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    Subros: Strong performance, available at attractive valuations

    A sharp recovery in demand for passenger vehicles (PV) and commercial vehicles (CVs) coupled with the localisation effort to improve profitability make us upbeat about Subros

    Nitin Agrawal
    February 25, 2021 / 05:29 PM IST
    Subros: Strong performance, available at attractive valuations

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Subros Ltd (CMP: Rs322.4, Mcap: Rs2,096 crore) has posted a strong performance for the quarter ended December 2020. The performance was led by a sharp recovery in the passenger car segment. Its revenues saw a significant growth and operating margin also expanded. A sharp recovery in the demand for passenger vehicles (PV) and commercial vehicle (CV) coupled with the localisation effort to improve profitability make us upbeat about the prospects of the company. Moreover, the company’s new segments — home...

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