Subros Ltd., a leading thermal product company for automotive applications, reported Rs 30.68 crore in net profit during Q4 FY24, translating into a 65% year-on-year (YoY) jump over a similar period last year. The operating revenue during the same period jumped by 11% YoY to Rs 831.51 crore in Q4 FY24.
On a full-year basis, Subros Ltd's net profit witnessed a 103% jump to Rs 97.66 crore in FY24, while operating revenues jumped 9% to Rs 3070.57 crore during the fiscal.
In an investor presentation, the company attributed the growth to an increase in volume and the start of production (SOP) of new business award.
Established in 1985, Subros is a joint venture between Suri’s (Indian Promoters), holding 36.79% equity. The rest is owned by Denso (20%), Suzuki (11.96%), and the public (31.25%), the company records reveal. The company caters to the bus, trucks, tractors, reefers, railways, and home AC segments. In terms of market share, the company holds about 43% of passenger car AC, and 54% of truck air conditioning and blowers.
Subros operates out of seven plants spread across the country and also has a couple of technical centers in Noida. It also has a tool engineering center in Noida.