BOSCHLTD - Bosch

📊 NSE: BOSCHLTD 🏢 Auto Ancillaries 📅 Last Updated: 12/13/2025 19:47

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations reached INR 18,087.4 Cr in FY 2024-25, an 8.1% YoY increase. Segment growth included Mobility at INR 14,510 Cr (+7.0%), Consumer Goods at INR 1,720 Cr (+6.3%), and Energy & Building Technology at INR 490 Cr (+8.2%).

Geographic Revenue Split

Domestic sales within India constitute approximately 91.7% of total revenue. Export sales stood at INR 1,405.4 Cr, representing 8.3% of total sales, with 69% of these exports directed to Robert Bosch, Germany.

Profitability Margins

Operating Profit (EBIT) margin was 10.7% in FY 2024-25, up from 10.0% in FY 2023-24. Profit After Tax (PAT) margin was 11.1% (INR 2,013.3 Cr). ROCE stood at 19.7%, reflecting strong capital efficiency.

EBITDA Margin

EBITDA for H1 FY 2025-26 was INR 1,256.4 Cr (13.1% margin), growing 16.3% YoY. Q2 FY 2025-26 EBITDA was INR 617.1 Cr (12.9% margin), a 10.1% YoY increase driven by favorable product mix and expense optimization.

Capital Expenditure

Capital expenditure for FY 2024-25 was INR 127.3 Cr, focused on enhancing manufacturing capabilities and Industry 4.0 digital solutions.

Credit Rating & Borrowing

The company maintains a strong balance sheet with zero debt and substantial liquidity. Specific credit ratings and borrowing costs were not disclosed in available documents.

⚙️ Operational Drivers

Raw Materials

Raw materials and components (including trade goods) represent the primary cost driver, accounting for 63.4% of total revenue from operations in FY 2024-25.

Import Sources

While specific countries are not listed, the company has high integration with Bosch global standards, and 69% of its exports are sent to Germany, indicating a strong European supply chain link.

Raw Material Costs

Raw material costs improved to 63.4% of revenue in FY 2024-25 from 64.8% in FY 2023-24, a 1.4 percentage point improvement driven by material cost savings and a better product mix.

Manufacturing Efficiency

Efficiency is driven by advanced analytics and digital evolution, leading to increased productivity and strengthened quality controls at plants like Bidadi (BidP).

📈 Strategic Growth

Expected Growth Rate

10%

Growth Strategy

Growth will be achieved through a 51.8% increase in service income from new OEM projects, hiving off non-core Building Technology segments to realign with global strategy, and capitalizing on the 18.5% growth in the 2-wheeler segment and 4% rise in SUV demand.

Products & Services

Fuel injection systems (Power Solutions), 2-wheeler components, mobility aftermarket parts, power tools, video systems, and communication systems.

Brand Portfolio

Bosch.

New Products/Services

Income from sale of services grew 51.8% in FY 2024-25 due to additional projects completed for newer applications for Indian OEMs.

Market Expansion

Strategic projects are underway to expand market presence, particularly in non-mobility businesses where new entrants are offering low-cost solutions.

Market Share & Ranking

The company is a leader in advanced analytics and Industry 4.0 solutions within the Indian automotive component sector.

Strategic Alliances

The company provides shared services to other Bosch group companies, generating INR 405.4 Cr in other operating revenue (+16.4% YoY).

🌍 External Factors

Industry Trends

The industry is shifting toward SUVs and digital manufacturing; Bosch is positioning itself by integrating advanced analytics and Industry 4.0 into its production systems.

Competitive Landscape

New entrants are positioning themselves in non-mobility sectors through low-cost solutions, challenging the company's market share.

Competitive Moat

Moat is sustained by technological leadership, the integrated Bosch Production System (BPS), and strong parentage providing a stable export channel (69% to Germany).

Macro Economic Sensitivity

Highly sensitive to the Indian automotive industry, which saw a 3.5% YoY production increase (excluding 2-wheelers) and a 4% rise in SUV production.

Consumer Behavior

Changing consumer behavior is driving a shift toward SUVs (4% growth) while hatchbacks face weak demand and elevated inventory levels.

Geopolitical Risks

Global political uncertainty and trade barriers are identified as key risks in a 'BANI' (Brittle, Ambiguous, Complex, Non-linear) environment.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to local statutory requirements and Bosch global standards; the hiving off of the BT business aligns with global realignment strategies.