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Revenue
₹4,394.3 Cr
verified against source
Revenue YoY
64%
reported change
EBITDA
₹560.5 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Bosch Limited reported a strong Q2 FY25 with revenue from operations at INR 4,394 crore, up 64% YoY, driven by broad-based growth across mobility aftermarket, power solutions, and consumer goods. EBITDA grew 141% YoY to INR 561 crore, with margins expanding 90 bps to 12.8% due to favorable product mix and localization benefits. The automotive industry saw a slight 1% decline, but Bosch outperformed, supported by diesel system sales and export growth of ~10%. Management expects FY25 to mirror FY24 growth trajectory, with cautious optimism on festive demand. Key risks include high passenger vehicle inventory (~70 days) and potential pre-buy volatility ahead of TREM V norms. The company continues to localize components and invest in connected solutions and safety systems.
Colored figures show movement against the previous available record.
Guidance to track
- Management guided for full-year CapEx of approximately INR 4,000 million (INR 400 crore), lower than last year due to completion of the auto body campus.
- Management expects FY25 growth to mirror FY24 levels, with moderate growth for the automotive industry despite high base and inventory buildup.
- Bosch is well prepared for TREM V norms (April 2026) with higher localization expected from the start, and capacity to handle pre-buy effects.
Risks flagged
- Passenger vehicle inventory is around 70 days, posing a risk to production volumes if festive season demand does not clear stocks.
- Export growth is lumpy and dependent on global production network demands; near-term visibility is low despite long-term optimism.
- No confirmed policy support for hybrids beyond a few states; Bosch's hybrid content opportunity remains uncertain.
Key quotes
- We are constantly looking at our product portfolio, our business activities in the listed company, and also business activities outside the listed company in the Indian context. We are very open to look at and re-arrange these things.
- We are doing our best to ensure the excellent business performance under difficult, currently slightly difficult market conditions.
- It's a mix. This month, we had favorable product mix on the one side. But, of course, we are going ahead with the localization, and step by step, we see what we implement here in India.
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