Subros Reports 16% Revenue Growth, Net Profit Up 7.6% In Q4 FY26

Mumbai: Subros Limited reported higher standalone revenue and profit for the fourth quarter of FY26, supported by improved demand for thermal products used in the automotive sector. Revenue from operations rose 16 percent year-on-year to Rs 1,050 crore in Q4 FY26 from Rs 908 crore in the corresponding quarter last year.

Net profit increased 7.6 percent to Rs 49.7 crore from Rs 46.2 crore a year earlier. Profit before tax stood at Rs 66.7 crore compared with Rs 61.8 crore in Q4 FY25.

Sequential And Annual Growth

On a quarter-on-quarter basis, revenue increased 11 percent from Rs 948 crore in Q3 FY26, while net profit rose 43 percent from Rs 34.8 crore. Total expenses during the quarter climbed to Rs 991 crore from Rs 901 crore in the previous quarter due to higher raw material and employee costs.

Employee benefit expenses increased to Rs 93.9 crore in Q4 FY26 from Rs 89.8 crore in Q3 FY26. Finance costs declined to Rs 2.3 crore from Rs 2.8 crore sequentially. The company had recognised an exceptional labour code impact of Rs 8.1 crore during FY26, which reduced annual profitability.

What Drove The Numbers?

Subros said its operations continue to comprise a single segment — thermal products. The company also received income from the Gujarat Incentive to Industries Scheme, with government grant income standing at Rs 14.8 crore for FY26.

The exceptional labour code impact mainly included gratuity and leave encashment costs arising from changes in wage definitions under newly notified labour regulations. Basic earnings per share for Q4 FY26 stood at Rs 7.60 compared with Rs 7.08 in the year-ago quarter.

Full-Year Performance

For the full financial year FY26, revenue from operations rose 12 percent to Rs 3,756 crore from Rs 3,368 crore in FY25. Annual net profit increased 10 percent to Rs 166 crore compared with Rs 150 crore in the previous year. Profit before tax stood at Rs 220 crore against Rs 203 crore in FY25.

The board recommended a final dividend of Rs 3 per equity share for FY26, subject to shareholder approval at the upcoming annual general meeting.

Disclaimer: This report is based on audited financial results filed by the company and does not constitute investment advice.