Subros Ltd

Subros Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Subros Ltd

₹ 802 3.59%
10 Jun 4:00 p.m.
subros.com BSE: 517168 NSE: SUBROS
About

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]

Key Points

Market Leadership
The company is India's largest Air Conditioning & Thermal Products manufacturer, holding a 42% market share in passenger car ACs and 54% in the truck aircon/blower segment. [1]

Website BSE NSE
  • Market Cap ₹ 5,232 Cr.
  • Current Price ₹ 802
  • High / Low ₹ 827 / 502
  • Stock P/E 34.8
  • Book Value ₹ 168
  • Dividend Yield 0.22 %
  • ROCE 20.9 %
  • ROE 14.7 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 21.9% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 11.1% over past five years.
  • Company has a low return on equity of 10.6% over last 3 years.
  • Debtor days have increased from 36.6 to 48.9 days.

* 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

Industrials Capital Goods Industrial Products Other Industrial Products

Part of BSE SmallCap BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
681 709 695 655 748 693 813 732 832 810 828 821 908
634 665 655 621 697 646 743 673 755 733 752 745 816
Operating Profit 47 43 40 34 51 47 70 60 77 77 76 76 93
OPM % 7% 6% 6% 5% 7% 7% 9% 8% 9% 10% 9% 9% 10%
2 2 4 8 6 2 3 7 4 3 6 5 6
Interest 2 1 2 2 2 2 3 4 4 3 2 3 3
Depreciation 27 27 28 28 28 27 29 28 32 31 32 32 34
Profit before tax 21 18 15 12 26 20 42 34 45 47 49 46 62
Tax % 20% 34% 33% 33% 31% 32% 36% 21% 32% 26% 25% 28% 25%
17 12 10 8 18 14 27 27 30 35 36 33 46
EPS in Rs 2.55 1.79 1.49 1.27 2.80 2.08 4.10 4.12 4.66 5.36 5.58 5.05 7.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1,167 1,192 1,298 1,535 1,913 2,124 1,993 1,796 2,239 2,806 3,071 3,368
1,035 1,055 1,146 1,367 1,703 1,896 1,804 1,642 2,089 2,638 2,815 3,045
Operating Profit 132 137 152 168 210 229 189 154 149 168 255 322
OPM % 11% 11% 12% 11% 11% 11% 9% 9% 7% 6% 8% 10%
2 1 2 -24 6 6 62 11 9 20 14 21
Interest 37 39 42 48 41 42 36 16 11 7 12 11
Depreciation 77 79 87 88 92 79 90 92 102 110 117 128
Profit before tax 20 20 26 8 82 114 124 56 45 71 141 204
Tax % -5% 0% 9% -63% 26% 33% 32% 16% 28% 32% 31% 26%
21 20 24 13 61 76 85 47 32 48 98 151
EPS in Rs 3.47 3.34 3.99 2.20 10.10 11.69 13.00 7.26 4.98 7.35 14.96 23.07
Dividend Payout % 20% 21% 20% 23% 11% 11% 6% 10% 14% 14% 12% 11%
Compounded Sales Growth
10 Years: 11%
5 Years: 11%
3 Years: 15%
TTM: 10%
Compounded Profit Growth
10 Years: 22%
5 Years: 22%
3 Years: 66%
TTM: 56%
Stock Price CAGR
10 Years: 31%
5 Years: 35%
3 Years: 39%
1 Year: 24%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 11%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 12 12 12 12 12 13 13 13 13 13 13 13
Reserves 290 305 323 335 392 667 739 782 811 854 943 1,081
414 420 390 404 385 244 155 52 33 19 5 1
214 236 276 373 508 456 482 602 648 657 690 764
Total Liabilities 929 973 1,001 1,125 1,297 1,380 1,388 1,449 1,505 1,543 1,651 1,859
484 537 563 497 670 690 765 745 726 723 745 748
CWIP 103 88 54 149 90 86 66 54 61 86 80 50
Investments 0 0 0 1 2 2 1 5 5 25 5 116
342 348 384 477 536 603 555 646 712 709 821 945
Total Assets 929 973 1,001 1,125 1,297 1,380 1,388 1,449 1,505 1,543 1,651 1,859

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
96 141 151 111 315 100 239 154 151 141 165 175
-109 -94 -69 -75 -231 -126 -93 -58 -100 -145 -91 -165
14 -48 -82 -35 -72 17 -148 -68 -53 4 -65 -13
Net Cash Flow 1 -1 -0 1 13 -8 -3 28 -1 -1 8 -3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 19 24 28 31 31 29 35 42 37 27 34 49
Inventory Days 80 78 73 70 66 61 61 80 70 57 60 56
Days Payable 50 49 54 82 112 96 100 130 107 83 81 84
Cash Conversion Cycle 50 52 47 19 -16 -6 -4 -9 -1 2 13 21
Working Capital Days 5 0 -2 -7 -21 -7 -7 -12 -7 -4 7 26
ROCE % 8% 8% 9% 12% 16% 19% 13% 8% 7% 9% 16% 21%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
36.79% 36.79% 36.79% 36.79% 36.79% 36.79% 36.79% 36.79% 36.79% 36.79% 36.79% 36.79%
0.72% 0.73% 0.62% 32.62% 32.59% 32.74% 33.35% 32.83% 33.22% 33.05% 32.81% 32.80%
12.76% 13.00% 13.15% 13.30% 12.46% 10.96% 9.48% 9.96% 10.40% 10.67% 10.72% 11.18%
49.73% 49.48% 49.43% 17.28% 18.15% 19.51% 20.38% 20.42% 19.60% 19.50% 19.68% 19.22%
No. of Shareholders 23,35122,52122,57722,38132,36938,40248,33753,98146,56747,76048,93447,848

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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