Subros Ltd
Subros Limited was incorporated in 1985 as a joint venture public limited company with Suri family of India (36.79% ownership), Denso Corporation, Japan (20% ownership) & Suzuki Motor Corporation, Japan (11.96% ownership). It is engaged in the business of manufacturing and supplying Auto Air Conditioning products for all major Automakers in Passenger and Commercial Vehicle Space. It has a technical collaboration with Denso Corporation [1]
- Market Cap ₹ 4,482 Cr.
- Current Price ₹ 687
- High / Low ₹ 827 / 346
- Stock P/E 37.6
- Book Value ₹ 147
- Dividend Yield 0.26 %
- ROCE 16.3 %
- ROE 10.6 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Stock is trading at 4.69 times its book value
- Company has a low return on equity of 6.91% over last 3 years.
* 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
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,262 | 1,162 | 1,187 | 1,295 | 1,535 | 1,913 | 2,124 | 1,993 | 1,796 | 2,239 | 2,806 | 3,071 | 3,187 | |
1,140 | 1,030 | 1,050 | 1,142 | 1,367 | 1,703 | 1,896 | 1,804 | 1,642 | 2,089 | 2,638 | 2,815 | 2,903 | |
Operating Profit | 122 | 131 | 137 | 152 | 168 | 210 | 229 | 189 | 154 | 149 | 168 | 255 | 284 |
OPM % | 10% | 11% | 12% | 12% | 11% | 11% | 11% | 9% | 9% | 7% | 6% | 8% | 9% |
11 | 2 | 1 | 2 | -24 | 5 | 6 | 61 | 10 | 9 | 20 | 14 | 16 | |
Interest | 36 | 37 | 39 | 42 | 48 | 41 | 42 | 36 | 16 | 11 | 7 | 12 | 13 |
Depreciation | 73 | 77 | 79 | 86 | 88 | 92 | 79 | 90 | 92 | 102 | 110 | 117 | 120 |
Profit before tax | 25 | 19 | 20 | 26 | 8 | 82 | 114 | 124 | 56 | 45 | 71 | 141 | 168 |
Tax % | 16% | -5% | 0% | 9% | -63% | 26% | 33% | 32% | 16% | 28% | 32% | 31% | |
21 | 20 | 20 | 24 | 13 | 61 | 76 | 85 | 47 | 33 | 48 | 98 | 119 | |
EPS in Rs | 3.43 | 3.38 | 3.39 | 4.00 | 2.22 | 10.11 | 11.67 | 12.96 | 7.16 | 4.99 | 7.37 | 14.97 | 18.26 |
Dividend Payout % | 20% | 21% | 21% | 20% | 22% | 11% | 11% | 6% | 10% | 14% | 14% | 12% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 8% |
3 Years: | 20% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | 17% |
5 Years: | 4% |
3 Years: | 27% |
TTM: | 138% |
Stock Price CAGR | |
---|---|
10 Years: | 26% |
5 Years: | 24% |
3 Years: | 25% |
1 Year: | 81% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 7% |
3 Years: | 7% |
Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 13 | 13 |
Reserves | 275 | 290 | 305 | 323 | 336 | 393 | 667 | 739 | 782 | 810 | 854 | 943 |
349 | 414 | 420 | 390 | 404 | 385 | 244 | 155 | 52 | 33 | 19 | 5 | |
244 | 213 | 236 | 275 | 373 | 508 | 456 | 482 | 602 | 648 | 657 | 690 | |
Total Liabilities | 880 | 928 | 973 | 1,001 | 1,126 | 1,298 | 1,381 | 1,389 | 1,449 | 1,504 | 1,543 | 1,651 |
445 | 483 | 536 | 563 | 497 | 670 | 690 | 765 | 745 | 726 | 723 | 745 | |
CWIP | 107 | 103 | 88 | 54 | 149 | 90 | 86 | 66 | 54 | 61 | 86 | 80 |
Investments | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 5 | 5 | 25 | 5 |
326 | 340 | 345 | 381 | 477 | 536 | 602 | 555 | 646 | 712 | 709 | 821 | |
Total Assets | 880 | 928 | 973 | 1,001 | 1,126 | 1,298 | 1,381 | 1,389 | 1,449 | 1,504 | 1,543 | 1,651 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
177 | 95 | 143 | 149 | 111 | 316 | 100 | 239 | 154 | 151 | 141 | 165 | |
-135 | -109 | -96 | -68 | -75 | -231 | -126 | -93 | -58 | -100 | -145 | -91 | |
-42 | 14 | -48 | -82 | -35 | -72 | 17 | -148 | -68 | -53 | 4 | -65 | |
Net Cash Flow | -0 | 1 | -1 | -0 | 1 | 13 | -8 | -2 | 28 | -1 | -1 | 8 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 19 | 24 | 28 | 31 | 31 | 29 | 35 | 42 | 37 | 27 | 34 |
Inventory Days | 76 | 80 | 78 | 73 | 70 | 66 | 61 | 61 | 80 | 70 | 57 | 60 |
Days Payable | 56 | 50 | 49 | 53 | 82 | 112 | 96 | 100 | 130 | 107 | 83 | 81 |
Cash Conversion Cycle | 33 | 50 | 52 | 47 | 19 | -16 | -6 | -4 | -9 | -1 | 2 | 13 |
Working Capital Days | 1 | 5 | 0 | -3 | -7 | -21 | -7 | -7 | -12 | -7 | -4 | 7 |
ROCE % | 10% | 8% | 8% | 9% | 12% | 16% | 19% | 13% | 8% | 7% | 9% | 16% |
Documents
Announcements
- Closure of Trading Window 28 Sep
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 20 Sep
- Shareholder Meeting / Postal Ballot-Outcome of AGM 18 Sep
- Announcement under Regulation 30 (LODR)-Newspaper Publication 27 Aug
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Business Responsibility and Sustainability Reporting (BRSR)
26 Aug - Submission of Business Responsibility and Sustainability Report for FY 2023-24.
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
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Financial Year 2022
from bse
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
from bse
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from nse
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Financial Year 2011
from bse
Concalls
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Aug 2024Transcript PPT REC
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Aug 2024TranscriptPPTREC
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Aug 2024TranscriptNotesPPT REC
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May 2024TranscriptNotesPPT
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Jan 2024Transcript PPT
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Jan 2024TranscriptNotesPPT
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Dec 2023Transcript PPT
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Nov 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT REC
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Jan 2023TranscriptPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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May 2017TranscriptNotesPPT
Company Profile[1]
Established in 1985, Subros is the Largest Air Conditioning & Thermal Products company in India. Its a JV between Subros (36.79%) + Denso (20%) + Suzuki (11.96%).