Subros Ltd Has Posted Standalone Q2FY17 Results

Subros Ltd has posted standalone results for the quarter ended 30^th September 2016. Subros Ltd’s net revenue for the quarter has grown by 35.5 per cent year on year to Rs 437 cr.

Company’s EBITDA has increased by 20.5 per cent year on year to Rs 47 crores and EBITDA margins have declined by 130 bps year on year to 10.7 per cent. This was due to increase in cost of materials by 47 per cent year on year.

However, company’s net profit has declined by 29.5 per cent year on year to Rs.43 crores. Company has witnessed a fall in profits driven by exceptional items of Rs 12.53 crores, which was partially offset by a tax benefit of Rs 1.58 crores.

Subros Ltd
Standalone Results Q2FY17: (Rs. in crore)
	Q2FY17	YoY (%)
Revenue	437.45	35.5
EDITDA	46.84	20.5
EBITDA Margin (%)	10.7	-132
Net Profit (adjusted)	4.3	-29.5
***EBITDA margin change is bps

Subros Limited, founded in 1985 as a joint venture public limited company with 40 per cent ownership by Suri family of India and 13 per cent ownership by Denso Corporation & Suzuki Motor Corporation each, is the leading manufacturer of thermal products for the automotive applications in India, in technical collaboration with Denso.

Subros has manufacturing plants at Noida (2 nos.), Manesar, Pune, Chennai as well as Sanand with an annual capacity of 1.5 Million AC Kits per annum beside a well equipped research and development Center and Tool Room at Noida.

In the meantime Subros share price is trading at Rs 169.65, up by 2.08 per cent or 3.45 points. The share price opened at Rs 166.25 from a previous closing of Rs 166.20. The intraday high and the intraday low of the share are Rs 173.35 and Rs 165.75 respectively.