Subros is currently trading at Rs. 283.60, up by 3.45 points or 1.23% from its previous closing of Rs. 280.15 on the BSE.
The scrip opened at Rs. 277.45 and has touched a high and low of Rs. 285.05 and Rs. 275.00 respectively. So far 431 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 442.00 on 12-Jan-2018 and a 52 week low of Rs. 213.00 on 28-Aug-2017.
Last one week high and low of the scrip stood at Rs. 287.05 and Rs. 271.50 respectively. The current market cap of the company is Rs. 1655.39 crore.
The promoters holding in the company stood at 40.01%, while Institutions and Non-Institutions held 7.26% and 52.74% respectively.
Subros is emphasizing on improving localisation level strongly, in pursuit of improving financial performance of the company and enhance the competitiveness in the industry. This effort will de-risk the company from the foreign exchange fluctuations and also improve EBIDTA margins.
To execute this approach, Subros has influenced one of its key supplier for localisation of blower motors in India through a joint venture between the supplier and leading motor manufacturer of Japan, Yamamoto Electric Company, Japan. This JV is already executed and start of production would be in October, 2019.
This localized sourcing will reduce import content by around 20% of the total import by the company and help reduction of material cost and improve EBIDTA margins.
Subros is a leading manufacturer of automotive air conditioning systems and thermal products for automotive applications in India. The company has also been supplying cab mounted HVAC Units to Indian Railways for Driver Cabin application.
