Bosch Q2 FY27 Results (NSE: BOSCHLTD)

6 Nov 2026 · Analysis by Alpha Inflection

Signal: Margin expansion

The read

The trajectory improved materially: revenue growth accelerated to 21.8% YoY from 9.1% in Q2FY26, led by automotive products revenue growth of 29.0%, while segment result grew 28.3% YoY to 8605 million. However, the 8394 million PAT includes a 1240 million exceptional provision reversal, so underlying earnings momentum is weaker than reported profit growth.

P&L walk

Standalone revenue was 58419 million, up 21.8% YoY and flat QoQ, led by automotive products revenue of 55097 million, while segment result increased 28.3% YoY to 8605 million; PAT was 8394 million, supported by a 1240 million exceptional reversal.

Segments

Automotive products drove the quarter with 55097 million revenue, up 29.0% YoY, and 7596 million segment result, while consumer goods delivered the sharpest profit recovery at 754 million versus 127 million YoY despite revenue growth of 17.1%.

Key positives

• Automotive products revenue was 55097 million, up 29.0% YoY and 5.3% QoQ, materially outpacing the 21.8% consolidated operating-revenue growth.
• Total segment result rose 28.3% YoY to 8605 million, with reported segment-result margin improving to 14.7% from 13.9% YoY.
• Consumer-goods segment result increased to 754 million from 127 million YoY, a 493.7% improvement, indicating a strong recovery in that smaller business.

Key concerns

• PAT of 8394 million includes a 1240 million exceptional reversal related to discontinuation of long-term service benefits; reported profit growth therefore overstates recurring earnings momentum.
• Unallocable corporate expenditure rose 41.6% YoY to 1642 million, faster than revenue growth of 21.8%.
• Unallocable income declined 58.3% YoY to 875 million, reducing a non-operating support to pre-tax profit.

View original filing

Research and educational content only. Not investment advice.