BOSCH-HCIL

BOSCH HOME COMFORT INDIA LIMITED

Residential and light-commercial air-conditioning products under Bosch brand

Consumer Discretionary›Consumer Durables›Consumer Durables›Household Appliances

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Key metrics

Price as of 2026-10-16

Stock price
₹1832.60
Market cap
4,983 Cr
Stock P/E
1067.0
P/B
9.96
Dividend yield
2.8%
ROE (FY26)
-0.6%
ROCE (FY26)
2.0%
Operating margin (FY26)
0.4%
Debt / equity (FY26)
0.12

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Bosch Home Comfort India (formerly Johnson Controls-Hitachi Air Conditioning India) makes and sells air conditioning products for homes and commercial use in India, and is majority-owned by the Bosch Group.

Company snapshot

10thBy market cap

Ranked among 21 companies in Household Appliances.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 96.9% of revenue

SegmentRevenue shareRevenuePBTAssets
Cooling products for comfort and commercial use
96.9%
418 Cr-5 Cr1,424 Cr
Design and Development Services
4.8%
21 Cr2 Cr115 Cr

Shares add up to 102% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.12x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales280 Cr300 Cr772 Cr996 Cr396 Cr432 Cr933 Cr853 Cr405 Cr476 Cr965 Cr1,096 Cr
Operating expenses (approx.)324 Cr303 Cr690 Cr939 Cr423 Cr422 Cr841 Cr816 Cr441 Cr477 Cr898 Cr1,055 Cr
EBITDA-44 Cr-3 Cr81 Cr57 Cr-27 Cr10 Cr92 Cr36 Cr-36 Cr-0.93 Cr68 Cr41 Cr
OPM %-15.6%-1.1%10.5%5.7%-6.7%2.3%9.8%4.3%-8.8%-0.2%7.0%3.7%
Other income2 Cr2 Cr3 Cr11 Cr7 Cr4 Cr4 Cr5 Cr11 Cr2 Cr0.62 Cr6 Cr
Interest5 Cr5 Cr2 Cr1 Cr1 Cr1 Cr1 Cr2 Cr3 Cr4 Cr3 Cr2 Cr
Depreciation16 Cr17 Cr16 Cr17 Cr19 Cr17 Cr18 Cr16 Cr15 Cr15 Cr12 Cr13 Cr
Profit before tax-75 Cr-35 Cr65 Cr49 Cr-39 Cr-4 Cr76 Cr21 Cr-53 Cr-25 Cr56 Cr32 Cr
Tax %24.5%23.1%25.0%26.3%23.8%9.2%26.5%28.0%24.0%23.4%27.4%28.1%
Net profit-56 Cr-27 Cr49 Cr36 Cr-30 Cr-3 Cr56 Cr15 Cr-40 Cr-19 Cr41 Cr23 Cr
EPS (₹)₹-20.70₹-10.00₹18.00₹13.30₹-11.10₹-1.20₹20.60₹5.60₹-14.70₹-7.00₹15.00₹8.30

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,099 Cr2,258 Cr2,241 Cr2,197 Cr1,647 Cr2,159 Cr2,384 Cr1,919 Cr2,756 Cr2,699 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,931 Cr2,059 Cr2,078 Cr2,025 Cr1,529 Cr2,063 Cr2,403 Cr1,920 Cr2,625 Cr2,631 CrSign in free for the trailing twelve months
EBITDA168 Cr199 Cr164 Cr172 Cr117 Cr97 Cr-19 Cr-1 Cr132 Cr67 CrSign in free for the trailing twelve months
OPM %8.0%8.8%7.3%7.8%7.1%4.5%-0.8%-0.1%4.8%2.5%Sign in free for the trailing twelve months
Other income7 Cr7 Cr15 Cr8 Cr8 Cr8 Cr12 Cr10 Cr26 Cr19 CrSign in free for the trailing twelve months
Interest4 Cr2 Cr3 Cr5 Cr14 Cr9 Cr8 Cr17 Cr6 Cr11 CrSign in free for the trailing twelve months
Depreciation52 Cr53 Cr44 Cr56 Cr75 Cr72 Cr75 Cr64 Cr70 Cr58 CrSign in free for the trailing twelve months
Profit before tax118 Cr151 Cr132 Cr118 Cr43 Cr23 Cr-105 Cr-99 Cr82 Cr0.04 CrSign in free for the trailing twelve months
Tax %31.3%33.8%35.1%29.4%23.8%28.6%21.9%23.5%28.5%7250.0%Sign in free for the trailing twelve months
Net profit81 Cr100 Cr86 Cr84 Cr33 Cr16 Cr-82 Cr-76 Cr59 Cr-3 CrSign in free for the trailing twelve months
EPS (₹)₹29.90₹36.80₹31.60₹30.70₹12.20₹5.90₹-30.20₹-27.80₹21.60₹-1.10Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%——0.0%—Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital27 Cr27 Cr27 Cr27 Cr27 Cr27 Cr27 Cr27 Cr27 Cr27 Cr
Reserves413 Cr508 Cr586 Cr661 Cr695 Cr713 Cr632 Cr556 Cr614 Cr473 Cr
Borrowings60 Cr13 Cr190 Cr159 Cr—43 Cr143 Cr——60 Cr
Other liabilities621 Cr708 Cr765 Cr737 Cr921 Cr1,011 Cr986 Cr1,074 Cr1,158 Cr1,355 Cr
Total liabilities1,121 Cr1,256 Cr1,568 Cr1,584 Cr1,643 Cr1,794 Cr1,789 Cr1,657 Cr1,799 Cr1,915 Cr
Fixed assets (net)234 Cr222 Cr216 Cr380 Cr416 Cr317 Cr334 Cr345 Cr331 Cr293 Cr
CWIP1 Cr2 Cr94 Cr7 Cr9 Cr70 Cr11 Cr31 Cr8 Cr69 Cr
Investments——1 Cr1 Cr1 Cr13 Cr0.89 Cr0.87 Cr0.78 Cr0.76 Cr
Loans & advances——1 Cr1 Cr2 Cr1 Cr0.85 Cr0.50 Cr0.07 Cr0 Cr
Inventories460 Cr442 Cr555 Cr727 Cr704 Cr822 Cr869 Cr656 Cr773 Cr845 Cr
Trade receivables282 Cr414 Cr477 Cr255 Cr264 Cr411 Cr321 Cr379 Cr420 Cr478 Cr
Cash & bank23 Cr35 Cr30 Cr18 Cr122 Cr30 Cr22 Cr72 Cr137 Cr56 Cr
Other assets119 Cr140 Cr194 Cr196 Cr124 Cr128 Cr231 Cr173 Cr129 Cr174 Cr
Total assets1,121 Cr1,256 Cr1,568 Cr1,584 Cr1,643 Cr1,794 Cr1,789 Cr1,657 Cr1,799 Cr1,915 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity172 Cr97 Cr-81 Cr140 Cr321 Cr-55 Cr-31 Cr254 Cr83 Cr113 Cr
Cash from investing-41 Cr-32 Cr-95 Cr-107 Cr-26 Cr-46 Cr-43 Cr-32 Cr-0.14 Cr-94 Cr
Cash from financing-110 Cr-53 Cr170 Cr-45 Cr-191 Cr9 Cr65 Cr-172 Cr-18 Cr-101 Cr
Net cash flow20 Cr12 Cr-6 Cr-12 Cr104 Cr-92 Cr-8 Cr50 Cr66 Cr-81 Cr
Free cash flow (OCF − Capex)127 Cr60 Cr-189 Cr26 Cr293 Cr-104 Cr-79 Cr217 Cr65 Cr15 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %24.6%28.0%16.8%14.6%7.9%4.1%-12.2%-14.1%13.7%2.0%
ROE %18.5%18.7%14.0%12.1%4.6%2.2%-12.5%-13.0%9.2%-0.6%
Debtor days49677742586949725564
Inventory days238191194224343238216227164203
Days payable229214189169309209176273179259
Cash conversion cycle5744839793998926408
OCF / EBITDA %102.3%48.9%-49.5%81.2%273.5%-56.9%——63.2%n.m.
OCF / EBITDA % (3 years)——35.4%29.2%83.8%105.2%120.6%n.m.n.m.n.m.
Debt / equity0.140.020.310.230.000.060.22——0.12
Current ratio1.281.441.331.391.531.421.291.201.281.08
Net debt / EBITDA0.22-0.110.980.82-1.040.13——-1.040.06