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Q4 FY26

Subros Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management said on revenue, margins and capex.

Price₹729
Market cap₹4.8K Cr
P/E27.8
Updated25 Aug 2026
Read4 min read

What the Q4 FY26 call signalled

3 of 4 strong

RevenueModerate growth
MarginMargins slightly up
CapexCapex planned
Order bookOrder book rising

The short version

Future Growth Expectations for Subros Limited: - Capacity Expansion: - Kharkhoda Phase 1 adding 0.5 million capacity; Phase 2 to add another 0.5 million. Subros aims to maintain and grow its market leadership (40%+ share) in the long term by aligning capacity expansions with OEM growth and new programs.

From Subros's Q4 FY26 earnings-call transcript · updated 25 Aug 2026.

Revenue & Sales Performance

Moderate growth
Future Growth Expectations for Subros Limited: - Capacity Expansion: - Kharkhoda Phase 1 adding 0.5 million capacity; Phase 2 to add another 0.5 million. - Expansion aligned with OEM facility setups across India; greenfield projects to be initiated if new development arises. - Current HVAC capacity: ~2.6 million; hoses and tubes: ~2.3 million; compressors: ~2.2 million; heat exchangers: ~2.4–2.5 million. - Order Book and Ramp-up: - INR 1,200 crores order from Maruti for e-compressors, expected ramp-up from Q3 FY27–28. - Potential of INR 250 crores annual revenue from e-compressor at peak. - Market Share and Strategy: - Over 40% market share in current business; commitment to maintain leadership long-term. - Growth driven by hybrid, electric, and CNG vehicle thermal systems (currently 25% of revenue). - Truck AC segment expected revenue growth to INR 325–350 crores, with full-year impact in FY27. - Revenue Growth: - FY26 revenue at INR 3,755 crores, with 11.52% growth. - Expected volume and revenue growth aligned with OEM production capacity increases and new model launches.

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Profitability & Margins

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Capital Expenditure Plans

Capex planned
  • INR 175 crores earmarked for the e-compressor manufacturing facility at Karsanpura, supporting the EV and hybrid ecosystem.
  • INR 150 crores proposed for the Kharkhoda greenfield plant expansion, adding approximately 0.5 million HVAC and hoses & tubes capacity in phase 1, with phase 2 to add another 0.5 million.
  • Routine replacement capex ongoing, aside from these major projects.
  • No significant inflation impact on these capex projects as orders were placed before recent inflation trends.

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Order Book & Pipeline

See what Subros said on order book & pipeline — free account, 30 seconds.

Subros — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

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.

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What Subros Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Subros Q4 FY26 results?

Future Growth Expectations for Subros Limited: - Capacity Expansion: - Kharkhoda Phase 1 adding 0.5 million capacity; Phase 2 to add another 0.5 million. Subros aims to maintain and grow its market leadership (40%+ share) in the long term by aligning capacity expansions with OEM growth and new programs.

What is Subros share price analysis?

Subros currently shows a below-average growth signal. 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 planning capital expenditure?

INR 175 crores earmarked for the e-compressor manufacturing facility at Karsanpura, supporting the EV and hybrid ecosystem.

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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.