Bosch financials and balance sheet

NSE: BOSCHLTDBSE: 500530Auto ComponentsMid Cap

Formerly Motor Industries Co.

₹44,085.00₹15.00 (0.03%)BSE ₹44,045.85

Share price at the NSE close on 23 Oct 2026. Previous close ₹44,070.00.

52-week range of traded prices to 23 Oct 2026

₹28,610.00Low, 30 Mar 2026₹50,000.00High, 31 Aug 2026

Next results date: the board meets on 6 Nov 2026 to consider: financial results and other business matters.

Market cap: ₹1,30,034 Cr101st largest listed
P/E: 55.0
P/B: 8.8
Dividend yield: 0.61%
ROE: 16.5%
ROCE: 16.3%
Debt to equity: 0.00
Volume, NSE: 14,28729.0% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Bosch annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 2.3% of operating profit in the first full year.

The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue20,035
Materials and goods−12,800
Employee costs−1,546
Other expenses−3,039
Operating profit2,650
Depreciation−392
Other income+854
One-off items+556
Finance costs−27
Profit before tax3,642
Tax−872
Joint ventures+3.2
Net profit2,773

What the company owns

Plant, investments and other assets₹14,199 Cr
Receivables₹2,773 Cr
Current investments₹2,181 Cr
Inventory₹2,124 Cr
Cash and bank₹403 Cr

What pays for it: net worth and liabilities

Net worth₹14,845 Cr
Owed to suppliers₹3,435 Cr
Other liabilities₹3,400 Cr

Bosch business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Bosch segment results by quarter

Revenue by segment

₹20,072 CrTotal

Automotive products₹17,807 Cr88.7% of total
Consumer goods₹1,836 Cr9.1% of total
Others₹429 Cr2.1% of total

Profit by segment

Automotive products₹2,557 Cr91.6% of total
Consumer goods₹122 Cr4.4% of total
Others₹114 Cr4.1% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Automotive products
Revenue, ₹ crore
10,307
8,335
8,378
10,037
12,916
14,358
15,549
17,807
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
1,810
493
204
1,269
1,581
1,849
2,247
2,557
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Consumer goods
Revenue, ₹ crore
1,265
1,403
1,622
1,725
1,836
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
68
116
185
113
122
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
2,003
1,534
1,354
549
675
785
849
429
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
227
146
222
136
129
117
129
114
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	12,309	9,870	9,732	11,852	14,995	16,765	18,123	20,072
Company revenue, as in its results	12,258	9,842	9,716	11,782	14,929	16,727	18,087	20,035
Revenue	10,307	8,335	8,378	10,037	12,916	14,358	15,549	17,807
Revenue growth	–	−19.1%	0.5%	19.8%	28.7%	11.2%	8.3%	14.5%
Profit	1,810	493	204	1,269	1,581	1,849	2,247	2,557
Profit growth	–	−72.7%	−58.6%	521.1%	24.6%	16.9%	21.5%	13.8%
Margin	17.6%	5.9%	2.4%	12.6%	12.2%	12.9%	14.4%	14.4%
Return on capital	–	94.1%	–	369.7%	287.9%	274.4%	717.6%	–
Assets	–	3,671	3,768	4,222	4,954	5,168	5,381	5,953
Liabilities	–	3,147	4,003	3,879	4,405	4,494	5,068	5,970
Capital employed	–	524	−235	343	549	674	313	−17
Revenue	–	–	–	1,265	1,403	1,622	1,725	1,836
Revenue growth	–	–	–	–	10.9%	15.6%	6.3%	6.4%
Profit	–	–	–	68	116	185	113	122
Profit growth	–	–	–	–	70.0%	60.3%	−39.0%	7.6%
Margin	–	–	–	5.4%	8.2%	11.4%	6.6%	6.6%
Return on capital	–	–	–	52.9%	215.3%	164.7%	53.8%	53.9%
Assets	–	–	–	404	415	447	590	649
Liabilities	–	–	–	275	362	334	379	423
Capital employed	–	–	–	129	54	113	210	226
Revenue	2,003	1,534	1,354	549	675	785	849	429
Revenue growth	–	−23.4%	−11.7%	–	22.9%	16.3%	8.0%	−49.5%
Profit	227	146	222	136	129	117	129	114
Profit growth	–	−35.5%	51.8%	–	−4.8%	−9.6%	11.0%	−12.0%
Margin	11.3%	9.5%	16.4%	24.7%	19.1%	14.8%	15.2%	26.6%
Return on capital	–	78.6%	207.7%	122.3%	19.4%	16.3%	64.4%	20.8%
Assets	–	656	642	313	778	842	782	636
Liabilities	–	470	535	202	114	125	581	87
Capital employed	–	186	107	111	664	717	201	549

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Bosch quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 22 May	Mar 2020Filed 23 May	Mar 2021Filed 21 May	Mar 2022Filed 20 May	Mar 2023Filed 12 May	Mar 2024Filed 25 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Revenue from operations	11,243	11,872	12,258	9,842	9,716	11,782	14,929	16,727	18,087	20,035
	9,282	9,779	10,094	8,358	8,556	10,325	13,123	14,632	15,778	17,384
Materials and goods bought	5,309	6,301	6,775	5,309	5,773	7,299	9,463	10,834	11,464	12,800
Employee costs	–	–	1,370	1,269	932	1,072	1,146	1,341	1,495	1,546
Other expenses	–	–	1,949	1,780	1,851	1,954	2,514	2,458	2,819	3,039
Operating profit before depreciation	1,960	2,093	2,164	1,483	1,161	1,457	1,807	2,095	2,310	2,650
Operating margin	17.4%	17.6%	17.7%	15.1%	11.9%	12.4%	12.1%	12.5%	12.8%	13.2%
Materials, % of revenue	–	–	55.3%	53.9%	59.4%	61.9%	63.4%	64.8%	63.4%	63.9%
Employee costs, % of revenue	–	–	11.2%	12.9%	9.6%	9.1%	7.7%	8.0%	8.3%	7.7%
Other expenses, % of revenue	–	–	15.9%	18.1%	19.1%	16.6%	16.8%	14.7%	15.6%	15.2%
Depreciation and amortisation	456	467	405	383	341	324	386	430	376	392
Operating profit after depreciation	1,504	1,626	1,759	1,100	819	1,133	1,421	1,665	1,934	2,258
Other income	617	512	595	547	504	396	473	722	814	854
Finance costs	27	3	13	10	14	29	12	51	17	27
Profit before one-off items and tax	2,094	2,134	2,341	1,636	1,309	1,500	1,882	2,337	2,731	3,086
One-off items	0	−94	0	−717	−744	0	0	844	1	556
Profit before tax	2,094	2,041	2,341	920	565	1,500	1,882	3,181	2,732	3,642
	650	670	743	–	85	283	458	691	719	872
Current tax	–	–	707	–	163	193	434	598	612	801
Deferred tax	–	–	36	–	−78	90	24	93	108	71
Share of profit of joint ventures and associates	–	–	–	0	1	1	1	1	2	3
Profit from discontinued businesses	–	–	–	65	–	–	–	–	–	–
	1,740	1,371	1,598	650	482	1,218	1,426	2,491	2,015	2,773
Belonging to the company's shareholders	1,740	1,371	1,598	650	482	1,218	1,425	2,491	2,015	2,773
Belonging to outside owners of subsidiaries	–	–	0	0	–	–	1	0	0	–
Other comprehensive income	–	–	100	−133	380	−12	109	−9	243	−231
Total comprehensive income	–	–	1,698	516	862	1,206	1,535	2,482	2,258	2,542
Net margin	15.5%	11.5%	13.0%	–	5.0%	10.3%	9.5%	14.9%	11.1%	13.8%
Net margin without joint ventures and associates	–	–	–	–	4.9%	10.3%	9.5%	14.9%	11.1%	13.8%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank. Tax is left blank for the year to Mar 2020: profit before tax less the tax charge stated does not come to the profit after tax the same statement states, so the tax charge is not shown. Net margin is left blank for the year to Mar 2020: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 22 May	Mar 2020Filed 23 May	Mar 2021Filed 21 May	Mar 2022Filed 20 May	Mar 2023Filed 12 May	Mar 2024Filed 25 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
	9,118	9,261	9,813	10,680	11,005	12,057	13,813	14,845
Share capital	29	29	29	30	30	30	30	30
Reserves	9,088	9,231	9,783	10,650	10,976	12,027	13,784	14,816
Borrowings	0	0	0	0	0	0	0	0
	3,231	3,669	4,492	4,306	5,024	5,093	5,684	6,571
Trade payables	1,588	1,605	2,223	2,240	2,725	2,568	2,958	3,435
Other financial liabilities	519	498	760	467	500	519	590	647
Other liabilities	390	275	436	479	659	663	541	680
Provisions	718	1,291	1,073	1,120	1,140	1,344	1,594	1,810
Tax owed	16	0	–	0	0	0	0	–
	352	382	459	417	224	198	228	264
Other financial liabilities	11	55	221	172	114	80	106	114
Provisions	342	327	238	245	110	118	123	150
Liabilities going with businesses held for sale	–	–	–	–	–	–	516	–
	12,701	13,311	14,764	15,402	16,252	17,349	20,241	21,680
Held for sale or for a demerger	–	–	–	–	–	–	120	–
	6,258	6,292	6,004	7,048	7,419	7,428	9,185	8,805
Plant in use, after depreciation	1,011	973	909	931	1,056	1,113	1,021	1,116
Plant being built	644	487	488	605	366	224	396	358
Intangible assets	0	223	0	0	0	0	0	0
Intangible assets being developed	–	0	200	0	0	0	–	–
Property held to earn rent	165	147	132	117	531	657	601	539
Investments	3,799	3,724	3,408	4,378	4,295	4,291	6,255	5,801
Stakes in joint ventures and associates	–	12	14	31	32	33	36	39
Loans given	106	110	56	23	18	15	13	11
Other financial assets	9	91	–	32	24	122	316	568
Deferred tax	460	457	506	416	378	288	127	57
Trade receivables	0	0	–	0	0	0	80	49
Other assets	64	70	291	515	718	684	340	270
	6,443	7,019	8,761	8,354	8,834	9,921	10,936	12,875
Inventories	1,444	1,116	1,298	1,729	1,903	1,893	1,942	2,124
Trade receivables	1,568	1,413	1,387	1,527	1,903	2,182	2,365	2,773
Cash and cash equivalents	203	255	289	143	379	463	353	396
Other bank balances	1,050	2,001	2,162	1,562	1,678	2,130	155	6
Current investments	237	297	1,728	1,112	690	797	870	2,181
Loans given	459	609	525	928	1,058	1,484	1,378	961
Other financial assets	909	908	936	700	624	343	3,427	3,885
Other assets	574	421	435	653	599	629	446	549
Net debt	−1,490	−2,553	−4,178	−2,818	−2,747	−3,390	−1,378	−2,583

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 21 May	Mar 2022Filed 20 May	Mar 2023Filed 12 May	Mar 2024Filed 25 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
	715	270	1,214	1,253	2,373	2,175
	985	536	1,617	1,949	2,662	2,951
	548	−939	−209	−206	316	245
Receivables	−26	−147	−378	−299	−334	−314
Inventories	−183	−431	−174	10	−111	−120
Payables	645	9	481	−180	459	408
Other working capital	111	−370	−138	263	301	271
Tax paid	−269	−266	−403	−696	−289	−775
Capital spending	200	467	641	330	315	317
Free cash flow	516	−197	573	923	2,058	1,859
	−344	−32	262	283	−1,959	−584
Plant and property sold	5	0	2	3	3	6
Interest received	288	228	225	367	332	423
Dividends received	7	9	12	18	14	19
	−338	−383	−1,239	−1,452	−529	−1,550
Interest paid	−2	−15	−6	−2	−12	−22
Lease payments	−27	0	0	−18	−15	−19
Dividends paid	310	339	1,209	1,431	502	1,509
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	34	−146	236	84	−115	41

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Bosch dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 22 May	Mar 2020Filed 23 May	Mar 2021Filed 21 May	Mar 2022Filed 20 May	Mar 2023Filed 12 May	Mar 2024Filed 25 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Earnings per share	₹560.60	₹449.20	₹525.20	₹220.20	₹163.40	₹413.10	₹483.32	₹844.68	₹683.25	₹940.27
Diluted earnings per share	₹560.60	₹449.20	₹525.20	₹220.20	₹163.40	₹413.10	₹483.32	₹844.68	₹683.25	₹940.27
Dividend per share	₹165.00	₹100.00	₹105.00	₹105.00	₹115.00	₹210.00	₹480.00	₹375.00	₹512.00	₹270.00
Book value per share	–	–	₹3,091.82	₹3,140.29	₹3,327.54	₹3,620.27	₹3,731.35	₹4,087.08	₹4,682.47	₹5,032.27
Dividend payout	28.9%	22.3%	19.4%	47.7%	70.4%	50.8%	99.4%	44.4%	75.0%	28.7%
Shareholder yield	–	–	–	–	0.7%	0.8%	2.1%	1.6%	0.6%	1.8%
Market cap at the year end (₹ crore)	69,438	54,991	55,502	27,711	41,552	42,584	57,129	88,573	83,639	84,779

Ratios

Consolidated, years to March.Bosch PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 22 May	Mar 2020Filed 23 May	Mar 2021Filed 21 May	Mar 2022Filed 20 May	Mar 2023Filed 12 May	Mar 2024Filed 25 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Revenue growth	5.9%	–	–	−19.7%	−1.3%	21.3%	26.7%	12.0%	8.1%	10.8%
Operating profit growth	–	6.8%	3.4%	−31.4%	−21.8%	25.5%	24.0%	15.9%	10.3%	14.8%
Net profit growth	39.4%	−21.2%	16.6%	−59.4%	−25.8%	152.8%	17.0%	74.8%	−19.1%	37.6%
Earnings per share growth	–	−19.9%	16.9%	−58.1%	−25.8%	152.8%	17.0%	74.8%	−19.1%	37.6%
	–	–	17.5%	7.1%	5.1%	11.9%	13.1%	21.6%	15.6%	19.4%
	–	–	–	−10.5 pts	−2.0 pts	6.8 pts	1.2 pts	8.5 pts	−6.0 pts	3.8 pts
From the net margin	–	–	–	–	–	5.5 pts	−0.9 pts	7.4 pts	−5.4 pts	3.8 pts
From asset turnover	–	–	–	–	–	1.4 pts	2.3 pts	1.1 pts	−0.5 pts	−0.1 pts
From borrowing	–	–	–	–	–	0.0 pts	−0.1 pts	0.0 pts	0.0 pts	0.1 pts
Return on capital employed	–	–	19.3%	11.9%	8.3%	10.6%	12.9%	13.8%	14.0%	15.2%
Cash conversion	–	–	–	–	148.4%	22.1%	85.1%	50.3%	117.8%	78.4%
Interest cover	55.4	492.7	132.3	108.3	58.4	39.2	117.4	32.8	113.1	84.6
Debt to equity	–	–	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Receivable days	–	–	47	52	52	47	47	48	48	51
Inventory days	–	–	78	77	82	86	73	64	62	61
Payable days	–	–	86	110	141	112	105	87	94	98
Cash conversion cycle, days	–	–	39	19	−6	22	15	25	15	13
Working capital days	–	–	51	30	3	38	26	31	78	68
Asset turnover	–	–	0.97	0.76	0.69	0.78	0.94	1.00	0.96	0.96
Assets per rupee of net worth	–	–	1.39	1.42	1.47	1.47	1.46	1.46	1.45	1.46
Sales per rupee of plant	–	–	12.13	10.12	10.69	12.66	14.13	15.03	17.72	17.96
Capital spending to depreciation	–	–	–	–	0.59	1.44	1.66	0.77	0.84	0.81
Plant being built, % of plant in use	–	–	63.7%	50.1%	53.7%	65.1%	34.6%	20.1%	38.8%	32.1%

Revenue growth is left blank for the years to Mar 2018 and Mar 2019: between the two periods excise duty was taken out of revenue when GST replaced it, so the two are on different bases and the change is not worked out. From the net margin, from asset turnover and from borrowing are left blank for the years to Mar 2020 and Mar 2021: the profit of this year or the year before includes a business the company has discontinued while its revenue does not, so the change in return on equity is not split into margin, turnover and borrowing. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 13.2%
Cash from operations against operating profit: 82.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	6.6%	15.6%	10.3%
Profit growth, yearly rate	8.3%	41.9%	24.9%
Return on equity, average	–	16.3%	18.8%
Return on capital employed, average	–	13.3%	14.3%
Operating margin, average	14.3%	12.6%	12.8%
Net margin, average	11.6%	12.0%	13.3%
Asset turnover, average	–	0.93	0.97
Cash conversion cycle, days, average	–	18	18
Interest cover, average	123.4	77.4	76.8
Debt to equity, average	–	0.00	0.00

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	7,285	5,802	2,175
Cash from investing	−2,031	−2,260	−584
Cash from financing	−5,153	−3,531	−1,550
Capital spending	2,069	961	317
Dividends paid	4,991	3,442	1,509
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	0	0	0
Borrowings repaid	0	0	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	5	4	5	6	6	5
Altman Z-scorePublished threshold 1.81	–	–	11.86	6.35	7.10	7.79	9.06	12.93	10.42	10.23
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.54	−2.01	−2.16	−2.01	−2.56	−2.26
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	0.78	6.50	−0.31	5.69	8.52	5.64
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	0.70	0.53	0.82	0.80
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	9.86	−0.54	−11.21	−2.08	2.61	0.26	6.47
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−1.10	7.63	6.74	−19.61	−14.99	−3.23	−2.29
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−1.57	0.44	−0.16	−0.87	−1.50	16.04	2.80
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	1.41	1.76	1.75	0.71	0.46	1.40	0.74
Effective tax ratePublished threshold 17.16 per cent	31.05	32.83	31.74	20.67	14.97	18.86	24.33	21.71	26.33	23.94
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	1.10	2.91	−0.17	15.76	2.65

A threshold marked as ours has no published figure; it is the line we read the check against.