Bosch Ltd reported a 22% rise in revenue and a 28% increase in EBITDA in the latest quarter, driven by strong demand in power solutions and two-wheeler markets, despite macroeconomic uncertainties and geopolitical tensions.
Bosch Ltd said revenue climbed sharply in the latest quarter as demand held up across its power solutions and two-wheeler businesses, even as management pointed to an uncertain macroeconomic backdrop. According to the company’s earnings call summary, revenue from operations rose 22% year on year to INR58,419 million, while EBITDA increased 28% to INR8,180 million. Bosch attributed the stronger operating performance to higher sales, better productivity, localisation gains and a more favourable product mix.
The standout performance came from the mobility aftermarket, which Bosch said posted its highest monthly sales on record in June, helped by pricing actions, new product launches and a wider workshop programme. The two-wheeler business grew 41.4% from a year earlier, with management saying the gains reflected market share improvements on premium motorcycle platforms and stronger sales of value-added electronic fuel-injection products. The company also said the power solutions division continued to benefit from strong demand in passenger cars, tractors and off-highway equipment.
Bosch’s management said the margin improvement was not driven by one-off items and argued that the gains should be sustainable. In the call, executives pointed to a multi-quarter push on operational excellence, higher local content and productivity improvements. The company also said its global purchasing set-up has helped it navigate volatile sourcing conditions. At the same time, Bosch acknowledged that a higher share of purchases from its parent company has reached a decade high, while maintaining that localisation efforts remain on track.
The outlook was more cautious on the external environment. Bosch flagged geopolitical tensions in West Asia, inflation and possible El Niño effects as risks to demand and costs. Management also said commodity prices have risen sharply over recent quarters and remain a source of volatility, even if they have stabilised for now. Analysts cited by Arthneeti said Bosch expects flattish volume growth but sees content per vehicle rising, which should help support revenue and profit growth through FY27.
Looking ahead, Bosch is leaning on product launches, regulatory changes and new partnerships to extend growth. Management said upcoming rules such as CAFE Phase 3 and commercial vehicle ADAS norms should create more demand, while exports currently make up about 8.5% of revenue and are expected to rise over time. The company also said its chassis systems acquisition should broaden the portfolio, and that revenue from the e-axle joint venture with TACO is expected only by late next year, after merger-control approvals are completed.
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