Bosch Limited Q2 profit rises 19% as revenue gains 28.2%

Bosch Limited reported consolidated profit after tax of Rs 840 crore for Q2 FY 2026-27, up 19% year on year, as revenue from operations increased 28.2% to Rs 7,655 crore. Bosch cited demand across automotive markets, while the quarter also included Bosch Chassis Systems India Private Limited in consolidated results for the first time.

How did Bosch perform in Q2 FY 2026-27?

Bosch recorded consolidated revenue from operations of Rs 7,655 crore in Q2 FY 2026-27, up 28.2% from the corresponding quarter a year earlier. Consolidated profit before tax, including exceptional items, was Rs 1,122 crore, or 14.7% of revenue, while profit after tax was Rs 840 crore, or 11.0% of revenue. The company attributed the revenue increase mainly to robust demand in the overall automotive market.

Bosch reported profit before tax excluding exceptional items of Rs 992 crore, Rs 130 crore below the reported figure including exceptional items. The exceptional item arose from reversal of a Rs 130 crore provision after reassessment of the service-award liability. The group decided to discontinue long-term-service recognition benefits for managerial staff from January 1, 2027.

The board approved the unaudited results on November 6, 2026, following Audit Committee review. S.R. Batliboi & Associates LLP completed its limited review for the quarter and six months ended September 30, 2026 and issued an unqualified conclusion. The auditor highlighted the common-control accounting for the Bosch Chassis Systems India acquisition, but did not modify its conclusion.

Which Bosch businesses drove Q2 sales growth?

Bosch's automotive product sales rose 29.8% year on year in Q2 FY 2026-27, exceeding the 28.2% increase in consolidated revenue. Management linked the automotive performance to demand across vehicle segments and festive-season momentum. It also said the inclusion of Bosch Chassis Systems India added advanced safety and braking systems to its mobility portfolio.

Power Solutions was the fastest-growing named business, rising 36.4% from the prior-year quarter on growth in passenger cars and commercial vehicles. Vehicle Motion grew 34.9%, driven by passenger cars. Both rates exceeded the 29.8% growth in overall automotive product sales, indicating faster expansion in those two named businesses than the automotive total.

The two-wheeler business grew 17.7%, supported by favourable product mix and increased original equipment manufacturer, or OEM, demand before the festive season. Mobility aftermarket sales rose 13.2%, led by spark plugs, diesel systems and rotating machines, as well as sales to the original-equipment segment. These businesses expanded at lower rates than Power Solutions and Vehicle Motion.

Beyond Mobility reported a 24.0% increase in net sales, driven by market demand and festive-season momentum in Power Tools. Bosch did not disclose revenue or profit figures for individual businesses. The released percentages therefore compare growth rates across operations, rather than quantify each operation's contribution to consolidated Q2 revenue of Rs 7,655 crore.

What did Bosch Chassis Systems India add to results?

Bosch acquired 100% of Bosch Chassis Systems India Private Limited on July 1, 2026 for Rs 9,023.8 crore, making it a wholly owned subsidiary. Consideration comprised Rs 9,015.1 crore in cash and 2,460 Bosch equity shares valued at Rs 8.7 crore, including securities premium. The subsidiary's performance was included in Bosch's Q2 FY 2026-27 consolidated results for the first time.

The acquisition was a business combination under common control because the acquired company was controlled by the same ultimate holding company before and after the transaction. Bosch incorporated its assets, liabilities and reserves at existing carrying amounts under Appendix C of Indian Accounting Standard 103, or Ind AS 103. This accounting treatment is distinct from the automotive-market demand cited as a driver of Q2 revenue growth.

Bosch restated comparative consolidated information for Q2 and the six months ended September 30, 2025, the year ended March 31, 2026, and Q1 ended June 30, 2026, as if the combination had occurred on April 1, 2025. Bosch Chassis Systems India changed its depreciation method from straight-line to diminishing balance from April 1, 2025, resulting in Rs 77.5 crore of additional depreciation and reducing profit before tax for the six months ended September 30, 2025 by that amount.

How did Bosch standalone results compare with consolidated results?

Bosch reported standalone revenue from operations of Rs 6,164 crore in Q2 FY 2026-27, up 28.6% year on year. Standalone profit before tax including exceptional items was Rs 901 crore, equal to 14.6% of revenue, and standalone profit after tax was Rs 675 crore, equal to 10.9%. Standalone revenue growth was 0.4 percentage points above consolidated revenue growth of 28.2%.

Consolidated revenue was Rs 1,491 crore higher than standalone revenue during the quarter, while consolidated profit after tax was Rs 165 crore above the standalone figure. These differences coincide with the first consolidation of Bosch Chassis Systems India in Q2, although Bosch did not disclose the subsidiary's separate revenue or profit contribution.

On November 6, 2026, Managing Director Guruprasad Mudlapur said demand had remained steady across vehicle segments and that festive-season momentum supported the quarter. He also cited technology, strategic partnerships, local engineering and portfolio expansion as elements of Bosch's response to changing automotive requirements. The announcement did not provide revenue or profit guidance for the rest of FY 2026-27.

What share actions did Bosch approve?

Bosch's board approved a proposal on November 6, 2026 to issue three fully paid bonus equity shares for every one fully paid equity share held, using retained earnings. It also approved a proposal to subdivide each Rs 10 equity share, including proposed bonus shares, into Rs 2 face-value shares. Both actions require shareholder approval.

The board has not set the record date for the three-for-one bonus issue or the subdivision. Separately, Bosch paid a final dividend of Rs 270 per Rs 10 equity share during the quarter ended September 30, 2026, following the board's May 20, 2026 declaration. The paid dividend is separate from the proposed bonus issue and subdivision.

Conclusion

Bosch combined 28.2% consolidated revenue growth with a 19% increase in profit after tax in Q2 FY 2026-27. Automotive product sales grew 29.8%, with Power Solutions up 36.4% and Vehicle Motion up 34.9%, while Bosch Chassis Systems India was included in consolidated reporting for the first time following the July 1, 2026 acquisition.

The disclosed next steps are shareholder approval for the proposed three-for-one bonus issue and share subdivision, followed by the board's determination of a record date. Bosch has not provided a financial target for the remainder of FY 2026-27, leaving the proposed corporate actions as the scheduled matters identified in the announcement.