Subros Ltd
Subros Q1 FY27 earnings call: Revenue & Margins
Q1 FY27 earnings call: what management said on revenue, margins and capex.
Subros Ltd Q1 FY27 key numbers
- Revenue
- Truck Cabin AC market in India is currently Rs. 600-700 crore; expected to grow to approximately Rs. 800 crore with CV segment growth.
As stated in Subros Ltd's Q1 FY27 earnings call transcript · published 26 Aug 2026. Reported figures, not investment advice.
The short version
Truck Cabin AC market in India is currently Rs. Subros expects growth aligned with industry trends, projecting moderate single-digit growth overall due to current geopolitical uncertainties.
From Subros Ltd's Q1 FY27 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Truck Cabin AC market in India is currently Rs. 600-700 crore; expected to grow to approximately Rs. 800 crore with CV segment growth.
- Subros currently holds ~41% share in Cabin AC for Commercial Vehicles.
- Truck AC segment revenue was Rs. 260 crore in FY 2025-26; expected to reach Rs. 300 crore in FY 2026-27, Rs. 400-450 crore in next 2-3 years.
- Overall company revenue growth expected in line with industry growth (~moderate single-digit growth).
- Non-passenger vehicle business (commercial vehicle AC) grew 77% in the last quarter; bus AC grew 6%.
- Railway segment expected to cross Rs. 100 crore in next 3 years.
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Profitability & Margins
Read what Subros Ltd said on margins in the Q1 FY27 call
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Capital Expenditure Plans
- Kharkhoda Greenfield project: progressing well, construction at advanced stage, machine readiness underway; capacity expansion to support Maruti Suzuki's increased production, with Phase 1 capacity of 4.75 lakh units and Phase 2 totaling 9.5 lakh units.
- New plant planned in West India (Sanand area) to support Maruti's upcoming plant of 1 million units; discussions ongoing for SOP and line installation.
- Greenfield project at Karsanpura, Gujarat: focused on compression manufacturing for EV and hybrid ecosystems and expanding mechanical compressors for ICE engines.
- Signed technology assistance agreement with Denso Corporation Japan and Toyota Industries Corporation Japan for local manufacturing of e-compressors, strengthening electric mobility portfolio.
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Subros Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Railway business is a key focus area with a growing footprint.
- Last year, a large order of approximately Rs. 32 crores was completed.
- In the current year, there is a firm order of around Rs. 31 crores.
- Additionally, there is an Annual Maintenance Contract (AMC) business worth Rs. 50 crores spread over 3-4 years.
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What the Q1 FY27 call signalled
2 of 4 strong
Subros Ltd — Quarterly revenue & net profit
Q1 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q1 FY27 numbers from the filing are in the analysis on this page.
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.1K Cr, net profit ₹49 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Subros Ltd's management said in earlier quarters
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q2 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q4 FY23 earnings call →
- Q3 FY23 earnings call →
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- Shera Energy Ltd (Q1 FY27)
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Frequently Asked Questions
What were Subros Ltd Q1 FY27 results?
Truck Cabin AC market in India is currently Rs. Subros expects growth aligned with industry trends, projecting moderate single-digit growth overall due to current geopolitical uncertainties.
What is Subros Ltd share price analysis?
Subros Ltd currently shows a neutral. The stock trades at a P/E of 27.8 with a market cap of ₹4,783 Cr. Investors should review the full earnings analysis for detailed insights.
Is Subros Ltd planning capital expenditure?
Kharkhoda Greenfield project: progressing well, construction at advanced stage, machine readiness underway; capacity expansion to support Maruti Suzuki's increased production, with Phase 1 capacity of 4.75 lakh units and Phase 2 totaling 9.5 lakh units.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.