues cross Rs. 11,000 crore in 2011

German automation giant - Bosch, set up its manufacturing operations in India in 1953, which has grown over the years to include as many as 13 manufacturing sites and seven development and application centres. Additionally, Bosch also has in India, the largest development centre outside Germany for end engineering and technology solutions.

Generating a consolidated revenue of over Rs. 11,000 crore in 2011, Bosch Limited announced the company’s financial results - V. K. Viswanathan, Managing Director, Bosch, said, “Despite rising interest rates and fuel prices, we witnessed improved demand in certain sectors of the automotive industry such as tractors and light commercial vehicles. At Bosch, we have been successful in catering to the demands of these segments. With consistent growth in aftermarket and power tool businesses, we have been able to register a robust growth of about 20 percent in the year 2011.”

Commenting further on capital expenditure, Viswanathan added, “We are confident of a slow but steady rebound in the economy leading to an improvement in the automotive sector. Bosch is geared to capitalise on this opportunity and serve all market segments with innovative product offerings and solutions. We have invested nearly Rs 660 crore in 2011 for capacity expansion and other activities in India.”

Bosch’s export business grew overall by an impressive 22.3 percent to cross the 1,000 crore mark backed by a strong demand from export markets in Germany, China, Brazil and Korea. In view of the company’s strong results, the board of directors has recommended a higher dividend of Rs. 50 per share as against Rs. 40 per share announced for the year 2010. This will be over and above the one time special dividend of Rs. 85 per share paid in June 2011.

In his concluding remarks, Viswanathan said that "Bosch is strongly committed to India not only to the technology and manufacturing front but also in the areas of corporate social responsibility (CSR). Bosch is engaged in a variety of CSR activities ranging from adoption of schools in remote areas, healthcare, environment protection & awareness, flood & earthquake relief, and futuristic scientific research program with Indian Institute of Science, Bangalore, among many others."