Q3 2024 Bosch Ltd Earnings Call Transcript
Key Points
- Bosch Ltd (BOM:500530) reported a 14.9% increase in overall revenue from operations for Q3 FY24 compared to the same period last year.
- The automotive aftermarket business grew by 8.6% quarter on quarter, driven by increased sales for spark plugs, filters, and lubricants.
- The beyond mobility solutions sector saw a significant growth of 32.5% in Q3 FY24 compared to Q3 FY23.
- The company declared a special interim dividend of INR205 per equity share for Q3 FY24.
- Bosch Ltd (BOM:500530) secured the Great Place to Work certification for the fourth consecutive time, highlighting its commitment to a high-trust, high-performance culture.
- Material costs as a percentage of total revenue increased to 62.3% in Q3 FY24 from 60% in Q3 FY23, impacting profitability.
- Tractor volumes declined by 13% year on year due to uneven rainfall and a high base from the previous year.
- The lower end of the passenger car segment continued to witness subdued demand.
- Sequentially, volumes dipped across segments due to increased production in Q2 FY24 for festive season demand, followed by seasonal softness.
- The company faced adverse Forex impacts on imported materials, contributing to higher material costs.
Yeah, I'll go ahead. I'll start, yeah. Ladies and gentlemen, good day and welcome to Bosch Limited 3Q FY23/24 post-results conference call hosted by Batlivala & Karani Securities India Private Limited.
From Bosch management, we have with us today Mr. Guruprasad Mudlapur, Managing Director and Chief Technology Officer; Ms. Karin Gilges, Chief Financial Officer. (Event Instructions)
Over to you, sir.
Thank you, Annamalai. Good evening, everyone, and thanks for being part of this call. Today, I'll start with a brief on the global and Indian macroeconomics, followed by an automotive market update. Then, I'll walk you through our financials. Finally, I'll end with the highlights of the quarter affecting our business.
As per the recent International Monetary Fund report, the global growth is projected to be at 3.1% in 2024 and rise to 3.2% in 2025. Amidst challenging global macroeconomic environment, the Indian economy
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