Is Subros a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Subros Ltd is a average quality company .

Is Subros undervalued or overvalued?

The key valuation ratios of Subros Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Subros share price return in the past 10 years?

Subros Ltd share price has appreciated 25.1% annually (CAGR) over the past ten years.

Is Subros a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Subros Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Subros Ltd - Stock Valuation and Financial Performance

Name: Subros
Brand: Subros

BSE: 517168 | NSE: SUBROS | Auto Ancillary | Small Cap

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Subros Share Price

₹621.70 -21.40 -3.33%
as on 30-Dec'24 16:59

10 Year X-Ray of Subros:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	8.1%	9.3%	7.6%	16%	18.2%	17.6%	8.1%	6.3%	8.5%	15.8%	-
Value Creation Index ⓘ	-0.4	-0.3	-0.5	0.2	0.3	0.3	-0.4	-0.6	-0.4	0.1	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,197	1,307	1,535	1,913	2,124	1,993	1,796	2,239	2,806	3,071	3,202
Sales YoY Gr.	-	9.2%	17.5%	24.6%	11.1%	-6.2%	-9.9%	24.7%	25.4%	9.4%	-
Adj EPS ⓘ	3.4	3.8	5	9.7	11.6	7.9	6.9	5	6	14.7	19.8
YoY Gr.	-	13.3%	30.3%	94.4%	19.1%	-32%	-12.6%	-27.7%	20.7%	144.7%	-
BVPS (₹) ⓘ	52.9	55.9	58	67.5	104.3	115.3	121.8	126.2	132.9	146.5	155.5
Adj Net Profit ⓘ	20.3	23	29.9	58.2	75.4	51.3	44.8	32.4	39.2	95.8	129
Cash Flow from Ops. ⓘ	143	149	111	316	100	239	155	151	141	165	-
Debt/CF from Ops. ⓘ	2.9	2.6	3.7	1.2	2.4	0.6	0.6	0.4	0.5	0.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11%	7.6%	19.6%	9.4%
Adj EPS ⓘ	17.7%	4.9%	28.8%	144.7%
BVPSⓘ	12%	7%	6.4%	10.2%
Share Price	25.1%	19.3%	19.1%	14.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	6.6	7.1	8.8	15.5	13.9	7.2	5.8	4	4.6	10.5	13.1
Op. Profit Mgn % ⓘ	11.4	11.7	10.9	11	10.8	9.7	8.6	6.7	6	8.3	9.1
Net Profit Mgn % ⓘ	1.7	1.8	2	3	3.6	2.6	2.5	1.5	1.4	3.1	4
Debt to Equity ⓘ	1.3	1.2	1.2	1	0.4	0.2	0.1	0.1	0.1	0	0
Working Cap Days ⓘ	91	88	89	94	95	102	117	106	92	92	48
Cash Conv. Cycle ⓘ	31	29	17	1	-5	0	2	3	5	9	12

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 13.10%

Sales growth is growing at healthy rate in last 3 years 19.58%

Net Profit is growing at healthy rate in last 3 years 28.80%

Sales growth is good in last 4 quarters at 10.43%

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Latest Financials - Subros Ltd.

	Standalone	Consolidated
TTM EPS (₹)	19.8	19.7
TTM Sales (₹ Cr.)	3,202	3,202
BVPS (₹.) ⓘ	155.5	155.6
Reserves (₹ Cr.) ⓘ	1,002	1,002
P/BV ⓘ	4.13	4.13
PE ⓘ	32.56	32.60

From the Market
52 Week Low / High (₹)	483.65 / 825.00
All Time Low / High (₹)	1.38 / 825.00
Market Cap (₹ Cr.)	4,195
Equity (₹ Cr.)	13.1
Face Value (₹)	2
Industry PE ⓘ	50

Management X-Ray of Subros:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Subros

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Subros

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	1,197	1,307	1,535	1,913	2,124	1,993	1,796	2,239	2,806	3,071
Operating Expenses ⓘ	1,060	1,155	1,367	1,703	1,896	1,804	1,651	2,090	2,639	2,818
Manufacturing Costs	74	77	95	114	121	109	103	126	156	170
Material Costs	814	883	1,067	1,335	1,484	1,408	1,290	1,661	2,150	2,267
Employee Cost	112	126	154	188	206	207	188	227	248	284
Other Costs ⓘ	61	68	51	66	85	79	70	76	85	97
Operating Profit ⓘ	137	152	168	210	228	189	144	149	168	252
Operating Profit Margin (%)	11.4%	11.6%	10.9%	11.0%	10.7%	9.5%	8.0%	6.6%	6.0%	8.2%
Other Income ⓘ	1	2	7	7	10	20	20	10	21	17
Interest ⓘ	39	42	48	41	42	36	16	11	7	12
Depreciation ⓘ	79	86	88	92	79	90	92	102	110	117
Exceptional Items ⓘ	0	0	-31	-2	-3	41	0	0	0	0
Profit Before Tax ⓘ	20	26	8	82	114	124	56	45	71	141
Tax ⓘ	0	2	-5	22	38	39	9	13	23	43
Profit After Tax	20	24	13	61	76	85	47	33	48	98
PAT Margin (%)	1.7%	1.8%	0.9%	3.2%	3.6%	4.2%	2.6%	1.5%	1.7%	3.2%
Adjusted EPS (₹)	3.4	4.0	2.2	10.1	11.7	13.0	7.2	5.0	7.4	15.0
Dividend Payout Ratio (%)	21%	20%	22%	11%	11%	6%	10%	14%	14%	12%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	317	335	348	405	680	752	795	823	867	956
Share Capital ⓘ	12	12	12	12	13	13	13	13	13	13
Reserves ⓘ	305	323	336	393	667	739	782	810	854	943
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	333	297	327	315	188	113	79	49	67	30
Long Term Debt	214	189	157	153	57	23	25	13	5	0
Short Term Debt	119	108	170	163	130	90	54	35	63	30
Trade Payables	110	129	240	410	390	385	461	489	489	504
Others Liabilities ⓘ	212	239	217	191	182	218	203	241	226	284
Total Liabilities ⓘ	973	1,001	1,131	1,321	1,440	1,468	1,538	1,601	1,650	1,774
Fixed Assets
Gross Block	1,094	1,208	585	847	934	1,096	1,159	1,230	1,326	1,450
Accumulated Depreciation	557	645	88	177	244	331	414	504	602	705
Net Fixed Assetsⓘ	536	563	497	670	690	765	745	726	723	745
CWIP ⓘ	88	54	149	90	86	66	54	61	86	80
Investmentsⓘ	3	3	3	3	2	2	5	5	25	5
Inventories	173	177	205	240	249	234	281	318	339	375
Trade Receivables	78	99	130	161	167	189	204	226	208	283
Cash Equivalents	7	7	4	20	90	91	119	119	88	122
Others Assetsⓘ	87	99	143	138	155	121	130	147	181	163
Total Assets ⓘ	973	1,001	1,131	1,321	1,440	1,468	1,538	1,601	1,650	1,774

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	143	149	111	316	100	239	154	151	141	165
PBT ⓘ	20	26	8	82	114	124	56	45	71	141
Adjustment ⓘ	117	128	124	140	109	116	106	110	110	119
Changes in Working Capital ⓘ	9	0	-19	107	-99	21	4	4	-30	-69
Tax Paid ⓘ	-4	-6	-2	-14	-24	-22	-12	-9	-10	-26
Cash Flow From Investing Activity ⓘ	-96	-68	-75	-231	-126	-93	-58	-100	-145	-91
Capex	-96	-68	-78	-231	-127	-98	-62	-106	-132	-119
Net Investments	0	0	0	0	0	0	-3	0	-19	22
Others ⓘ	0	0	3	1	1	5	7	6	5	5
Cash Flow From Financing Activityⓘ	-48	-82	-35	-72	17	-148	-68	-53	4	-65
Net Proceeds from Shares ⓘ	0	0	0	0	209	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-20	-19	-46	-12	-112	-60	-11	-17	-12	-13
Interest Paid ⓘ	-49	-47	-47	-48	-40	-37	-14	-11	-7	-12
Dividend Paid ⓘ	-5	-5	-5	-3	-7	-8	-5	-5	-5	-7
Others ⓘ	26	-11	64	-9	-34	-43	-37	-20	27	-33
Net Cash Flow ⓘ	-1	0	1	13	-8	-2	28	-1	-1	8

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	6.56	7.36	3.9	16.11	14.03	11.81	6.04	4.03	5.69	10.71
ROCE (%)	8.14	9.32	7.59	16.03	18.22	17.57	8.05	6.34	8.52	15.8
Asset Turnover Ratio	1.41	1.5	1.63	1.61	1.54	1.37	1.2	1.43	1.74	1.8
PAT to CFO Conversion(x)	7.15	6.21	8.54	5.18	1.32	2.81	3.28	4.58	2.94	1.68
Working Capital Days
Receivable Days	19	22	24	27	28	33	40	35	28	29
Inventory Days	48	43	40	41	42	44	52	49	42	42
Payable Days	49	50	63	89	98	100	120	104	83	80

Subros Ltd Stock News

Subros Ltd FAQs

What is the share price of Subros?

Company share prices are keep on changing according to the market conditions. The closing price of Subros on 30-Dec-2024 16:59 is ₹621.7.

What is the market cap of Subros?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Dec-2024 16:59 the market cap of Subros stood at ₹4,195.3.

What is the P/E ratio of Subros?

The latest P/E ratio of Subros as of 30-Dec-2024 16:59 is 32.56.

What is the P/B ratio of Subros?

The latest P/B ratio of Subros as of 30-Dec-2024 16:59 is 4.13.

What is the 52-week high and low of Subros?

The 52-week high of Subros is ₹825.0 and the 52-week low is ₹483.6.

What is the TTM revenue of Subros?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Subros is ₹3,202 ( Cr.) .

About Subros Ltd

Subros was established in 1985 as a joint venture between the Suri Brothers, Denso Corporation, Japan and Suzuki Motor Corporation, Japan.

The company has grown from a capacity of 15,000 AC units in 1985 comprising of largely an assembly operation, into the largest and only integrated manufacturing unit in India for Auto Air Conditioning systems. The company has the capability to manufacture compressors, condensers, heat exchangers and all the connecting elements that are required to complete the AC Loop.

Subros has three plants in Noida, one in Manesar and one in Pune. It also has a R&D centre and Tool room in Noida. The manufacturing capacity has grown to a level of 7,50,000 AC units per annum and there is a plan to go to a level of 1,000,000 per annum by 2008.

Subros has production facility in Noida, Manesar and Noida plant produces state-of-the-art, Brazed Multi Flow (MF) Condensors, Serpentine (SP) Condensors and SP Evaporators. The facilities also include injection moulding shop for manufacture of final assemblies and cooling units.

In 2010 The Company and Denso Corporation Japan agreed to form a Joint Venture Company in India for designing automobile air conditioning systems and other devices.
2011-12 Inauguration of Chennai Plant.
2012-13 Subros Launched Transport Refrigeration Systems

Compressor & HAVC Division of Noida: The compressor plant produces 10P and 10S compressors for various vehicle applications. This plant extensively uses CNC machines and automatic testing equipment for production of compressors. This plant also produces hoses and tube liquids using state-of-the-art equipment.
Die Casting Division / Tool Room of Noida: Subros posses India's only Squeeze Die Casting plant to produce high quality intricate castings using squeeze and vacuum die casting. The technology is provided by the collaborator M/s Denso Corporation, Japan.
Manesar Division : Plant has been set up in Manesar in vicinity of the MUL factory on a land area of 38000 sq mtrs. The plant is equipped with latest state of art manufacturing and testing facilities.
Pune Division : Pune Plant has been built in Chakan , Pune on a land area of over 24000 sq mtrs. The plant's vicinity to TML helps in providing faster and efficient service to the customer. The plant will also cater to the requirements of all other west based customers. The plant has latest production facilities and a new product design/ development setup as well.

Product range of the company includes:

Subros products are known for their reliability, energy efficiency and low noise levels, making them the OE customerâ€™s preferred choice. The company manufactures new generation energy efficient swash plate compressors from 83cc ~ 138cc to meet all the customer needs in India. HVACs, Condersors and pipings are designed to suit vehicle configurations.

Compressors- Subros has wide range of swash plate of compressors, compatible for R12 as well as eco friendly R-134a Refrigerant. These compressors are available in different size and capacities to suit your requirements and engine power. Because of its unique design. These compressors draw little power from engine and works efficiently and silently.
Condensors- Subros is the largest manufacturer in India for the automotive condensors. These condensors are manufactured in house with technical collaboration with M/S Denso Corporation of Japan on Japanese machines.
Evaporators- Subros existing serpentine evaporators with corrugated fins, are highly efficient and light in weight. After extensive trial, Subros has adopted latest technology in evaporators. Multi-Flow (MF) evaporators are 50% lighter in weight and 15% better in performance than existing serpentine evaporator. They also give higher fuel efficiency, better cooling, easy service in the field and need less refrigerant.
Blowers- High speed, low current consumption Blowers with air discharge resulting in complete circulation of air in passenger compartment. Suitable for All Maruti, Telco, Honda City vehicles.
Heaters- Aluminium Heater light weight, smaller in size high heat transfer unit suitable for Alto / Wagon-R, Versa, Baleno vehicles
Tubes & Hoses- made from special grade aluminium material with wrinkle free bending and special grade rubber material for carrying high pressure R134a environment friendly refrigerant from Compressor to Condensor to Evaporator in order to keep the Vehicle cabin cool during summer.

Achievements/ recognition

MUL Award for System Audit Rating Performance for the year 2006-08
MUL Certificate for Appreciation to participated in All India Vendor Conference for the year 2007
MUL Award for Vendor Performance 2007-08 in Warranty Improvement
2002-03: ISO 14001- EMS
2004-05: OSHAS 18001, TS 16949, : rated among top 5 IT user in manufacturing sector in India by NASSCOM
2005-06: Maruti Award for overall performance, quality, VAVE and vendor upgradation.