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Bosch Partners With IBM in Quantum Computing to Find Surrogates for Precious Metals and Rare Earths Elements | Bosch Q2 FY 2022-23 | Bosch Limited registers 13.3% profit before tax in Q2 FY 2022-23 | 2YODOINDIA

Bosch Partners With IBM in Quantum Computing to Find Surrogates for Precious Metals and Rare Earths Elements | Bosch Q2 FY 2022-23

Bosch is partnering with IBM in the field of quantum computing, hoping to use simulation technology to find surrogates for precious metals and rare earths in carbon-neutral powertrains within the next decade.

Bosch Chief Executive Stefan Hartung said :

“We share our experience in simulating materials for very specific application areas with IBM, and in return we gain deeper insights into the power and applicability of quantum computing including hardware,”.

The Bosch is investing EUR 10 billion (approx. Rs. 81,700 crore) in digitalisation and connectivity by 2025, with new technologies focus on sustainability and mobility accounting for two-thirds.

IBM beat quarterly earnings estimates, stating that it expects to exceed full-year revenue growth targets as robust demand for the company’s digital services helped cushion the blow from a strong dollar.

The IT software and services provider has focusing on the so-called “hybrid cloud” after spinning off its legacy IT-manage infrastructure business, and post double-digit growth across all its segments and geographies on a constant-currency basis in the third quarter.

IBM, whose cloud revenue rose 11% to $5.2 billion (approx. Rs. 42,300 crore) in the previous quarter, had stated that it expect the company’s annual sales to increase more than its previous estimate of mid-single-digit growth at constant currency.

This year’s more than 17% surge in the dollar had also eaten into IBM’s earnings, mirroring a trend seen at peers such as Microsoft and Salesforce that also have large international operations.

IBM, which gets more than half its revenue from outside the US, increase its full-year estimate for foreign exchange impact to 7% from 6%.

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Bosch Limited registers 13.3% profit before tax in Q2 FY 2022-23

Bosch Limited, a leading supplier of technology and services, post total revenue from operations of INR 3,662 crores in Quarter 2 of FY 2022–23, an increase of 25.5 percent over a low base in same quarter of previous year, which was impact by COVID-19 pandemic.

This has further increase compare to the all-time high revenue achieve in the previous quarter with INR 3,544 crores, influence by the easing of chip shortage, aiding the broad-base growth in auto supply.

Profit before tax stood at INR 487 crores that constitutes to 13.3% of total revenue from operations that is a 22.5% increase over the same quarter of previous year.

Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India Said :

“The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year. Although supplies in semiconductor have eased out relatively, the supply chain ecosystem itself continues to remain fragile. Despite these uncertainties including rising input costs, we expect to build on the strong performance of this quarter,”.

Snapshot of performance in Quarter 2

The automotive market in Quarter 2 witness a strong Y-o-Y growth on a COVID impact low base.

The Powertrain Solutions business which constitutes more than 60% of the total net sales show a robust growth, outperforming the overall automotive market growth.

This has result in an increase of 31.1% in the product ales of the automotive segment.

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With the easing of the chip shortage, the sales in the 2-Wheeler segment also saw a growth of 21%.

The Beyond Mobility businesses record an increase of 7.5% in net sales mainly due to growth in the security solutions and a sustaine growth in the consumer goods division, support by the festive season demands.

As Bosch India celebrates 100 years, we also celebrate 50 years of Make in India, underlining our commitment towards precision manufacturing at the Nashik Plant. Commemorating this milestone, a new Common Rail Injector (CRIN) line for commercial vehicles was inaugurate, to cater to the Indian customers.

Bosch Limited also launch the pilot Hydrogen Engine Testing infrastructure with temporary storage setup in Bengaluru, which is the first of its kind facility in Bosch.

Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India Said :

We are happy to inaugurate our in-house developed CRIN line in Nashik to cater to the Indian commercial vehicle market, in line with Government of India’s vision of Atmanirbhar Bharat. Addressing the changing regulatory emission norms, this line will further increase our share of local production,”.

“Bosch is also gearing up to become a system solution provider for new-age technologies in the mobility space. We have set up a state-of-the-art Hydrogen Engine Test Infrastructure at our Adugodi campus in Bengaluru. Through this, we look forward to developing and advancing our capabilities in the hydrogen engine and fuel cell technologies and propel the alternative fuel revolution in India.”

About Bosch in India

In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.

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Additionally, Bosch has in India the largest development center outside Germany, for end-to-end engineering and technology solutions.

The Bosch Group operates in India through twelve companies:

  1. Bosch Limited – the flagship company of the Bosch Group in India,
  2. Bosch Chassis Systems India Private Limited,
  3. Bosch Rexroth (India) Private Limited,
  4. Bosch Global Software Technologies,
  5. Bosch Automotive Electronics India Private Limited,
  6. Bosch Electrical Drives India Private Limited,
  7. BSH Home Appliances Private Limited,
  8. ETAS Automotive India Private Limited,
  9. Robert Bosch Automotive Steering Private Limited,
  10. Automobility Services and Solutions Private Limited,
  11. Newtech Filter India Private Limited,
  12. Mivin Engg.Technologies Private Limited.

In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 18 manufacturing sites, and seven development and application centers.

The Bosch Group in India employs over 30,500 associates and generated consolidate sales of about Rs. 26,827 crores (2.8 billion euros) in fiscal year 2021-22 of which Rs. 24,406 crores (2.8 billion euros) are from consolidated sales to third parties.

Bosch Limited is the flagship company of the Bosch Group.

It earn revenue of over Rs. 11,782 crores (1.39 billion euros) in fiscal year 2021-22.

The Bosch Group is a leading global supplier of technology and services.

It employs roughly 402,600 associates worldwide (as of December 31, 2021).

The company generate sales of 78.7 billion euros in 2021.

Its operations are divide into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.

As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility.

Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting.

It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source.

The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have develope or manufacture with its help.

Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm.

In short, Bosch creates technology that is “Invented for life.”

The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries.

Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world.

With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020.

The basis for the company’s future growth is its innovative strength.

At 128 locations across the globe, Bosch employs some 76,100 associates in research and development, of which more than 38,000 are software engineers.

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