This article first appeared on GuruFocus .
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Revenue from Operations:INR48,856 million for October-December 2025, a 9.4% increase over the same period in 2024.
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Revenue Growth (April-December 2025):9.8% increase from INR1,31,768 million to INR1,44,690 million compared to the same period in 2024.
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EBITDA (October-December 2025):INR6,124 million, a 5.1% increase over the previous year.
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EBITDA Growth (April-December 2025):12.4% increase to INR18,688 million from INR16,628 million in the previous year.
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Profit After Tax (October-December 2025):16.1% growth over the previous year; 5.3% growth excluding exceptional items.
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Profit After Tax (April-December 2025):INR22,017 million, a 50.8% increase over the same period in the previous year.
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Mobility Business Growth (Q3 FY26):18.5% increase, driven by Power Solutions and 2-Wheeler segments.
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Consumer Goods Business (Q3 FY26):Decline of 3.1%.
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Power Tools Division:Moderate growth due to price pressure, but Cordless segment achieved double-digit growth.
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Dealer Network Expansion:Expanded to over 1,800 partners, with 25,000 retail points across more than 1,600 cities.
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Release Date: February 09, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Bosch Ltd ( BOM:500530 ) reported a 9.4% increase in revenue from operations for the quarter, driven by higher sales in Power Solutions and 2-Wheeler powersports segments.
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The company's EBITDA grew by 5.1% over the same quarter of the previous year, with an improvement in EBITDA margin due to a favorable product mix and expense optimization.
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Profit after tax for the quarter increased by 16.1% over the previous year, with significant growth attributed to the sale of the Video solutions, Access and Intrusions, and Communication systems business.
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The Power Solutions division showed strong growth, particularly in the Tractor and Heavy Commercial Vehicle segments, supported by GST 2.0 rollout.
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Bosch Ltd's Mobility Aftermarket rebounded strongly after an initial impact from GST 2.0, driven by festive demand and improved consumer confidence.
Negative Points
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The Consumer Goods business saw a marginal decline of 3.1% in the quarter.
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Despite strong growth in various segments, the company's margins have remained relatively stable, with no significant movement despite operating leverage and localization efforts.
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The Power Tools division faced challenges due to intense price pressure from Chinese competitors, resulting in moderate growth.
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Bosch Ltd's auto segment growth was lower compared to the growth rates in the CV, tractor, and PV segments.
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The company is not currently supplying e-axles to any OEMs in India, although discussions are ongoing.
Q & A Highlights
Q: Are you re-evaluating your capacities and CapEx requirements for FY27 and FY28 given the potential for historic high volumes in user segments? A: (Karin Gilges, CFO) Yes, we continuously assess predicted volumes and adjust investments accordingly. We maintain a buffer and release CapEx for expansion as needed. However, we are currently considering our options and do not wish to provide specific guidance at this time.
Q: How will the India-EU trade deal affect imported components and localization efforts? A: (Karin Gilges, CFO) We are localizing components like NOx sensors and common rail products. The trade deal is positive, but we continue to focus on localization where commercially feasible. We have increased exports of spark plugs and components, and relocated some production to India for export back to Japan and Korea.
Q: Despite strong growth drivers, why aren't margins improving significantly? A: (Karin Gilges, CFO) While growth and localization have improved margins, product mix and market demands also play a role. We had a strong quarter with a 10.5% EBIT, and provisions for the new labor code were made. We expect continued margin improvement through further localization and cost management.
Q: What is Bosch's plan for EV components in India, particularly for four-wheelers? A: (Guruprasad Mudlapur, MD & CTO) Bosch Group supplies various components for electric cars. Bosch Ltd aims to focus on e-axles, which are significant in value. We are in advanced discussions with OEMs and will update on developments in future quarters.
Q: How is Bosch progressing with alternate fuel technologies and hydrogen engines? A: (Guruprasad Mudlapur, MD & CTO) Bosch offers a wide range of fuel options, including flex fuels. The content per vehicle doesn't change significantly. We are working closely with OEMs on hydrogen engines, with vehicle testing ongoing. Commercial rollout depends on infrastructure development, expected by 2030.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
