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Prices as of 8 Oct 2026 close · Not investment advice

Subros Limited

NSE: SUBROSOther Industrial Products

Share price

₹664.50

-1.63% close of 8 Oct 2026

Market cap ₹4,319 CrP/E 25.1

Business score

How strong the business is, in one number. The parts behind it are in Pro.

68

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹4,319 Cr

P/E ratio

25.1

P/B ratio

3.5

ROCE

19.2%

ROE

14.5%

Dividend yield

0.4%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹1,164.0052-week low ₹635.25

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 13.8% over the past year, and 9.3% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 6.7% to 8.2% over the last four years.

Whether it grew faster than its sector

It grew 9.3% a year against a sector median of 10.6% — 1.3 percentage points slower.

Room to re-rate, or risk of de-rating

At 25.1× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 36.2×, across 5 companies. It is against its own five-year median of 41.7×, the 0th percentile of its own range.

Whether growth justifies the valuation

Priced at 0.5 times its growth rate, on earnings growth of 53%.

Profit growthPrice per ₹1 profitPer 1% growth
Subros Limited — this one53%/yr25.1×₹0.47
HBL Engineering Limited105%/yr25.3×—
INOX India Limited19%/yr71.4×₹3.8
KRN Heat Exchanger and Refrigeration Limited—90.4×—
Esab India Limited13%/yr36.2×₹2.8
Harsha Engineers International Limited4%/yr26.0×₹6.5

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Other Industrial Products), it ranks 6 of 15 on returns, 8 of 15 on growth, 13 of 15 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 19.2% on capital, ahead of 60% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹738 crore of cash from the business, spent ₹599 crore on plant and equipment, and returned ₹120 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 237 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 9 days before it paid its own suppliers to waiting 32 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 7 Aug 2026 · Consolidated · Unaudited

Revenue

₹1,032 Cr

Revenue vs last year

+17.6%

Revenue vs last quarter

-1.7%

Net profit

₹42 Cr

Profit vs last year

+1.3%

Profit vs last quarter

-15.3%

Net margin

4.0%

EPS

₹6.36

Earnings call transcript · 10 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹4,319 Cr
Prev close
₹664.50
52w High
₹1,173
52w Low
₹622
Enterprise value
₹4,254 Cr
Beta
1.4
Price CAGR 1y
-39.0%
Price CAGR 3y
22.0%
Price CAGR 5y
13.0%
Price CAGR 10y
17.0%

Ratios

Return on assets
7.8%
PEG ratio
0.5
P/E ratio
25.1
P/B ratio
3.5
EV / EBITDA
13.2
Industry P/E
25.2
ROCE
19.2%
ROCE 5y average
14.2%
ROE
14.5%
Debt / Equity
0.1
Interest coverage
23.0
Dividend yield
0.4%
ROE 3y average
13.0%
ROE last year
14.0%

Annual P&L

Annual revenue
₹3,756 Cr
Annual profit
₹166 Cr
Operating margin
9.0%
Net profit margin
4.4%
EBITDA margin
8.7%
Sales growth 3y
10.2%
Sales growth 5y
15.9%
Profit growth 3y
53.0%
Profit growth 5y
29.0%
EPS
₹25.4
Sales growth TTM
14.0%
Profit growth TTM
10.0%
Dividend payout
12.0%

Quarter P&L

Sales latest quarter
₹1,032 Cr
Profit latest quarter
₹42 Cr
YoY quarterly sales growth
17.5%
YoY quarterly profit growth
2.4%
OPM latest quarter
7.8%

Balance Sheet

Book Value
₹191
Face Value
₹2.0
Total debt
₹75 Cr
Total cash
₹38 Cr
Borrowings
₹75 Cr
Reserves / Equity
94.7

Cash Flow

Operating cash flow
₹105 Cr
Free cash flow
-₹42 Cr
FCF yield
-1.2%
Net cash flow
-₹25 Cr

Shareholding

Promoter holding
36.8%
FII holding
32.7%
DII holding
10.7%
Public holding
19.8%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
HBL Engineering728.0025.220,1800.40109.1-25.1638.06.059.3
Inox India2,038.6072.018,5030.1058.1-5.0370.89.233.5
KRN Heat Exchan1,414.8595.59,2610.0032.9164.9252.3118.916.0
Esab India5,385.0040.08,2891.3956.137.1421.119.664.7
Subros663.7025.24,3300.4441.51.71,032.117.519.2
Harsha Engg Intl442.6026.14,0300.3337.4-1.4457.425.213.0
Ador Welding1,494.1521.72,6001.4927.4890.5308.623.222.7
Median330.0525.45550.006.210.269.516.716.2

Competes with: Ador Welding Limited, Beardsell Limited, Delta Manufacturing Limited, Diffusion Engineers Limited, Esab India Limited, HBL Engineering Limited, Harsha Engineers International Limited, Hy-Tech Engineers Limited, INOX India Limited, KRN Heat Exchanger and Refrigeration Limited, Kirloskar Industries Limited, MIC Electronics Limited, Mallcom (India) Limited, Oriental Rail Infrastructure Limited, PTC Industries Limited, WH Brady & Company Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6938137328328108288219088788809481,0501,032
Expenses646743673755733752745816796811866958951
Material Cost655657635697763780
Change in Inventories4.94-285.62-5.1312-22
Purchases of Stock-in-Trade000000
Employee Cost8089919094103
Other Expenses757980858890
Operating Profit47706077777676938268819281
OPM %6.828.638.139.259.549.239.24109.347.788.598.767.83
Other Income23743656620-286
Exceptional items (within Other Income)000-8.0800
Interest2344323322323
Depreciation27292832313232343131323129
Profit before tax20423445474946625555456656
Tax %32362132262528252525222626
Net Profit14272730353633464141354942
EPS in Rs2.084.104.124.665.365.585.057.086.266.255.337.566.36
Diluted EPS in Rs7.086.266.245.337.566.36

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,1921,2981,5351,9132,1241,9931,7962,2392,8063,0713,3683,7563,909
Expenses1,0551,1461,3671,7031,8961,8041,6422,0892,6382,8153,0453,4303,587
Material Cost2,4292,752
Change in Inventories3.53-16
Purchases of Stock-in-Trade00
Employee Cost322364
Other Expenses291331
Operating Profit137152168210229189154149168255323325323
OPM %1112111111997681098
Other Income12-2466621192014203031
Exceptional items (within Other Income)0-8.08
Interest3942484142361611712119.6310
Depreciation79878892799092102110117128125123
Profit before tax2026882114124564571141204220221
Tax %09-63263332162832312625
Net Profit20241361768547324898151166166
EPS in Rs3.343.992.201012137.264.987.3515232526
Diluted EPS in Rs2325
Dividend Payout %21202311116101414121112

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
11%
5 years
16%
3 years
10%
TTM
14%

Compounded profit growth

10 years
22%
5 years
29%
3 years
53%
TTM
10%

Stock price CAGR

10 years
17%
5 years
13%
3 years
22%
1 year
-39%

Return on equity

10 years
10%
5 years
10%
3 years
13%
Last year
14%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital121212121313131313131313
Reserves3053233353926677397828118549431,0811,231
Borrowings420390404385244155523319354175
Other Liabilities236276373508456482602648657661724815
Minority Interest0
Total Liabilities9731,0011,1251,2971,3801,3881,4491,5051,5431,6511,8592,134
Fixed Assets537563497670690765745726723745719730
CWIP8854149908666546186807979
Investments00122155255116143
Other Assets3483844775366035556467127098219451,182
Total Assets9731,0011,1251,2971,3801,3881,4491,5051,5431,6511,8592,134

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity141151111315100239154151141166175105
Cash from Investing Activity-94-69-75-231-126-93-58-100-145-92-165-137
Cash from Financing Activity-48-82-35-7217-148-68-534-65-137
Net Cash Flow-1-0113-8-328-1-18-3-25
Free Cash Flow47823384-261419245314759-42

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days242831312935423727344956
Inventory Days787370666161807057605660
Days Payable4954821129610013010783818482
Cash Conversion Cycle524719-16-6-4-9-12132134
Working Capital Days-36-33-47-52-29-23-16-9-671732
ROCE %8912161913879162019

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters373737373737373737373737
FIIs333333333333333333333333
DIIs119.489.96101111111111111111
Public202020202020191919192020
No. of Shareholders38,40248,33753,98146,56747,76048,93447,84847,45048,42752,75854,70856,225

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -42.9% (₹1,164.00 → ₹664.50)Brick size ₹20.12 (fixed)Bricks 72
₹800₹1,000₹665Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹664.50 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-65.08inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

85,46,928inr

2026-03-31

News

News and filings about Subros Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Aluminium (condensers, brazed multi-flow condensers, heater cores, evaporators, heat exchangers)
  • Copper (heater cores, coils/motors)
  • Imported components / compressors & spare parts (Denso, yen-denominated; ~16% of revenues)
  • Polypropylene / engineering plastics (HVAC housings)
  • Steel (compressor housings, brackets, structural)

Depends on the price of

  • aluminium
  • copper
  • steel

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Other Industrial Products
Classification
Capital Goods › Other Industrial Products
ISIN
INE287B01021

Plants

  • Chennai Plant
  • Karsanpura Plant
  • Manesar Plant · Gurugram, Haryana
  • Nalagarh Plant
  • Noida Plant (Advanced Heat Exchanger / Condenser / Compressor)
  • Pune Plant

News impact

Big market events that reach Subros Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

11 Sep 2026unspecified₹3
11 Sep 2025unspecified₹2.6
11 Sep 2024unspecified₹1.8
22 Aug 2023unspecified₹1
28 Jul 2022unspecified₹0.7
6 Sep 2021unspecified₹0.7
7 Sep 2020unspecified₹0.8
26 Jul 2018unspecified₹1.1

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Bulk & block deals

DateWhoBought / soldSharesPrice
22 Jun 2026NK SECURITIES RESEARCH PRIVATE LIMITEDBUY4,65,638₹852.92
22 Jun 2026NK SECURITIES RESEARCH PRIVATE LIMITEDSELL4,65,638₹853.44
22 Jun 2026QE SECURITIES LLPSELL3,43,075₹846.60
22 Jun 2026QE SECURITIES LLPBUY3,41,188₹855.85

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.