Bosch net profit up at Rs 1,122.6 cr

He said growth had declined in the last two quarters (July-December) due to economic slowdown,tight liquidity,high interest rates,increase in fuel prices and adverse market sentiments.

The company’s overall exports grew 22.3 per cent to cross the Rs 1,000 crore mark on the back of strong demand from markets in Germany,China,Brazil and Korea,he said.

The company¿s Board of Directors have recommended a higher dividend of Rs 50 per share against Rs 40 per share announced for 2010,Vishwanathan said.

“This is over and above the one-time special dividend of Rs 85 per share paid in June 2011,” he added.

On capital expenditure,Vishwanathan said Bosch is gearing up to capitalise on the opportunity of economy rebounding,leading to improvement in the automotive sector,which would serve all market segments with innovative product offerings and solutions.

“We have invested nearly Rs 660 crore in 2011 for capacity expansion and other activities in India,” he said.

On Bosch’s expectations in first two quarters of this fiscal,Vishwanathan said it all depends on how interest rate scenario changes. “If interest rates come down between March and June,year 2012 could well be the reverse of 2011,” he said.

“However the company is keeping its fingers crossed,” Vishwanathan said.

He said the Union Finance Minister and RBI officials have been indicating that the country would progressively witness falling interest rates.

There are positive signs as RBI has reduced CRR by 50 basis points,he said,adding that the apex bank has included growth aspect in their priorities list,unlike earlier when it only focused on controlling inflation.

Vishwanathan said Bosch was bullish on India as it would be investing Rs 1,200 crore between 2012 and 2013. “This shows we are bullish on India,” he said.