Subros Ltd

Overview

• Subros Limited files the BRSR for FY 2025-26 as part of the annual report.
• BRSR submission is pursuant to SEBI LODR Regulation 34(2)(f).

• Revenue from operations: Rs 3,755.52 Cr; up 11.52% YoY.
• Net profit after tax: Rs 165.78 Cr; up 10.22% YoY.
• PBT: Rs 220.29 Cr; operating margin 9.39%; net margin 4.41%.
• Final dividend proposed: Rs 3 per share; total Rs 1,957.07 Lakhs.
• Material RPT with Global Autotech Limited up to Rs 410 Cr.
• Material RPT with Maruti Suzuki India Limited up to Rs 3,600 Cr.
• Kharkhoda project long-term borrowings Rs 29.67 Cr (sanctioned Rs 112.5 Cr).
• EV compressors capacity: 400k units/yr at Karsanpura; capex ~ Rs 175 Cr.
• ICE compressors capacity: 500k units/yr; capex ~ Rs 90 Cr.
• Board: 12 directors; 6 independent; several changes in 2026.

Meeting Details

• Date: August 10, 2026; Analyst/Investor Conference Call on Q1 2026-27 results.
• Purpose: discuss quarterly results for quarter ended 30 June 2026.
• Availability: Transcript uploaded on the company's website.

Meeting details

• Date: August 10, 2026; Investor Conference Call (audio) held.
• Time: not disclosed; mode not disclosed.

Availability

• Audio recording uploaded to the company website.

Meeting Details

• Scheduled for Friday, 7 August 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve the unaudited financial results for the quarter ended 30 June 2026.

Other Notes

• No additional material notes disclosed.

Dematerialisation status

• Within 15 days of receipt, dematerialised securities were listed on stock exchanges.
• Certificates were mutilated and cancelled with the depository substituted as registered owner.
• Actions completed within the 15-day timeline.

Credit Rating Action

• ICRA assigned [ICRA]AA (Stable) rating to Rs. 40 crore term loan
• ICRA reaffirmed [ICRA]A1+ rating for Rs. 50 crore short-term non-fund based facilities
• ICRA reaffirmed [ICRA]AA (Stable)/[ICRA]A1+ for Rs. 80 crore long/short-term fund based limits
• ICRA reaffirmed [ICRA]AA (Stable)/[ICRA]A1+ for Rs. 100 crore long/short-term fund/non-fund based limits
• ICRA reaffirmed [ICRA]AA (Stable)/[ICRA]A1+ for Rs. 35 crore long/short-term unallocated limits
• Total rated bank facilities amount to Rs. 305 crore

Rating Agency and Instruments

• Rating agency: ICRA Limited
• Instruments rated include term loans, fund based, non-fund based, and unallocated bank limits

Rating Outlook and Surveillance

• Overall rating outlook is Stable
• Ratings will be reviewed within one year or earlier if new information arises