Bosch Limited — Q4 FY25
Bosch Limited reported a strong Q4 FY25 with revenue of INR 49,106 million, up 16% YoY, driven by power solutions, two-wheeler, and aftermarket segments.
bullish
medium
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
50%Questions answered4Evaded / deflected12Questions auditedConsistentNumbers vs filing
Answered
Medium priority
Does the NOx plant qualify under PLI and what is the benefit?
Asked by Pramod Amte
Management clearly stated the plant does not qualify and they did not apply.
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Question
The first question is with regard to the NOx plant. Interesting to see the quick execution coming through there. Wanted to know, does it qualify under PLI, and if so, what is the extent of benefit one?
Guruprasad Mudlapur, Managing Director
No, this plant does not qualify under PLI. And we did not apply this.
Evasive
Medium priority
When will PLI-related plans start and be accounted in financials?
Asked by Pramod Amte
Management did not provide a specific timeline or plan for PLI benefits.
no timeline givenvague commitment
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Question
When will your PLI-related plans start coming up, and you will start accounting in your financials?
Karin Gilges, CFO
We are screening, of course, all the PLIs constantly. Currently, as Ko already mentioned, this plant is not ready for the PLI, but we are screening all the time.
Partial answer
Medium priority
What helped reduce purchase goods as % of sales and future direction?
Asked by Pramod Amte
Explained driver (localization) but did not quantify future level or target.
no specific target given
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Question
What has helped you here, and what is to come forward in the remaining quarters, and where this cost will settle down if you can give direction?
Karin Gilges, CFO
What has helped us is our constant work on the localization, and not only on the finished goods, but what we mentioned in the last quarter also that we strongly work on the localization of components.
Answered
Medium priority
Have you earned new clients in OBD2 for two-wheelers?
Asked by Pramod Amte
Management confirmed they already serve all major OEMs, implying no new clients needed.
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Question
Have you earned any new clients in OBD2, or how to look at it?
Guruprasad Mudlapur, Managing Director
We are more or less serving all the major OEMs in the two-wheeler spectrum. I do not think we have any OEM who is not in our scope right now.
Declined
High priority
What is the breakup of mobility space between 2W, PV, CV?
Asked by Shriram
Management explicitly stated they do not provide segment reporting.
refused to provide breakdown
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Question
Within the mobility space, what is the breakup between two-wheeler, passenger vehicle, and CV?
Karin Gilges, CFO
What we are not doing is that we don't have a segment reporting in this way, but we look at the automotive as a total.
Answered
High priority
What is Bosch Limited's scope of work in EV business?
Asked by Shriram
Management clearly stated e-axles are the main scope for Bosch Limited.
Read the exchange
Question
For the EV business, what will be our scope of work?
Guruprasad Mudlapur, Managing Director
In terms of electrification, the e-axles, which are the largest components in the e-axle business, will stay within Bosch Limited. Our scope of work is mainly e-axles, right? Yes, that's correct.
Answered
Medium priority
Any update on trend-based specification implementation?
Management gave a clear update on the status of implementation dates.
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Question
Any update on trend-based specification implementation, sir?
Guruprasad Mudlapur, Managing Director
As far as we know from the industry, there is no change in the date of implementation. That stays as it is. We are prepared to roll it out as soon as the dates are confirmed.
Partial answer
Medium priority
Do we see more export opportunities due to global volatility?
Management acknowledged opportunities but gave no quantitative outlook.
no specific numbersvague on magnitude
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Question
Considering the current volatility in the global markets, sir, do we see any opportunity, more opportunity coming up for us?
Guruprasad Mudlapur, Managing Director
This is a very dynamic situation... We are monitoring this very closely. Eventually, what matters most is what is the landed cost... There are opportunities coming up all the time.
Evasive
High priority
Do you have orders in place for e-axle from OEMs?
Asked by Iqbal Khan
Management did not confirm any orders, only mentioned negotiations.
no order confirmationdeferred to future
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Question
For this e-axle, do you have orders in place from any of these OEMs? If you can highlight more about this.
Guruprasad Mudlapur, Managing Director
We are in several stages of negotiation with different OEMs, and I can't be more specific than that in a forum like this right now. As and when we close the commercials, we will certainly come back.
Partial answer
High priority
Is the strong sales performance sustainable given OBD2 anticipation?
Asked by Iqbal Khan
Management explained the quarter's revenue but did not answer sustainability question.
did not address sustainability directly
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Question
Largely, I believe it is contributed by tractors, passenger cars, and also the two-wheeler things. I mean, what I sense is it would be because of the anticipation of this OBD2 norms. Do you think that going ahead, would this be sustainable?
Karin Gilges, CFO
Yes, we had a very good revenue this quarter. You should also be aware that within this revenue, we see a growth in the sales of our products. We have also closed in this quarter one big application service project.
Partial answer
Medium priority
What will be the dividend distribution policy?
Management referenced existing policy but gave no future commitment.
no forward guidance on policy
Read the exchange
Question
This dividend, we have been increasing for the last two, three years. What will be the dividend distribution policy?
Karin Gilges, CFO
The dividend distribution policy, which we also publish on our homepage. Perhaps to give you a little bit more back. We had really a very successful year.
Evasive
Medium priority
What are the current updates on hydrogen engine work?
Management gave a general update without concrete achievements or timelines.
no specific milestonesvague progress
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Question
We have been working with a major Indian OEM on hydrogen engines. What are the current updates, sir?
Guruprasad Mudlapur, Managing Director
We have been working with almost all OEMs and also quite a lot of non-mobility players... The work we do with our OEMs is quite advanced, and that is going quite well is what I can say right now.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| 8.1% revenue increase in operations | 8.1% | 8.1% | Matches filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.