Bosch / Q4-FY24

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Watch2024-04-26Back to BOSCHLTD

Revenue

₹4,233 Cr

verified against source

Revenue YoY

4.2%

reported change

EBITDA

₹557.2 Cr

latest reported figure

Source

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record provenance

Actual signal trajectory

Where this quarter sits.

source records only
EBITDA (₹ Cr)PositiveWatchNegative
9 actual records
Actual quarterly EBITDA (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q3 FY24: 461.1 · Positive source sentiment · 2024-02-12Q3 FY24Q4 FY24: 557.2 · Watch source sentiment · 2024-04-26Q4 FY24Q1 FY25: 519.7 · Watch source sentiment · 2024-07-26Q1 FY25Q2 FY25: 560.5 · Positive source sentiment · 2024-10-24Q2 FY25Q3 FY25: 582.6 · Watch source sentiment · 2025-01-24Q3 FY25Q4 FY25: 231 · Positive source sentiment · 2025-04-30Q4 FY25Q1 FY26: 639.3 · Positive source sentiment · 2025-07-31Q1 FY26Q2 FY26: 61.7 · Positive source sentiment · 2025-10-30Q2 FY26Q3 FY26: 612.4 · Positive source sentiment · 2026-02-10Q3 FY26639.361.7
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Bosch Limited reported Q4 FY24 revenue of INR 4,423 crore, up 4.2% YoY, with EBITDA margin improving 30 bps to 13.2%. Growth was driven by Mobility Aftermarket (+9.4%), Two-Wheeler (+17.6%), and Consumer Goods (+10.5%), while Power Solutions remained flat due to weak tractor demand. PAT surged 41.4% YoY, aided by a one-time income tax credit. Management expects moderate growth in FY25, with Q1 impacted by elections and liquidity constraints, but a recovery from Q2. Key risks include erratic monsoons affecting rural demand, potential three-wheeler encroachment on LCVs, and portfolio realignment uncertainties. The company continues to focus on localization and cost measures to sustain margin improvement.

Colored figures show movement against the previous available record.

Guidance to track

  • Management expects moderate growth for FY25, with Q1 impacted by elections and liquidity crunch, but recovery from Q2 onwards.
  • Annual capital expenditure is expected to continue in the range of INR 400-600 crore, supporting localization and other investments.
  • Start of production for localized exhaust gas treatment components is expected in April 2025.
  • The divestiture of the Building Technologies business is expected to be completed by Q1 or Q2 of 2025.

Risks flagged

  • Tractor sales declined 15% in Q4 FY24 due to erratic monsoon and low reservoir levels, which could continue to affect rural demand.
  • Management noted the risk of three-wheelers encroaching on the sub-one-tonne LCV segment, which could pressure LCV growth.
  • Analyst raised concerns about related-party transactions and portfolio realignment creating negative perception; management acknowledged ongoing changes without clear timeline.
  • Analyst observed gross margins at multi-decade lows despite soft commodity prices, questioning whether localization benefits are materializing.

Key quotes

  • We expect between 10%-15% of all trucks sold by 2030 to be with hydrogen ICE technology.
  • We are working on this, and together with the board, we'll let you know.
  • Localization is key also in the, as you rightly said, third-party supplier development, as well as in our own plant. Therefore, there is no change.

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