Bosch India (BOSCHLTD) Q3 24/25 earnings summary

Executive summary

• Revenue from operations increased 6.2% year-over-year in Q3 FY25, reaching INR 44,657 million, driven by strong growth in Mobility Aftermarket, Two-Wheeler, and Consumer Goods segments.

• EBITDA for Q3 FY25 was INR 5,826 million, up 0.7% year-over-year, with margin improvement attributed to product mix and material cost reductions.

• Profit after tax for Q3 FY25 was INR 4,582 million, or 10.3% of revenue, down from 12.3% a year ago, mainly due to a one-time restructuring provision.

• The Board approved the sale of the Building Technologies business for at least INR 595 crores as part of a global realignment.

• Automotive industry grew 3% year-over-year in Q3 FY25, with optimism for the next quarter due to expected rebound in key segments.

Financial highlights

• Q3 FY25 revenue from operations was INR 44,657 million, up from INR 42,052 million in Q3 FY24; nine-month revenue was INR 131,768 million, up 5.5% year-over-year.

• EBITDA for Q3 FY25 was INR 5,826 million, up from INR 5,784 million in Q3 FY24; nine-month EBITDA was INR 19,260 million, up from INR 17,825 million.

• Profit after tax for Q3 FY25 was INR 4,582 million, down from INR 5,181 million in Q3 FY24; nine-month PAT was 11.1% of revenue, down from 15.4% due to prior year’s exceptional gains.

• Exceptional items included a restructuring provision of INR 471 million for competitiveness in the mobility business.

• Standalone EPS for Q3 FY25 was INR 155.37, compared to INR 175.69 in Q3 FY24.

Outlook and guidance

• Expectation of shallow RBI rate cuts in 2025 to support growth.

• Aftermarket business expected to grow 8%-10% in FY26.

• Management anticipates a better upcoming quarter due to cyclicality and focus on advanced automotive solutions.

• Production outlook for FY2025 projects total vehicle production at 5.04 million units.