Subros Ltd., a leading thermal products manufacturer for automotive applications, has announced a significant increase in its financial performance for the fourth quarter of FY24. The company reported a net profit of ₹30.68 crore, marking a 65% year-on-year (YoY) rise from the same period last year. Operating revenue for the quarter also saw an 11% YoY increase, reaching ₹831.51 crore.
Full-Year Performance
For the entire fiscal year FY24, Subros Ltd. recorded a remarkable 103% increase in net profit, amounting to ₹97.66 crore. The company’s operating revenues grew by 9% to ₹3,070.57 crore during the same period.
Key Drivers of Growth
In its investor presentation, Subros attributed its robust performance to a rise in production volumes and the commencement of new business projects. These factors significantly contributed to both the quarterly and annual financial improvements.
Company Background
Established in 1985, Subros Ltd. is a joint venture between the Indian promoters, the Suri family, who hold a 36.79% equity stake, and international partners Denso (20%), Suzuki (11.96%), with the remaining 31.25% owned by the public. Subros serves a wide range of segments, including buses, trucks, tractors, reefers, railways, and home air conditioning.
Market Share and Infrastructure
Subros holds a dominant position in the market, with approximately 43% of the passenger car air conditioning market and 54% of the truck air conditioning and blowers market in India. The company operates seven manufacturing plants across the country and has two technical centers and a tool engineering center in Noida.
Future Outlook
The strong financial performance underscores Subros’ strategic initiatives and its ability to capitalize on market opportunities. The company’s ongoing expansion and the successful launch of new business ventures are expected to sustain its growth trajectory in the coming years.
