May 25, 2025:
Auto component manufacturer Subroz India wants to raise its 20% share of net sales of Rs 908 crores from green mobility to 25%. This is predicated on verified orders from forthcoming EV model launches, such as the Mahindra BEV line, the Maruti Suzuki E-Vitara, and Tata Motors’ exposure to both the ICE and EV markets in heavy commercial vehicles.
“The company continues to place a high priority on green mobility, with hybrid, electric, and CNG vehicle components accounting for about 20% of current revenue. This is anticipated to increase to 25% this year, helped along by new products like Maruti Suzuki’s e-Vitara, which is set to debut in September.” Senior Analysts at Brokerage house Equirus Capital said
Record net sales of Rs 908.46 crore and an increase in profit after tax of Rs 46.20 crore year over year are among the company’s accomplishments. Operating profit was Rs 92.76 crore with an operating profit margin of 10.21%.
Suborz aims to drive a modest increase in content value because electric and hybrid vehicles require battery cooling systems more often than internal combustion engine (ICE) vehicles.
Strong hybrid/EV vehicles will also have a battery cooling element in the engine cooling module, the HVAC system will be used for both battery and cabin cooling, and the hose and pipe requirements will double to eight pipes in EVs (four for battery cooling and four for cabin cooling), while ICE vehicles only need four pipes, according to industry analysts.
According to Equirus, the company’s start of supply for MSIL’s E-Vitara and the continuous increase in M&M’s EV production are anticipated to help SUBR meet its FY26 revenue goal.
The capital expenditure for the purchase of land for the Kharkhoda plant has been completed by Subroz. With the start of production (SOP) planned for Q1 FY27, the construction activity is already under way. The Kharkhoda plant is expected to receive Rs 1.5 billion of the Rs 2.7 billion in capital expenditures that the company anticipates in FY26.
A new plant is being established in Kharkhoda, which will require a capital expenditure of Rs. 1.5 billion, which is expected to be partially financed by debt. As a result of the high demand, Subroz is increasing its capital expenditures from Rs. 1.2 billion in FY25 to Rs. 2.3 billion in FY26.
The company, which specialises in battery cooling systems for electric vehicles and auto AC parts, recently revealed its financial results for the quarter that ended in March 2025.
The company is also betting on greater demand coming from mandatory air conditioning supplies to medium- and heavy-duty commercial vehicle OEMs.
For N2 and N3 trucks, Subroz has secured business for orders totalling Rs 1.5 billion for mandatory truck air conditioning, which are expected to begin to materialise by October 2025.
A 50% share of business (SOB) in this trucking segment is the company’s goal as it enters the ramp-up phase. The truck air conditioning market is expected to grow by 50–60% in FY26, according to other analysts.
Maruti and Tata Motors are the primary clients of Subros Limited, which holds a 40% market share in India and leads the automotive air conditioning systems industry. Denso Japan and the company have a technology partnership. Suzuki Motors Japan owns 13% of the company, while Denso Japan owns 20%.
