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Latest filing: 2026-08-07 20:05
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Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
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11 announcements match the current filters (relevance ≥ 5).
Subros Q1 Revenue Grows 17.5% YoY to ₹1,032 Cr; EBITDA Margins Contract to 8.5%
Subros reported a robust 17.52% YoY revenue growth to ₹1,032.11 Cr for Q1 FY27, driven by strong market demand and volume realization. However, profitability was pressured as EBITDA margins contracted to 8.47% from 10.02% in the previous year, primarily due to adverse commodity prices and currency movements. PAT remained nearly flat at ₹41.38 Cr, up only 1.76% YoY. The company is continuing its ₹150 Cr greenfield expansion at Kharkhoda and targeting a 2027-28 start for electric compressor production at Karsanpura.
Confidence: HIGH
What changedSubros has transitioned into the new fiscal year with strong volume growth but is facing margin headwinds from input costs and wage hikes.
Why it mattersWith 85% of revenue tied to Maruti Suzuki, Subros's performance is a direct proxy for MSIL's volumes; the shift toward EV thermal systems is critical for long-term diversification.
Q1 Revenue: ₹1032.11 CrYoY Revenue Growth: 17.52%EBITDA Margin: 8.47%Material Cost % of Sales: 73.79%Kharkhoda Capex vs Net Worth: ~12%
📅 Short termThe stock may face pressure due to the sequential and year-on-year contraction in operating margins despite the healthy top-line growth.
📈 Long termStructural growth depends on successful localization of electric compressors and increasing the revenue share from non-PV segments like Railways and Home AC.
⚠ Risk flags
- High client concentration (85% revenue from MSIL)
- Vulnerability to Aluminum and Copper price spikes
- Currency fluctuation risks affecting imported components
Key Highlights
Revenue increased 17.52% YoY to ₹1,032.11 Cr, representing approximately 27% of TTM revenue.
EBITDA margins declined to 8.47% from 10.02% YoY, impacted by material costs rising to 73.79% of sales.
Maintained a leading 41% market share in both Passenger Car AC and Truck Aircon/Blower segments.
Employee costs rose to 10.05% of sales in Q1 FY27 from 8.98% in Q4 FY26 due to annual salary revisions.
Targeting Start of Production (SOP) for Electric Compressors at the Karsanpura plant in FY 2027-28.
👀 What to Watch
Investors should monitor the company's ability to pass on rising raw material costs to its primary customer, Maruti Suzuki, and track the execution timeline of the Kharkhoda greenfield facility.
Subros Q1 Revenue Up 17.5% to ₹1,032 Cr; Signs EV Compressor Tech Deal with Denso & Toyota
Subros reported a strong 17.5% YoY revenue growth to ₹1,032.11 Cr for Q1 FY27, although net profit remained nearly flat at ₹41.38 Cr due to increased material costs. A major strategic milestone was achieved through a Technical Assistance Agreement with DENSO and Toyota Industries for the localization of electric compressors for EVs and Hybrids at its Gujarat facility. This move is intended to capture the growing electric mobility market and reduce import reliance. The company also saw a change in its nominee director from DENSO Corporation, Japan.
Confidence: HIGH
What changedSubros has formalized its technical partnership for EV components and reported its first-quarter results for the new fiscal year.
Why it mattersLocalization of electric compressors is a critical structural shift for Subros to maintain its 85% revenue share with Maruti Suzuki as the latter transitions toward hybrid and electric vehicles.
Revenue (Q1 FY27): ₹1,032.11 CrNet Profit (Q1 FY27): ₹41.38 CrYoY Revenue Growth: 17.5%Material Cost as % of Revenue: 75.6%Quarterly EPS: ₹6.34
📅 Short termThe stock may see positive sentiment due to robust top-line growth and the formalization of the EV technology tie-up.
📈 Long termThe localization of high-value EV components like electric compressors is essential for long-term margin protection and relevance in the EV ecosystem.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration (85% revenue from MSIL)
- Susceptibility to raw material price spikes
- Royalty outflows associated with the new Technical Assistance Agreement
Key Highlights
Revenue from operations increased 17.5% YoY to ₹1,032.11 Cr from ₹878.25 Cr.
Net profit for the quarter stood at ₹41.38 Cr, a marginal 1.8% increase over the previous year's ₹40.66 Cr.
Executed a Technical Assistance Agreement with DENSO and Toyota Industries for EV compressor localization.
Cost of materials consumed rose significantly to ₹779.93 Cr, representing 75.6% of revenue.
Total expenses for the quarter increased to ₹981.71 Cr from ₹829.50 Cr in the year-ago period.
👀 What to Watch
Watch for the commercial production timeline at the Karsanpura, Gujarat facility and the subsequent impact of localization on operating margins.
Subros Q1 Revenue Grows 17.5% YoY to ₹1,032 Cr; Signs EV Compressor Tech Agreement
Subros Limited reported a 17.5% YoY increase in revenue to ₹1,032.11 Cr for Q1 FY27, although Net Profit grew only marginally by 1.8% to ₹41.38 Cr due to higher material costs. A significant strategic development is the execution of a Technical Assistance Agreement with DENSO and Toyota Industries for the localization of electric compressors for EVs and Hybrids at its Gujarat facility. This move aims to reduce import dependence and capture the growing electric mobility market. Additionally, the board approved the appointment of Mr. Akihiro Deguchi as a Nominee Director from DENSO Corporation, Japan.
Confidence: HIGH
What changedSubros reported its Q1 FY27 financial results and formalized a technology partnership for localizing EV thermal components.
Why it mattersLocalization of electric compressors is a critical step for Subros to maintain its market leadership in the EV transition and potentially improve margins by reducing imports from Japan.
Q1 Revenue: ₹1,032.11 CrYoY Revenue Growth: 17.5%Q1 PAT: ₹41.38 CrQ1 Revenue vs TTM Revenue: 27.5%Material Cost % of Revenue: 75.6%
📅 Short termThe strong top-line growth and the EV-related technology agreement are likely to be viewed positively by the market in the coming weeks.
📈 Long termThe localization of EV compressors is structurally significant, positioning the company to serve the evolving needs of its primary client, Maruti Suzuki, as it enters the EV space.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration with Maruti Suzuki (85% of revenue)
- Susceptibility to raw material (aluminum/copper) price fluctuations
- Royalty payments to technology partners
Key Highlights
Revenue from operations increased 17.5% YoY to ₹1,032.11 Cr from ₹878.25 Cr in Q1 FY26.
Net Profit for the quarter stood at ₹41.38 Cr, a slight increase from ₹40.66 Cr in the previous year's corresponding quarter.
Cost of materials consumed rose to ₹779.93 Cr, representing 75.6% of total revenue.
Signed a Technical Assistance Agreement with DENSO and Toyota Industries for EV compressor localization at the Karsanpura, Gujarat plant.
Mr. Akihiro Deguchi appointed as Nominee Director, bringing extensive experience in heat exchangers and production engineering from DENSO Japan.
👀 What to Watch
Investors should monitor the timeline for commercial production of localized electric compressors and the impact of 'Running Royalties' on operating margins as EV volumes scale.
Subros FY26 PAT Rises 10% to ₹165.8 Cr; Recommends ₹3 Dividend
Subros Limited reported a steady financial performance for FY26, with annual revenue growing 11.5% to ₹3,755.5 crore. Net profit for the full year increased by 10.2% to ₹165.8 crore, despite an exceptional item of ₹8.08 crore related to labor codes. The Board has recommended a dividend of ₹3 per share (150%), with a record date of September 11, 2026. Quarterly performance also showed growth, with Q4 revenue crossing ₹1,000 crore for the first time in the fiscal year.
Key Highlights
Annual Revenue from operations grew 11.5% YoY to ₹3,75,552 lakhs in FY26.
Net Profit for the full year increased to ₹16,578 lakhs from ₹15,040 lakhs in FY25.
Recommended a dividend of ₹3 per equity share (150% on face value of ₹2).
Q4 FY26 Revenue stood at ₹1,04,976 lakhs, reflecting a 15.5% YoY growth compared to Q4 FY25.
Exceptional item of ₹808 lakhs recorded during the year due to the impact of new Labour Codes.
👀 What to Watch
Investors may find the steady revenue growth and consistent dividend payout attractive; however, monitor the rising cost of materials which grew at a slightly higher rate than revenue.
Subros Ltd Recommends 150% Dividend and Sets Record Date for September 11, 2026
The Board of Directors of Subros Limited has recommended a dividend of Rs. 3 per equity share (150% of the face value of Rs. 2 each) for the financial year ended March 31, 2026. The company has fixed September 11, 2026, as the Record Date to determine eligible shareholders for the dividend payment. Alongside this, the company reported its full-year FY26 standalone profit after tax at Rs. 16,578 lakhs, up from Rs. 15,040 lakhs in the previous year. Total revenue from operations for FY26 also increased to Rs. 3,75,552 lakhs compared to Rs. 3,36,757 lakhs in FY25.
Key Highlights
Recommended a dividend of Rs. 3 per equity share of Rs. 2 each (150% payout).
Record date for the dividend distribution is fixed as September 11, 2026.
Full-year FY26 net profit increased by 10.23% to Rs. 16,578 lakhs from Rs. 15,040 lakhs in FY25.
Annual revenue from operations grew by 11.52% to Rs. 3,75,552 lakhs against Rs. 3,36,757 lakhs in the previous fiscal year.
Quarterly net profit for Q4FY26 stood at Rs. 4,969 lakhs, up from Rs. 4,620 lakhs in Q4FY25.
👀 What to Watch
Investors seeking dividend income should ensure they hold Subros shares before the ex-dividend date, which will precede the September 11, 2026 record date. The steady growth in both revenue and net profit further supports the company's financial health and capacity for regular payouts.
Subros Recommends Rs 3 Dividend; FY26 Net Profit Rises 10% to Rs 165.78 Crore
Subros Limited reported a steady financial performance for FY 2025-26, with annual revenue from operations growing 11.5% to Rs 3,755.52 crore. The company's net profit increased by 10.2% year-on-year to Rs 165.78 crore, even after accounting for an exceptional labor code impact of Rs 8.08 crore. Reflecting this growth, the Board has recommended a final dividend of Rs 3 per share (150% of face value). The record date for dividend eligibility is set for September 11, 2026, with the AGM scheduled for September 18, 2026.
Key Highlights
Recommended a final dividend of Rs 3.00 per equity share (150%) for the financial year 2025-26.
Annual Revenue from operations increased to Rs 3,75,552 lakhs compared to Rs 3,36,757 lakhs in FY25.
Net Profit for the full year rose to Rs 16,578 lakhs from Rs 15,040 lakhs in the previous fiscal.
Record date for dividend entitlement is fixed as September 11, 2026.
Profit before tax stood at Rs 22,029 lakhs after an exceptional item charge of Rs 808 lakhs.
👀 What to Watch
Investors should find the consistent growth in both revenue and profitability encouraging, supporting the company's healthy dividend payout. The stock remains a solid pick for those seeking exposure to the auto-ancillary sector with steady yield.
Subros Reports Record Q4 Revenue of ₹1,050 Cr; FY26 Net Profit Grows 10% to ₹166 Cr
Subros Limited achieved its highest-ever quarterly revenue of ₹1,049.76 crore in Q4 FY26, representing a 15.55% YoY growth driven by robust market demand. For the full fiscal year 2025-26, the company reported a total revenue of ₹3,755.52 crore and a PAT of ₹165.78 crore, up 11.52% and 10.23% respectively. While EBITDA margins were slightly pressured by adverse commodity prices and currency fluctuations, cost-optimization initiatives and a ₹15.48 crore incentive accrual supported the bottom line. The company is actively expanding its EV and hybrid vehicle product portfolio with significant capacity expansions planned at its Karsanpura and Kharkhoda plants.
Key Highlights
Achieved highest-ever quarterly revenue of ₹1,049.76 crore in Q4 FY26, up 15.55% YoY.
Full-year FY26 PAT increased by 10.23% to ₹165.78 crore despite an ₹8.08 crore exceptional charge for labor code changes.
Maintains a dominant 41% market share in both Passenger Car AC and Truck Aircon/Blower segments.
EBITDA for FY26 stood at ₹362.93 crore (9.7% margin), supported by cost-down initiatives and accrued incentives.
Expansion at Karsanpura plant for Electric Compressors and FDC capacity is underway with SOP targeted for 2027-28.
👀 What to Watch
Investors should view the record revenue and steady market share as signs of strong operational health, while monitoring the company's progress in the high-growth EV thermal management segment. The stock remains a key proxy for the Indian passenger and commercial vehicle cooling markets.
Subros FY26 Revenue Grows 11.5% to ₹3,755 Cr; PAT at ₹166 Cr; ₹3 Dividend Declared
Subros Limited reported a steady performance for the financial year ended March 31, 2026, with annual revenue from operations growing 11.5% to ₹3,755.5 crore. The company's annual net profit (PAT) increased by 10.2% to ₹165.8 crore, despite an exceptional charge of ₹8.08 crore related to new labour codes. For the fourth quarter (Q4FY26), revenue stood at ₹1,049.8 crore, a 15.5% increase compared to the same quarter last year. The Board has recommended a final dividend of ₹3 per equity share (150% of face value), subject to shareholder approval.
Key Highlights
Annual Revenue from operations grew by 11.5% YoY to ₹3,75,552 lakhs (₹3,755.5 Cr).
Net Profit for FY26 increased by 10.2% to ₹16,578 lakhs (₹165.8 Cr) from ₹15,040 lakhs in the previous year.
Board recommended a final dividend of ₹3 per share (150%) with a record date of September 11, 2026.
Q4FY26 revenue showed strong momentum, rising 15.5% YoY to ₹1,04,976 lakhs.
Finance costs for the full year decreased by 16% to ₹963 lakhs from ₹1,148 lakhs, indicating improved debt management.
👀 What to Watch
Investors should view the consistent double-digit revenue growth and healthy dividend payout as signs of financial stability. The reduction in finance costs and strong Q4 momentum suggest a positive operational outlook for the company.
Subros Gets [ICRA]AA (Stable) Rating for New Term Loan; Total Facilities Raised to Rs 305 Cr
ICRA has assigned a new [ICRA]AA (Stable) rating to Subros Limited's Rs 40 crore term loan while reaffirming its top-tier [ICRA]A1+ rating for short-term facilities. The total bank facilities rated have been enhanced from Rs 265 crore to Rs 305 crore. This rating action underscores the company's robust credit profile and its ability to service debt comfortably. The stable outlook suggests ICRA expects the company to maintain its financial performance in the medium term.
Key Highlights
New [ICRA]AA (Stable) rating assigned to Rs 40 crore long-term fund-based term loan.
Reaffirmation of [ICRA]A1+ for Rs 50 crore short-term non-fund based facilities.
Total rated bank facilities increased by Rs 40 crore to a total of Rs 305 crore.
Stable outlook maintained across all long-term rating categories, indicating financial consistency.
👀 What to Watch
The high credit rating confirms Subros's financial strength and low default risk. Investors should view this as a positive indicator of the company's fundamental health.
Subros Bags Rs 1280 Cr Order from Maruti Suzuki for EV & Hybrid Electric Compressors
Subros Limited has secured a significant business award worth approximately Rs 1,280 crores from Maruti Suzuki India Limited (MSIL) for the supply of electric compressors. The contract is for MSIL's upcoming electric and hybrid vehicle programs, with the order value spread over a seven-year life cycle. Subros will execute the localization of these compressors with technical assistance from DENSO Corporation and Toyota Industries Corporation. This strategic win strengthens Subros's position in the evolving electric mobility thermal management market.
Key Highlights
Total order value of approximately Rs 1,280 crores spread over a seven-year life cycle
Contract awarded by Maruti Suzuki India Limited for upcoming EV and Hybrid vehicle models
Localization of Electric Compressors to be done with technical assistance from DENSO and Toyota Industries
Strengthens long-standing relationship with MSIL and marks a strategic milestone in EV thermal systems
👀 What to Watch
This is a positive development providing long-term revenue visibility and establishing Subros as a key player in the EV component ecosystem. Investors should monitor the production commencement and the impact of localization on the company's operating margins.
Subros Secures ₹52.18 Crore Order from Indian Railways
Subros Limited has secured a new order from Indian Railways for Comprehensive Annual Maintenance Contract of Cab HVAC Units amounting to ₹52.18 Crores. The order is to be completed in three years. This new order increases the company's cumulative order booking in the Railways segment to ₹86.35 Crores for the current financial year, encompassing both supplies and maintenance. This expansion into service contracts, in addition to supplying air-conditioning systems, signals a positive diversification for the company.
Key Highlights
Secured new order worth ₹52.18 Crores from Indian Railways
Order is for Comprehensive Annual Maintenance Contract of Cab HVAC Units
Order to be completed within 3 years
Cumulative order booking in Railways segment reaches ₹86.35 Crores this financial year
👀 What to Watch
Investors should monitor Subros' ability to execute this new service contract efficiently. Continued success in securing and fulfilling railway contracts could positively impact future revenue streams.
