Pramod Amthe · InCred Equities
partialSpark plug export opportunity and other areas for exports
Yes, indeed, you are right. The timing is right for us. Also, there have been some shifts of our production out of Russia, so a lot of spark plugs, which were earlier made in our Russian location, have moved out, and they've been relocated into India... There is a possibility that this phenomenon will extend to other areas. We are in discussions right now... I would not like to comment on any specific area that we may extend this to.
Pramod Amthe · InCred Equities
evasiveGap in winning EV orders like eAxle vs competitors
I think on the eAxle portfolio, we as Bosch, have quite a widespread portfolio, globally... The market in India is in a formative phase, and we are basically trying to align best the portfolio... I don't see a gap, but this would take time before we are able to bring together the specifications of the global platforms and the local requirements.
Dinesh Gangwani · Mahindra Finance
evasiveWill eAxle be in listed entity or unlisted?
Well, we are, at the moment, first focusing on, like I mentioned, very generic level, the requirements engineering, which includes multiple domains. We are yet to get to this point about where would the technology lie.
Dinesh Gangwani · Mahindra Finance
partialMargin outlook from current 11-12% level
If you look at the margins, and if you are looking at the margins in the ICE business for manufactured goods here in India... we are seeing actually that we have for the self-manufactured goods, quite good margins on the market. We also have to see that in the overall operating margin of the 9%, we have currently a high part of traded goods... What we are doing looking forward, we are investing and going ahead with the localization.
Dinesh Gangwani · Mahindra Finance
directAre one-off expenses matched by service income?
Yes. If you look at the higher spendings, we also have to see the other part, we have higher income from service. That means whenever we see in the revenues, the service income, then we book it, also, of course, the related spendings with it.
Analyst · Research desk
directQuantify one-off expenses in other expenses
There are actually, one important point, and this is the new business expenditures... the professional charges, which is the spendings to the higher service income, is about 1.3 percentage points, and the spendings in the new business expenditures is roughly 0.6 percentage points.
Analyst · Research desk
evasiveAre current gross margins the new normal?
In principle, we do not talk about gross margins at all. As I mentioned before, what we saw in the last quarter, that we have a jump in the traded goods... traded percentage from total of 54.4 percentage points, versus the same quarter in the last year of 51.3%. This is, of course, influencing then also the EBIT.
Analyst · Research desk
partialDoes Bosch have supply agreement with Tesla?
I think Bosch has a business relationship with Tesla, primarily in the U.S. and partly in China, but these are more in braking and wiper components. Let's follow up on what happens with the Tesla plans in India and their value chain, and we will align accordingly.
Analyst · Research desk
evasiveCan margins improve from Q1 levels?
Once again, the margins or the overall EBIT, EBITDA is highly influenced by the mix we have between traded and manufactured goods... Overall, if you say, yes, margins are stable, but of course it depends, what is the setup or the product portfolio behind the revenue?
Analyst · Research desk
partialRationale for selling Project House Mobility Solutions
The Project House for Mobility Solutions... we realized that this requires global scale and global expansion... As Bosch Limited, we are chartered to take care of the India business, and we're not really focused on the global part of the business. Primarily, this was the reason that we decided that it's better to sell the business to our parent.
Analyst · Research desk
evasiveTractor segment revenue share and TREM V outlook
We do not share details of segment-level revenue and so on. On the TREM V, currently, we are all prepared for in terms of technology... The chance of a postponement or a chance of introduction of TREM V, I mean, I do not want to speculate, but it looks more and more certain that there will be further postponement of TREM V legislation.
Senthil Manikandan · Research desk
partialTwo-wheeler electric powertrain scope and market share
Like I mentioned earlier, I think in the electrified scooter space, we would primarily focus on in-hub motors in the range of 2-3 KW power range, along with the motor control unit. That would be the focus of portfolio from a Bosch side on the electrified two-wheelers.
