Earnings Review
Bosch Q4 sales, expenses rise fastest in FY26, PAT growth hit
This story was originally published at 20:03 IST on 20 May 2026
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--Bosch Jan-Mar net profit INR 5.69 bln vs INR 5.54 bln year ago
--Bosch Jan-Mar revenue INR 55.66 bln vs INR 49.11 bln year ago
--Bosch to pay INR 270 per share final dividend
--Bosch board OKs JV pact with Wheels India, Brakes India for CV solutions
--Bosch FY26 net profit INR 27.70 bln vs INR 20.13 bln year ago
--Bosch FY26 revenue INR 200.35 bln vs INR 180.87 bln year ago
--Bosch Jan-Mar automotive pdt revenue INR 48.75 bln vs INR 41.55 bln yr ago
--Bosch Jan-Mar consumer goods revenue INR 6.18 bln vs INR 5.41 bln yr ago
--Bosch: Q4 revenue up YoY on higher demand in overall automotive market
--Bosch: Q4 mobility segment sales up 23% YoY, power solutions sales up 27%
--Bosch:2-wheeler ops sales up 63% YoY Q4 on higher exhaust gas sensor sales
--Bosch expects Apr-Jun production volume at 2.22 mln units
--Bosch Jan-Mar production volume 2.63 mln units, up 17% on yr
--Bosch Jan-Mar EBITDA INR 7.82 bln vs INR 6.47 bln year ago
--Bosch final dividend record date Aug 4
By Eshitva Prakash
MUMBAI – Bosch Ltd. reported the sharpest year-on-year rise in quarterly revenue in the financial year 2025–26 (Apr-Mar) for the quarter ended March. However, a sharp rise in expenses, particularly in the costs of raw materials and components, limited the growth in its bottom line, which rose at its slowest pace in over three years. The company attributed the sharp rise in its top line to higher demand in the automotive market.
The company's net profit for the March quarter rose just 2.7% on year to INR 5.69 billion. This was lower than Motilal Oswal Financial Services Ltd.'s estimate of INR 6.20 billion and Batlivala & Karani Securities India Pvt. Ltd.'s projection of INR 6.02 billion. The company's revenue for the first three months of 2026 rose over 13% on year to INR 55.66 billion. Its "other income" fell nearly 34% to INR 1.56 billion.
The company's total expenses rose 12.5% on year to INR 49.14 billion, their fastest pace in FY26. The cost of materials consumed rose nearly 29% on year to INR 13.52 billion. This was the sharpest rise in this metric in 14 quarters. A 12.5% rise in purchase cost of stock-in-trade to INR 22.19 billion also hamstrung the company's bottom-line performance. Meanwhile, costs classified under "other expenses" fell nearly 9% to INR 7.09 billion. Employee benefit expenses rose over 5% to INR 4.44 billion. The company's earnings before interest, tax, depreciation, and amortisation rose nearly 21% to INR 7.82 billion.
Significant growth in Bosch's automotive products business helped with the company's top-line growth. The segment's sales rose over 17% on year to INR 48.75 billion. Sequentially, the segment reported growth of over 10%. The consumer goods segment revenue rose to INR 6.18 billion, up over 14% on year. The mobility segment sales rose over 23% on year. The revenue of the power solutions segment rose over 27% and the two-wheeler segment reported sales growth of over 63% on year, according to an investor presentation. The company said two-wheeler business sales rose sharply on the back of higher exhaust gas sensor sales.
Bosch said it produced 2.63 million units across its product range in the March quarter. However, it has guided for a lower production volume of 2.22 million units in the June quarter. "FY26 has been a year of strong revenue growth driven by increased production volumes in automotive segment, mainly passenger cars and tractors," Guruprasad Mudlapur, managing director of the company, said. "This performance, achieved amidst ongoing supply chain challenges, testifies to our operational agility. Our new joint venture with Tata AutoComp, announced in the last quarter, positions us well to drive future growth in e-mobility and keep pace with the industry's evolving demands."
The board of Bosch also approved a joint venture agreement with Wheels India Ltd. and Brakes India Pvt. Ltd. The trio is forming this joint venture to develop and produce solutions for air system management in commercial vehicles, among other products. According to the terms of the agreement, the three companies will subscribe to shares of the joint venture company such that Bosch will hold 50% and the two others will collectively hold 50%.
Bosch will pay INR 270 per share dividend to its shareholders, which will be the final such payout for FY26. The record date for the final dividend has been set as Aug. 4. For FY26, the company's net profit rose nearly 38% on year to INR 27.70 billion and its revenues rose almost 11% to INR 200.35 billion.
The company reported its March quarter earnings after market hours Wednesday. Its shares ended almost 1% lower from Tuesday at INR 36,830 on the National Stock Exchange. End
Edited by Rajeev Pai
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