Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Subros
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 748 | 693 | 813 | 732 | 832 | 810 | 828 | 821 | 908 | 878 | 880 | 948 | 1,050 |
| Expenses + | 697 | 646 | 743 | 673 | 755 | 733 | 752 | 745 | 816 | 796 | 811 | 866 | 958 |
| Operating Profit | 51 | 47 | 70 | 60 | 77 | 77 | 76 | 76 | 93 | 82 | 68 | 81 | 92 |
| OPM % | 7% | 7% | 9% | 8% | 9% | 10% | 9% | 9% | 10% | 9% | 8% | 9% | 9% |
| Other Income + | 6 | 2 | 3 | 7 | 4 | 3 | 6 | 5 | 6 | 6 | 20 | -2 | 8 |
| Interest | 2 | 2 | 3 | 4 | 4 | 3 | 2 | 3 | 3 | 2 | 2 | 3 | 2 |
| Depreciation | 28 | 27 | 29 | 28 | 32 | 31 | 32 | 32 | 34 | 31 | 31 | 32 | 31 |
| Profit before tax | 26 | 20 | 42 | 34 | 45 | 47 | 49 | 46 | 62 | 55 | 55 | 45 | 66 |
| Tax % | 31% | 32% | 36% | 21% | 32% | 26% | 25% | 28% | 25% | 25% | 25% | 22% | 26% |
| Net Profit + | 18 | 14 | 27 | 27 | 30 | 35 | 36 | 33 | 46 | 41 | 41 | 35 | 49 |
| EPS in Rs | 2.80 | 2.08 | 4.10 | 4.12 | 4.66 | 5.36 | 5.58 | 5.05 | 7.08 | 6.26 | 6.25 | 5.33 | 7.56 |
Financials of Subros
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,192 | 1,298 | 1,535 | 1,913 | 2,124 | 1,993 | 1,796 | 2,239 | 2,806 | 3,071 | 3,368 | 3,756 |
| Expenses + | 1,055 | 1,146 | 1,367 | 1,703 | 1,896 | 1,804 | 1,642 | 2,089 | 2,638 | 2,815 | 3,045 | 3,431 |
| Operating Profit | 137 | 152 | 168 | 210 | 229 | 189 | 154 | 149 | 168 | 255 | 323 | 324 |
| OPM % | 11% | 12% | 11% | 11% | 11% | 9% | 9% | 7% | 6% | 8% | 10% | 9% |
| Other Income + | 1 | 2 | -24 | 6 | 6 | 62 | 11 | 9 | 20 | 14 | 20 | 30 |
| Interest | 39 | 42 | 48 | 41 | 42 | 36 | 16 | 11 | 7 | 12 | 11 | 10 |
| Depreciation | 79 | 87 | 88 | 92 | 79 | 90 | 92 | 102 | 110 | 117 | 128 | 125 |
| Profit before tax | 20 | 26 | 8 | 82 | 114 | 124 | 56 | 45 | 71 | 141 | 204 | 220 |
| Tax % | 0% | 9% | -63% | 26% | 33% | 32% | 16% | 28% | 32% | 31% | 26% | 25% |
| Net Profit + | 20 | 24 | 13 | 61 | 76 | 85 | 47 | 32 | 48 | 98 | 151 | 166 |
| EPS in Rs | 3.34 | 3.99 | 2.20 | 10.10 | 11.69 | 13.00 | 7.26 | 4.98 | 7.35 | 14.96 | 23.08 | 25.39 |
| Dividend Payout % | 21% | 20% | 23% | 11% | 11% | 6% | 10% | 14% | 14% | 12% | 11% | 12% |
Financials of Subros
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 305 | 323 | 335 | 392 | 667 | 739 | 782 | 811 | 854 | 943 | 1,081 | 1,231 |
| Borrowings + | 420 | 390 | 404 | 385 | 244 | 155 | 52 | 33 | 19 | 35 | 41 | 30 |
| Other Liabilities + | 236 | 276 | 373 | 508 | 456 | 482 | 602 | 648 | 657 | 661 | 724 | 860 |
| Total Liabilities | 973 | 1,001 | 1,125 | 1,297 | 1,380 | 1,388 | 1,449 | 1,505 | 1,543 | 1,651 | 1,859 | 2,134 |
| Fixed Assets + | 537 | 563 | 497 | 670 | 690 | 765 | 745 | 726 | 723 | 745 | 719 | 756 |
| CWIP | 88 | 54 | 149 | 90 | 86 | 66 | 54 | 61 | 86 | 80 | 79 | 53 |
| Investments | 0 | 0 | 1 | 2 | 2 | 1 | 5 | 5 | 25 | 5 | 116 | 143 |
| Other Assets + | 348 | 384 | 477 | 536 | 603 | 555 | 646 | 712 | 709 | 821 | 945 | 1,182 |
| Total Assets | 973 | 1,001 | 1,125 | 1,297 | 1,380 | 1,388 | 1,449 | 1,505 | 1,543 | 1,651 | 1,859 | 2,134 |
Financials of Subros
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 141 | 151 | 111 | 315 | 100 | 239 | 154 | 151 | 141 | 166 | 175 | 105 |
| Cash from Investing Activity + | -94 | -69 | -75 | -231 | -126 | -93 | -58 | -100 | -145 | -92 | -165 | -137 |
| Cash from Financing Activity + | -48 | -82 | -35 | -72 | 17 | -148 | -68 | -53 | 4 | -65 | -13 | 7 |
| Net Cash Flow | -1 | -0 | 1 | 13 | -8 | -3 | 28 | -1 | -1 | 8 | -3 | -25 |
| Free Cash Flow | 47 | 82 | 33 | 84 | -26 | 141 | 92 | 45 | 31 | 47 | 58 | -42 |
| CFO/OP | 106% | 103% | 67% | 157% | 54% | 138% | 108% | 107% | 90% | 75% | 72% | 55% |
Financials of Subros
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 24 | 28 | 31 | 31 | 29 | 35 | 42 | 37 | 27 | 34 | 49 | 56 |
| Inventory Days | 78 | 73 | 70 | 66 | 61 | 61 | 80 | 70 | 57 | 60 | 56 | 60 |
| Days Payable | 49 | 54 | 82 | 112 | 96 | 100 | 130 | 107 | 83 | 81 | 84 | 82 |
| Cash Conversion Cycle | 52 | 47 | 19 | -16 | -6 | -4 | -9 | -1 | 2 | 13 | 21 | 34 |
| Working Capital Days | -36 | -33 | -47 | -52 | -29 | -23 | -16 | -9 | -6 | 7 | 17 | 42 |
| ROCE % | 8% | 9% | 12% | 16% | 19% | 13% | 8% | 7% | 9% | 16% | 20% | 20% |
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