Bosch Home Comfort India Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Bosch Home Comfort India Ltd trades at ₹1,704, in a confirmed uptrend and 3 weeks into that stage. That is +13.4% against its own 200-day average. It sits at 84% of a 52-week range of ₹1,099 to ₹1,819. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks.

Today the stock is in a confirmed uptrend — week 3 of stage 2, confirmed. At ₹1,704 it trades +13.4% versus its 200-day average and sits at 84% of its 52-week range (₹1,099–₹1,819).

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +48% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 6 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Bosch Home Comfort India Ltd trades at 229.0× P/E, at the pricey end of its own range (90th percentile). Its long-run median P/E is 78.1×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 229.0× is at the pricey end of its own range (90th percentile), against a long-run median of 78.1× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

🚨 Why the multiple sits where it does: over the past year annual EPS moved −104.9% against a −1.8% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the −5.1%/yr price move, ~−14.9%/yr came from earnings growth and ~+9.8 pp from the multiple (expanding); over 10y, of the +1.4%/yr price move, ~−12.0%/yr came from earnings growth and ~+13.4 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Bosch Home Comfort India Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

42.2/100 — rank 7 of 13 in Consumer Electronics · 82% evidence confidence

Bosch Home Comfort India Ltd scores 42.2 out of 100 against the 13 companies it is compared with in Consumer Electronics, ranking 7. Price leads the evidence: RS versus the benchmark is 16.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

The four contributions add to the total exactly: 12 + 5 + 6 + 19.2 = 42.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Bosch Home Comfort India Ltd reported ₹1,096 Cr of revenue in the Jun 26 quarter, +28.5% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 5.1% a year. The last full year, FY26, came in at ₹2,699 Cr. The last four reported quarters add to ₹2,942 Cr.

FY26 revenue came in at ₹2,699 Cr (−2.1% on the year), capping 10 years at 5.1% compound. The latest quarter (Jun 26) printed ₹1,096 Cr, +28.5% year on year — the 4th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +11.1% growth against the decade's 5.1% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +12.5% over the last 4 quarters against +11.9%/yr over the last 8 — stabilising; TTM profit −86.8% vs +58.1%/yr — rolling over.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Bosch Home Comfort India Ltd's operating margin is 3.7% in the Jun 26 quarter, −0.6 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −0.8% to 9.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 3.7%, −0.6 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −0.8%–9.0%.

🚨 Why the margin moved: operating margin went −0.5 pp year on year while gross margin went −0.8 pp — the loss came mostly from the gross line: input costs and pricing.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Bosch Home Comfort India Ltd earned ₹23.0 Cr of net profit in the Jun 26 quarter, +53.3% year on year. The full FY26 year was a loss of ₹3.0 Cr. That is 2.1% of the quarter's revenue. The same quarter a year earlier earned ₹15.0 Cr. 6 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹23.0 Cr, +53.3% year on year. On the full year, FY26 printed ₹−3.0 Cr (−105.1%).

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 323% of Bosch Home Comfort India Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹113 Cr of operating cash against ₹−3.0 Cr of profit. After ₹98.0 Cr of capital spending, ₹15.0 Cr was left as free cash.

FY26: operating cash of ₹113 Cr against reported profit of ₹−3.0 Cr, leaving free cash of ₹15.0 Cr after ₹98.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 323% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 323%: the cash cycle tightened 65 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Bosch Home Comfort India Ltd's cash conversion cycle runs 18 days in FY26, down from 83 days in FY21. Capital spending ran ₹181 Cr over the last 3 years. At FY26 sales of ₹2,699 Cr each day of that cycle holds about ₹7.4 Cr, so roughly ₹133 Cr sits inside the business at any moment.

FY26: debtors at 65 days, inventory at 166 days — roughly 5.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 18 days, tighter than FY21's 83.

The full loop: cash goes out to suppliers and production on day 0; stock waits 166 days to sell; customers pay about 65 days after that; and suppliers themselves are paid at 212 days — netting out to the 18-day cycle.

In money terms: at FY26 sales of ₹2,699 Cr, each day of the cycle holds about ₹7.4 Cr — so the 18-day loop keeps roughly ₹133 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹181 Cr over the last 3 fiscal years against ₹192 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹70.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Bosch Home Comfort India Ltd earns a ROCE of 5% in FY26. That is up from a trough of −10% in FY23. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is −0.1% net margin on 1.41× asset turns.

FY26 ROCE is 5%, recovered from a FY23 trough of −10% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): −0.1% net margin × 1.41× asset turns × 3.83× balance-sheet leverage ≈ −0.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Bosch Home Comfort India Ltd carries ₹82.0 Cr of borrowings against ₹500 Cr of equity in FY26, a debt-to-equity of 0.16. Operating profit covers the interest bill 6×. Over 5 years borrowings went from ₹89.0 Cr to ₹82.0 Cr. Capital spending ran ₹181 Cr across the last 3 of those years.

FY26: borrowings of ₹82.0 Cr against equity of ₹500 Cr — a debt-to-equity of 0.16. Operating profit covers the interest bill 6×. Over 5 years borrowings went from ₹89.0 Cr to ₹82.0 Cr while capital spending ran ₹181 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 1.7 points of Bosch Home Comfort India Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 6.3% of the company. Foreign institutions moved −0.9 points over the same window, to 0.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −1.7 points over 8 quarters to 6.3%; Foreign institutions: −0.9 points over 8 quarters to 0.4%; Promoters: +0.3 points over 8 quarters to 74.5%.

🚨 Why the register moved: domestic institutions drove it (−1.7 points), alongside foreign institutions (−0.9 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Bosch Home Comfort India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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