Expect Subros to test Rs 125: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "The problem in Subros is the margin expansion or rather that maybe the case with all auto ancillaries because when they cater to the larger players, Maruti and all othre companies, they cannot dictate the terms, they cannot have the margins. There are very few players those who have that margin advantage because of their technology edge. So, they are all going for the volume increase because we have been seeing increase in the volume and the original equipment manufacturers (OEM) have not seen any new suppliers. They keep buying from them only and the growth is nicely and rightly enjoyed by these auto ancillaries.""So, still keep a view, but do not expect the similar kind of returns, but maybe Rs 125 can be expected from the stock in the next one year. But, not that fabulous returns which we have seen in the past," he said.