Mumbai: Indian automotive parts maker Bosch Ltd recorded a 13% rise in net sales in 2007 over the previous year.
Bosch, the flagship in India of Germany’s Robert Bosch said net sales grew to Rs42.8 billion and net profit was Rs6.1 billion.
Bosch, which is spending Rs26.5 billion up to 2010 on expanding facilities for gasoline systems components and electronic units, plans to also enter the pharma packaging segment, it said.
“The year 2007 saw a significant slowdown in certain segments of the automotive market notably tractors, two- and three-wheelers and heavy commercial vehicles,” managing director V.K. Viswanathan said.
“While Bosch has grown sales by 13% this growth was below our expectations due to this slowdown”.