Subros Ltd

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

Subros Ltd

₹ 328 -0.80%
30 May - close price
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
Subros is the largest Air Conditioning & Thermal Products company in India. It has a market share of 40% and 51% in the Passenger Car AC and Truck Aircon/Blower segment respectively. [1]

Website BSE NSE
  • Market Cap ₹ 2,141 Cr.
  • Current Price ₹ 328
  • High / Low ₹ 410 / 269
  • Stock P/E 44.7
  • Book Value ₹ 133
  • Dividend Yield 0.30 %
  • ROCE 8.91 %
  • ROE 5.67 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 35.2 to 27.1 days.

Cons

  • The company has delivered a poor sales growth of 7.97% over past five years.
  • Company has a low return on equity of 5.30% over last 3 years.
  • Dividend payout has been low at 12.4% of profits 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
458 74 458 604 660 480 529 548 681 709 695 655 748
417 104 405 538 596 454 495 508 634 665 655 621 697
Operating Profit 42 -30 53 66 64 27 35 40 47 43 40 34 51
OPM % 9% -40% 12% 11% 10% 6% 7% 7% 7% 6% 6% 5% 7%
9 1 4 3 3 5 2 0 2 2 4 8 6
Interest 5 5 6 3 3 3 4 2 2 1 2 2 2
Depreciation 23 19 24 25 24 24 26 26 27 27 28 28 28
Profit before tax 23 -53 28 42 40 5 8 12 21 18 15 12 26
Tax % 27% 55% 37% 34% 34% 36% 34% 35% 20% 34% 33% 33% 31%
Net Profit 17 -24 18 27 26 3 5 8 17 12 10 8 18
EPS in Rs 2.55 -3.68 2.72 4.20 4.02 0.51 0.76 1.16 2.55 1.79 1.49 1.27 2.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,113 1,267 1,167 1,192 1,298 1,535 1,913 2,124 1,993 1,796 2,239 2,806
1,016 1,145 1,035 1,055 1,146 1,367 1,703 1,896 1,804 1,642 2,089 2,639
Operating Profit 96 122 132 137 152 168 210 229 189 154 149 168
OPM % 9% 10% 11% 11% 12% 11% 11% 11% 9% 9% 7% 6%
41 11 2 1 2 -24 6 6 62 11 9 20
Interest 26 36 37 39 42 48 41 42 36 16 11 7
Depreciation 53 73 77 79 87 88 92 79 90 92 102 110
Profit before tax 58 24 20 20 26 8 82 114 124 56 45 71
Tax % 18% 17% -5% 0% 9% -63% 26% 33% 32% 16% 28% 32%
Net Profit 48 20 21 20 24 13 61 76 85 47 32 48
EPS in Rs 7.96 3.38 3.47 3.34 3.99 2.20 10.10 11.69 13.00 7.26 4.98 7.35
Dividend Payout % 14% 21% 20% 21% 20% 23% 11% 11% 6% 10% 14% 14%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 12%
TTM: 25%
Compounded Profit Growth
10 Years: 9%
5 Years: -5%
3 Years: -5%
TTM: 45%
Stock Price CAGR
10 Years: 30%
5 Years: 0%
3 Years: 23%
1 Year: 8%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 5%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
12 12 12 12 12 12 12 13 13 13 13 13
Reserves 259 274 290 305 323 335 392 667 739 782 811 854
342 350 414 420 390 404 385 244 155 52 33 19
231 245 214 236 276 373 508 456 482 602 648 657
Total Liabilities 844 881 929 973 1,001 1,125 1,297 1,380 1,388 1,449 1,505 1,543
387 446 484 537 563 497 670 690 765 745 726 753
CWIP 90 107 103 88 54 149 90 86 66 54 61 56
Investments 0 0 0 0 0 1 2 2 1 5 5 25
367 328 342 348 384 477 536 603 555 646 712 709
Total Assets 844 881 929 973 1,001 1,125 1,297 1,380 1,388 1,449 1,505 1,543

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
86 177 96 141 151 111 315 100 239 154 151 141
-177 -135 -109 -94 -69 -75 -231 -126 -93 -58 -100 -145
89 -42 14 -48 -82 -35 -72 17 -148 -68 -53 4
Net Cash Flow -2 -0 1 -1 -0 1 13 -8 -3 28 -1 -1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 25 13 19 24 28 31 31 29 35 42 37 27
Inventory Days 81 77 80 78 73 70 66 61 61 80 70 57
Days Payable 66 57 50 49 54 82 112 96 100 130 107 83
Cash Conversion Cycle 40 33 50 52 47 19 -16 -6 -4 -9 -1 2
Working Capital Days 23 1 5 0 -2 -7 -21 -7 -7 -12 -7 -2
ROCE % 10% 10% 8% 8% 9% 12% 16% 19% 13% 8% 7% 9%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
36.79 36.79 36.79 36.79 36.79 36.79 36.79 36.79 36.79 36.79 36.79 36.79
0.58 1.21 1.18 1.05 0.60 0.57 0.60 0.70 0.72 0.73 0.62 32.62
8.27 9.52 10.47 10.65 10.88 11.69 12.24 12.40 12.76 13.00 13.15 13.30
54.36 52.48 51.56 51.51 51.73 50.95 50.38 50.11 49.73 49.48 49.43 17.28

* 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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Documents

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