Bosch India (BOSCHLTD) Q2 24/25 earnings summary

Executive summary

• Revenue from operations grew 6.4% year-over-year in Q2 FY25, driven by mobility aftermarket, power solutions, and consumer goods segments.

• EBITDA margin improved to 12.8% in Q2 FY25 from 11.9% in Q2 FY24, reflecting better material cost management and product mix.

• Profit after tax margin was 12.2% in Q2 FY25, lower than last year due to a prior exceptional gain; current quarter included a smaller exceptional item.

• The company remains well-prepared for regulatory transitions and anticipates steady growth in line with FY24.

• Profit before tax (excluding exceptional items) rose 27.3% year-over-year to INR 677 crores.

Financial highlights

• Q2 FY25 revenue: INR 43,943 million, up from INR 41,301 million in Q2 FY24.

• Q2 FY25 EBITDA: INR 5,359 million, up from INR 4,913 million in Q2 FY24.

• Q2 FY25 profit after tax: INR 5,359 million, compared to INR 9,989 million in Q2 FY24, reflecting the impact of exceptional items.

• Standalone net profit margin (including exceptional items) was 12.2%.

• Earnings per share for the quarter were INR 181.99, up from INR 158.09 in the previous quarter.

Outlook and guidance

• Growth in 2025 expected to mirror 2024, with ongoing monitoring and adaptation to market changes.

• Management anticipates sustained demand across segments in the next quarter, supported by the festive season and ongoing investments in advanced technologies and localization.

• FY2025 automotive production outlook ranges from 4.86 to 5.02 million vehicles.

• CapEx for FY25 guided at around INR 4,000 million, slightly lower than last year due to completion of major projects.

• CV industry expected to remain muted in the near term; export growth seen as a long-term opportunity.