Subros Limited
NSE: SUBROS · Other Industrial Products · sector
₹595.40NSE close 2026-10-26
Key numbers
Market cap₹3,885 cr
Price₹595.40
52w high / low₹1,161 / ₹595
P/E23.4xSector median 23.1x
P/B3.1xSector median 3.1x
Book value₹190.7
Dividend yield0.43%Sector median 0.43%
ROE14.2%Sector median 9.8%
ROCE18.1%Sector median 13.0%
OPM8.1%Sector median 10.1%
Debt / equity0.02xSector median 0.23x
EV/EBITDA12.0xSector median 14.2x
Interest cover23.5x
Current ratio1.61x
Sales growth 3y+10.2%Sector median +13.6%
Profit growth 3y+51.2%Sector median +11.4%
PEG0.46x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 29 companies in Other Industrial Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹140 cr vs borrowings ₹30 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 23.5x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY26).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 23% of net profit in the last 12 months.
- Debtor days went from 34 (FY24) to 56 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹595.40 on 2026-10-26: -48.7% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,123.25 · low ₹543.55
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 828 | 821 | 908 | 878 | 880 | 948 | 1,050 | 1,032 |
| EBITDA | 76 | 76 | 93 | 82 | 68 | 73 | 92 | 81 |
| OPM % | 9.2% | 9.2% | 10.2% | 9.3% | 7.8% | 7.7% | 8.8% | 7.8% |
| Other income | 6 | 5 | 6 | 6 | 20 | 6 | 8 | 6 |
| Net profit | 36 | 33 | 46 | 41 | 41 | 35 | 49 | 42 |
| EPS (₹) | 5.58 | 5.05 | 7.08 | 6.26 | 6.24 | 5.33 | 7.56 | 6.36 |
| Revenue YoY | +6.2% | +15.4% | +15.6% | +17.5% | ||||
| Profit YoY | +11.9% | +5.6% | +6.8% | +1.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,239 | 2,806 | 3,071 | 3,368 | 3,756 | 3,909 |
| EBITDA | 149 | 168 | 254 | 322 | 316 | 315 |
| Net profit | 32 | 48 | 98 | 151 | 166 | 166 |
| EPS (₹) | 4.98 | 7.35 | 14.96 | 23.07 | 25.39 | 25.49 |
| Revenue growth | +25.4% | +9.4% | +9.7% | +11.5% | +13.8% | |
| Profit growth | +47.4% | +103.7% | +54.2% | +10.0% | +6.4% | |
| Dividend / share (₹) | 0.70 | 0.70 | 1.00 | 1.80 | 2.60 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.2% | +15.9% | +13.8% |
| Net profit | +51.2% | +28.4% | +6.4% |
| EPS | +51.2% | +28.5% | – |
| Share price | – | -2.1% (2y) | -41.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 867 | 956 | 1,094 | 1,244 |
| Borrowings | – | 13 | 0 | 0 | 30 |
| Cash & equivalents | – | 108 | 122 | 162 | 140 |
| Total assets | – | 1,543 | 1,651 | 1,859 | 2,134 |
| Fixed assets | – | 552 | 587 | 556 | 568 |
| Capital work in progress | – | 56 | 41 | 50 | 53 |
| Investments | – | 3 | 3 | 29 | 39 |
| Receivables | – | 208 | 283 | 451 | 576 |
| Inventory | – | 339 | 375 | 374 | 451 |
| Payables | – | 489 | 504 | 560 | 618 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 151 | 141 | 165 | 175 | 105 |
| Cash from investing | -100 | -145 | -91 | -165 | -137 |
| Cash from financing | -53 | 4 | -65 | -13 | 7 |
| Capex | 106 | 132 | 120 | 118 | 150 |
| Free cash flow | 45 | 8 | 45 | 57 | -44 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 5.5% | 10.2% | 13.8% | 13.3% |
| ROCE % | – | 8.8% | 15.9% | 19.6% | 18.0% |
| Debtor days | – | 27 | 34 | 49 | 56 |
| Inventory days | – | 57 | 60 | 56 | 60 |
| Payable days | – | 83 | 81 | 84 | 82 |
| Cash conversion cycle (days) | – | 1 | 13 | 21 | 34 |
| Working capital days | – | 8 | 21 | 34 | 45 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 36.79% |
| FIIs | 32.70% |
| DIIs | 10.60% |
| of which Mutual funds | 10.59% |
| Public (non-institutions) | 19.91% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 36.79% | 36.79% | 36.79% | 36.79% | 36.79% | 36.79% | 36.79% | 36.79% |
| Promoter group | % |
|---|---|
| Deeksha Holding Limited | 15.54% |
| Shradha Suri | 8.56% |
| Jyotsna Holding Private Limited | 5.29% |
| R. R. Holdings Private Limited | 4.92% |
| JS Family Trust | 2.48% |
| Jyotsna Suri | 0.00% |
| Public holders above 1% | % |
|---|---|
| Denso Corporation | 20.00% |
| Suzuki Motor Corporation | 11.96% |
| Kotak Mahindra Mutual Fund | 5.03% |
| Responsible Holding Private Limited | 2.69% |
| UTI Mutual Fund | 2.11% |
| Canara Robeco Mutual Fund | 1.51% |
| SHS Transport Private Limited | 1.50% |
| Nippon India Mutual Fund | 1.48% |
| Cold Form Engineering Private Limited | 1.15% |
55,433 shareholders. Pledged: 0.00% of promoter shares.
Peers in Other Industrial Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| HBLENGINE | ₹21,089 cr | 22.8x | 9.5x | 50.0% | 55.1% | 31.2% | +34.1% | – |
| INOXINDIA | ₹17,251 cr | 67.7x | 15.4x | 25.8% | 29.2% | 21.0% | – | 0.10% |
| ESABINDIA | ₹8,178 cr | 36.9x | 19.1x | 56.1% | 69.1% | 19.5% | +11.4% | 1.73% |
| KRN | ₹7,000 cr | 69.0x | 12.2x | 18.1% | 17.1% | 19.6% | – | – |
| SUBROS | ₹3,885 cr | 23.4x | 3.1x | 14.2% | 18.1% | 8.1% | +10.2% | 0.43% |
| HARSHA | ₹3,716 cr | 24.0x | 2.6x | 11.7% | 13.2% | 14.6% | +6.0% | 0.25% |
| ADOR | ₹2,272 cr | 19.7x | 4.0x | 21.7% | 27.2% | 12.1% | +13.6% | 1.53% |
| DIFFNKG | ₹1,495 cr | 27.2x | 3.7x | 14.1% | 15.3% | 13.8% | – | 0.38% |
| MICEL | ₹865 cr | – | 4.0x | -5.5% | 8.8% | 11.4% | +102.6% | – |
| HTEL | ₹645 cr | – | – | – | – | – | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-11 | Dividend | Dividend - Rs 3 Per Share |
| 2025-09-11 | Dividend | Dividend - Rs 2.60 Per Share |
| 2024-09-11 | Dividend | Annual General Meeting/Dividend - Re 1.8 Per Share |
| 2023-08-22 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2022-07-28 | Dividend | Annual General Meeting/Dividend - Rs 0.70 Per Share |
| 2021-09-06 | Dividend | Dividend - Rs 0.70 Per Share |
| 2020-09-07 | Dividend | Dividend - Rs 0.80 Per Share |
| 2019-07-31 | Dividend | Dividend Rs - 1.30 Per Share |
| 2018-07-26 | Dividend | Annual General Meeting/Dividend- Rs 1.10 Per Share |
| 2017-09-07 | Dividend | Annual General Meeting/Dividend - Re 0.50 Per Share |
| 2016-07-28 | Dividend | Annual General Meeting/Dividend Re 0.80 Per Share |
| 2015-07-16 | Dividend | Annual General Meeting/Dividend - Re 0.70/- Per Share |
| 2014-07-17 | Dividend | Annual General Meeting / Dividend - Re 0.70/- Per Share |
| 2013-07-18 | Dividend | Annual General Meeting And Dividend Re.0.70 Per Share |
| 2012-07-19 | Dividend | Annual General Meeting And Dividend - Rs.1.10 Per Share |
| 2011-09-08 | Dividend | Annual General Meeting And Dividend Re.0.80 Per Share |
| 2010-09-08 | Dividend | Annual General Meeting And Dividend Re.0.70 Per Share |
| 2009-09-10 | Other | Agm/Div-Re.0.50 Per Share |
| 2008-09-04 | Dividend | Agm/Dividend - 40% |
| 2007-11-20 | Split | Fv Split Rs.10/- To Rs.2/ |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing of Thermal Products: The Company manufacturers air conditioning systems/parts and components (automotive/residential/commercial) and are majorly sold to original equipment manufacturers
| Sector | Industrials |
| Industry | Other Industrial Products |
| Sub-industry | Other Industrial Products |
| Symbol | SUBROS |
| BSE code | 517168 |
| ISIN | INE287B01021 |
| Face value | ₹2.0 |
| Incorporated | 1985-02-14 |
| Website | www.subros.com |
| Plants (India / abroad) | 9 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.