8 BOSCH

Bosch Limited
Post Box No:3000
Corporate Relationship Department The Manager Hosur Road, Adugodi
BSE Limited Listing Department Bangalore·S60030
1st Floor, New Trading Ring National Stock Exchange of India Ltd. Karnataka, India
Rotunda Building Exchange Plaza, C-1 , Block G Tel +91 80 6752-3878
Phiroze Jeejeebhoy Towers Bandra-Kurla Complex www.bosch.in
Dalal Street, Fort Sandra (E) L85110KA1951PLC000761
Mumbai - 400 001 Mumbai - 400 051 [email protected]
Scrip code:500530 Scrip code: BOSCHLTD
31.07.2023

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 and 33 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 - Outcome of Board Meeting

This is to inform you that the Board of Directors of Bosch Limited (the "Company") at its meeting held
today i.e., July 31, 2023, has, inter-alia, approved the Unaudited Standalone & Consolidated financial
,· results for the quarter ended June 30, 2023. The copy of financial results, Limited Review Report with
qualified conclusion along with the Press Release are enclosed.

The Auditors have qualified their report on the Unaudited Financial Results (Standalone and
Consolidated) for the quarter ended June 30, 2023. The approved financial results were signed by Mr.
Guruprasad Mudlapur, Managing Director of the Company.

The Board Meeting commenced at L~:Q:2hrs. and concluded at l.~:1{lhrs (1ST)

Thanking you,

Yours Sincerely,
for Bosch Limited,
()
J 0...,..
\l ~P•J\•J
V Srinivasan
Company Secretary & Compliance Officer

Encl: A/a

Registered Office: Bosch Limited, Hosur Road, Bangalore-560030, Karnataka, India

Managing Director: Guruprasad Mudlapur ; Joint Managing Director : Sandeep Nelamangala
 12th Floor
S.R. BATL/801 & ASSOCIATES LLP "UB City" Canberra Block
No. 24, Vittal Mallya Road
Chartered Accountants
Bengaluru · 560001, India
Tel : +91 80 6648 9000

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results
of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

Review Report to
The Board of Directors
Bosch Limited

I. We have reviewed the accompanying statement of unaudited standalone financial results of

Bosch Limited (the " Company" ) for the quarter ended June 30, 2023 (the " Statement") attached
herewith , being submitted by the Company pursuant to the requirements of Regulation 33 of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 , as amended
(the "Listing Regulations").

2. The Company' s Management is responsible for the preparation of the Statement in accordance
with the recognition and measurement principles laid down in Indian Accounting Standard 34,
(Ind AS 34) " Interim Financial Reporting" prescribed under Section 133 of the Companies Act,
2013 as amended, read with relevant rules issued thereunder and other accounting principles
generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.
The Statement has been approved by the Company's Board of Directors. Our responsibility is
to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 24 l 0, "Review of Interim Financial Information Performed by the
Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India.
This standard requires that we plan and perform the review to obtain moderate assurance as to
whether the Statement is free of material mi sstatement. A review of interim financial
information cons ists of making inquiries, primarily of persons responsible for financial and
accounting matters, and applying analytical and other review procedures. A review is
substantially less in scope than an audit conducted in accordance with Standards on Auditing
and consequently does not enable us to obtain assurance that we would become aware of all
significant matters that might be identified in an audit. Accordingly, we do not express an audit
op1111on.

4. As disclosed in note 6 to the accompanying unaudited standalone financial results, the

Company has not obtained prior approval from its shareholders as required under the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect ofrelated party
transactions of Rs 11 ,999 Million. Pending final outcome of the Company' s actions as more
fully disclosed in the said note, we are unable to comment on the possible consequential effects
thereof.

The opinion expressed by us on the standalone financial statements of the Company for the
year ended March 31 , 2023 vide our report dated May l 0, 2023 , was also qualified in respect
of the above matter.

S.R Bathbo1 & Assocratcs LLP. a Lirniled l1ab1l1ty Partnership with LLP Identity No. AA8·4295
Reqd Office· 22. Camac Street. Block 'B', 3rd rtoor, Kolkata-700 016
S.R. BATL/80/ & ASSOCIATES LLP
Chartered Accountants

5. Based on our review conducted as above , except for the possible effects of the matter described
in paragraph 4, nothing has come to our attention that causes us to believe that the
accompanying Statement, prepared in accordance with the recogn ition and measurement
principles laid down in the aforesaid Indian Accounting Standards ('Incl AS ' ) specified under
Section 133 of the Companies Act, 2013 as amended, read with relevant rules iss ued thereunder
and other accounting principles generally accepted in India, has not disclosed the information
required to be disclosed in terms of the Listing Regulations, including the manner in which it
is to be disclosed, or that it contains any material misstatement.

6. The comparative financial information of the Company for the corresponding quarter
ended June 30, 2022, included in these financial results, were reviewed by the predecessor
auditor, who expressed an unmodified conclusion on those financial information on August 02,
2022.

For S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accoun ants
ICAI Firm r stration number: IO I 049W/E300004

rtner
Membership No.: 209567

UDIN: 23209567BGXWAC2752

Place: Bengaluru
Date: July 3 I, 2023
S.R. BATLIBOI & ASSOCIATES LLP 12th Floor
"UB City" Ca nbe rra Bloc k
No. 24 , V1t tal Ma ll ya Road
Chartered Accountants
Bengalu r u · 560 001. India
Te l : +91 BO 6648 9000

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial

Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended

Review Report to
The Board of Directors
Bosch Limited

I. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of

Bosc h Limited (the " Ho ldin g Company") and its subs idiari es (the Holding Company and its
subsidiaries together referred to as "the Group"), its associates and jointly controlled entity for the
quarter ended June 30, 2023 (the "Statement") attached herewith , being submitted by the Holding
Company pursuant to the requirem ents of Regulation 33 of the SEBI (Listin g Obli gations and
Di sc losure Requirements) Regulations, 2015 , as amend ed (the "Listing Regulation s").

2. Th e Holdin g Company 's Manage ment is respons ible for the preparation of the Statement in
accordance with the recognition and measurement principles laid down in Indian Accounting
Standard 34, (Incl AS 34) " Interim Financial Reporting" prescribed under Section 133 of the
Companies Act, 2013 as amended, read with relevant rules issued thereunder and o ther accounting
principles generally accepted in India and in compliance with Regulation 33 of the Li sting
Regulation s. The Statement has been approved by the Holding Company's Board of Directors. Our
responsibility is to express a conclusion on the Statement based on our review.

3. We conducted o ur review of the Statement in accordance with the Standard o n Review

Engagements (S RE) 2410, ''Rev iew oflnterim Financial Information Perfonned by the Ind ependent
Auditor of the Entity" iss ued by the In stitute of C hartered Accountants of India. Thi s stand ard
requires that we plan and pe rform the revi ew to obtain m oderate assurance as to whether the
Statement is free of mate rial mi sstatement. A revi ew of inte rim financial information consists of
making inquiri es, primarily of perso ns respo nsibl e for financial and accounting matters, and
applying anal ytical and other rev iew procedures. A rev iew is substantially less in sco pe than an
audit conducted in accordance with Standards o n Auditing and consequently does not enable us to
o bta in assuranc e that we wo uld beco me aware of a ll sig nifi ca nt matters that mi ght be id entifi ed in
an a udit. Accordingly, we do not express an a udit o pini o n.

We a lso perform ed proced ures in accordance w ith the C ircular No.CIR/CFD/CMDl/44/2019 dated
March 29, 2019 iss ued by th e Sec uriti es and Exchan ge Boa rd of India under Regulati o n 33(8) of
th e Li stin g Reg ulati ons, to the extent a pplicabl e.

4. The Stateme nt includ es the results of the following entiti es:

a) Bosch Limited (Holding Company or Pare nt)
b) MICO Tradin g Private Limited (Subsidiary)
c) Ro bert Bosch Indi a Manufacturing and Technology Pri vate Limited (Subsidiary)
cl) A utoz ill a So luti o ns Private Limited (Associate)
e) Newtec h Filter Indi a Private Limited (A ssoc iate)
t) Prebo A utomotive Pri vate Limited (Jo intly Co ntroll ed Entity)

S.R Bathbo1& Associates LLP. a L1m1ted Liab1l1ty Partnership with LLP Identity No AAB-4295
Regd Office· 22. Camac Sire('!, Block 'B'. )rct noor, Kolkata-700016
S.R. BATLIBOI & ASSOCIATES LLP
Charte red Acc ount ants

5. As di sc losed in note 6 to the accompany in g Unaudited Co nso lid ated financial results, the Ho ldin g
Company has not obta ined pri o r approva l from its shareho ld ers as required und er th e SEB I (L ist in g
Ob li gations and Disc los ure Requirements) Regulations, 20 15 in res pect ofrelated party transactions
of Rs 11 ,999 Million. Pending final outcom e of th e Ho lding Company ' s actions as more fully
disclosed in the sa id note, we are unable to comm ent o n the poss ibl e consequential effects thereof.

The opini o n expressed by us on the co nso lidated financial statem ents of the Co mpany for the year
e nd ed March 3 1, 2023 vide our report dated May 10, 2023 , was also qualifi ed in respect of the
above matter.

6. Based o n o ur review conducted and procedures performed as stated in paragraph 3 above, except
fo r the poss ibl e effects of the matter described in paragraph 5, nothing has come to o ur atte nti o n
that causes us to be lieve that the accompanying State ment, prepared in accordance with recognition
and meas urement principles laid dow n in the afo resaid Indi an Accounting Standard s (' Ind AS')
spec ified under Section 133 of the Compani es Act, 20 13, as amended, read with re levant rul es
issued thereunder and other accountin g principles generally accepted inf ndi a, has not di sc losed the
infor mati o n required to be disclosed in terms of the Listing Regu lati o ns, inc luding the manner in
which it is to be di sc losed, o r that it contains any material mi sstatem ent.

7. The accompany in g Statement includes the un audited interim financial results and other unaudited
financia l info rmati on, in respect of:
• two subsi dia ri es, whose unaudited interim fina ncial res ults include total income of Rs. 0.0 I
milli on, total net profit/(loss) afte r tax of Rs. ( I) millio n and total comprehensive
incom e/(l oss) of Rs. ( I) mi lli o n, fo r the qua1ter ended June 30, 2023 .
• two assoc iates and o ne j o intly controll ed entity, whose unaudited interim financia l results
includ e Gro up ' s share of net profit of R s. 4 million and Gro up ' s share of total comprehensive
inco me of Rs. 4 mi llio n for the quaiter ended June 30, 2023 .

T he una udited interim financial resu lts and other unaudited financial info rmati on of these
subsidiari es, assoc iates and j o intly contro lled entity have not been audited/reviewed by their
audito rs and have been approved and furni shed to us by the Management and o ur conclusion on the
State me nt, in so far as it re late s to the affairs of these sub sidiari es, assoc iates and jointly controll ed
entity, is based so le ly on suc h un audi ted interim financia l res ults and other un aud ited financial
in format io n. Accord in g to th e in fo rm at io n and exp lanatio ns g ive n to us by the Manageme nt, these
interim financial res ults and other un audi ted financial infor mati on are not mater ial to the Group.

Our conc lu sion on the Statement in res pect of matters stated in paragraph 7 above is not modifi ed
w ith respect to our reliance on the un a udited interim financia l results and oth er unaudited financial
in fo rm ati o n ce1tified by the Management.
S.R. BATL/801 & ASSOCIATES LLP
Chartered Accountants

8. The comparative financial information of th e Group, its assoc iate entiti es a nd j o intly controlled
entity for the correspondin g quarter ended Jun e 30, 2022, included in these conso lidated financial
re sults, were audited by predecessor auditor who expressed an unm od ifi ed conclusion on those
consolidated finan c ial information on August 02, 2022.

For S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accou ants
ICAI Firm i: btstration number: 10l049W/ E300004

Paitner
Membership No.: 209567

UDIN: 23209567BGXWAB8284
Place: Bengaluru
Date: July 31 , 2023
 Bosch Limited
Registered office : Hosur Road, Adugodi, Bengaluru- 560 030
Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 80 67524938
CIN: L85110KA1951PLC000761

Statement of Unaudited Standalone Financial Results for the quarter ended June 30, 2023

[Rs. in Millions (Mio INR)]

Current Preceding three Corresponding
Year ended
three months ended months ended three months ended
Particulars June 30, 2023 March 31, 2023 June 30, 2022 March 31, 2023

Audited
(Unaudited) (Unaudited) Audited
(refer note 3)
1 Income
(a) Revenue from operations 41 ,584 40,634 35,444 149,293

(b) Other Income 1,875 1,359 566 4,734

Total Income (a+b) 43,459 4 1,993 36,010 154,027

2 Expenses
(a) Cost of raw material and components 8,829 8,791 7.249 32,691
consumed
(b) Purchase of traded goods 17.487 18.951 15,602 63.334
(c) (Increase) / decrease in inventories of 518 (1,747) 62 (1,397)
finished goods. work-in-progress and
traded goods
(d) Employee benefits expense 3,094 3,281 2,702 11,459
(e) Finance costs 308 46 36 121
(f) Depreciation and amortisation expense 921 1,206 648 3,856

(g) Other expenses 6.977 6,134 5,334 25.139

Total expenses 38,134 36,662 31,633 135,203

3 Profit before tax (1 - 2) 5,325 5,331 4,377 18,824

4 Current tax expense/ (credit)

(i) for the period/ year 1,189 1.178 987 4,215
(ii) relating to earlier years 62 123
Deferred tax charge/ (credit) 46 101 48 241
Total tax expense/ (credit) 1,235 1,341 1,035 4,579

5 Net Profit for the period/ year (3 - 4) 4,090 3,990 3,342 14,245

6 Other comprehensive income

Items that will not be reclassified to
Statement of Profit and Loss
Changes in fair value of equity instruments 835 (74) (849) 1,213
Income tax effect (96) 8 97 (139)
Remeasurement gains/ (losses) on (158) 22
defined benefit plans
Income tax effect 40 (6)
Other comprehensive income/ (loss) 739 (184) (752) 1,090
(Net of tax)

7 Total comprehensive income for the 4,829 3,806 2,590 15,335

period/ year (5 + 6) (net of tax)

8 Paid-up equity share capital (Face value of 295 295 295 295
Rs 101- each)
 Bosch Limited
Registered office : Hosur Road, Adugodi, Bengaluru- 560 030
Website: www.bosch .in, e-mail ID: [email protected], Tel: +91 80 67524938
CIN: L85110KA1951PLC000761

Notes to Unaudited Standalone Financial Results for the quarter ended June 30, 2023

Note 1 - Standalone Segment wise Revenue, Results, Assets and Liabilities

[ Rs. in Millions (Mio INR)]
Current
Preceding three Corresponding three
three months Year ended
months ended months ended
Particulars ended

June 30, 2023 March 31, 2023 June 30, 2022 March 31, 2023

Audited
(Unaudited) (Unaudited) Audited
(refer note 3)
Segment revenue
- Automotive products 36,232 34,165 31 ,092 129,161
- Consumer Goods 3,754 4,757 3,188 14,034
- Others 1,670 1,927 1,200 6,753
Total segment revenue 41,656 40,849 35,480 149,948
Less: Inter segment revenue 72 215 36 655
Net income from operations 41 ,584 40,634 35,444 149,293

Segment results
- Automotive products 3,965 4,143 4,222 15,812
- Consumer Goods 581 422 186 1,156
- Others 306 408 245 1,290
Total segment results 4,852 4,973 4,653 18,258
Less: Finance costs 308 46 36 121
Less : Unallocable corporate expenditure 1,045 940 806 3,932
Add : Unallocable income 1,826 1,344 566 4,619
Total Profit before tax 5,325 5,331 4,377 18,824

Segm ent assets

- Automotive products 49,021 49,542 44,042 49,542
- Consumer Goods 3,995 4,154 4,272 4,154
- Others 7,336 7,779 4,098 7,779
60,352 61,475 52,412 61,475
- Unallocable assets 103,368 101,119 109,616 101,119
Total assets 163,720 162,594 162,028 162,594

Segment Liabilities
- Automotive products 41 ,809 44,047 42,767 44,047
- Consumer Goods 2,745 3,617 4,113 3,617
- Others 1,138 1.136 2,270 1.136
45,692 48,800 49,150 48,800
- Unallocable liabilities 3,073 3,672 3.407 3,672
Total liabilities 48,765 52,472 52,557 52,472
 Bosch Limited
Registered office : Hosur Road, Adugodi, Bengaluru- 560 030
Website: www.bosch.in, e-mail ID: [email protected] .com , Tel: +91 80 67524938
CIN: L85110KA1951PLC000761

Notes

Note 2 The above unaudited standalone financial resu lts were reviewed by the Audit Committee. The above unaudited standalone financial
results were approved by the Board of Directors at their meeting held on July 31 . 2023. The limited review, as required under
Reg ulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. has been completed by the Statutory
Aud itors for the quarter ended June 30. 2023 and they have issued qualified conclusion on the aforesaid results with respect to the
matter detailed in Note 6 of these results.

Note 3 The figures for the quarter ended March 31 , 2023 are the derived figures between the audited figures in respect of the full financial year
ended March 31 . 2023 and the unaudited published year to date figures up to December 31. 2022. being the date of end of the third
quarter of the financial year which was subjected to limited review.

Note 4 The Code on Social Security. 2020 ("the Code") which would impact the employee benefits and post-employment benefits has received
Presidential assent in September 2020. However, the date from which the Code will come into effect has not been notified. The
Company will complete its evaluation and will give appropriate impact in its standalone financial results in the period in which the Code
becomes effective.

Note 5 Pursuant to the approval of the Board of Directors of the Company on May 26. 2023, the Company has entered in to a Business
Transfer Agreement dated June 9, 2023 with Automobility Service Solutions Private Limited ('the Purchaser") for transfer of its "Project
House Mobility Solutions" (Specified Business) for a consideration of Rs. 6,972 Million. The transfer of business was completed on July
01, 2023 and accordingly. the Company has not considered the impact of transfer in its quarterly results of the period ended June 30,
2023.
The Company believes that the Specified Business does not get qualified as a separate major line of Business under "IND AS 105.
Non Current Assets held for Sale and Discontinued Operations" and accordingly has not considered the same as a "discontinued
operation" for the purpose of these unaudited standalone financial res ults.

Note 6 Regulation 23(4) of SEBI (Listing Obligations and Disclosure Requirements) Regu lations. 2015 ('SEBI LODR"). require a company to
obtain prior approval of material related party transaction as defined in the SEBI LODR from its shareholders. During the year ended
March 31, 2023, the Company had entered into related party transactions with Bosch Automotive Electronics India Private Limited. a
fellow subsidiary, aggregating to Rs. 11.999 Million which requires prior approval of shareholders as per SEBI LODR. However, such
prior approval was not obtained in respect of these related party transactions.

The Company has initiated the process of obtaining post facto approval from its shareholders in the ensuing Annual General Meeting to
be held on August 01, 2023 for ratification of such related party transactions and to settle the contravention of aforesaid SEBI
Regulations under the SEBI (Settlement Proceedings) Regulations, 2018. Accordingly, the management continues to account for the
aforesaid re lated party transactions. Pending final outcome of the above matters no adjustment has been made to the financial results
in this regard.

Note 7 The comparative financial information of the Company for the corresponding quarter ended June 30. 2022 included in these unaudited
standalone financial results, were reviewed by the predecessor auditor who expressed an unmodified conclusion on those financial
information on August 02. 2022.

Note 8 Previous quarter/ year figures have been regrouped to conform with the classification adopted in these standalone fin ancial results.

For and on behalf of the Board of

Directors of Bosch Limited

Place : Bengaluru (Guruprasad Mudlapur)

Date : July 31. 2023 Managing Director
 Bosch Limited
Registered office : Hosur Road, Adugodi, Bengaluru- 560 030
Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 80 67524938
CIN: L85110KA 1951 PLC000761

Statement of Unaudited Consolidated Financial Results for t he quarter ended June 30, 2023

[Rs in Millions (Mio INR)]

Cu rrent Corresponding
Preceding t h ree
t hree mont hs three mont hs Year ended
mont hs ended
ended ended
Particulars
June 30, 2023 March 31, 2023 June 30, 2022 March 31, 2023
Audited
(U naudited) (Unaudited) Audited
(refer note 3)
1 Income
(a) Revenue from operations 41,584 40,634 35.444 149,293
(b) Other Income 1,874 1,358 566 4, 732
Total Income (a+b) 43,458 41,992 36,010 154,025
2 Expenses
(a) Cost of raw material and components consumed 8,829 8,791 7,249 32,691
(b) Purchase of traded goods 17,487 18,951 15,602 63,334
(c) (Increase)/ decrease in inventories of finished goods,
work-in-progress and traded goods
518 (1,747) 62 (1,397)
(d) Employee benefits expense 3,094 3,281 2,702 11.459
(e) Finance costs 308 46 36 121
(f) Depreciation and amonisation expense 921 1,206 648 3,856
(g) Other expenses 6.977 6,134 5,335 25,139
Total expenses 38,134 36,662 31,634 135,203

3 Profit before tax (1 - 2) 5,324 5,330 4,376 18,822

4 Current tax expense/ (credit)
(i) for lhe period/ year 1.189 1,178 987 4.215
(ii) relating to earlier years - 62 - 123
Deferred tax charge/ (credit) 46 101 48 241
Total tax expense/ (credit) 1,235 1,341 1,035 4,579
5 Net profit for the period/ year (3 - 4) 4,089 3,989 3,341 14,243
Share of net profit/(loss) of associates and Jointly
6 controlled entity accounted for using equity method (net 4 (8) 0 12
of tax)

Net profit after taxes and share of profit/ (loss) of

7 4,093 3,981 3,341 14,255
Associate and Jointly controlled entlty (5 + 6)

8 Other comprehensive income

Items that w ill not be reclassified to Statement of
Profit and Loss
Cha nges in fair value of equity instruments 835 (74) (849) 1,213
Income tax effect (96) 8 97 (139)
Remeasurement gains/ (losses) on defined benefit plans
- (158) - 22
Income tax effect - 39 (6)
Other comprehensive income/ (loss) (Net of tax) 739 (185) (752) 1,090
Total comprehensive incom e for the period/ year
.9 4,832 3,796 2,589 15,345
(7 + 8) (Net of tax)
Paid-up equity share capital (Face value of Rs 10/-
10 295 295 295 295
each)

11 Other equity as per balance sheet 109,756

Earnings per share (of Rs 10/- each) (weighted average)
12
(a) Basic 138.79 134.99 113.30 483.32
(b) Diluted 138.79 134.99 113.30 483.32
 Bosch Limited
Registered office : Hosur Road, Adugodi, Bengaluru- 560 030
Website: www.bosch.in, e-mail 10: [email protected]. Tel: +91 80 67524938
CIN: L85110KA1951PLC000761

Notes to Unaudited Consolidated Financial Results for the quarter ended J une 30, 2023

Note 1 • Consolidated Segment wise Revenue, Results, Assets and Liabilities

[Rs. in Millions (Mio INR)]

Current
Preceding three Corresponding
three months Year ended
months ended three months ended
Particulars ended

June 30, 2023 March 31 , 2023 June 30, 2022 March 31, 2023

Audited
(Unaudited) (Unaudited) Audited
(refer note 3)
Segment Revenue
- Automotive products 36.232 34,165 31,092 129,161
- Consumer Goods 3.754 4,757 3,188 14,034
- Others 1,670 1,927 1,200 6,753
Total segment revenue 41,656 40,849 35,480 149,948
Less: Inter segment revenue 72 215 36 655
Net income from operations 41,584 40,634 35,444 149,293

Segment Results
• Automotive products 3,965 4,143 4,222 15,812
- Consumer Goods 581 422 186 1,1 56
- Others 306 408 245 1,290
Total segment results 4,852 4,973 4,653 18,258
Less: Finance costs 308 46 36 121
Less : Unallocable corporate expenditure 1,045 940 806 3,932
Add : Unallocable income 1,825 1,343 565 4.617
Total Profit/ (loss) before tax 5,324 5,330 4,376 18,822

Segment Assets
- Automotive products 49,021 49,540 44,042 49,540
- Consumer Goods 3,995 4,154 4,272 4,154
- Others 7,336 7,779 4,098 7,779
60,352 61,473 52,412 61,473
- Unallocable Assets 103.302 101,050 109,536 101,050
Total Assets 163,654 162,523 161,948 162,523

Segment Liabilities
- Automotive products 41,809 44,047 42,767 44,047
• Consumer Goods 2,745 3,617 4 ,113 3,6 17
• Others 1,138 1,136 2,270 1,136
45,692 48,800 49,150 48,800
- Unallocable Liabilities 3,074 3,672 3.408 3,672
Total Liabilities 48,766 52,472 52,558 52,472
 Bosch Limited
Registered office : Hosur Road, Adugodi, Bengaluru- 560 030
Website: www.bosch.in, e-mail ID: [email protected], Tel: +91 80 67524938
CIN: L85110KA1951PLC000761

Notes
Note 2 The above unaudited consolidated financial results were reviewed by the Audit Committee. The above unaudited consolidated financial
results were approved by the Board of Directors at their meeting held on July 31. 2023. The limited review. as required under Regulation
33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015. has been completed by the Statutory Auditors for the
quarter ended June 30. 2023 and they have issued qualified conclusion on the aforesaid results with respect to the matter detailed in
Note 6 of these results.

Note 3 The figures for the quarter ended March 31. 2023 are the derived figures between the audited figures in respect of the full financial year
ended March 31. 2023 and the unaudited published year to date figures up to December 31. 2022. being the date of end of the third
quarter of the financial year which was subjected to limited review.

Note 4 The Code on Social Security. 2020 rthe Code") which would impact the employee benefits and post-employment benefits has received
Presidential assent in September 2020. However. the date from which the Code will come into effect has not been notified. The Group
will complete its evaluation and will give appropriate impact in its consolidated financial results in the period in which the Code becomes
effective.

Note 5 Pursuant to the approval of the Board of Directors of the Company on May 26. 2023. the Company has entered in to a Business
Transfer Agreement dated June 9. 2023 with Automobility Service Solutions Private Limited ('the Purchaser") for transfer of its "Project
House Mobility Solutions· {Specified Business) for a consideration of Rs. 6 ,972 Million. The transfer of business was completed on July
01, 2023 and accordingly. the Group has not considered the impact of transfer in its quarterly results of the period ended June 30. 2023.
The Group believes that the Specified Business does not get qualified as a separate major line of Business under "IND AS 105 - Non
Current Assets held for Sale and Discontinued Operations- and accordingly has not considered the same as a "discontinued operation"
for the purpose of these unaudited consolidated financial results.

Note 6 Regulation 23(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015 ('SEBI LODR"). require a company to
obtain prior approval of material related party transaction as defined in the SEBI LODR from its shareholders. During the year ended
March 31, 2023. Bosch Limited had entered into related party transactions with Bosch Automotive Electronics India Private Limited. a
fellow subsidiary. aggregating to Rs. 11,999 Million which requires prior approval of shareholders as per SEBI LODR. However. such
prior approval was not obtained in respect of these related party transactions.

The Company has initiated the process of obtaining post facto approval from its shareholders in the ensuing Annual General Meeting to
be held on August 01. 2023 for ratification of such related party transactions and to settle the contravention of aforesaid SEBI
Regulations under the SEBI (Settlement Proceedings) Regulations. 2018. Accordingly, the management continues to account for the
aforesaid related party transactions. Pending final outcome of the above matters no adjustment has been made to the financial results in
this regard.

Note 7 The comparative financial information of the Group for the corresponding quarter ended June 30. 2022 included in these unaudited
consolidated financial results. were reviewed by the predecessor auditor who expressed an unmodified conclusion on those financial
information on August 02. 2022.

Note 8 Previous quarter/ year figures have been regrouped to conform with the classification adopted in these unaudited consolidated financial
results.

For and on behalf of the Board of

Directors of Bosch Limited

Place : Bengaluru
~~ (Guruprasad Mudlapur)
Date: July 31, 2023 Managing Director
Press release

Bosch Limited registers 12.8 percent profit before July 31, 2023
tax in Q1 FY 2023-24 Corp/C/CGR-IN
CIN: L85110KA1951PLC000761

▶ Total revenue from operations in Q1 of FY 2023–24 is up 17.3 percent over

the same quarter of previous year.
▶ Profit after tax stood at 9.8 percent of total revenue from operations.
▶ Scheduled to showcase the BS6 stage 2 hydrogen engine truck by early
2024.

Bengaluru, India – Bosch Limited, a leading supplier of technology and

services, today posted its total revenue from operations of INR 4,158 crores (466
million euros) in Quarter 1 of FY 2023–24, an increase of 17.3 percent over the
same quarter last year. The revenue from operations in quarter 1 has been
higher compared to the previous quarter, mainly due to increased sales of
Exhaust Gas Temperature (EGT) components in passenger cars and commercial
vehicle segment, outperforming the market.

The Profit Before Tax (PBT) stood at INR 533 crores (60 million euros) which is
12.8 percent of total revenue from operations, an increase of 21.7 percent
increase over the same quarter of previous year. The Profit After Tax (PAT)
stood at INR 409 crores (46 million euros) which is 9.8 percent of revenue from
operations.

“We are optimistic about the future as we navigate a rapidly changing global
market with positive trends in the Indian automotive industry which is witnessing
a shift towards premium vehicles and cleaner fuel options and electrification.
Hence, embracing change is crucial and we are ready to leverage technological
advances to cater to the evolving consumer preferences,” said Guruprasad
Mudlapur, Managing Director, Bosch Limited and President of Bosch Group in
India. “With India emerging as a promising market and our focus on green
hydrogen and innovative automotive offerings, Bosch is well-positioned for
growth and success in the year ahead.”

Rising income levels and an increased focus on value-driven factors are driving
growth in the categories of scooters, premium motorcycles, and SUVs.

Bosch Limited Aakanksha Ahlawat Corporate Communications/India

Hosur Road, Adugodi E-mail : [email protected] Head – Shakambhari Thakur
Phone : +91 9986320762 www.boschindia.com
Bangalore - 560030
Snapshot of performance in Quarter 1
The Powertrain Solutions business registered a growth of 12.5% over same
quarter of previous financial year outperforming the overall automotive market
growth. This has resulted in an increase of 13.6% in the product sales of the
automotive segment.

While there are still supply bottlenecks, the global semiconductor supply situation
has eased in the recent months. The weakening of demand due to global
economic crisis has helped better distribution of semiconductor supplies across
the world. As a result, the two-wheeler business has experienced a remarkable
sales recovery, with a substantial growth of 42.8 percent compared to the same
quarter last year.

The Beyond Mobility business, driven by continued growth in consumer products

and significant government investments in infrastructure, recorded a 21.5%
increase in net sales over same quarter of previous financial year.

Bosch Limited: outlook for fiscal year 2023-24 under the new leadership
Speaking about the outlook for the upcoming fiscal year, Mudlapur commented,
“Bosch is poised to embrace the transformative changes ahead of us. Cleaner
fuels, green hydrogen and electrification take center stage in our commitment to
a climate-neutral future. Bosch India will showcase the BS6 stage 2 hydrogen
engine truck, by early 2024. This is also exemplified by the successful launch of
our first hydrogen-powered demonstrator vehicle in India in June 2023 which
comes after the announcement about the launch of the pilot Hydrogen Engine
Testing infrastructure in Bengaluru later last year.”

As the global market shows signs of recovery, Bosch approaches it with cautious
optimism amidst interest rate fluctuations and affordability concerns. Navigating
the ever-evolving automotive industry's transformation, the company stands
ready to seize opportunities, particularly in India's thriving infrastructure sector.
Over the next decade, India presents immense growth potential in the areas of
innovation, technology, quality, and manufacturing depth. Bosch is committed to
investing in cutting-edge R&D to develop groundbreaking solutions that drive the
company towards a greener and more sustainable future.

“At Bosch India, we are fostering a culture of inclusivity, collaboration, and

continuous learning for our associates’ success. By investing in our people, we
aim to enhance their capabilities and maintain our position at the forefront of the
industry. Exciting times lie ahead as we navigate the evolving landscape of the
India market,” Mudlapur added.

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Contact person for press inquiries:
Aakanksha Ahlawat
Phone : +91 9986320762
[email protected]

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 center outside Germany, for end-to-
end engineering and technology solutions. The Bosch Group operates in India through twelve
companies: Bosch Limited – the flagship company of the Bosch Group in India – Bosch
Chassis Systems India Private Limited, Bosch Rexroth (India) Private Limited, Bosch Global
Software Technologies, 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 Private Limited, Automobility Services and
Solutions Private Limited, Newtech Filter India Private Limited and Mivin Engg.Technologies
Private Limited. In India, Bosch set-up its manufacturing operation in 1951, which has grown
over the years to include 17 manufacturing sites, and seven development and application
centers. The Bosch Group in India employs over 38,700 associates and generated
consolidated sales of about Rs. 30,368 crores (3.7 billion euros) in fiscal year 2022-23 of which
Rs. 18,945 crores (2.3 billion euros) are from consolidated sales to third parties. Bosch Limited
is the flagship company of the Bosch Group. It earned revenue of over Rs. 14,929 crores (1.67
billion euros) in fiscal year 2022-23.

Additional information can be accessed at www.bosch.in

The Bosch Group is a leading global supplier of technology and services. It employs roughly
421,000 associates worldwide (as of December 31, 2022). The company generated sales of
88.2 billion euros in 2022. Its operations are divided into four business sectors: Mobility
Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As
a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and
connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and
exciting. It uses its expertise in sensor technology, software, and services, as well as its own
IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The
Bosch Group’s strategic objective is to facilitate connected living with products and solutions
that either contain artificial intelligence (AI) or have been developed or manufactured with its
help. 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 470 subsidiary and regional companies
in over 60 countries. Including sales and service partners, Bosch’s global manufacturing,
engineering, and sales network covers nearly every country in the world. With its more than
400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of
2020. The basis for the company’s future growth is its innovative strength. At 136 locations
across the globe, Bosch employs some 85,500 associates in research and development, of
which nearly 44,000 are software engineers.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as “Workshop for
Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert
Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible
for the company to plan over the long term and to undertake significant upfront investments in
the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH
is held by Robert Bosch Stiftung GmbH, a charitable foundation. The remaining shares are
held by Robert Bosch GmbH and by a corporation owned by the Bosch family. The majority of
voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The
entrepreneurial ownership functions are carried out by the trust.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-

press.com, www.twitter.com/BoschPress

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