The company is likely to sustain its higher market share in automotive AC components
The consumer preference for SUVs will continue to be a growth trigger for Subros as the PV segment is key to the company
With the outlook for commercial vehicles remaining positive, Subros, Amber, SRF, and Navin Flurine will be gainers
Subros's new order from the Indian Railways is for the supply and commissioning of coach roof mounted air-conditioners amounting to Rs 25 crore, the company said in its release. The company's stock price touched a 52-week high of Rs 530.
Subros stock has rallied 66 percent so far in 2023. HDFC Securities has a buy call on the stock with a target price of Rs 469.
Subros’s fortunes are directly linked to the PV industry. Demand momentum is likely to continue as people prefer personal transport to public transport. A wider adoption of EVs is also expected to augur well for Subros.
Subros is the leading manufacturer of auto air conditioning systems in the country, with a capacity of 1.5 million AC kits per annum.