| Revenue growth | Revenue +36% YoY on volumes and price pass-through |
|---|---|
| Margins | Margin 7.66% vs 10.04% YoY, 8.47% QoQ |
| Order book | New SOPs from multiple customers: HVAC, compressor, HX |
| Demand visibility | Market demand up; new model SOPs awarded |
Growth
Q2 revenue +36.27% YoY, +16.16% QoQ; EBITDA +3.96% YoY; PBT +10.02%; PAT +9.93%. H1 revenue +26.90%, PAT +5.86%.
Outlook
No numeric growth guidance. Targets electric compressor Karsanpura SOP in FY28, BEV/SHEV expansion, FX hedging and localisation.
Risks
Op. EBITDA margin down to 7.66% from 10.04% YoY. Material cost rose to 76.57% of sales on commodity, FX and mix. Other income fell.
Investor Presentation filed with BSE, NSE: SUBROS. Summary written with AI assistance from the document.
Subros Ltd: key numbers
- Share price
- ₹584.20
- Market cap
- ₹3,811 Cr
- Revenue (annual)
- ₹3,756 Cr
- Net profit (annual)
- ₹165.7 Cr
- P/E (TTM)
- 22.9×Sector 31.3×
- Promoter holding
- 36.79%+0.00% QoQ
- FII holding
- 32.70%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Subros Ltd
All →Subros Credit Rating
ICRA assigned or reaffirmed Subros's bank facility ratings, with total rated facilities rising from Rs.305 Crore to Rs.370 Crore. The long-term term loan rating is [ICRA]AA (Stable), raised to Rs.140 Crore from Rs.40 Crore.
Subros Q2 FY27 Results: Net Profit ₹44.6 Cr, Up 9.6% YoY
Subros Ltd reported revenue from operations of ₹1,199 Cr (+36.3% YoY) and net profit of ₹44.6 Cr (+9.6% YoY) for Q2 FY27.
- Key figure
- Net profit ₹44.6 Cr · +9.6% YoY
Subros Production Started
Subros commenced commercial production at its new greenfield HVAC and Hose & Tubes plant. The 4.5 lakh units/annum capacity required ₹150 Crore investment.
- Value
- ₹150.0 Cr
- HVAC and Hose & Tubes / air-conditioning system production capacity
- 450000 units per annum
Subros Production Started
Subros started commercial production at its new Kharkhoda greenfield plant on 28 October 2026. The plant adds 4.5 lakh units per annum of HVAC and hose capacity.
- HVAC and hose & tubes manufacturing capacity
- 4.5 lakh units per annum
Subros Bags ₹1,225 Cr Order from Maruti Suzuki India Limited
Subros received a new business award from Maruti Suzuki India for supply of HVAC assemblies, valued at approximately Rs.1,225 Crore over about seven years. The award strengthens its western region presence and its relationship with MSIL.
- Value
- ₹1,225 Cr
- From
- Maruti Suzuki India Limited (MSIL)
- Execution
- Approximately seven years, commencing from respective start of production as per customer milestone
Subros Board Meeting Date
Subros Limited schedules a 3 November 2026 board meeting to consider standalone and consolidated unaudited half-year results to September 2026. The trading window is closed from 1 October to 5 November 2026.