Bosch India 2007 net sales up 13 percent

MUMBAI, March 7 (Reuters) - Indian automotive parts maker Bosch Ltd (BOSH.BO: Quote, Profile, Research, Stock Buzz) recorded a 13 percent rise in net sales in 2007 over the previous year, it said late on Thursday.

Bosch, the flagship in India of Germany's Robert Bosch [ROBG.UL], said net sales grew to 42.8 billion rupees ($1.1 billion), and net profit was 6.1 billion rupees.

Bosch, which is spending 26.5 billion rupees 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 percent, this growth was below our expectations due to this slowdown". ($1=40.2 rupees) (Reporting by Rina Chandran; Editing by John Mair)