BOSCH LTD
Add to watch list to get report alerts
BSE Code:
500530
NSE Code:
BOSCHLTD
Business Profile
Business Profile
Motor Industries Company (MICO), founded in 1951, is a 61% subsidiary of Bosch India. The regional branch of the Bosch Group, one of the world`s biggest private industrial corporations, is headquartered in Stuttgart, Germany. It has been the pioneer in diesel fuel injection equipment and spark plugs. Diesel fuel injection equipment (FIE) has been the core business of MICO right from its inception in 1951. Today, MICO continues to be a supplier of FIE to a majority of OEMs with a market share of over 81%.
The various segments that the company operates include auto spares, special purpose machines, power tools, packaging machines, car audio systems manufactured and marketed under the brand name Blaupunkt, fuel injection equipment, regulators for alternators. MICO has manufacturing plants in Bangalore, Naganathpura (near Bangalore), Nashik and Jaipur. Of these, Naganathapura and Nashik plants also house EOUs.
Currently, MICO with support from Bosch is actively working on introducing electronic diesel control (EDC) systems in India. In 2004, the Bosch Group announced investments of upto Rs 10 billion in the Indian market. Now the total investments the company would make in India adds upto Rs 18 billion till 2008. Of the total funds infusion, about Rs 5.5 billion would be invested in the large-scale series production of high-pressure common-rail systems that the company already supplies to Hyundai & M&M in India. Apart from this, the investment would be utilized for ramping up capacity, routine capital and maintenance expenditure and developing new research and development infrastructure.
Financials
The company announced a substantial drop in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company declined 69.47% to Rs 493.80 million from Rs 1,617.20 million in the same quarter last year. Net sales declined 17.71% to Rs 9,917 million, while total income for the quarter fell 19.02% to Rs 9,989.80 million, when compared with the prior year period. It reported earnings of Rs 15.50 a share during the quarter, registering 69.31% decline over prior year period.
Recent Developments
08-JAN-08
The shareholders of Motor Industries Company, at its extra ordinary general meeting held on Jan. 07, 2008 approved the change of name of the company from `Motor Industries Company ` to `Bosch `, subject to necessary government approval.
14-AUG-07
Post offer made to the shareholders of Motor Industries Company, Robert Bosch GmbH has acquired 2,943,160 (9.18%) fully paid-up equity shares of Rs 10 each at a price of Rs 4,600 and now has 22,349,420 shares (69.73%)
01-JUN-06
Motor Industries Company, a wholly owned subsidiary of world leader Robert Bosch of Germany, disclosed that Bosch has announced the launch of its first manufacturing facility in the country for common rail high pressure pumps at Bangalore, thereby further expanding its presence in India. Bosch has already announced an investment of Rs 18,000 million in India between 2005 and 2008, of which Rs 5,500 million have been earmarked for the establishment and expansion of common rail system production in Nashik and Bangalore. The new production line in Bangalore has an initial installed capacity of upto 1,000 common rail high pressure pumps per day.