Subros Limited · NSE:SUBROS
Subros — Q3 FY2025-26 Earnings Presentation
20 slides from Subros's earnings presentation, Jan 30, 2026
Slide 1: Cover letter to stock exchanges on investor presentation
SL/BSE/NSE/2025-26// January 30, 2026 The Manager, Dy. General Manager, Listing Department, Department of Corporate Services, National Stock Exchange of India Ltd., BSE LIMITED, ‘Exchange Plaza’ C-11 , Block G, First Floor, P.J. Towers, Bandra-Kurla Kurla Complex, Bandra (E), Dalal Street, Fort, Mum
Slide 2: Financial Results Quarter 3, FY 2025-26 Investor Presentation
Financial Results Quarter 3, FY 2025-26 Investor Presentation
Slide 3: Safe Harbour
SAFE HARBOUR This presentation might contain forward looking statements which involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements. The Company undertakes no obligation to update these to refl
Slide 4: Company Profile and Our Presence
Company Profile Established in 1985, Subros is the Largest Air Conditioning & Thermal Products companyp y in India. A Joint Venture company between OUR PRESENCE Indian Promoters -36.79%,, Denso-20%,, E it Di Equity Distribution t ib ti Suzuki-11.96%, Public-31.25% Integrated Thermal Products manufac
Slide 5: Our Board
Our Board Ms. Shradha Suri Mr. Hisahi Takeuchi Mr. Tomoaki Yoshimori Mr. Tsunenobu Hori Dr. Jyotsna Suri Mr. Parmod K. Duggal Mr. Naohisa Kuriyama Chairperson & Managing Representative of Suzuki Representative of Alternate Director Director Executive Director & CEO Representative of Director Motor C
Slide 6: SEC Team and OEC Team
SEC Team Ms. Shradha Suri Mr. Parmod K. Duggal Mr. Srini Dampur Marwah ED & CEO EVP (Technical Centre CMD & STEC) OEC Team Mr. A.K. Parashar Mr. Roopak Mr. Harish Mr. Rahul Mr. Hemant Agarwal Mr. Ajay Agarwal Mr. S.S. Gill Mr. Gaurav Gupta Shalya AVP EVP & COO Agarwal Kumar CFO & SVP Finance VP SCM
Slide 7: Core Competencies
Core Competencies Backward integrated to enable built- Strong manufacturing & process in quality technology infrastructure India’s leading automotive AC company Proven capabilities In full-system design, validation, manufacturing & supplies Highly Hi hl reliable li bl & energy- efficient products Pa
Slide 8: Financial Results & Highlights
Fi Financial i lRResults lt & Highlights Hi hli ht Results Analysis ‐ Revenue Results Analysis ‐ EBITDA R Results l A Analysis l i ‐ PBT/ PAT Financial key Indicators Way Forward
Slide 9: Highlights - Financial Performance
Highlights- Financial Performance Q3 2025-26 v/s Q3 2024-25 (Rs. in Cr.) 15.43% REVENUES 947 68 947.68 EBITDA 87.19 8.13% PBT * 52.75 15.17% Revenue PAT 34.84 6.08% EBITDA Q3 2025-26 v/s Q2 2025-26 REVENUES 947 68 947.68 7.71% PBT* PBT EBITDA 87.19 0.90% PBT* 52.75 3.20% PAT PAT 14.18% 34.84 9M 2025
Slide 10: Business Highlights (Q3 2025-26)
Business Highlights (Q3 2025 2025-26) 26) Q3 25-26 vs Q3 24-25 Q3 2025-26 Highlights PVRevenue RSegmentgrowth Thermal h is business 43% growth i 15.43% 15 Highestever Highest ever Revenue Revenue reported reportedforfor Rs Rs.Rs Rs. is 19% 947.68 Cr. in quarter 748 Cr. in quarter 4 3 of FY26 New bus
Slide 11: Financial Statement for the period ended 31.12.2025
Financial Statement for the period ended 31.12.2025 Rs. in Lakhs Quarter Ended Nine Months Ended Year Ended PARTICULARS 31.12.2025 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 Nett Sales N S l 94 443 94,443 87 662 87,662 81 854 81,854 269 615 269,615 245 133 245,133 335 700 335,700 Other O
Slide 12: Financial Performance Summary - Revenue
Financial Performance Summary Rs. in Cr. Revenue Key Aspects (Nine Months): 9M 2024-25 vs 9M 2025-26 • Revenue is higher by 10.03% due 10.03% to increase in volume and Start 2,705.76 of Production (SOP) of new 2,459.11 business award Q3 FY25 vs Q3 FY26 15.43% Key Aspects (QoQ): PBT T Q2 FY26 vs Q3 F
Slide 13: Financial Performance Summary - EBITDA
Financial Performance Summary Rs. in Cr. EBITDA Key Aspects (Nine Months): • EBIDTA is higher by 7.78% during 9M: • Accrued incentive income of Rs 14.14 Cr. 9M 2024-25 vs 9M 2025-26 • High material cost-Adverse commodity & Currency, P d Product Mi change, Mix h & hi h conversion higher i cost 7.78%
Slide 14: Financial Performance Summary - PBT (Before Exceptional)
Financial Performance Summary Rs. in Cr. PBT (Before Exceptional) Key Aspects (Nine Months): • PBT is higher by 14.15% during 9M 9M 2024-25 vs 9M 2025-26 • Accrued incentive income of Rs 14.14 Cr. • High material cost-Adverse commodity & Currency, Product Mix change, g & higher g conversion cost 14
Slide 15: Financial Performance Summary - PAT
Financial Performance Summary Rs. in Cr. PAT 9M 2024-25 vs 9M 2025-26 • Impact of Rs 8.08 crs on account of New labor code for Gratuity 11.41% & Leave encashment 116.09 Q3 FY25 vs Q3 FY26 104.20 06.08% Q2 FY26 vs Q3 FY26 • Tax rate in current quarter is lower l vis a 14.18% vis previous quarters due
Slide 16: Key Indicators 9M 2025-26 v/s 9M 2024-25
Key Indicators 9M 2025‐26 v/s 9M 2024‐25 Rs. in Cr. Indicators 9M 2024‐25 2024 25 9M 2025‐26 2025 26 Change Status Key Aspects: Revenue from Operation 2459.11 2705.76 246.65 • Revenue is higher by 10.03% due to Other Income 14.32 30.95 16.63 increase in volume and Start of Material Cost 72 28% 7
Slide 17: Key Indicators Q3 FY 2025-26 v/s Q3 FY 2024-25
Key Indicators Q3 FY 2025‐26 v/s Q3 FY 2024‐25 Rs. in Cr. Indicators Q3 FY 2024‐25 Q3 FY 2025‐26 Change Status Key Aspects: Revenue from Operation 820.98 947.68 126.70 • Revenue is higher by 15.43% in Q3 Other Income 4.79 5.75 0.97 from corresponding quarter of last Material Cost 72 72% 72.72% 7
Slide 18: Key Indicators Q3 FY 2025-26 v/s Q2 FY 2025-26
Key Indicators Q3 FY 2025‐26 v/s Q2 FY 2025‐26 Rs. in Cr. Indicators Q2 FY 2025 2025‐26 26 Q3 FY 2025 2025‐26 26 Change Status Key Aspects: Revenue from Operation 879.83 947.68 67.85 • Revenue is higher by 7.71% in Q3 Other Income 19.51 5.75 -13.76 from previous quarter. Material Cost 73 08% 73.
Slide 19: Way Forward
WAY FORWARD Company Growth h aligned l d Business Expansion in CV To Realize l b business Market and to Industry Growth in all Segment opportunities Green Revenue segments (Bus, rail, Truck) Mobility ( EV, SHEV, CNG etc) Potential • Karsanpura Plant Expansion for for localisation of E Compressor and
Slide 20: Thank You
Th k You Thank Y Cooling the Planet