Bosch Limited (BOSCHLTD.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-29.2%

₹35,335.38

vs ₹49,905.00 price

Levered DCF

₹40,923.01

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	30.57×	40.81×	35.85×	40.08×	34.95×	86.2×	48.06×	34.57×
P/B	5.71×	5.95×	7.41×	5.19×	3.99×	4.23×	2.99×	6.04×
P/S	4.23×	4.6×	5.4×	3.88×	3.66×	4.33×	2.88×	4.61×
EV / EBITDA	20.8×	34.72×	42.33×	30.36×	28.58×	34.76×	18.36×	25.09×
Gross margin	26.5%	35.2%	33.7%	34.8%	36.0%	39.8%	44.8%	44.2%
Operating margin	11.4%	26.2%	24.8%	26.3%	26.5%	28.8%	31.3%	32.8%
Net margin	13.8%	11.3%	15.1%	9.7%	10.5%	5.0%	6.8%	13.4%
Current ratio	1.96×	1.78×	1.95×	1.76×	1.94×	1.95×	1.91×	1.99×
Debt / equity	0.01×	0.01×	0×	0×	0.01×	0.01×	0.01×	0×
Interest coverage	85.36×	274.16×	327.71×	320.12×	163.87×	197.49×	295.23×	295.21×
Dividend yield	1.8%	0.6%	1.6%	2.1%	0.8%	0.7%	1.3%	0.6%
Payout ratio	54.4%	24.9%	57.4%	84.8%	27.9%	64.2%	57.4%	19.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	18.7%	14.6%	20.7%	13.0%	11.4%	4.9%	7.0%	17.5%
Return on invested capital	11.5%	24.6%	26.1%	26.1%	22.5%	22.9%	20.1%	28.3%
Return on assets	12.8%	10.0%	14.4%	8.8%	7.9%	3.3%	4.9%	12.6%
Free cash flow yield	2.7%	2.9%	1.0%	1.0%	-0.5%	1.2%	3.2%	0.0%
Earnings yield	3.3%	2.5%	2.8%	2.5%	2.9%	1.2%	2.3%	2.9%
Enterprise value	₹845B	₹820.1B	₹888.9B	₹568B	₹425.1B	₹413.2B	₹275.3B	₹548.9B
Net debt / EBITDA	-0.07×	-0.1×	-0.2×	-0.17×	-0.05×	-0.2×	-0.12×	-0.09×
Cash conversion cycle (days)	36	44	36	53	60	-0	26	46