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    Consumer Cyclical

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    Auto - Parts
Subros Limited

Subros Limited

SUBROS.BO
Subros LimitedIN flagBombay Stock Exchange
842.35
INR
-6.15
- -
54.89BMarket Cap
Subros Limited
SUBROS.BO
(Bombay Stock Exchange)

Recent

price

842.35

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
182.11
186.79
212.8
196.07
200.37
218.49
255.73
318.65
344.29
305.23
274.9
342.59
429.18
470.69
516.11
575.63
575.65
Revenue per Share
4.77
7.96
3.38
3.47
3.34
3.99
2.2
10.09
12.37
13
7.26
4.98
7.35
14.96
23.07
25.39
25.39
Basic EPS, GAAP
-14.52
-16.81
6.78
-2.34
7.74
13.61
-7.26
14
-4.39
21.56
13.95
6.88
1.27
7.02
8.72
-6.78
- -
Free Cash Flow per Basic Share
0.82
0.93
1.28
0.81
0.82
0.84
0.96
0.5
1.07
1.3
0.8
0.7
0.7
1
1.8
2.6
- -
Dividend per Share
2
27.04
29.27
31.57
33.73
37.27
38.18
45.32
55.18
64.16
70.93
75.09
81.53
94.89
115.82
2
2
Book Value per Share
28.2
29.26
29.74
29.91
26.17
29.43
26.51
36.79
81
87.97
95.88
100.1
107.78
121.67
143.27
166.76
166.77
Tangible Book Value per Share
60
60
60
60
60
60
60
60
62
65
65
65
65
65
65
65
65
Basic Weighted Avg Shares
10,925
11,205
12,766
11,762
12,020
13,107
15,341
19,115
21,222
19,912
17,933
22,349
27,998
30,706
33,676
37,555
37,555
Sales/Revenue/Turnover
4.36
3.96
3.88
4.74
4.82
5.05
5.2
6.17
7.07
5.17
3.46
2.26
2.06
4.6
5.77
5.31
5.98
Operating Margin (%)
406
532
728
775
789
865
879
920
788
903
921
1,024
1,103
1,165
1,282
1,249
1,249
Depreciation Expense
286
477
203
208
200
239
132
606
762
848
474
325
479
976
1,505
1,656
1,656
Net Income, GAAP
11.04
17.64
16.65
- -
0.39
9.25
- -
26.44
33.17
31.56
15.99
28.27
32.36
30.6
26.06
24.76
24.76
Effective Tax Rate (%)
2.62
4.26
1.59
1.77
1.67
1.83
0.86
3.17
3.59
4.26
2.64
1.45
1.71
3.18
4.47
4.41
4.41
Profit Margin (%)
-719
-849
-882
-656
-1,107
-1,174
-1,935
-2,525
-780
-360
389
626
647
1,808
3,156
4,678
4,678
Working Capital
767
1,361
1,896
2,414
2,143
1,905
1,568
1,526
574
315
329
198
91
44
1
241
241
LT Debt
2,303
2,705
2,860
3,018
3,169
3,403
3,475
4,044
6,799
7,520
7,951
8,238
8,673
9,559
10,941
12,441
12,441
Total Equity
12.68
8.28
7.16
- -
8.97
8.66
- -
11.23
11.66
7.67
5.76
4.05
4.25
10.1
13.47
12.19
13.73
Return on Invested Capital (%)
33.25
24.88
10.74
- -
10.57
10.44
- -
12.63
15.78
18.23
10.15
6.62
8.68
16.41
21.93
39.1
243.87
Return on Capital (%)
238.72
54.81
12
11.39
10.22
11.24
5.83
24.18
24.91
22.36
10.76
6.82
9.38
16.96
21.9
43.1
1,269.49
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
790
- -
506
LT Borrowings
16
- -
241
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
65
- -
65
Market Capitalization
70,856
56,362
41,408

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
11,478
- -
12,297
Cash, Cash Equivalents & STI
1,747
- -
1,777
Accounts Receivable, Net
4,910
- -
5,756
Inventories
4,568
- -
4,512
Total Current Liabilities
7,349
- -
7,619
Payables & Accruals
- -
- -
- -
ST Debt
790
- -
506
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
15.02%
9.45%
13.71%
Free Cash Flow
-106.6%
33.44%
-177.75%
Net Income, GAAP
49.15%
36.8%
10.04%
Sales/Revenue/Turnover
11.73%
16.15%
11.52%
Total Cash Common Dividend
- -
- -
44.46%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6,932
8,134
7,325
8,218
30,706
2025
8,098
8,283
8,210
9,085
33,676
2026
8,782
8,798
9,477
10,498
37,555

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.08
4.1
4.12
- -
14.96
2025
5.36
5.58
5.05
7.08
23.07
2026
6.26
6.24
5.33
7.56
25.39

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1
2025
- -
- -
- -
- -
1.8
2026
- -
- -
- -
- -
2.6
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Business
Subros Limited manufactures and supplies thermal products for automotive air conditioning systems primarily to original equipment manufacturers in the passenger car, commercial vehicle, and railway sectors. The company offers integrated thermal solutions including evaporators, condensers, heater assemblies, receiver drier assemblies, service valves, expansion devices, and compressor control devices; it also provides aftermarket spare parts and value-added services such as tool and die design, testing, and assembly. Headquartered in Noida, India, and founded in 1985 as a joint venture with the Suri family and Suzuki Motor Corporation of Japan, Subros operates manufacturing facilities across India with a geographic focus on domestic markets and exports to select international regions. In recent developments, the company expanded production capacity through greenfield projects and technology upgrades at its Sanand and Noida plants in 2024, enhancing output for electric vehicle thermal management systems; it secured strategic supply contracts with major OEMs like Maruti Suzuki and Tata Motors amid rising vehicle electrification demands. Subros continues to invest in R&D for next-generation HVAC components targeting hybrid and EV segments, positioning it as a key player in India's automotive thermal solutions industry.