Bosch Home Comfort India Ltd
Johnson Controls-Hitachi Air Conditioning India Ltd is primarily engaged in the business of manufacturing, selling and trading of air conditioners, refrigerators, chillers and VRS systems.[1]
- Market Cap ₹ 3,471 Cr.
- Current Price ₹ 1,276
- High / Low ₹ 1,854 / 1,021
- Stock P/E 108
- Book Value ₹ 176
- Dividend Yield 2.82 %
- ROCE 13.8 %
- ROE 9.96 %
- Face Value ₹ 10.0
Pros
- Promoter holding has increased by 7.97% over last quarter.
Cons
- Stock is trading at 7.27 times its book value
- The company has delivered a poor sales growth of 4.64% over past five years.
- Company has a low return on equity of -2.78% over last 3 years.
- Company might be capitalizing the interest cost
- Promoters have pledged 29.2% of their holding.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Household Appliances
Part of BSE Allcap BSE Consumer Discretionary
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,100 | 1,573 | 1,641 | 1,917 | 2,185 | 2,241 | 2,197 | 1,647 | 2,159 | 2,384 | 1,919 | 2,756 | 2,666 | |
| 1,052 | 1,435 | 1,518 | 1,749 | 1,986 | 2,078 | 2,023 | 1,529 | 2,062 | 2,403 | 1,919 | 2,622 | 2,574 | |
| Operating Profit | 48 | 138 | 123 | 168 | 199 | 164 | 174 | 118 | 97 | -18 | -0 | 135 | 91 |
| OPM % | 4% | 9% | 7% | 9% | 9% | 7% | 8% | 7% | 4% | -1% | -0% | 5% | 3% |
| 6 | 7 | 2 | 7 | 7 | 15 | 6 | 15 | 7 | -4 | -18 | 23 | 1 | |
| Interest | 12 | 8 | 10 | 4 | 2 | 3 | 5 | 14 | 9 | 8 | 17 | 6 | 10 |
| Depreciation | 30 | 36 | 46 | 52 | 53 | 44 | 56 | 75 | 72 | 75 | 64 | 70 | 63 |
| Profit before tax | 11 | 101 | 69 | 118 | 151 | 132 | 118 | 43 | 23 | -105 | -99 | 82 | 20 |
| Tax % | 29% | 23% | 27% | 31% | 34% | 35% | 29% | 24% | 29% | -22% | -24% | 28% | |
| 8 | 78 | 50 | 81 | 100 | 86 | 84 | 33 | 16 | -82 | -76 | 59 | 12 | |
| EPS in Rs | 2.96 | 28.60 | 18.38 | 29.91 | 36.83 | 31.61 | 30.72 | 12.17 | 5.93 | -30.21 | -27.84 | 21.64 | 4.53 |
| Dividend Payout % | 51% | 5% | 8% | 5% | 4% | 5% | 0% | 0% | 0% | 0% | 0% | 69% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 5% |
| 3 Years: | 8% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -2% |
| 5 Years: | -6% |
| 3 Years: | 54% |
| TTM: | -39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | -13% |
| 3 Years: | 5% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 0% |
| 3 Years: | -3% |
| Last Year: | 10% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
| Reserves | 213 | 286 | 331 | 413 | 508 | 586 | 661 | 695 | 713 | 632 | 556 | 614 | 450 |
| 125 | 140 | 160 | 60 | 13 | 190 | 187 | 89 | 112 | 193 | 48 | 42 | 181 | |
| 395 | 626 | 591 | 621 | 708 | 736 | 709 | 832 | 942 | 936 | 1,026 | 1,116 | 548 | |
| Total Liabilities | 760 | 1,078 | 1,110 | 1,121 | 1,256 | 1,539 | 1,584 | 1,643 | 1,794 | 1,789 | 1,657 | 1,799 | 1,206 |
| 195 | 243 | 265 | 257 | 244 | 232 | 401 | 428 | 391 | 382 | 349 | 334 | 309 | |
| CWIP | 2 | 3 | 1 | 4 | 2 | 94 | 6 | 9 | 9 | 12 | 32 | 9 | 36 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 563 | 833 | 843 | 859 | 1,010 | 1,213 | 1,177 | 1,205 | 1,394 | 1,395 | 1,276 | 1,457 | 861 | |
| Total Assets | 760 | 1,078 | 1,110 | 1,121 | 1,256 | 1,539 | 1,584 | 1,643 | 1,794 | 1,789 | 1,657 | 1,799 | 1,206 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 58 | 55 | 62 | 172 | 97 | -81 | 140 | 321 | -55 | -31 | 254 | 83 | |
| -72 | -51 | -69 | -41 | -32 | -95 | -107 | -26 | -46 | -43 | -32 | -0 | |
| -56 | 0 | 6 | -110 | -53 | 170 | -45 | -191 | 9 | 65 | -172 | -18 | |
| Net Cash Flow | -70 | 4 | -2 | 20 | 12 | -6 | -12 | 104 | -92 | -8 | 50 | 66 |
| Free Cash Flow | 2 | -22 | -8 | 128 | 62 | -183 | 28 | 294 | -102 | -77 | 221 | 68 |
| CFO/OP | 136% | 55% | 71% | 125% | 73% | -18% | 108% | 275% | -45% | 146% | -86,603% | 58% |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 66 | 62 | 54 | 69 | 73 | 42 | 59 | 70 | 49 | 72 | 56 |
| Inventory Days | 152 | 186 | 178 | 138 | 116 | 140 | 190 | 249 | 199 | 177 | 178 | 146 |
| Days Payable | 159 | 190 | 149 | 133 | 130 | 137 | 144 | 224 | 175 | 143 | 214 | 159 |
| Cash Conversion Cycle | 55 | 63 | 92 | 59 | 55 | 77 | 89 | 83 | 94 | 83 | 36 | 42 |
| Working Capital Days | 15 | 23 | 20 | 29 | 43 | 43 | 49 | 53 | 60 | 40 | 18 | 21 |
| ROCE % | 6% | 27% | 16% | 24% | 29% | 20% | 15% | 6% | 4% | -10% | -7% | 14% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Number of Sales Points Count |
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| Export Contribution to Total Turnover % |
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| Installed Capacity - Room Air Conditioners (RAC) Units per annum |
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| Market Share - Indian AC Industry (Volume) % |
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| Active Dealers/Distributors Count |
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| Trade Receivables Turnover Ratio Ratio |
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| Installed Capacity - Ductable Units Units per annum |
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Documents
Announcements
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
3 Apr - Company not a SEBI 'Large Entity'; no fund-raising compliance for FY2026-27.
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Updation On Intimation Under Regulation 30 Of The SEBI - LODR Regarding Restriction On Supply Of PNG
1 Apr - 1 Apr 2026: Gas supply restricted due to Middle East war; company reports adequate finished goods, no immediate material impact, no further disclosure required.
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Announcement under Regulation 30 (LODR)-Change in Management
24 Mar - Appointed Rishi Mehta as Executive Director-Finance & CFO effective 1 April 2026, term until 30 Sept 2028.
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Intimation Under Regulation 30 Of The SEBI - LODR Regarding Restriction On Supply Of PNG
10 Mar - Force majeure: Middle East war constrains maritime routes; Ministry order (9 Mar 2026) may reduce gas supply, affecting production.
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Company Intimations Under Regulation 30 Regarding Resignation Of Mr. Nobuyuki Tao (DIN 08080705) And Mr. Yoshikazu Ishihara (DIN 07998690)
2 Mar - Two directors (N. Tao, Y. Ishihara) resigned effective 28 Feb 2026 closing of business hours.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Product Portfolio
The company's product portfolio includes various types of room air conditioners (RAC), VRF systems, package air conditioners, chillers, refrigerators, and aqua-guards. [1]