Bosch, supplier of technology and services in automotive, industrial and consumer goods, today said it plans to invest more than Rs 1,300 crore over three years and expected its capex to touch Rs 400 crore mark by 2011 end.
The company had invested Rs 302 crore in capex in 2010, a 109% growth over 2009, V K Viswanathan, managing director, Bosch told reporters a day after the company's results were announced.
"We plan to invest more than Rs 1,300 crore over the next three years from 2011 to 2013," he said.
Viswanathan said out of the capex for 2010, Bangalore accounted for 65% of the investment,followed by Nasik at 25%, Jaipur at 5% and Goa and Naganathapura at 3% and 2%, respectively.
On the firm's results, he said, "It has been a good solid performance."
"Buoyed by sound and sustained economic growth backed by an even stronger growth in the automotive market, Bosch performed exceptionally well through its innovative technology and market relevant products and solutions across all business values," he said.
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The company registered a revenue growth of 39.6% for the year ending December 2010. It posted net sales of Rs 6,630 crore in 2010 with a net profit of Rs 859 crore, a growth of 45.4% over the previous year.
"Exports grew by 44.5% on the back of a smart rebound in demand from exports markets, notably Europe," he said. Power and tools and Security technology division recorded a growth of 28.3% and 19.7%, respectively. The packaging technology division grew by 6.2%.
Going forward Bosch, expected its business to grow with the automotive sector in general expected to see a "double digit growth".
In terms of export for Bosch Limited, Europe accounted for 60%, Asia accounted for 30%, Latin America four%, US five% and Africa one%.
In the last 10 years, exports had witnessed a 18% CAGR growth, he said.
Bosch in India had 22,500 employees and added almost 1,000 employees in 2010. He said the labourers 'go slow drive' had impacted its customers briefly, but the situation was brought under control subsequently.
The company, he said, had cash reserves of Rs 3,000 crore.
Globally, Bosch Group which is celebrating 125 years of its existence registered net sales of euro 47.3 billion in 2010, a 24% increase from the previous year.