Subros Limited — PPTs, 30-01-2025: Investor Presentation

**Financial Highlights:** Subros reported Q3 FY 2024-25 revenues of Rs. 820.98 Cr., reflecting a robust growth of 12.08% year-on-year. The EBITDA grew significantly by 21.91% to Rs. 80.64 Cr., while profit before tax (PBT) saw an impressive rise of 34.86% to Rs. 45.80 Cr. Net profit after tax (PAT) also surged by 22.58%, amounting to Rs. 32.84 Cr. Year-to-date (9M FY 2024-25), revenues increased by 9.83% to Rs. 2459.11 Cr., with PAT growth of 55.57%, reflecting strong operational performance.

**Strategic Initiatives and Growth Drivers:** The company is expanding its footprint in the railways and commercial vehicle segments, with new business awards in truck air conditioning. The development of an electric vehicle (EV) business is underway, with the start of production (SOP) planned for Q1 FY 2025-26, indicating a pivot towards new growth opportunities.

**Business Developments:** Noteworthy is the SOP of two new models starting in Q3 and a new project pipeline for Q1 2023-24. This provides a forecast for continued revenue-driving activities ahead.

**Market Position and Competitive Advantage:** Subros holds a strong market share in the automotive air conditioning sector, supported by its backward integration and technical collaboration with Denso Japan, positioning it favorably against competitors.

**Investor Implications:** With solid revenue growth, improved profit margins, and strategic expansions in emerging segments, the outlook for Subros remains positive. Investors should consider the company's proactive approach towards operational efficiency and expansion into EV and new segments as potential growth avenues.