Buy Subros Ltd For Target Rs.367 - HDFC Securities
Subros is the largest player in Indian passenger vehicle AC segment with a ~45% market share...
Margin at multi-quarter high
We upgrade Subros to BUY (ADD earlier) as the EBITDA margin surprised at 11.7% (vs 9.5% in FY20), led by higher localisation levels. The m..
* Subros had an exceptional rally for nearly four years (during 2014-2018) after the breakout from a prolonged consolidation phase. The stock prices ..
* Subros is largest manufacturer of Auto air conditioning systems in India. Subros started its operations with a capacity of 15,000 AC units and has grown ..
Operations are back at 75% of pre-COVID level
While Subros reported a weak 1QFY21 (a loss of Rs 240mn), the outlook is encouraging as the company is currently operati..
Stock In News
Buy Subros Ltd 9-12 Months CMP 172.25 Target 199
* Subros reported its Q4FY20 numbers which were in line with our estimates. Its ..
Expect market share gains to continue
* We believe that while Subros will benefit from a recovery in volumes at Maruti Suzuki- its largest customer (which accounts fo..
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