Bosch Q1 Revenue Rises 22% as Mobility Business Grows 25.7%

Bosch Ltd reported a 22% year-on-year increase in revenue from operations to Rs 5,841.9 crore in the first quarter of FY27, supported by strong growth across its Mobility businesses.

Revenue increased from Rs 4,788.6 crore in the corresponding quarter last year, while the company's Mobility business grew 25.7% year-on-year.

Power Solutions grew 29% during the April-June quarter, with Bosch saying it outperformed market growth across passenger vehicles, commercial vehicles, off-highway vehicles and tractors.

During the company's Q1 earnings call, management attributed the performance largely to higher volumes, along with new product introductions over the previous two quarters.

“We've sort of outperformed the growth across all our segments, right from passenger cars to off-highway and tractors,” management said.

Bosch also expects upcoming regulations to provide further opportunities for Power Solutions. Management highlighted the upcoming CAFE 3 regulations, saying they “should be an even better boost” for the business.

It also pointed to upcoming regulations in the commercial vehicle segment as another area where it expects growth opportunities.

Two-Wheeler Business Grows 41.4% on Market Share Gains

Bosch's two-wheeler and powersports business grew 41.4% year-on-year during the quarter.

Management said Bosch had gained market share in the segment, supported by new product introductions with OEMs.

“We've gained market share, yes. There are some new products introduced to new OEMs, so we've gained market share,” management said during the earnings call.

Mobility Aftermarket grew 9.6% year-on-year. Bosch said the improvement followed changes to its strategy and approach to the market after a period of relatively lower growth last year.

The company has expanded its aftermarket portfolio across areas including lubricants, batteries, braking systems, diagnostic equipment, LED lighting, clutches and suspension systems. It is also expanding its workshop network.

Bosch said it believes the improved trajectory of the aftermarket business can be sustained over the coming period.

Bosch EBITDA Rises 28%, but Profit Falls 37% on High Base

Bosch reported EBITDA of around Rs 818 crore during the quarter, an increase of about 28% year-on-year from Rs 639.3 crore in Q1 FY26.

EBITDA margin stood at around 14%, compared with 13.4% in the corresponding quarter last year.

Management attributed the improvement in profitability to operational efficiencies, increasing localisation, higher volumes, productivity improvements and a favourable product mix.

Bosch also said its global purchasing organisation was helping the company manage volatility in sourcing markets.

Profit after tax stood at Rs 701.8 crore, compared with Rs 1,115.4 crore in the corresponding quarter last year, a decline of 37.1%.

The year-on-year comparison was affected by an exceptional gain in Q1 FY26. The previous-year quarter included a pre-tax exceptional gain of Rs 556 crore related to the transfer of Bosch's Video Solutions, Access and Intrusion and Communication Systems business.

Bosch Bets on Volumes, New Products and CV ADAS for Growth

Looking beyond the quarter, Bosch expects vehicle volumes, new product introductions, product mix and new technologies to support its growth over the next three to five years.

Management said it expects increasing volumes across its Mobility portfolio and also identified commercial vehicle ADAS as a new technology opportunity, with activity expected to pick up from next year.

Bosch also expects combustion technologies to continue seeing volume growth in India over the coming years, even as electrification expands.

“There is also a momentum which will carry the combustion technologies forward, including maybe some alternative fuels. This progression will continue in the next many years to come,” management said.

At the same time, Bosch said EV technologies are already part of its Mobility business in terms of technology, products and future plans, although their contribution is not yet significant in revenue terms.

The company highlighted its proposed joint venture with Tata AutoComp Systems for electric axles. The joint venture is going through regulatory approvals and is expected to operate from Nashik, with Bosch indicating that revenue should begin towards the latter part of next year.

Bosch Chassis Systems Business to Reflect From Q2

Bosch's recently acquired Chassis Systems business will start reflecting in its consolidated results from the current quarter following completion of the transaction in July.

Management described the business as a powertrain-agnostic addition to Bosch Ltd's portfolio and said it has a strong project pipeline, good market share and healthy profitability.

Bosch said it sees limited cost synergies from the transaction, with the strategic benefit instead coming from adding a powertrain-agnostic product portfolio to the listed company.

For the next three to five years, Bosch expects a combination of higher vehicle volumes, new products, changes in product mix and new technology introductions to support its revenue growth.