Bosch India (BOSCHLTD) Q1 24/25 earnings summary

Executive summary

• Revenue from operations for Q1 FY25 increased by 3.8% year-over-year to INR 43,168 million, driven by growth in automotive, Mobility Aftermarket, Power Solutions, and Consumer Goods segments.

• EBITDA rose by 11.1% year-over-year, with margin improvement attributed to higher revenue and cost control in new business areas.

• Profit After Tax grew by 13.8% year-over-year, with PAT margin rising to 10.8% of revenue.

• The company is focusing on localization, technology upgrades, and expanding exports, with strategic investments in hydrogen engines, alternate fuels, and new production lines.

• India is now a standalone region for Power Tools, managing the SAARC region (excluding Pakistan), with exports from Chennai.

Financial highlights

• Revenue from operations for April-June 2024 was INR 43,168 million, up 3.8% year-over-year.

• EBITDA for the quarter was INR 5,197 million, up 11.1% year-over-year; EBITDA margin improved from 11.3% to 12%.

• Profit After Tax for the quarter was INR 4,655 million, with PAT margin at 10.8%.

• Earnings per share (basic and diluted) for the quarter were INR 157.83, up from INR 138.69 in Q1 FY 2023-24.

• Total comprehensive income for the quarter was INR 6,154 million, up from INR 4,829 million year-over-year.

Outlook and guidance

• Moderate growth is expected for FY25 due to election year dynamics, high base effects, and inventory buildup.

• The company maintains its full-year growth outlook, with Q1 performance in line with forecasts.

• FY25 vehicle production forecast ranges from 4.92 to 5.02 million units, indicating continued growth.

• The company aims to capitalize on alternate fuel technologies and electric vehicles for future growth.

• CapEx will be aligned with feasible and profitable localization opportunities.