The shares of India’s largest manufacturer of automotive condensers gained up to 7.3 percent to Rs 424.05 per share on Friday’s first half of the session after the company announced strong Q2 results.
At 11:26 a.m., Subros Ltd shares were trading at Rs 411.20 a share, up Rs 15.60 or 3.94 percent on the National Stock Exchange, the company has a market capitalization of Rs 2,682 crores.
According to the company’s exchange filing. Subros Ltd reported a 118 percent increase in revenue year on year, from Rs 693 crore in Q2FY23 to Rs 811 crore in Q2FY24. During the same period, net profit jumped by 172 percent from Rs 9.82 crore to Rs 26.73 crore.
In comparison to the previous quarter, operational revenue increased by 17 percent from Rs 691 crore in Q1FY24 to Rs 811 crore in Q2FY24, Further net profit has risen by 99 percent from Rs 13.46 crore to Rs 26.73 crore.
Subros shares have delivered a return of 24 percent in the last six months and 29 percent in a year.
The company sales are higher by 16.98 percent in Q2 FY 23-24 compared to the corresponding quarter of last year, due to an increase in volume and the Start of Production (SOP) of new business awards.
The Company’s return on equity increased from 3.95 percent in FY22 to 5.54 percent in FY23, while the return on capital employed rose from 6.41 percent to 8.42 percent during the same period.
As per the latest shareholding pattern, promoters of the company hold a 36.79 percent stake, and Foreign Institutional Investors (FIIs) hold 32.74 domestic institutional investors(DIIs) hold a 10.96 percent stake in the company.
Subros Limited is engaged in the business of manufacturing and supplying Auto Air Conditioning products for all major Automakers in Passenger and Commercial Vehicle Space.
Subros is the largest Air Conditioning & Thermal Products company in India. It has a market share of 42 percent and 51 percent in the Passenger Car AC and Truck Aircon/Blower segment respectively.
Written by Omkar Chitnis
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