Key Quantitative Figures (Q2 FY27 vs. Q1 FY27 vs. Q2 FY26)

Income Statement (₹ in millions):

  • Revenue from Operations: ₹4,711.2 (Q2 FY27); ₹10,955.2 (Q1 FY27); ₹4,051.4 (Q2 FY26)
  • Total Income: ₹4,717.7 (Q2 FY27); ₹11,013.3 (Q1 FY27); ₹4,163.1 (Q2 FY26)
  • Loss before tax: ₹(545.6) (Q2 FY27); Profit of ₹316.9 (Q1 FY27); Loss of ₹(526.1) (Q2 FY26)
  • Net Loss: ₹(416.6) (Q2 FY27); Net Profit of ₹227.9 (Q1 FY27); Net Loss of ₹(399.6) (Q2 FY26)
  • Earnings Per Share (EPS): ₹(15.3) (Q2 FY27); ₹8.4 (Q1 FY27); ₹(14.7) (Q2 FY26)

Half-Yearly Performance (H1 FY27 vs. H1 FY26):

  • Revenue from Operations: ₹15,666.4 (H1 FY27); ₹12,577.7 (H1 FY26)
  • Net Loss: ₹(188.7) (H1 FY27); ₹(247.1) (H1 FY26)
  • EPS: ₹(6.9) (H1 FY27); ₹(9.1) (H1 FY26)

Balance Sheet (as of September 30, 2026 vs. March 31, 2026):

  • Total Assets: ₹15,343.8 million (Sep-26); ₹19,154.5 million (Mar-26)
  • Inventories: ₹7,131.7 million (Sep-26); ₹8,452.8 million (Mar-26)
  • Trade Receivables: ₹2,104.8 million (Sep-26); ₹4,777.1 million (Mar-26)
  • Cash & Cash Equivalents: ₹174.7 million (Sep-26); ₹557.3 million (Mar-26)
  • Borrowings (Current): ₹2,690.4 million (Sep-26); ₹600.2 million (Mar-26)
  • Total Equity: ₹4,820.2 million (Sep-26); ₹5,005.1 million (Mar-26)

Exceptional Items

The notes detail several exceptional items from previous periods that impacted comparability:

  • Q2 FY25 / H1 FY25 / FY26: Recognition of a one-time retention bonus expense of ₹65.0 million related to the global acquisition by Robert Bosch GmbH.
  • FY26: An impact of ₹140.8 million assessed due to the notification of four Labour Codes by the Government of India effective November 21, 2025.
  • Q2 FY25 / H1 FY25 / FY26: Severance pay expenses of ₹26.1m, ₹59.1m, and ₹89.7m, respectively, paid due to realignment/reorganization/VRS.
  • Q2 FY25 / H1 FY25: Recognition of an estimated inventory loss (₹311.0m) and GST reversal (₹95.7m) from a warehouse fire on June 24, 2025, plus an ₹8.6m insurance deduction.
  • FY26: Received ₹503.7 million as a full and final insurance settlement for the fire, plus ₹13.4m from scrap sales. An excess of ₹112.0m was recognized as an exceptional item.

Segment-Wise Performance (Q2 FY27)

The company operates in two segments:

1. Cooling products for comfort and commercial use: Revenue of ₹4,500.0 million; Segment EBIT loss of ₹(551.2) million before exceptional items.

2. Design and development services: Revenue of ₹315.6 million; Segment EBIT profit of ₹35.2 million.

Other Material Disclosures

  • Taxation: Current tax of ₹9.0 million represents a liability in a foreign jurisdiction. Due to accumulated tax losses in India, a tax credit is not available. A deferred tax credit of ₹(138.0) million was recorded in Q2 FY27.
  • Business Seasonality: The disclosure highlights that the air conditioning business is seasonal, with major market demand generated during the first and last quarters of the financial year.
  • Name Change: The company was renamed from Johnson Controls-Hitachi Air Conditioning India Limited to Bosch Home Comfort India Limited following its acquisition by Robert Bosch GmbH. The change was effective November 4, 2025.
  • Promoter Shareholding: In the previous quarter (Q1 FY27), Bosch Global Software Technologies Private Limited sold 2,092,440 equity shares (7.70% of paid-up capital) via an Offer for Sale to meet Minimum Public Shareholding (MPS) requirements. Promoter holding reduced from 82.22% to 74.52%.

Cash Flow (H1 FY27)

Net cash used in operating activities was ₹(1,844.6) million. Net cash used in investing activities was ₹(533.2) million, primarily for the purchase of Property, Plant and Equipment. Net cash from financing activities was ₹1,993.6 million, primarily from proceeds from short-term borrowings.