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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

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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