Subros Limited has informed the Exchange about Investor Presentation
SL/BSE/NSE/2025-26/
/
August 7, 2025
The Manager, Listing Department, National Stock Exchange of India Ltd., National Stock Exchange of India Ltd., 1 , Block G, ‘Exchange Plaza’ C-1 , Block G, Kurla Complex, Bandra (E), Bandra-Kurla Complex, Bandra (E), Mumbai-400 051. Security ID: SUBROS
Dear Sir/Madam,
Dy. General Manager, Dy. General Manager, Department of Corporate Services, Department of Corporate Services, BSE LIMITED, First Floor, P.J. Towers, Towers, Dalal Street, Fort, Dalal Street, Fort, Mumbai – 400001. 400001. Security ID: 517168 Security ID: 517168
Sub: Investor Presentation on the
Investor Presentation on the unaudited financial results for the quarter ended 3
financial results for the quarter ended 30th June, 2025
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Pursuant to Regulation 30 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015,
we enclose herewith the investor presentation on the unaudited financial results for the we enclose herewith the investor presentation on the
financial results for the quarter ended 30th June,
2025.
Kindly take the same on your record. Kindly take the same on your record.
Thanking you,
Yours faithfully, For SUBROS LIMITED
Kamal Samtani Company Secretary
SUBROS LIMITED LGF, World Trade Centre, Barakhamba Lane, New Delhi 110001 (India). Tel: 23414946-49I LGF, World Trade Centre, Barakhamba Lane, New Delhi 110001 (India). Corporate & Registered Office: LGF, World Trade Centre, Barakhamba Lane, New Delhi 110001 (India). www.subros.com I CIN: L74899DL1985PLC020134 Fax: 01123414945Website: www.subros.com
Financial Results Quarter 1, FY 2025-26 Investor Presentation
SAFE HARBOUR
This presentation might contain forward looking statements which involve a number of This presentation might contain forward looking statements which involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements. The Company undertakes no obligation to update these to reflect the events or circumstances thereof. Secondly, these statements should be understood in conjunction with the risks the company faces.
Company Profile
Established in 1985, Subros is the Largest Air Conditioning & Thermal Products company in India. A Joint Venture company between
OUR PRESENCE
Equity Distribution
Indian Promoters -36.79%, Denso-20%, Suzuki-11.96%, Public-31.25%
Business
Integrated Thermal Products manufacturer for auto and non auto products
Segments for Thermal Segments for Thermal products
Car, Bus, Truck, Tractor, Reefer, Railways and Car, Bus, Truck, Tractor, Reefer, Railways and Home AC.
Plants Technical Centre Tool Engineering Centre
8 Locations (Pan India Presence) 2 Location (Noida) 1 Location (Noida)
Certifications
Market Shares
IATF 16949:2016; ERM ISO 31000:2018 ESH ISO 14001:2015, 45001:2018
42% (Passenger Car AC) 44% (Truck Aircon/Blower)
Revenue from Operation
Rs. 3368 Cr. (2024-25) US$ 401 Mn
Our Board
Ms. Shradha Suri Chairperson & Managing Director
Dr. Jyotsna Suri Director
Mr. Parmod K. Duggal Executive Director & CEO
Mr. Hisahi Takeuchi Representative of Suzuki Motor Corporation, Japan
Mr. Yusuke Hara Representative of DENSO Corporation, Japan
Mr. Tomoaki Yoshimori Representative of DENSO Corporation, Japan
Mr. Yoshuira Iida Alternate Director
Independent Directors Independent Directors
Ms. Smita Piyush Mankad
Mr. Ashok Lavasa (IAS-Retd)
Justice Arjan Kumar Sikri ( Retd)
Ambassador Deepa Gopalan Wadhwa (IFS-Retd.)
Mr. Arvind Kapur
Mrs. Vanaja N. Sarna (IRS-Retd)
Total 12 members3 from Promoter, 3 from Collaborators and 6 Independent
SEC Team
Ms. Shradha Suri Marwah CMD
Mr. Parmod K. Duggal ED & CEO
Mr. Srini Dampur EVP (Technical Centre & STEC)
OEC Team
Mr. Hemant Agarwal CFO & SVP Finance
Mr. A.K. Parashar EVP & COO Operations
Mr. Ajay Agarwal VP SCM
Mr. Roopak Agarwal VP R&D
Mr. S.S. Gill AVP Finance
Mr. Gaurav Gupta VP HRD
Mr. Harish Kumar AVP Operations
Mr. Rahul Shalya AVP CQF & Service
Customer Map
Passenger Car Segment (AC+ECM)
Refrigeration Trucks
Commercial Vehicle Segment (Bus, Truck, Tractor)
Railways (Driver Cabin + Coach)
Residential and Commercial
Tooling
Core Competencies
Backward integrated to enable built- in quality
India’s leading automotive AC company
Highly reliable & energy- Highly reliable & energy- efficient products
Cost-effective and high- quality durable solutions
Strong manufacturing & process technology infrastructure
Proven capabilities In full-system design, validation, manufacturing & supplies
Pan-India presence
Availability of cutting-edge technology through in-house technology development & technical collaboration with Denso Japan
Diversified business into multiple segments
Financial Results & Highlights
Results Analysis - Revenue
Results Analysis - EBITDA
Results Analysis - PBT/ PAT Results Analysis - PBT/ PAT
Financial key Indicators
Way Forward
Highlights- Financial Performance
Q1 2025-26 v/s Q1 2024-25
(Rs. in Cr.)
REVENUES EBITDA
PBT
PAT
878.25
87.70
54.44
40.66
8.45%
9.05%
15.43%
16.48%
Q1 2025-26 v/s Q4 2024-25 Q1 2025-26 v/s Q4 2024-25
(Rs. in Cr.) (Rs. in Cr.)
REVENUES
EBITDA
PBT
PAT
878.25
87.70
54.44
40.66
3.33%
11.62%
11.96%
11.98%
Revenue
EBITDA
PBT PBT
PAT
Business Highlights (Q1 2025-26)
Q1 25-26 vs Q1 24-25
Revenue growth is 8.45%
PV Segment Thermal business growth is 19%
EBIDTA growth is 9.05% Revenue growth is 10% Revenue growth is 10%
PBT growth is 15.43% EBIDTA growth is 14%
PAT growth is 16.48% PBT growth is 26%
Q1 2025-26 Highlights
Highest ever Revenue reported for Rs. 748 Cr. in quarter 4
Revenue reported for Rs. 878.25 Cr. in quarter 1
SOP of Fronx started from Karsanpura plant in Q4 in Q4
New business awarded from Customer for PV/CV segment for PV/CV segment
SOP of 1 New project is in pipeline for SOP of Truck Aircon and 1 EV Vehicle Q1 2023-24 started in Q1
Development activity for future Development in progress of new EV models/Technologies in progress business awarded in 2022-23
Standalone Results For Quarter Ending 30.06.2025
PARTICULARS
Net Sales Other Operating Income Net Income from Operation Other Income Net Revenue Raw Material Consumed Total Material cost % to Net Sales Staff Cost Staff cost % to Net Sales Other Exp. Other Exps. % to Net Sales EBIDTA % to Net Sales % to Net Sales Depreciation and Amortisation exp Depreciation % to Net Sales Interest Interest cost % to Net Sales Net Profit/(Loss) % to Net Sales (a) Current Tax (b) Deferred Tax Total Tax Tax as % to PBT Net Profit after Tax/(Loss) % to Net Sales Other Comprehensive Income (net of tax) Total Comprehensive Income % to Net Sales EPS
30.06.2025
Quarter Ended 31.03.2025
30.06.2024
87,510 315 87,825 569 88,394 62,830 71.80% 8,924 10.20% 7,870 8.99% 8,770 10.02% 10.02% 3,083 3.52% 243 0.28% 5,444 6.22% 1,689 (311) 1,378 25.32% 4,066 4.65% (14) 4,052 4.63% 6.23
90,568 279 90,846 646 91,492 66,028 72.90% 8,032 8.87% 7,509 8.29% 9,923 10.96% 10.96% 3,424 3.78% 315 0.35% 6,183 6.83% 1,812 (249) 1,563 25.27% 4,620 5.10% 71 4,691 5.18% 7.08
80,717 265 80,982 318 81,300 58,094 71.97% 7,918 9.81% 7,246 8.98% 8,042 9.96% 9.96% 3,059 3.79% 267 0.33% 4,716 5.84% 1,499 (274) 1,225 25.99% 3,491 4.33% (61) 3,430 4.25% 5.35
Amt in Lakhs
Year Ended 31.03.2025
3,35,700 1,057 3,36,757 2,078 3,38,835 2,43,217 72.45% 32,245 9.61% 29,061 8.66% 34,312 10.22% 10.22% 12,817 3.82% 1,148 0.34% 20,346 6.06% 6,276 (970) 5,306 26.08% 15,040 4.48% (58) 14,982 4.46% 23.05
Financial Performance Summary
Rs. in Cr.
Revenue
8.45%
Q1 FY 25-26 vs Q1 FY24-25
-3.33%
Q1 FY 25-26 vs Q4 FY24-25
908.46
878.25
809.82
Q1 FY 2024-25
Q4 FY 2024-25
Q1 FY 2025-26
T T B B P P
1,000.00
800.00
600.00
400.00
200.00
-
Key Aspects (QoQ):
• Revenue is higher by 8.45% in Q1 from the corresponding quarter due to increase in volume and Railways business.
Key Aspects (PQ):
• Net Sales is slightly lower by 3.33%
due to maintenance shut down of the customer in June,25 & delay in SOP of the new products
Financial Performance Summary
Rs. in Cr.
EBITDA
9.05%
Q1 FY25-26 vs Q1 FY24-25
-11.62%
99.23
Q1 FY25-26 vs Q4 FY24-25
87.70
80.42
Q1 FY 2024-25
Q4 FY 2024-25
Q1 FY 2025-26
T T B B P P
100.00
80.00
60.00
40.00
20.00
0.00
Key Aspects (QoQ):
• EBITDA is higher by 9.05% in Q1 due to
higher sales, material cost down initiatives adjusted with increase in manpower cost.
Key Aspects (PQ):
• EBITDA is lower by 11.62% in Q1 due
to decreased sales volume and increase in manpower cost due to salary/wage revision.
Financial Performance Summary
PBT
15.43%
Q1 FY25-26 vs Q1 FY24-25
-11.96%
Q1 FY25-26 vs Q4 FY24-25
61.83
54.44
47.16
70.00
60.00
50.00
40.00
30.00 T T B B 20.00 P P 10.00
0.00
Rs. in Cr.
PAT
16.48%
Q1 FY25-26 vs Q1 FY24-25
-11.98%
Q1 FY25-26 vs Q1 FY24-25
46.20
40.66
34.91
60.00
50.00
40.00
30.00
20.00
10.00
0.00
Q1 FY 2024-25
Q4 FY 2024-25
Q1 FY 2025-26
Q1 FY 2024-25
Q4 FY 2024-25
Q1 FY 2025-26
Key Aspects (QoQ):
•
PBT is higher by 15.43% in Q1 due to higher sales, material cost down initiatives adjusted with increase in manpower cost.
Key Aspects (PQ):
Key Aspects:
• PBT is lower by 11.96% in Q1 due to
•
PAT is in line with PBT.
decreased sales volume and increase in staff cost due to salary/wage revision.
Key Indicators Q1 FY 2025-26 v/s Q1 FY 2024-25
Rs. in Cr.
Indicators
Revenue
Other Income
Material Cost
Employee Cost
Other Expenses
Op. EBIDTA Op. EBIDTA
Finance Cost
Depreciation
PBT
PAT
Q1 FY 2024-25
Q1 FY 2025-26
Change
Status
809.82
3.18
71.97%
9.81%
8.98%
9.96% 9.96%
0.33%
3.79%
5.84%
4.33%
878.25
5.69
71.80%
10.20%
8.99%
10.02% 10.02%
0.28%
3.52%
6.22%
4.65%
68.43
2.51
-0.17
0.39
0.01
0.06 0.06
-0.05
-0.27
0.38
0.32
n
n
n
g
g
n
n
n
n
n
n Positive
g Moderate – variation upto 5% n Negative – variation exceeding 5%
Key Aspects:
• Revenue is higher by 8.45% in Q1 from the corresponding quarter due to increase in volume and SOP of new project including Railways business.
• Other income is higher due positive restatement of foreign liabilities and forward Investments income
covers
and
• Material cost is improved due to cost
optimization initiative realized.
•
Employee Cost is higher due to annual salary/wage revision.
Key Indicators Q1 FY 2025-26 v/s Q4 FY 2024-25
Rs. in Cr.
Indicators
Revenue
Other Income
Material Cost
Employee Cost
Other Expenses
Op. EBIDTA Op. EBIDTA
Finance Cost
Depreciation
PBT
PAT
Q4 FY 2024-25
Q1 FY 2025-26
Change
Status
908.46
6.46
72.90%
8.87%
8.29%
10.96% 10.96%
0.35%
3.78%
6.83%
5.10%
878.25
5.69
71.80%
10.20%
8.99%
10.02% 10.02%
0.28%
3.52%
6.22%
4.65%
-30.21
-0.77
-1.10
1.33
0.70
-0.94 -0.94
-0.07
-0.26
-0.61
-0.45
g
n
n
n
n
n n
n
n
n
n
n Positive
g Moderate – variation upto 5%
n Negative – variation exceeding 5%
Key Aspects:
• Revenue is lower by 3.33% in Q1 from previous quarter due to maintenance shut down and delay in SOP of new products.
•
In Q4 other Income was higher due to higher positive MTM on currency reinstatement and receipt of state incentive. incentive.
• Material cost is improved due to cost
optimization initiative realized.
• Employee Cost is higher due to annual
salary/wage revision.
• Other expenses are slightly higher due to maintenance shutdown resulting increased repair & maintenance, consumable cost.
WAY FORWARD
Market and Revenue Potential
Company Growth aligned to Industry Growth in all segments
Business Expansion in CV Segment (Bus, rail, Truck)
To Realize business opportunities Green Mobility ( EV, SHEV, CNG etc)
Operational Aspects
Technology upgrade to meet regulatory changes (BSVI, RDE, CAFÉ etc)
Mitigating Impact of Foreign Exchange thru Hedging and Aggressive Localization
Capacity thru Internal efficiency optimization and Expansion plans
Cost Optimization by improvement in Operational Efficiencies.
Human Skill development and Organization structure to meet Future requirement
ESG goals to meet future sustainability and social requirements
Thank You
Cooling the Planet