Subros, an automotive air-conditioning solutions provider, secured a ₹52.18 crore order from Indian Railways for a comprehensive annual maintenance contract of cab HVAC units, the company said in its regulatory filing on Thursday, December 04.
The company is already a trusted supplier of Rail Driver Cabin and Coach Air-Conditioning Systems to Indian Railways. With this new business, Subros has now expanded into service contracts in addition to supplying air-conditioning systems to Indian Railways.
This latest order takes the company’s cumulative order booking in the current financial year for the Railways segment to ₹86.35 crore, covering both supplies and maintenance.
The company further stated that the order is to be executed over three years. It also clarified that neither the promoter nor the promoter group companies have any interest in the entity that awarded the order and that the contract does not fall under related-party transactions.
For the September-ending quarter (Q2FY26), the company reported revenue of ₹880 crore, compared to ₹828 crore in the same period last year. At the operating level, it posted an EBITDA of ₹88 crore, higher than the ₹82 crore reported in the September 2024 quarter.
The EBITDA margin stood flat at 10%, while net profit rose to ₹41 crore versus ₹36 crore in the corresponding quarter last year.
Looking ahead, the company is focusing on business expansion in the commercial vehicle (CV) segment (bus, rail, truck) and exploring opportunities in green mobility (EV, SHEV, CNG, etc.).
Subros share price trend
The company’s shares have come under significant pressure in recent months due to profit booking following a sustained rally. In the last two months, the stock has declined 21%, a correction that followed a sharp 94% surge over just six months.
Although the stock has retreated sharply from its recent highs, its year-to-date return stands at 41%, positioning it to extend its annual gains for the third consecutive year. Over the last 12 years, the stock has delivered a massive return of 3,100%.
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