“Bosch Limited Q4 FY2021 Post Results Conference Call” May 20, 2021 ANALYST: MR. ANNAMALAI JAYARAJ - RESEARCH ANALYST - B&K SECURITIES MANAGEMENT: MR. SOUMITRA BHATTACHARYA - MANAGING DIRECTOR BOSCH LIMITED MR. S. C. SRINIVASAN - CHIEF FINANCIAL OFFICER AND JOINT MANAGING DIRECTOR - BOSCH LIMITED MR. GURUPRASAD MUDLAPUR – CHIEF TECHNICAL OFFICER - BOSCH LIMITED MR. RAJESH PARTE - COMPANY SECRETARY & COMPLIANCE OFFICER- BOSCH LIMITED Bosch Limited May 20, 2021 Moderator: Ladies and gentlemen good day and welcome to the Bosch Limited Q4 FY2021 post result conference call hosted by Batlivala & Karani Securities India Private Limited. As a reminder, all participant lines will be in the lesson only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call please signal an operator by pressing “*” then “0” on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Annamalai Jayaraj from Batlivala & Karani Securities. Thank you and over to you Sir! Annamalai Jayaraj: Thank you Malika. Welcome to Bosch 4Q FY2020-2021 post results conference call. From Bosch management we have Soumitra Bhattacharya, Managing Director, Mr. S. C. Srinivasan Bosch Limited, Chief Financial Officer and Joint Managing Director, Mr. Guruprasad Mudlapur, Chief Technical Officer, and Mr. Rajesh Parte - Company Secretary & Compliance Officer. I will now hand over the call to Mr. Soumitra Bhattacharya for the opening remarks to be followed by question and answer session. Over to you Sir! Soumitra Bhattacharya: Thank you Mr. Annamalai Jayaraj and thank you Mallika. Good evening colleagues and thank you for being part of this call. I hope you and your family members are keeping safe and healthy during these tough times. I would like to start briefly about the macroeconomic highlights. All of you know that due to the various forms of lockdown in multiple states and some of the states have even announced a complete lockdown for a few weeks the Indian economy and the mobility recovery index have fallen to the comparable levels of July. While RBI had forecasted a growth of about 10.5% for FY2022 this forecast could be under risk although the demand is expected to come back once the COVID wave two recedes. In this background the proactive action taken by RBI last week in announcing a series of targeted liquidity as well as regulatory measures will help reduce the stress and the financial sector stability risks in the economy though more measures are going to be needed in the coming months to provide an adequate support to different stakeholders for combating the adverse impact of the second COVID2019 wave. With this background, let us look into the automotive market development in the quarter. The overall automotive market production increased by 28% including two-wheeler segment of course on a lower base. The heavy commercial segment increased by 92% again on a lower base strong demand can be attributed to the improved consumer sentiments firming freight rates as well as higher infrastructure demand. Page 2 of 18 Bosch Limited May 20, 2021 The tractor segment increased by 67% and tractor demand had continued to remain positive due to a higher Rabi output and favorable crop prices. Of course, in the case of tractors also as I speak with you right now the rural segment is also under stress. Passenger car segment increased by 25% aided by preference for personal mobility, light commercial segment increased by 37% increased by e-commerce activities and new launches in the sub-segment and amongst the other market segments two-wheeler segment increased by 29%. Three-wheeler segment de-grew by 16% on a low base already and recovery in three-wheeler was witnessed only in March 2021. Amidst this auto market performance, we now look into the performance of the company for the quarter. The total revenue from operation stood at 32177 million or 3218 Crores an increase of 43.8% as compared to the corresponding period of the previous year. Mobility business sector increased by 57% approximately due to factors mentioned earlier. Business beyond mobility solutions have increased by about 30% the domestic sales for this quarter increased by 50% plus. Material cost as percentage of revenue from operations has increased to 61.4% during the quarter as compared to 53.9% during the corresponding period of the previous y

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