Subros Ltd (NSE:SUBROS)

Q2 2026 Subros Ltd Earnings Call Transcript

Nov 10, 2025 / 11:30 AM GMT

Release Date Price: ₹1009.9 (-0.23%)

Transcript

Key Points

Positve

Subros Ltd (BOM:517168) achieved a revenue growth of 6.22% in Q2 FY26, outperforming the industry average.
The company reported a 12% improvement in profitability due to consistent cost optimization efforts.
Export performance was strong, with a 23% year-on-year increase, reaching an all-time high of 242,000 units.
The company received a long-awaited incentive from the Gujarat government, contributing positively to other income.
Subros Ltd's business in hybrid cars and the railway segment showed significant growth, with hybrid car thermal products contributing 24% to total revenue.

Negative

The passenger vehicle segment observed a marginal 1.5% year-on-year decline in sales due to inventory correction and high base effect.
There was an impact of commodity price increases during the quarter, affecting margins due to a lag in compensation from customers.
The company's EBITDA margin was lower than the previous year when excluding the impact of Gujarat incentives.
Operating cash flow was negative due to a strategic increase in inventory amidst geopolitical disruptions.
Employee costs increased due to annual salary adjustments, impacting overall margins.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SUBR.NS - Subros Ltd
Q2 2026 Subros Ltd Earnings Call
Nov 10, 2025 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Subaros Limited Q2 FI26 post-result earnings conference call hosted by BNK Securities India Private Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone.

Please note that this conference is being recorded. I now hand the conference over to Mr. Annamalai Jairaj.

Thank you and over to you, sir.

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Unidentified_2 [2]
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