Bosch : Letter to SE dated 11.02.2026 – Transcript

Corporate Relationship Department BSE Limited

1stFloor, New Trading Ring Rotunda Building

Phiroze Jeejeebhoy Towers Dalal Street, Fort

Mumbai - 400 001

The Manager Listing Department

National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G Bandra-Kurla Complex

Bandra (E) Mumbai - 400 051

Bosch Limited Post Box No:3000

Hosur Road, Adugodi Bangalore-560030 Karnataka, India

Tel [phone]

https://www.bosch.in

CIN: L85110KA1951PLC000761

[e-mail]

February 11, 2026

Dear Sir/Madam,

Sub: Compliance under Regulation 30 and 46(2)(oa) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) regulations, 2015- Disclosure of Transcript of the Investors' Concall

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find attached herewith the transcript of the investors' call with Investors/Analysts held on February 09, 2026.

This is for your Information and records.

[[

Yours faithfully,

for Bosch Limited,

Digitally signed by

Venkatarama Venkataraman

Srinivasan

n Srinivasan

V Srinivasan

Date: 2026.02.11

18:19:26 +05'30'

Company Secretary & Compliance Officer

Registered Office: Bosch Limited, Hosur Road, Bangalore-560030, Karnataka, India Managing Director: Guruprasad Mudlapur, Joint Managing Director: Sandeep Nelamangala

"Bosch Limited

3Q FY '25-'26 Post Results Conference Call" February 09, 2026

Management: Mr. Guruprasad Mudlapur - Managing Director and Chief Technology Officer -Bosch Limited Ms. Karin Gilges - Chief Financial Officer -Bosch Limited Moderator: Mr. Annamalai Jayaraj - B&K Securities Annamalai Jayaraj: Ladies and gentlemen, good day, and welcome to Bosch Limited 3Q FY '25-'26 Post Results Conference Call hosted by B&K Securities. From Bosch management, we have with us today Mr. Guruprasad Mudlapur, Managing Director and Chief Technology Officer; Ms. Karin Gilges, Chief Financial Officer.

At this point, all participants will be in the listen-only mode and there will be an opportunity for you to ask questions after the management presentation and opening remarks. Over to you, sir.

Guruprasad Mudlapur: Okay. Thank you, and good afternoon, everyone, and welcome to our Q3 FY '26 earnings conference call. We'll begin today with the macroeconomic overview, followed by an update on the automotive market. From there, I'll walk you through the financial performance for the quarter and conclude with key business highlights. We will then open the call for a Q&A session.

The global economy is adjusting to a landscape reshaped by geopolitical events and realignments in the trade relationships among countries. There was tempering of higher tariffs in a few cases due to which subsequent resets -- due to subsequent resets in deals. However, the overall business environment remains volatile.

As for International Monetary Fund, the global growth is projected to slow down from 3.2% in 2025 to 3.1% in 2026. The closer home, the Indian economy continues to demonstrate powerful resilience and showcases higher growth compared to its peers.

IMF has revised upwards its estimate of India's GDP growth in the current financial year 2025, '26 to 7.3% from its earlier prediction of 6.6%, attributed to resilient domestic demand and easing inflation. India also benefits from tailwinds to be gained from the now agreed FTA with the EU and the handshake on the trade deal with U.S. and other regions, including Australia, U.K. and New Zealand.

With the RBI maintaining a stable 5.25% repo rate, we see continued strength in domestic demand across the Passenger and Commercial Vehicle segments, especially with the expectation of transmission of earlier rate cuts by RBI.

The Union budget 2026-'27 presented earlier this month sends a strong and reassuring signal of policy continuity and intent for India's manufacturing-led growth and is set to maintain the automotive industry's growth momentum through key measures like extension of basic customs duty exemptions on lithium-ion cell components for batteries, launch of the India Semiconductor Mission 2.0, support for mineral-rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated Rare Earth Corridors to promote mining, processing, research and manufacturing and continued investment in infrastructure, including a new freight corridor. Building on these supportive policy tailwinds, we are confident that the automotive and other supporting industries growth outlook remains robust.

Next Slide, please. India's automotive production remained robust in the October-December quarter, driven by broad-based strength across Passenger Vehicles, 2-wheelers and Commercial segments as OEMs ramped up output to meet domestic and export demand. Higher festive

demand, rural market recovery and improved supply chain conditions supported manufacturing activity across most vehicles categories.

Production momentum was further bolstered by policy tailwinds, including GST rationalization, festive season and new model launches. This productive phase highlighted the sector's resilience and manufacturing competitiveness through the third quarter. After a subdued start, the passenger vehicle market recovered sharply to finish 2025 on a strong note.

This turnaround was driven by supportive government policies, including GST rationalization, the tax relief, which subsequently improved consumer sentiment and showroom traffic. SUVs spearheaded this recovery with demand spurred by attractive discounts and seasonal buying ahead of anticipated price hikes.

The Heavy Commercial Vehicle production recorded steady growth, driven by robust infrastructure demand, strong freight movement and continued momentum from GST 2.0, festive demand, the government fleet orders and ongoing road construction and mining activity.

The bus segment showed notable traction driven by school, intercity, institutional transport orders alongside steady fleet additions by state and private operators. The outlook remains strong. The demand expected to be further bolstered by ongoing government capex and fleet replacement cycles.

The LCV production remained robust, fueled by GST rationalization and a visible revival in demand following GST 2.0. The fleet continues to benefit significantly from growth of ecommerce, which drives high demand for last-mile delivery and urban logistics. This positive momentum was sustained through the end of the year, reflected in rising fleet utilization and increased short-haul flight activity.

The 3-wheeler segment saw a sharp production increase driven by strong demand for both urban mobility and last mile delivery -- cargo delivery during the festive season, supported by favorable government policies, OEMs ramped up production to meet this demand, allowing the segment to maintain healthy momentum through the end of the period. Tractor production showed strong momentum, supported by healthy rabi sowing activity and carryover liquidity from a robust kharif harvest, which improved farmer confidence and cash flows. Improved water availability and healthy reservoir levels further aided demand.

Supportive government measures, including lower GST on tractors and state-level subsidies enhanced affordability, while rising mechanization and steady non-agricultural demand from construction and haulage provided additional support. With positive rural sentiment, the tractor market remains well positioned to sustain its growth.

The 2-Wheeler production was moderate in October as OEMs adjusted output following earlier inventory buildup. Production picked up in November and December as manufacturer ramped up output to meet festive and pre-wedding -- wedding season demand, a recovery that was supported by favorable GST reductions.

Next slide, please. Looking ahead to fiscal year 2026, we anticipate a period of steady and robust growth for Indian automotive industry. The outlook is very positive as we expect 3 of the core segments, the Passenger Cars, Tractors and 2-Wheelers to achieve all-time high production levels. This growth is broad-based, underpinned by strong economic fundamentals and supportive policies.

In Passenger Vehicles, we expect strong -- we expect record performance driven by improved affordability, thanks to easing interest rates and favorable GST reforms, which will stimulate strong consumer demand. The Commercial Vehicle segment is poised for healthy growth fueled by sustained infrastructure spending and continued expansion of e-commerce logistics.

We expect LCV sub-segment to be a standout performer, achieving its all-time high levels. The Tractor business is also projected to hit a record, supported by strong rural sentiment, GST norms and ongoing state subsidies. And finally, the 2-Wheeler segment is set to scale a new peak. This will be driven by a powerful combination of improving rural sentiment, rising disposable incomes, improved affordability and recent GST cuts and tax rebates for individuals earning up to INR12 lakhs, boosting consumer confidence.

Next slide, please. Now I'm going to go through the sector-wise sales performance. Quarter-on-quarter, the Mobility business has shown 18.5% in October, December 2025 as compared to October, December 2024, driven mainly from the Power Solutions business, which grew by 19.5%, mainly on account of growth in Passenger Cars and Off-highway segments.

The mobility aftermarket recorded a growth of 5.3%, mainly on account of GST reforms, strong growth in OE segment and growth across key product groups of diesel, wipers and braking systems. The 2-Wheeler business grew by 58.3%, mainly on account of higher sale of exhaust gas sensors due to ramp-up for OBD-II norms implementation from 1st April 2025.

The Consumer Goods business declined marginally by 3.1%. The Mobility business has grown by 14.9% in April, December 2025 as compared to April, December '24, driven mainly from the Power Solutions business, which grew by 14.1%, mainly on account of growth in Commercial Vehicles and Off-highway segments.

The Mobility Aftermarket business grew 4.8%, mainly on account of sustained momentum across key product categories, including diesel, wipers, braking systems and filters. This overall growth was further reinforced by robust momentum in the OE segment. As already seen in quarter-on-quarter growth, the 2-Wheeler business has grown significantly due to the ramp-up of exhaust sensors resulting from OBD-II norms implementation from April 1, 2025. The Consumer Goods business grew by 2.8%. The growth is attributed to new launches in entry-level mid-price point segment, measuring tools and outdoor garden equipments.

Next slide, please. Quarter-on-quarter, revenue from operations in October, December '25 stood at INR48,856 million, which grew by 9.4% over October, December 2024. The growth was driven mainly by higher sales in Power Solutions and 2-Wheeler powersports segments as seen in the previous slide. Likewise, revenue from -- revenue for the period April, December 2025 grew by 9.8% over April, December '24 from INR1,31,768 million to INR1,44,690 million.