Source: Bosch Limited Annual Report 2025-26
Quick Facts / Company Snapshot
| Parameter | Details |
|---|---|
| Company Name | Bosch Limited |
| BSE Scrip Code | 500530 |
| NSE Symbol | BOSCHLTD |
| Corporate Identity Number (CIN) | L85110KA1951PLC000761 |
| ISIN | INE323A01026 |
| Incorporation Date | November 12, 1951 |
| Headquarters / Registered Office | Hosur Road, Adugodi, Bengaluru – 560 030, Karnataka, India |
| Chairman | Soumitra Bhattacharya |
| Managing Director & CTO | Guruprasad Mudlapur |
| Joint Managing Director | Sandeep Nelamangala |
| Chief Financial Officer | Karin Gilges |
| Company Secretary & Compliance Officer | V. Srinivasan |
| Statutory Auditor | Messrs. S.R. Batliboi & Associates LLP |
| Standalone Revenue from Operations (2025–26) | `200,347 Million |
| Standalone Profit After Tax (2025–26) | `27,703 Million |
| Standalone Total Equity / Net Worth (As on March 31, 2026) | `148,467 Million |
| Standalone Total Assets (As on March 31, 2026) | `216,812 Million |
| Basic Earnings Per Share (Standalone 2025–26) | `939.28 |
| Final Dividend Recommended per Share (2025–26) | `270 |
| Permanent Employees on Rolls (As on March 31, 2026) | 6,087 |
Source: Bosch Limited Annual Report 2025-26
Company Overview
Bosch Limited is a publicly listed Indian enterprise domiciled in India and operating as a flagship stepdown subsidiary of Robert Bosch GmbH, Germany. Operating from its historic corporate base in Adugodi, Bengaluru, the company functions as a primary driver of automotive technology, industrial technology, consumer goods, and energy and building technology within the subcontinent. India hosts the global Bosch Group’s largest development center located outside of Germany, providing end-to-end engineering competencies across software development, automotive electronics, and advanced mechanical architectures.
Across India, the broader Bosch network operates through 19 entities that combine German engineering practices with local manufacturing, software talent, and market scale. In fiscal year 2025–26, the collective Bosch India setup (excluding BSH Home Appliances) generated a total net revenue of `402,530 million and employed 37,131 associates as of March 31, 2026. For Bosch Limited as a standalone entity, operations achieved an aggregate revenue from operations of `200,347 million (`20,034 Crores), representing a year-on-year growth of 10.8 percent compared to `180,874 million in 2024–25.
The company operates an extensive manufacturing footprint across India, anchored by key plants located at Bidadi (Karnataka), Nashik (Maharashtra), Jaipur (Rajasthan), Gangaikondan (Tamil Nadu), Naganathapura (Karnataka), and Oragadam, Chennai (Tamil Nadu). These manufacturing centers are backed by high-capacity research, application, and testing facilities serving domestic original equipment manufacturers (OEMs), the independent aftermarket, and global supply chains.
Central operational and corporate milestones during the 2025–26 fiscal year include:
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- Total Standalone Revenue: Delivered `200,347 million in total revenue from operations, with sale of products reaching `190,853 million.
- Net Profitability: Generated a standalone profit after tax of `27,703 million, including an exceptional net gain of `5,560 million from portfolio restructuring.
- Strategic In-House Acquisition: Board and shareholder approval for the 100% equity acquisition of Bosch Chassis Systems India Private Limited (RBIC) for an amount not exceeding `9,068.68 Crores.
- Clean Balance Sheet: Maintained a zero-debt capital structure, supported by total standalone cash, bank balances, and liquid financial investments of `83,838 million.
- Sustainability Milestones: Achieved 100% renewable electricity coverage across operations through 26.11 GWh of in-house solar generation and 137.81 GWh of purchased green power and I-RECs.
Business Segments
The company classifies its operational and business architecture into two primary overarching divisions: Mobility Business (automotive products and engineering solutions) and Businesses Beyond Mobility (non-automotive solutions covering power tools, industrial technology, and building fire safety systems).
In fiscal year 2025–26, the Mobility Sector constituted 89.4 percent of the company’s total sales, while Business Beyond Mobility accounted for 10.6 percent. Segment performance, revenues, and operating earnings are presented in the company’s financial segment disclosures across three primary reporting segments: Automotive Products, Consumer Goods, and Others.
| Segment Name | External Turnover 2025–26 (` in Million) | % of External Turnover (2025–26) | External Turnover 2024–25 (` in Million) | Segment Result / EBIT 2025–26 (` in Million) | Segment Result / EBIT 2024–25 (` in Million) |
|---|---|---|---|---|---|
| Automotive Products | 178,074 | 88.88% | 155,489 | 25,570 | 22,467 |
| Consumer Goods (Power Tools) | 18,360 | 9.16% | 17,251 | 1,216 | 1,130 |
| Others | 3,913 | 1.95% | 8,134 | 1,139 | 1,294 |
| Total Segment External Turnover | 200,347 | 100.00% | 180,874 | 27,925 | 24,891 |
Source: Bosch Limited Annual Report 2025-26, Note 33 (Segment Information). Percentage shares calculated by FirmsWorld.
Automotive Products (Mobility Business)
The Automotive Products segment represents the core operating engine of Bosch Limited, covering internal combustion engine systems, gasoline and common-rail diesel injection hardware, exhaust sensors, power electronics, and automotive aftermarket channels. External turnover climbed 14.52 percent year-on-year to `178,074 million in 2025–26 from `155,489 million in 2024–25, generating a segment operating result of `25,570 million.
Operational units functioning within this segment include:
- Power Solutions (PS): Expanded by 17.6 percent year-on-year, driven by broad-based vehicular demand following GST adjustments and higher OEM vehicle production volumes. The division integrated Thermal Systems and Commercial Vehicle/Off-Road (CV/OR) technologies.
- Two-Wheeler & Powersports (2WP): Recorded a surge of 69.1 percent in revenue, driven by the regulatory implementation of On-Board Diagnostics II (OBD-II) norms effective April 1, 2025, which mandated high-volume rollouts of heated Lambda exhaust sensors (LSFmh).
- Mobility Aftermarket (MA): Reached its highest-ever operational revenue, posting a 3.7 percent expansion over the previous fiscal period. The Independent Aftermarket (IAM) channel represented 60.5 percent of total MA revenue, while the Original Equipment (OE) block grew by 14.0 percent.
Consumer Goods (Power Tools)
The Consumer Goods division encompasses the development, manufacturing, import, and distribution of professional power tools, accessories, measuring technology, garden tools, and personal protective equipment. In 2025–26, segment external turnover grew 6.43 percent to `18,360 million compared to `17,251 million in 2024–25, yielding an operating result of `1,216 million.
The global tools category (drills, rotary grinders, cutters) constituted 54.8 percent of the total power tools revenue, growing 6.0 percent year-on-year. Tool accessories accounted for 28.8 percent of the division’s revenue, expanding by 3.6 percent. Locally manufactured tools produced at the Chennai plant generated 28 percent of total domestic tool sales and contributed 10 percent to division EBIT.
Others (Building Technologies & Industrial Technology)
The Others segment comprises industrial technology solutions, special purpose machinery, and building safety infrastructure. External turnover contracted from `8,134 million in 2024–25 to `3,913 million in 2025–26, reflecting the planned divestment and slump sale of the Video Solutions, Access & Intrusion, and Communication Systems business lines completed on May 01, 2025. The division delivered a segment operating profit of `1,139 million, focusing forward operations exclusively on engineered fire protection and intelligent detection systems.
History and Evolution
Bosch’s industrial presence in India traces its origins to 1951, when operations commenced through the Motor Industries Company Limited (MICO), establishing localized engineering and precision machining for fuel injection equipment. Over more than seven decades, the company evolved in lockstep with the Indian industrial landscape, establishing dedicated manufacturing facilities in Bangalore, Nashik, and across central and southern India.
Key evolutionary phases include:
- 1951: Foundation of operations in India, establishing precision production bases for commercial vehicle and tractor fuel injection pumps.
- 1972: Inception of the Nashik manufacturing plant in Maharashtra, expanding localized production of common rail injectors, diesel injector nozzles, and high-precision fluid dynamics assemblies.
- 1999: Establishment of the Jaipur lead plant in Rajasthan, creating a specialized manufacturing center for distributor-type VE pumps and conventional nozzle holder assemblies.
- 2004: Execution of a share capital sub-division, reducing the nominal face value of ordinary equity shares from `100 to `10 per share.
- 2015: Commercial launch of the Oragadam power tools facility in Chennai, Tamil Nadu, developing high-volume localized production for corded drills, grinders, and blowers.
- 2020: Transition to BS-VI emission architectures and achievement of Scope 1 and Scope 2 operational carbon neutrality across manufacturing locations.
- 2025–2026: Slump sale divestment of security communication product lines to Keenfinity India Private Limited for `5,950 million, the entry into two new mobility joint ventures (TACO and Wheels India/Brakes India), and the board-approved acquisition of Bosch Chassis Systems India Private Limited for up to `9,068.68 Crores.
Products and Services
Bosch Limited operates an integrated hardware and software engineering portfolio tailored to passenger vehicles, commercial haulage, agricultural tractors, construction machinery, and retail technical trades.
| Product / Service Classification | Key Components & Operational Applications | Financial Disclosures & Share (2025–26) |
|---|---|---|
| Automotive Powertrain & Fuel Injection Systems | Common rail injectors (CRI), nozzle holder assemblies, fuel rail systems, high-pressure pumps (CP1, CP1H), distributor VE pumps. | Manufactured goods under CETA 8409 & 8413; primary contributor to `170,618 Million automotive product sales. |
| Exhaust Gas Treatment & Emission Sensors | Lambda oxygen sensors (mini-heated LSFmh), nitrogen oxide (NOx) sensor lines, exhaust temperature sensors. | Primary driver of 69.1% growth in 2-Wheeler division due to nationwide OBD-II compliance. |
| Automotive Aftermarket Parts & Consumables | Synthetic engine oils, commercial vehicle brake liners, automotive batteries, wiper blades, spark plugs, filters, drive belts. | Generates 60.5% of Mobility Aftermarket revenue via 50,000+ retail touchpoints. |
| Diagnostic Hardware, Software & Services | Diagnostics Amplifier Project (DAP) tools, ECU calibration software, workshop cloud diagnostic suites. | Supported service networks across 1,500+ authorized workshops and service stations. |
| Professional Power Tools & Accessories | Cordless power tools, BITURBO brushless tools, ProCORE18V+ tabless battery systems, angle grinders, marble cutters, drills. | `18,356 Million in product sales; cordless tool line generated `1,700 Million in sales. |
| Measuring Tools & Artisan Hand Tools | Digital laser measures, thermal detectors, inspection cameras, hand tool range for artisans and DIY users. | Measuring category grew 12% in 2025–26, with thermal & detection lines growing 35%. |
| Fire Safety Systems | Fire alarm control panels, smoke detectors, AI-enabled flame sensors, Safety Systems Designer software suites. | `1,879 Million in product sales within Others segment post-restructuring. |
| Engineering & Application Services | Custom ECU calibration, vehicle software integration, powertrain validation testing for domestic OEMs. | `5,094 Million in external service revenue in standalone accounts. |
Source: Bosch Limited Annual Report 2025-26, Notes 20, 32, and 33.
Brand Portfolio
The company markets its products and solutions through distinct, globally recognized brand lines tailored to industrial users, automotive manufacturers, and technicians:
- Bosch: Serves as the principal corporate and commercial brand across internal combustion injection hardware, electronic sensors, common-rail components, industrial filtration, professional power tools, and building fire safety systems.
- Bosch Car Service (BCS): Identifies the franchised multi-brand vehicular workshop network comprising service locations across India catering to vehicle maintenance, electronic diagnostics, and mechanical repairs.
- Bosch Diesel Service: Operates as the specialized workshop network focused on common-rail diesel injection pumps, injector testing, precision calibration, and overhaul.
- Zexel: Specialized diesel fuel-injection system architecture, with VE pump manufacturing lines being systematically transferred from Higashimatsuyama, Japan to the Jaipur facility through 2026.
- BITURBO Brushless & ProCORE18V+: High-output cordless professional tool platforms utilizing electronic brushless motors and high-discharge tabless lithium-ion battery architectures.
Geographical Presence
Bosch Limited operates across India with a diversified manufacturing, engineering, and logistics network serving 35 States and Union Territories, alongside export sales to 31 international destinations.
| Geographic Market / Channel | External Revenue 2025–26 (` in Million) | % of External Revenue (2025–26) | External Revenue 2024–25 (` in Million) |
|---|---|---|---|
| Domestic (India) | 184,057 | 91.87% | 165,475 |
| Export (International Markets) | 16,290 | 8.13% | 15,399 |
| Total External Revenue | 200,347 | 100.00% | 180,874 |
Source: Bosch Limited Annual Report 2025-26, Note 33 (Segment Information). Percentage breakdown calculated by FirmsWorld.
Operational Manufacturing Locations in India
- Bidadi Plant (BidP), Karnataka: Spanning 98 acres in Ramanagara district near Bengaluru, this flagship manufacturing facility produces conventional A-Pumps, Glow Plugs, Lambda oxygen sensors, and newly established nitrogen oxide (NOx) sensor lines.
- Nashik Plant (NaP), Maharashtra: Operating across 100 acres in the Satpur MIDC Industrial Area, this site serves as the primary production hub for Common Rail Injectors (CRI, CRIN) and diesel injector nozzles.
- Jaipur Plant (JaP), Rajasthan: Established at Sitapura Industrial Area, this facility operates as the lead international plant for distributor-type VE pumps and conventional Nozzle Holder Assemblies (NHA).
- Gangaikondan Plant (GanP), Tamil Nadu: Located in the SIPCOT Industrial Centre in Tirunelveli district, this multi-product facility manufactures fuel delivery modules and emission control components.
- Naganathapura Plant (NhP), Karnataka: Located near Electronic City in Bengaluru, this plant produces spark plugs and automotive filters, including locally developed platinum electrode spark plugs.
- Chennai Power Tools Plant (ChiP), Tamil Nadu: Spanning 7,000 square meters in Oragadam, Kancheepuram, this facility serves as the manufacturing base for corded angle grinders, rotary hammers, marble cutters, and blowers.
Commercial and Zonal Network
The company coordinates national distribution through four Regional Zonal Offices in New Delhi (North), Kolkata (East), Mumbai (West), and Chennai (South), backed by corporate headquarters in Adugodi, Bengaluru. Power tools sales and service centers operate in regional trade hubs including Ahmedabad, Surat, Pune, Hyderabad, Secunderabad, Raipur, Bhubaneswar, Lucknow, Ghaziabad, Mohali, and Guwahati.
Board of Directors and Leadership Team
The Board of Directors of Bosch Limited is composed of eight members, comprising six non-executive directors (including four independent directors and two women directors) and two executive directors. The composition aligns with Indian regulatory standards, maintaining 50 percent independent board representation.
| Director Name | Board Role & Designation | DIN | Committee Memberships within Bosch Limited |
|---|---|---|---|
| Soumitra Bhattacharya | Chairman, Non-Executive Non-Independent Director | 02783243 | Audit, NRC, SRC, CSR |
| Guruprasad Mudlapur | Managing Director & Chief Technology Officer | 07598798 | SRC, CSR, RMC |
| Sandeep Nelamangala | Joint Managing Director | 08264554 | RMC |
| Stefan Grosch | Non-Executive Non-Independent Director | 10145827 | Audit, NRC, RMC |
| Hema Ravichandar | Non-Executive Independent Director | 00032929 | Audit, NRC (Chair), CSR |
| Dr. Gopichand Katragadda | Non-Executive Independent Director | 02475721 | Audit, NRC, SRC (Chair), CSR (Chair) |
| Dr. Pawan Kumar Goenka | Non-Executive Independent Director | 00254502 | Audit, NRC, RMC (Chair) |
| Padmini Khare | Non-Executive Independent Director | 00296388 | Audit (Chair), NRC, SRC, RMC |
Source: Bosch Limited Annual Report 2025-26, Corporate Governance Report. (NRC: Nomination and Remuneration Committee; SRC: Stakeholders’ Relationship Committee; CSR: Corporate Social Responsibility Committee; RMC: Risk Management Committee).
Executive and Independent Profiles
- Soumitra Bhattacharya (Chairman): Chartered Accountant who completed article-ship with Price Waterhouse. Traversed 28 years within the Bosch Group, serving as CFO (2011–2016), Joint Managing Director (2012–2016), and Managing Director and Regional President (2017–2023) until retiring on June 30, 2023.
- Guruprasad Mudlapur (Managing Director & CTO): Holds a bachelor’s degree in Electronics Engineering from Bangalore University and completed the Executive General Management Programme at IIM Bangalore. Joined Bosch in 2008 following 15 years with NXP Semiconductors across Singapore and the Netherlands.
- Sandeep Nelamangala (Joint Managing Director): Holds a degree in Mechanical Engineering from the University of Mysore. Associated with Bosch since 1992 as a Technical Graduate Trainee, previously serving as Regional President of Gasoline Systems and Executive Director of Bosch Limited.
- Stefan Grosch (Director): Member of the Board of Management and Director of Industrial Relations at Robert Bosch GmbH since April 1, 2023. Holds business administration credentials from the University of Cologne and ESADE Barcelona.
- Dr. Pawan Kumar Goenka (Independent Director): Mechanical engineer from IIT Kanpur, holder of a Ph.D. from Cornell University, and Harvard Business School AMP graduate. Former Managing Director and CEO of Mahindra & Mahindra Ltd. (retired April 2021) and Chairman of IN-SPACe.
- Hema Ravichandar (Independent Director): Holds a BA in Economics from Stella Maris College and an MBA/PGDM from IIM Ahmedabad. Former Senior Vice President and Global Head of HR for Infosys Limited with over 40 years of advisory experience.
- Padmini Khare (Independent Director): Managing Partner of B.K. Khare & Co., Chartered Accountant (ICAI), Certified Public Accountant (USA), and Diploma holder in Business Finance from ICFAI.
- Dr. Gopichand Katragadda (Independent Director): Founder and CEO of Myelin Foundry, former Group CTO of Tata Sons (until January 2019), and former MD of GE India Technology Centre. Holds BE from Bangalore University, and MS and Ph.D. in Electrical Engineering from Iowa State University.
Key Managerial and Senior Management Personnel
- Karin Gilges: Chief Financial Officer and Chief Risk Officer; designated Alternate Director to Stefan Grosch.
- V. Srinivasan: Company Secretary and Compliance Officer.
- Tillmann Olsen: Incoming Chief Financial Officer appointed to succeed Karin Gilges.
- Dr.-Ing. Hüseyin Özmeral: Executive Vice President – Manufacturing and Quality.
- Anjan Kumar: Regional President – Power Solutions Division.
- Sanmay Dasgupta: Regional President – Power Tools India (effective February 06, 2026, succeeding Nishant Sinha).
- Reethi Sethi: Regional President – Mobility Aftermarket India and Senior Vice President.
“Against this backdrop, Bosch Limited delivered a strong performance. Revenue from operations grew by 10.8 percent over the previous year, reaching `20,034 Crores, reflecting the resilience of our core business, the trust of our customers and partners, and the commitment of our associates.”
— Soumitra Bhattacharya, Chairman, Bosch Limited
“Our strength lies in combining Bosch’s global technology leadership with India’s engineering depth, manufacturing capability, and market proximity. This enables us to serve domestic customers with greater relevance while contributing meaningfully to global value chains.”
— Guruprasad Mudlapur, Managing Director & Chief Technology Officer, Bosch Limited
Founders
The enterprise traces its parentage to Robert Bosch (1861–1942), who established the “Workshop for Precision Mechanics and Electrical Engineering” in Stuttgart, Germany, in 1886. The foundational corporate ethos, defined by the guiding philosophy “Invented for Life,” remains embedded across global operations.
Robert Bosch structured the ownership of the business to ensure institutional independence, long-term research commitment, and philanthropic continuity. Today, 94 percent of the share capital of the ultimate parent, Robert Bosch GmbH, is held by Robert Bosch Stiftung GmbH, a charitable foundation. Voting control (93 percent) is held by Robert Bosch Industrietreuhand KG, which safeguards entrepreneurial autonomy separate from public equity fluctuations.
Parent: Robert Bosch GmbH
Robert Bosch GmbH is a global supplier of technology and services headquartered in Gerlingen, Germany. As of December 31, 2025, the Bosch Group employed approximately 413,000 associates across roughly 500 subsidiaries and regional operating entities in over 60 countries. In the calendar year 2025, the parent entity generated global sales revenue of EUR 91.0 billion (`8,958 billion) and an EBIT of EUR 1.4 billion (`137 billion).
Globally, the Group deploys 82,000 associates in research and development. In India, Robert Bosch GmbH exercises indirect control over Bosch Limited, holding an aggregate 70.54 percent ownership stake through Robert Bosch Internationale Beteiligungen AG (67.76 percent) and Bosch Global Software Technologies Private Limited (2.78 percent).
Future Strategy
Management has structured the company’s operating strategy around the theme “Powering Tomorrow. Together,” focusing on four core strategic cornerstones:
- Mobility Efficiency: Optimizing fuel systems, fleet operations, and freight logistics through intelligent hardware-software integration.
- Advanced Safety: Localizing Advanced Driver Assistance Systems (ADAS) and electronic braking architectures engineered for Indian driving environments.
- Propulsion Energy: Executing a multi-powertrain pathway supporting advanced internal combustion, CNG, ethanol blends (E20 to E85), hydrogen combustion, and battery electric systems.
- Consumer Driven: Aligning product portfolios with domestic consumption trends, cordless power tool adoption, and enhanced vehicle content per vehicle.
Key Strategic Initiatives
- Acquisition of Bosch Chassis Systems India (RBIC): Approved acquisition of 100% equity in RBIC for up to `9,068.68 Crores using internal cash reserves to integrate electronic braking and chassis safety with powertrain systems.
- Joint Venture with Tata AutoComp Systems (TACO): A 50:50 joint venture with a planned aggregate equity contribution of `94 Crores to develop and manufacture electric axles (eAxles) and traction motors in Pune.
- Commercial Vehicle Air Systems Joint Venture: A 50:50 joint venture partnership with TSF Group companies (Wheels India and Brakes India) to develop electronic air brake systems.
- Hydrogen Internal Combustion Infrastructure: Commissioned hydrogen component testing infrastructure supporting Ministry of New and Renewable Energy (MNRE) pilot projects.
- Digital Platform Integration & VISM.ai: Deployment of the VISM.ai (Value driven Innovation & Strategic Management of AI) ecosystem to accelerate embedded code generation and shopfloor vision inspection.
- Production Footprint Consolidation: Transfer of Zexel-design VE pump manufacturing lines from Higashimatsuyama, Japan to the Jaipur plant by late 2026.
Key Strengths
- Market-Leading Powertrain Position: Primary supplier of Common Rail Injectors, high-pressure pumps, and exhaust gas sensors to domestic commercial vehicle, tractor, and passenger vehicle OEMs.
- Debt-Free Financial Position: Zero external bank borrowings, with total standalone cash and liquid investments of `83,838 million supporting the `9,068.68 Crore acquisition of RBIC through internal cash reserves.
- Localized Manufacturing Depth: Exceeding 70% component localization and 74% product localization at the Chennai power tools facility, and local series production of Platinum electrode spark plugs at Naganathapura.
- Parent Group Synergies: Technical and financial backing from Robert Bosch GmbH, providing access to proprietary R&D platforms and corporate parent guarantees covering intercorporate loan facilities.
- Operational Sustainability & ZLD: Certified ISO 14001 and ISO 45001 operations across all manufacturing sites, achieving Zero Liquid Discharge (ZLD) and 98.6% waste diversion from landfills in 2025–26.
Key Challenges and Risks
The company operates in a cyclical automotive sector subject to evolving technological and macroeconomic risks evaluated by the Risk Management Committee:
- Macroeconomic & Currency Volatility: Pressures arising from Indian Rupee depreciation against the Euro and US Dollar, coupled with raw material and electronic component price inflation. Standalone net foreign currency liability exposure stood at `10,250 million in EUR and `3,671 million in USD as of March 31, 2026.
- Technology Transition Costs: Balancing legacy internal combustion manufacturing assets against capital expenditures required for electric mobility and software-defined platforms.
- Supply Chain Dependencies: Risks associated with global semiconductor lead times and trade restrictions on critical raw materials and rare earth minerals.
- Cybersecurity & Data Governance: Increasing exposure to sophisticated threats across connected plant environments, mitigated through ISO 27001:2022 certifications and TISAX level 3 assessments.
- Contingent Liabilities & Tax Litigation: Outstanding disputed tax claims not acknowledged as debts totaling `3,984 million under the Goods and Service Tax Act, `3,458 million under the Customs Act, and `453 million under the Income Tax Act as of March 31, 2026.
- Internal Control Incidents: Disclosed misappropriation of funds by certain employees in collusion with vendors estimated at `16 million across the current and prior years, fully expensed in the accounts.
Conclusion and Strategic Outlook
Bosch Limited concluded fiscal year 2025–26 with standalone revenue from operations surpassing `20,000 Crores (`200,347 million) and total comprehensive income reaching `25,391 million. Operational momentum was supported by a 12.2 percent year-on-year recovery in domestic 4-wheeler production and demand for OBD-II compliant Lambda sensors.
The proposed acquisition of Bosch Chassis Systems India Private Limited, combined with new joint ventures in electric mobility and braking systems, establishes an integrated powertrain, safety, and software architecture. Backed by a debt-free balance sheet and cash flow generation, Bosch Limited remains positioned to navigate India’s multi-powertrain transition.
Official Site
For more corporate details, reports, and statutory filings, visit the official corporate portal: https://www.bosch.in.
Profit and loss
Bosch Limited operates across automotive and non-automotive industrial segments, reporting financial performance under Standalone and Consolidated accounts in accordance with Indian Accounting Standards (Ind AS). For the financial year ended March 31, 2026, the company recorded robust revenue expansion driven by core mobility applications, regulatory transitions, and industrial manufacturing solutions.
Standalone and Consolidated Statement of Profit and Loss
The table below provides a comprehensive line-item view of financial results for the year ended March 31, 2026, alongside comparative figures for the preceding financial year ended March 31, 2025.
| Particulars (` in Millions) | Standalone FY 2025–26 | Standalone FY 2024–25 | Consolidated FY 2025–26 | Consolidated FY 2024–25 |
|---|---|---|---|---|
| Sale of Products | 190,853 | 169,316 | 190,853 | 169,316 |
| Sale of Services | 5,094 | 7,504 | 5,094 | 7,504 |
| Other Operating Revenue | 4,400 | 4,054 | 4,400 | 4,054 |
| Revenue from Contracts with Customers | 200,347 | 180,874 | 200,347 | 180,874 |
| Other Income | 8,543 | 8,142 | 8,540 | 8,139 |
| Total Income | 208,890 | 189,016 | 208,887 | 189,013 |
| Cost of Raw Material and Components Consumed | 49,002 | 40,588 | 49,002 | 40,588 |
| Purchases of Traded Goods | 79,870 | 74,360 | 79,870 | 74,360 |
| (Increase) / Decrease in Inventories of Finished Goods, WIP and Traded Goods | (876) | (313) | (876) | (313) |
| Employee Benefits Expense | 15,458 | 14,953 | 15,458 | 14,953 |
| Finance Costs | 267 | 171 | 267 | 171 |
| Depreciation and Amortization Expense | 3,920 | 3,756 | 3,920 | 3,756 |
| Other Expenses | 30,389 | 28,189 | 30,389 | 28,189 |
| Total Expenses | 178,030 | 161,704 | 178,030 | 161,704 |
| Profit Before Exceptional Items and Tax | 30,860 | 27,312 | 30,857 | 27,309 |
| Exceptional Items | 5,560 | 14 | 5,560 | 14 |
| Profit Before Tax | 36,420 | 27,326 | 36,417 | 27,323 |
| Current Tax: For the Year | 7,781 | 5,930 | 7,781 | 5,930 |
| Current Tax: Relating to Earlier Years | 226 | 187 | 226 | 187 |
| Deferred Tax Charge / (Credit) | 710 | 1,076 | 710 | 1,076 |
| Total Tax Expense | 8,717 | 7,193 | 8,717 | 7,193 |
| Share of Net Profit / (Loss) of Associates and Jointly Controlled Entity | – | – | 32 | 22 |
| Profit for the Year (Profit After Tax) | 27,703 | 20,133 | 27,732 | 20,152 |
| Changes in Fair Value of Equity Instruments Designated at FVTOCI | (2,531) | 2,925 | (2,531) | 2,925 |
| Income Tax Effect on FVTOCI Changes | (0) | (530) | (0) | (530) |
| Remeasurement Gains / (Losses) on Defined Benefit Plans | 293 | 41 | 293 | 41 |
| Income Tax Effect on Defined Benefit Remeasurements | (74) | (10) | (74) | (10) |
| Other Comprehensive Income / (Loss) (Net of Tax) | (2,312) | 2,426 | (2,312) | 2,426 |
| Total Comprehensive Income for the Year | 25,391 | 22,559 | 25,420 | 22,578 |
| Basic Earnings Per Share (Nominal Value ` 10/- each) (in `) | 939.28 | 682.62 | 940.27 | 683.25 |
| Diluted Earnings Per Share (Nominal Value ` 10/- each) (in `) | 939.28 | 682.62 | 940.27 | 683.25 |
Source: Bosch Limited Annual Report 2025–26, Standalone and Consolidated Financial Statements.
Revenue from operations grew 10.8% year-on-year to reach `200,347 million, reflecting sustained demand across passenger vehicles, commercial vehicles, and two-wheelers. Standalone Profit Before Tax before exceptional items was 15.4% of total revenue from operations for 2025–26 compared to 15.1% in the previous year.
- Total Revenue from Operations: Expanded by 10.8% to reach `200,347 million compared to `180,874 million in FY 2024–25.
- Standalone Profit After Tax: Rose 37.6% to reach `27,703 million, bolstered by an exceptional one-time net gain of `5,560 million on the transfer of the Building Technology business.
- Material Cost Efficiency: Cost of goods sold (including traded goods and inventory changes) as a percentage of product sales improved from 67.7% in FY 2024–25 to 67.1% in FY 2025–26.
- Personnel Productivity: Personnel expenses stood at `15,458 million, declining to 7.7% of total revenue against 8.3% in the previous fiscal year.
Segmental Operating Performance
The company classifies business operations into Mobility Business (Automotive Products) and Business Beyond Mobility (Consumer Goods and Others). Segment performance and financial metrics for FY 2025–26 and FY 2024–25 are presented below:
| Segment (` in Millions) | External Turnover FY 2025–26 | External Turnover FY 2024–25 | Segment Result FY 2025–26 | Segment Result FY 2024–25 |
|---|---|---|---|---|
| Automotive Products (Mobility) | 178,074 | 155,489 | 25,570 | 22,467 |
| Consumer Goods (Power Tools) | 18,360 | 17,251 | 1,216 | 1,130 |
| Others | 3,913 | 8,134 | 1,139 | 1,294 |
| Total Segment Performance | 200,347 | 180,874 | 27,925 | 24,891 |
Source: Bosch Limited Annual Report 2025–26, Segment Reporting Disclosures.
The Mobility division remained the anchor business, generating 89.4% of total sales. The Power Solutions division achieved 17.6% top-line growth, whereas the Two-Wheeler and Powersports (2WP) segment grew by 69.1%, driven by the volume ramp-up of Lambda sensor mini-heated (LSFmh) components for OBD-II regulatory compliance. Beyond Mobility turnover contracted by 13.6% following the slump sale of the Video Solutions, Access and Intrusion, and Communication Systems business unit in May 2025.
Operating Ratios and Financial Performance Metrics
The company maintains a debt-free capital structure with strong internal generation of cash flows and liquidity reserves:
| Financial Ratio | Methodology / Numerator & Denominator | FY 2025–26 | FY 2024–25 | Variance (%) |
|---|---|---|---|---|
| Current Ratio | Current Assets / Current Liabilities | 1.96 | 1.76 | 11.1% |
| Debt-Equity Ratio | Total Debt (Lease Liabilities) / Shareholders’ Equity | 0.01 | 0.01 | (8.1%) |
| Debt Service Coverage Ratio | Earnings for Debt Service / Debt Service | 112.95 | 105.31 | 7.3% |
| Return on Equity Ratio | Net Profit After Tax / Average Shareholder Equity | 19.37% | 15.58% | 24.4% |
| Inventory Turnover Ratio | Cost of Goods Sold / Average Inventory | 6.49 | 6.13 | 5.8% |
| Trade Receivable Turnover Ratio | Net Credit Sales / Average Trade Receivables | 7.61 | 7.82 | (2.7%) |
| Trade Payable Turnover Ratio | Net Credit Purchases / Average Trade Payables | 4.98 | 5.18 | (3.8%) |
| Net Capital Turnover Ratio | Net Sales / Working Capital | 3.18 | 3.82 | (16.8%) |
| Net Profit Ratio | Net Profit / Net Sales | 13.83% | 11.13% | 24.2% |
| Return on Capital Employed (ROCE) | Earnings Before Interest and Taxes / Capital Employed | 24.00% | 19.67% | 22.0% |
| Operating Profit Margin | Earnings Before Interest and Taxes / Total Revenue | 11.3% | 10.7% | 5.6% |
| Average Inventory Days | Average Inventory / Total Revenue Per Day | 37 days | 39 days | (5.1%) |
| Average Trade Receivable Days | Average Receivables / Total Revenue Per Day | 47 days | 46 days | 2.2% |
| Average Trade Payable Days | Average Payables / Total Revenue Per Day | 58 days | 56 days | 3.6% |
| Return on Investment – Mutual Funds | Gain or Loss / Beginning Market Value + Inflows/Outflows | 6.29% | 8.44% | (25.5%) |
| Return on Investment – Fixed Deposits | Gain or Loss / Beginning Market Value + Inflows/Outflows | 7.60% | 8.05% | (5.6%) |
| Return on Investment – Tax Free Bonds | Gain or Loss / Beginning Market Value + Inflows/Outflows | 7.11% | 7.20% | (1.2%) |
| Return on Investment – Inter-corporate Loans | Gain or Loss / Beginning Market Value + Inflows/Outflows | 9.40% | 9.39% | 0.1% |
| Return on Investment – Equity Shares | Gain or Loss / Beginning Market Value + Inflows/Outflows | (17.90%) | 26.57% | (167.37%) |
Source: Bosch Limited Annual Report 2025–26, Standalone Ratio Disclosures (Note 41).
Balance sheet
The company maintains a liquid, debt-free balance sheet characterized by strong tangible assets, substantial short- and long-term financial investments, and controlled operational liabilities. The equity base consists of 29,493,640 fully paid equity shares of nominal value ` 10 each.
Standalone and Consolidated Balance Sheet
The following table presents the audited Balance Sheet statements as of March 31, 2026, and March 31, 2025.
| Assets and Liabilities (` in Millions) | Standalone As at Mar 31, 2026 | Standalone As at Mar 31, 2025 | Consolidated As at Mar 31, 2026 | Consolidated As at Mar 31, 2025 |
|---|---|---|---|---|
| Non-Current Assets | ||||
| Property, Plant and Equipment | 9,110 | 8,144 | 9,110 | 8,144 |
| Capital Work in Progress | 3,578 | 3,961 | 3,578 | 3,961 |
| Investment Properties | 5,386 | 6,014 | 5,386 | 6,014 |
| Right-of-Use Assets | 2,045 | 2,065 | 2,045 | 2,065 |
| Investments in Subsidiaries, Associates & JVs | 373 | 373 | 388 | 356 |
| Other Non-Current Financial Investments | 58,005 | 62,546 | 58,005 | 62,546 |
| Non-Current Trade Receivables | 485 | 804 | 485 | 804 |
| Non-Current Loans | 106 | 130 | 106 | 130 |
| Other Non-Current Financial Assets | 5,683 | 3,288 | 5,683 | 3,288 |
| Income Tax Assets (Net) | 1,961 | 2,196 | 1,961 | 2,196 |
| Deferred Tax Assets (Net) | 568 | 1,271 | 568 | 1,271 |
| Other Non-Current Assets | 730 | 1,075 | 734 | 1,078 |
| Total Non-Current Assets | 88,030 | 91,867 | 88,049 | 91,853 |
| Current Assets | ||||
| Inventories | 21,242 | 19,423 | 21,242 | 19,423 |
| Current Financial Investments | 21,808 | 8,700 | 21,808 | 8,700 |
| Trade Receivables | 27,727 | 23,650 | 27,727 | 23,650 |
| Cash and Cash Equivalents | 3,963 | 3,528 | 3,964 | 3,529 |
| Bank Balances Other than Cash & Cash Equivalents | 62 | 1,549 | 62 | 1,550 |
| Current Loans | 9,643 | 13,806 | 9,608 | 13,775 |
| Other Current Financial Assets | 38,845 | 34,273 | 38,845 | 34,273 |
| Other Current Assets | 5,492 | 4,455 | 5,492 | 4,456 |
| Total Current Assets | 128,782 | 109,384 | 128,748 | 109,356 |
| Assets Held for Sale | – | 1,202 | – | 1,202 |
| Total Assets | 216,812 | 202,453 | 216,797 | 202,411 |
| Equity and Liabilities | ||||
| Equity Share Capital | 295 | 295 | 295 | 295 |
| Other Equity | 148,172 | 137,882 | 148,157 | 137,838 |
| Total Equity | 148,467 | 138,177 | 148,452 | 138,133 |
| Non-Current Liabilities | ||||
| Non-Current Lease Liabilities | 1,095 | 980 | 1,095 | 980 |
| Other Non-Current Financial Liabilities | 40 | 78 | 40 | 78 |
| Non-Current Provisions | 1,501 | 1,226 | 1,501 | 1,226 |
| Total Non-Current Liabilities | 2,636 | 2,284 | 2,636 | 2,284 |
| Current Liabilities | ||||
| Current Lease Liabilities | 93 | 203 | 93 | 203 |
| Trade Payables – MSME | 2,318 | 1,349 | 2,318 | 1,349 |
| Trade Payables – Creditors Other than MSME | 32,027 | 28,204 | 32,027 | 28,204 |
| Other Current Financial Liabilities | 6,376 | 5,697 | 6,376 | 5,699 |
| Other Current Liabilities | 6,796 | 5,442 | 6,796 | 5,442 |
| Current Provisions | 18,099 | 15,938 | 18,099 | 15,938 |
| Total Current Liabilities | 65,709 | 56,833 | 65,709 | 56,835 |
| Liabilities Directly Associated with Assets Held for Sale | – | 5,159 | – | 5,159 |
| Total Liabilities | 68,345 | 64,276 | 68,345 | 64,278 |
| Total Equity and Liabilities | 216,812 | 202,453 | 216,797 | 202,411 |
Source: Bosch Limited Annual Report 2025–26, Standalone and Consolidated Financial Statements.
The total net worth (paid-up equity plus reserves) climbed to `148,467 million on a Standalone basis and `148,452 million on a Consolidated basis as of March 31, 2026. The increase in shareholders’ equity was driven by retained earnings generated during the year after distributing `15,101 million in final dividend for FY 2024–25.
- Total Financial Investments: Current and non-current financial investments expanded to `79,813 million as of March 31, 2026, compared to `71,246 million in the prior period.
- Fixed Asset Additions: The company deployed `4,101 million into gross block property, plant, and equipment additions during the year.
- Working Capital Deployment: Total inventories stood at `21,242 million, with inventory coverage efficiency improving to 37 days from 39 days.
- Zero External Borrowings: Total financial debt remains limited to lease liabilities of `1,188 million (current portion: `93 million; non-current portion: `1,095 million).
Cash flow
The statement of cash flows indicates consistent operating cash generation supported by operational discipline, effective working capital cycles, and high income from investments.
Standalone and Consolidated Cash Flow Statement
The table below summarizes cash generation and deployment across operating, investing, and financing activities for the years ended March 31, 2026, and March 31, 2025.
| Cash Flow Activities (` in Millions) | Standalone FY 2025–26 | Standalone FY 2024–25 | Consolidated FY 2025–26 | Consolidated FY 2024–25 |
|---|---|---|---|---|
| Profit Before Tax (After Exceptional Items) | 36,420 | 27,326 | 36,449 | 27,345 |
| Operating Profit Before Working Capital Changes | 27,038 | 23,379 | 27,038 | 23,379 |
| (Increase) / Decrease in Working Capital | 2,469 | 3,243 | 2,468 | 3,243 |
| Cash Flows Generated from Operations | 29,507 | 26,622 | 29,506 | 26,622 |
| Income Taxes Paid (Net of Refunds) | (7,753) | (2,888) | (7,753) | (2,888) |
| Net Cash Flows from Operating Activities (A) | 21,754 | 23,734 | 21,753 | 23,734 |
| Purchase of PPE and Investment Properties | (3,165) | (3,154) | (3,165) | (3,154) |
| Proceeds from Disposal of PPE | 55 | 28 | 55 | 28 |
| Purchase of Investments | (84,073) | (79,691) | (84,073) | (79,691) |
| Proceeds from Sale of Investments | 76,786 | 66,168 | 76,786 | 66,168 |
| Net Loans and Inter-Corporate Deposits Movement | 4,191 | 3,550 | 4,195 | 3,553 |
| Net Deposits (Original Maturity > 3 Months) | (5,588) | (14,869) | (5,588) | (14,870) |
| Dividend from Equity Investments at FVOCI | 191 | 143 | 191 | 143 |
| Proceeds from Sale of Specified Business | 1,526 | 456 | 1,526 | 456 |
| Advance Consideration Received for Sale of Business | – | 4,463 | – | 4,463 |
| Interest Received | 4,232 | 3,319 | 4,229 | 3,316 |
| Net Cash Flows Used in Investing Activities (B) | (5,845) | (19,587) | (5,844) | (19,588) |
| Dividends Paid | (15,090) | (5,017) | (15,090) | (5,017) |
| Payment of Lease Liabilities (Principal & Interest) | (281) | (228) | (281) | (228) |
| Interest Paid | (130) | (46) | (130) | (46) |
| Net Cash Flows Used in Financing Activities (C) | (15,501) | (5,291) | (15,501) | (5,291) |
| Net Increase / (Decrease) in Cash and Cash Equivalents | 408 | (1,144) | 408 | (1,145) |
| Effects of Exchange Rate Fluctuations on Cash Balances | 27 | 40 | 27 | 40 |
| Cash and Cash Equivalents at Beginning of the Year | 3,528 | 4,632 | 3,529 | 4,634 |
| Cash and Cash Equivalents at End of the Year | 3,963 | 3,528 | 3,964 | 3,529 |
Source: Bosch Limited Annual Report 2025–26, Standalone and Consolidated Cash Flow Statements.
Operating cash flow generation remained robust at `21,754 million on a Standalone basis, allowing the company to fund capital expenditure of `3,165 million entirely through internal accruals while delivering substantial dividend payouts. Free cash flow, calculated as Net Cash Flows from Operating Activities minus Purchase of PPE and Investment Properties, reached `18,589 million for FY 2025–26 compared to `20,580 million in FY 2024–25 (Calculated by FirmsWorld).
- Free Cash Flow: Reached `18,589 million on a standalone basis during FY 2025–26 (Calculated by FirmsWorld).
- Tax Outflows: Direct taxes paid increased to `7,753 million compared to `2,888 million in the preceding year.
- Shareholder Payouts: Gross cash dividends distributed during the year totaled `15,090 million.
- Year-End Cash & Bank Liquidity: Aggregate cash and cash equivalents stood at `3,963 million (Consolidated: `3,964 million).
Subsidiaries, associates, joint ventures
Bosch Limited operates through direct ownership stakes in operating subsidiaries, associates, and joint control corporate entities across India.
Entities Under Direct Ownership, Association, and Joint Control
The table below lists all corporate holdings, equity stakes, turnover, net profit contribution, and relationship categorization as disclosed in Form AOC-1 and related party notes.
| Entity Name | Relationship | Holding % | Total Turnover / Income (` in Thousands) | % of Listed Turnover | Profit / (Loss) After Tax (` in Thousands) |
|---|---|---|---|---|---|
| PreBo Automotive India Private Limited | Joint Venture | 40.00% | 1,423,000 | 0.71% | 69,258 |
| Newtech Filter India Private Limited | Associate | 25.00% | 1,539,000 | 0.77% | 32,820 |
| AutoZilla Solutions Private Limited | Associate | 26.00% | 81,000 | 0.04% | (15,231) |
| Robert Bosch India Manufacturing and Technology Private Limited | Subsidiary | 100.00% | 134 | 0.00% | (3,111) |
| MICO Trading Private Limited | Subsidiary | 100.00% | 126 | 0.00% | 67 |
Source: Bosch Limited Annual Report 2025–26, Form AOC-1 and Financial Disclosures. (% of Listed Turnover Calculated by FirmsWorld based on Standalone Turnover of `200,347 million).
Profiles and Status of Group Entities
- PreBo Automotive India Private Limited: Joint venture with 40.00% equity participation (`64 million carrying equity value). Engaged in the manufacture, assembly, and supply of mechanical and electromechanical components and assemblies for automotive and industrial sectors. Contributed `28 million in share of profit to Consolidated accounts in FY 2025–26.
- Newtech Filter India Private Limited: Associate entity held 25.00% by Bosch Limited and 75.00% by Robert Bosch Investment Nederland B.V. Acts as a dedicated manufacturer of automotive filters, supplying components directly to Bosch Limited for distribution to end markets. Total revenue reached `1,539 million in FY 2025–26 with profit before tax of `47 million.
- AutoZilla Solutions Private Limited: Hyderabad-based B2B e-commerce platform in which Bosch holds 26.00% equity stake (`133.5 million investment) to establish digital integration around commercial vehicle workshops and parts distribution. Recorded a net loss of `15.23 million in FY 2025–26.
- MICO Trading Private Limited: Wholly owned subsidiary with paid-up capital of `1,000 thousand. Inactive with no operational commercial turnover; earned investment income from fixed deposits of `36 thousand, yielding profit after tax of `67 thousand.
- Robert Bosch India Manufacturing and Technology Private Limited (RBIM): Wholly owned subsidiary incorporated in March 2020. The Board approved the closure of RBIM through voluntary strike-off under the Companies Act, 2013, as the entity remained commercially inactive.
Strategic Joint Ventures Formed in 2026
- Joint Venture with Tata AutoComp Systems Limited (TACO): Formed to engineer, manufacture, and market eAxle systems and electric drive motors in India. Both entities hold a 50:50 equity ratio with an aggregate capital commitment of `940 million (`94 Crores), with operations scheduled to commence by mid-2026.
- Joint Venture with Wheels India Limited and Brakes India Private Limited (TSF Companies): Formed on a 50:50 basis to manufacture electronically controlled air systems and braking solutions for commercial vehicles. Initial equity subscription is `100,000, with a phased capital infusion equivalent to EUR 1,000,000 within 60 days of incorporation.
- Acquisition of Bosch Chassis Systems India Private Limited (RBIC): Share Purchase Agreement approved to acquire 100% equity capital of fellow subsidiary RBIC (Pune) for an aggregate consideration not exceeding `90,686.80 million (`9,068.68 Crores), financed entirely through internal cash reserves.
Other Investments (Including Minority / Portfolio Holdings)
The company maintains long-term non-current strategic equity holdings, non-convertible debentures, preference shares, and treasury investments classified at Fair Value through Other Comprehensive Income (FVOCI) or Fair Value through Profit or Loss (FVTPL).
Portfolio and Strategic Investments
The table below summarizes non-current quoted and unquoted equity and preference holdings held as of March 31, 2026, sorted by total carrying amount.
| Investment / Investee Entity | Instrument Category | Accounting Basis | Holding (%) | Carrying Value FY 2025–26 (` in Millions) | Carrying Value FY 2024–25 (` in Millions) | Business Activity |
|---|---|---|---|---|---|---|
| HDFC Bank Limited | Quoted Equity (12,194,128 shares) | FVOCI | < 1.00% | 8,923 | 11,148 | Banking & Financial Services |
| ICICI Bank Limited | Quoted Equity (2,404,105 shares) | FVOCI | < 1.00% | 2,899 | 3,242 | Banking & Financial Services |
| AMP Solar Infrastructure Private Limited | Unquoted CCDs (71,738 debentures) | FVOCI | – | 72 | 72 | Solar Power Generation |
| AMP Energy C&I Eight Private Limited | Unquoted Equity (4,370,000 shares) | FVOCI | – | 44 | 44 | Renewable Energy Supply |
| Zeliot Connected Services Private Limited | Unquoted CCPS (2,100 shares) | FVOCI | – | 37 | 37 | Connected Mobility & IoT |
| Zeliot Connected Services Private Limited | Unquoted Equity (2,467 shares) | FVOCI | – | 3 | 3 | Connected Mobility & IoT |
| AMP Solar Infrastructure Private Limited | Unquoted Equity (128,460 shares) | FVOCI | – | 1 | 1 | Solar Power Generation |
| Nivaata Systems Private Limited | Unquoted Equity & CCPS | FVOCI | 0.00% | 0 | 148 | Divested on May 27, 2025 |
Source: Bosch Limited Annual Report 2025–26, Notes to the Standalone Financial Statements (Note 7(a)).
Divestment of Stake in Nivaata Systems Private Limited
Bosch Limited held a 6.97% equity stake in Nivaata Systems Private Limited (operating as “Routematic”) for an original book investment of `148 million (net cash outflow of `131 million). Having fulfilled its strategic purpose of building enterprise transportation data lake infrastructure, the Board approved the divestment of its entire 6.97% holding on May 27, 2025. The transaction was closed at `16,300 per share for a gross consideration of `184.12 million, realizing a gain of `36 million recognized directly in Other Comprehensive Income.
Treasury Mutual Fund and Bond Deployments
Surplus operating liquidity is deployed in fixed-income debt instruments, target-maturity funds, and high-quality liquid mutual funds:
- Mutual Fund Portfolios: Total mutual fund investments stood at `67,834 million (Non-Current: `46,026 million; Current: `21,808 million) across SBI, HDFC, ICICI Prudential, Kotak, Bandhan, Aditya Birla Sun Life, Tata, and UTI Mutual Funds.
- Term Deposits: Long-term fixed deposits with banks exceeding 12 months maturity stood at `42,700 million (`37,380 million current; `5,320 million non-current).
- Inter-Corporate Loans: Outstanding secured loans extended to Bosch Group companies totaled `9,535 million at interest rates ranging from 8.90% to 9.55% per annum.
Physical properties (offices, plants, factories, etc.)
The company maintains a nationwide network of specialized manufacturing campuses, technical centers, and regional commercial facilities.
Manufacturing Locations
- Bidadi Plant (BidP), Karnataka: Spread across 98 acres in Ramanagara district near Bengaluru. Focuses on Power Solutions, producing Common Rail diesel pumps, A-Pumps, Glow Plugs, and advanced emission sensors including Lambda sensors for two-wheelers and newly commissioned NOx sensor lines.
- Nashik Plant (NaP), Maharashtra: Established in 1972 across over 100 acres at MIDC Estate Satpur, Trimbak Road. Produces Common Rail Injectors (CRI) for passenger vehicles and commercial vehicles, alongside high-precision diesel injector nozzles.
- Jaipur Plant (JaP), Rajasthan: Located at RIICO Industrial Area, Sitapura, spanning 25 years of operations. Serves as lead manufacturer for VE (distributor) pumps and conventional nozzle holder assemblies. Consolidating the global manufacturing of Zexel-design VE pumps from Japan by end of 2026.
- Naganathapura Plant (NhP), Karnataka: Located at Electronic City, Bengaluru. Specializes in spark plugs (including local production of platinum electrode spark plugs) and automotive filters. Operates as a zero liquid discharge and carbon-neutral facility.
- Gangaikondan Plant (GanP), Tamil Nadu: Located at SIPCOT Industrial Growth Centre, Tirunelveli district. Manufactures fuel injection components across ICE, EV, and hydrogen technologies with a 70% women shopfloor workforce.
- Chennai Power Tools Plant (ChiP), Tamil Nadu: Spans 7,000 square meters at SIPCOT Industrial Growth Center, Oragadam. Dedicated to professional power tools including drills, angle grinders, and rotary hammers, operating with a 100% women-led shopfloor.
Investment Properties and Real Estate Assets
The company owns commercial real estate and office premises let under operating leases to Group entities and external corporate clients:
| Property Class | Gross Carrying Amount (` in Millions) | Accumulated Depreciation (` in Millions) | Net Block (` in Millions) | Fair Valuation (` in Millions) |
|---|---|---|---|---|
| Land Parcels | 38 | – | 38 | 15,116 |
| Commercial Buildings | 8,794 | 3,446 | 5,348 | 8,797 |
| Total Investment Properties | 8,832 | 3,446 | 5,386 | 23,913 |
Source: Bosch Limited Annual Report 2025–26, Investment Properties (Note 5). Valuations performed by Colliers International India Property Services Private Limited.
Rental income derived from investment properties totaled `1,693 million in FY 2025–26, offset by `165 million in direct operating expenses, yielding net operating rental profit before depreciation of `1,528 million.
Commercial Office Network
- Registered and Corporate Office: Hosur Road, Adugodi, Bengaluru, Karnataka.
- Zonal Aftermarket Offices: New Delhi (Panchkuian Road), Mumbai (Solaris One, Andheri East), Kolkata (Park Street), Chennai (Shafee Mohamad Road), Ahmedabad (Ellis Bridge), Bengaluru (Adugodi Complex), Ernakulam (M.G. Road), Mohali, Indore, Secunderabad, Guwahati, Bhubaneswar, and Jaipur.
- Power Tools Sales Offices & Service Centers: New Delhi (Mayapuri), Mumbai (Goregaon East), Kolkata, Chennai (T. Nagar), Raipur, Surat, Bengaluru, Hyderabad, Bhubaneswar, Gurgaon, Indore, Ernakulam, Pune, Mohali, and Ghaziabad.
Investments and capital expenditure plans
Capital allocations are prioritized towards production capacity expansion for next-generation mobility components, local engineering of powertrain systems, digitalization, and statutory compliance implementations.
Capital Expenditure Breakdown (FY 2025–26)
Total additions to fixed assets (Gross Block additions) in FY 2025–26 amounted to `4,101 million (2.1% of net sales), compared to `1,273 million (0.8% of net sales) in FY 2024–25.
| Investment Purpose | Share of Total Capex (%) | Allocated Amount (` in Millions) |
|---|---|---|
| Investment for New Products | 42% | 1,722.42 |
| Replacement / Upgradation of Existing Machinery | 23% | 943.23 |
| Capacity Increase of Existing Products | 18% | 738.18 |
| Others | 13% | 533.13 |
| Investment in Factory Buildings | 4% | 164.04 |
| Total Gross Additions | 100% | 4,101.00 |
Source: Bosch Limited Annual Report 2025–26, Capital Investments Section. (Allocated amounts calculated by FirmsWorld based on disclosed percentages).
Capital Commitments and Capital Work in Progress (CWIP)
As of March 31, 2026, the estimated amount of contracts remaining to be executed on capital account and not provided for (net of capital advances) stood at `2,459 million, compared to `1,044 million as of March 31, 2025. Capital work-in-progress closing balance was `3,578 million, consisting of:
- CWIP Aging < 1 Year: `2,021 million under active installation.
- CWIP Aging 1–2 Years: `576 million in progress.
- CWIP Aging 2–3 Years: `792 million in progress.
- CWIP Aging > 3 Years: `189 million in progress.
- Capital Commitments for Plant & Equipment: `2,459 million.
Research and Development (R&D) Spending
R&D expenditures support emissions compliance (TREM 5, CAFE 3, BS-VI Stage 2), hydrogen ICE testing infrastructure, flex-fuel E85 engine management, battery management systems, and commercial vehicle ADAS.
| R&D Expenditure Category | Amount FY 2025–26 (` in Millions) | Amount FY 2024–25 (` in Millions) |
|---|---|---|
| Capital R&D Expenditure | 22 | Not Disclosed |
| Revenue R&D Expenditure | 5,989 | Not Disclosed |
| Total R&D Expenditure | 6,011 | Not Disclosed |
| R&D Spend as % of Gross Sales | 3.0% | Not Disclosed |
Source: Bosch Limited Annual Report 2025–26, Annexure G (Technology Absorption and R&D).
Shareholding pattern
The total authorized capital of Bosch Limited comprises 38,051,460 equity shares of ` 10 each (`381 million). The issued, subscribed, and paid-up equity share capital is `294.94 million divided into 29,493,640 fully paid equity shares of ` 10 each.
Category-Wise Shareholding Structure
The shareholding structure of Bosch Limited as of March 31, 2026, is detailed below:
| Category of Shareholder | Number of Members | Total Shares Held | % of Total Paid-up Capital |
|---|---|---|---|
| Promoter and Promoter Group | |||
| Robert Bosch Internationale Beteiligungen AG | 1 | 19,984,324 | 67.76% |
| Bosch Global Software Technologies Private Limited | 1 | 820,900 | 2.78% |
| Total Promoter Holding (A) | 2 | 20,805,224 | 70.54% |
| Public and Institutional Shareholders | |||
| Insurance Companies | 22 | 2,275,191 | 7.71% |
| Foreign Portfolio Investors | 561 | 2,128,175 | 7.22% |
| Mutual Funds | 29 | 1,915,077 | 6.49% |
| Individual Shareholders | 61,031 | 1,698,846 | 5.76% |
| Provident Fund / Pension Funds | 1 | 200,951 | 0.68% |
| Bodies Corporate | 561 | 149,764 | 0.51% |
| Non-Resident Indians (NRIs) | 2,627 | 130,465 | 0.44% |
| Hindu Undivided Families (HUF) | 1,686 | 48,680 | 0.17% |
| Trusts | 34 | 44,789 | 0.15% |
| Alternate Investment Funds | 16 | 44,087 | 0.15% |
| Investor Education and Protection Fund (IEPF) | 1 | 38,538 | 0.13% |
| Banks | 5 | 7,080 | 0.02% |
| Limited Liability Partnerships (LLP) | 62 | 6,643 | 0.02% |
| Foreign Nationals | 1 | 20 | 0.00% |
| Clearing Members | 5 | 35 | 0.00% |
| NBFCs | 2 | 75 | 0.00% |
| Total Public & Others Holding (B) | 66,644 | 8,688,416 | 29.46% |
| Total Shareholding (A + B) | 66,646 | 29,493,640 | 100.00% |
Source: Bosch Limited Annual Report 2025–26, Corporate Governance Report Disclosures.
Top Ten Equity Shareholders
The table below lists the top ten equity shareholders holding legal and beneficial ownership in the company as of March 31, 2026:
| Rank | Name of Shareholder | Shares Held | % of Capital |
|---|---|---|---|
| 1 | Robert Bosch Internationale Beteiligungen AG | 19,984,324 | 67.76% |
| 2 | HDFC Mutual Fund | 1,096,383 | 3.71% |
| 3 | General Insurance Corporation of India | 828,627 | 2.80% |
| 4 | Bosch Global Software Technologies Private Limited | 820,900 | 2.78% |
| 5 | The New India Assurance Company Limited | 516,233 | 1.75% |
| 6 | Life Insurance Corporation of India | 406,654 | 1.37% |
| 7 | United India Insurance Company Limited | 228,983 | 0.78% |
| 8 | Kotak Mutual Fund | 222,876 | 0.75% |
| 9 | NPS Trust Various Schemes | 200,951 | 0.68% |
| 10 | Vanguard Total International Stock Index Fund | 126,963 | 0.43% |
Source: Bosch Limited Annual Report 2025–26, Top Ten Shareholders Disclosure.
Distribution of Shareholding (as on March 31, 2026)
The spread of equity share holdings across member categories is detailed below:
| Shareholding Slab | Number of Members | % of Total Members | Total Shares Held | % of Total Capital |
|---|---|---|---|---|
| 1 – 500 | 67,755 | 98.53% | 1,145,811 | 3.89% |
| 501 – 1,000 | 434 | 0.63% | 306,692 | 1.04% |
| 1,001 – 2,000 | 211 | 0.31% | 294,758 | 1.00% |
| 2,001 – 3,000 | 88 | 0.13% | 215,816 | 0.73% |
| 3,001 – 4,000 | 49 | 0.07% | 170,583 | 0.58% |
| 4,001 – 5,000 | 36 | 0.05% | 160,618 | 0.54% |
| 5,001 – 10,000 | 77 | 0.11% | 560,574 | 1.90% |
| > 10,000 | 115 | 0.17% | 26,638,788 | 90.32% |
| Total | 68,765 | 100.00% | 29,493,640 | 100.00% |
Source: Bosch Limited Annual Report 2025–26, Shareholding Distribution Schedule.
As of March 31, 2026, a total of 28,931,314 shares (98.09%) are held via NSDL, 511,767 shares (1.74%) via CDSL, and 50,559 shares (0.17%) remain in physical format, establishing an aggregate dematerialization rate of 99.83% of the paid-up share capital.
Frequently Asked Questions
What were Bosch Limited’s total revenue and net profit in FY 2025–26?
For the financial year ended March 31, 2026, Bosch Limited reported standalone total revenue from operations of `200,347 million (`20,034 Crores), up 10.8 percent year-on-year. Standalone profit after tax reached `27,703 million, including an exceptional net gain of `5,560 million from the slump sale of security business lines.
What dividend has been declared by Bosch Limited for FY 2025–26?
The Board of Directors recommended a final dividend of `270 per equity share (nominal value `10 each) for fiscal year 2025–26, subject to shareholder approval at the 74th Annual General Meeting scheduled for August 11, 2026. This represents a total dividend payout of `7,963 million and a payout ratio of 29 percent.
What is the status of the Bosch Chassis Systems India (RBIC) acquisition?
Bosch Limited approved the 100 percent equity acquisition of fellow subsidiary Bosch Chassis Systems India Private Limited (RBIC) for a purchase consideration not exceeding `9,068.68 Crores. The transaction received shareholder approval via Postal Ballot and is scheduled to conclude by the end of Q1 2026–27 using internal cash accruals.
Who are the principal shareholders of Bosch Limited?
Bosch Limited is controlled by the promoter group holding 70.54 percent of equity capital, comprising Robert Bosch Internationale Beteiligungen AG (67.76 percent) and Bosch Global Software Technologies Private Limited (2.78 percent). Public and institutional holders own the remaining 29.46 percent.