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Dolat Capital Report
Subros Ltd. demonstrated strong earnings growth in Q2 FY21 driven by pick up in the passenger vehicle segment and cost control measures.
Ebitda grew 21% YoY to Rs 535 million with expanded margin at 11.7% (up 280 basis points YoY).
Gross margin expanded (up180 basis points YoY) led by better product mix, increased localization and cost control measures.
The management is optimistic of a swift recovery in the passenger vehicle and home AC segment in H2 FY21.
Despite the washout in H1, the company expects the home AC segment to see 15-20% growth in FY21.
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