Subros reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a Board meeting held on May 18, 2026. The company recorded its highest ever standalone revenue from operations at ₹3,75,552 lakhs for the full year, compared to ₹3,36,757 lakhs in the previous year, reflecting a 12% year-on-year growth. On a quarterly basis, Q4 FY26 standalone revenue from operations stood at ₹1,04,976 lakhs, up from ₹90,846 lakhs in Q4 FY25, representing a 16% year-on-year increase, driven by increased volumes and commencement of production for new business awards including electric compressors and HVAC systems. The audio recording of the Investor Conference Call held on May 19, 2026, discussing these audited financial results has been uploaded on the company's website.

Q4 and Full-Year Standalone Financial Performance

The following table presents Subros's key standalone financial metrics for Q4 and the full year on a year-on-year basis:

Standalone net profit for Q4 FY26 rose to ₹4,969 lakhs from ₹4,620 lakhs year-on-year, reflecting an 8% growth. For the full year FY26, standalone net profit increased to ₹16,578 lakhs from ₹15,040 lakhs in FY25, a 10% year-on-year improvement. Profit before tax (before exceptional items) grew 8% in Q4 and 12% for the full year. Total standalone expenses for the year stood at ₹3,56,580 lakhs versus ₹3,18,489 lakhs in the prior year, with cost of materials consumed being the largest component at ₹2,75,217 lakhs.

Exceptional Item: Impact of Labour Codes

During the year, the Government of India notified four Labour Codes consolidating 29 existing labour laws. Following the publication of Central Rules by the Ministry of Labour and Employment, the company assessed the incremental financial impact and recognised it as an exceptional item of ₹808 lakhs in the standalone results for the year ended March 31, 2026. This exceptional charge comprises gratuity of ₹691 lakhs and leave encashment of ₹117 lakhs, primarily arising from a change in wage definition. The company has characterised this as a regulatory-driven, non-recurring item and will continue to monitor further developments under the Labour Codes.

Consolidated Financial Highlights

The consolidated financial results include Subros Limited and its joint venture, Denso Subros Thermal Engineering Centre India Private Limited. The consolidated figures closely mirror the standalone results given the single-segment nature of operations.

The consolidated results include the company's share of net profit after tax of ₹5 lakhs and total comprehensive income of ₹8 lakhs for the year ended March 31, 2026 from the joint venture.

Balance Sheet and Cash Flow Summary

As on March 31, 2026, standalone total assets stood at ₹2,13,403 lakhs compared to ₹1,85,842 lakhs a year earlier. Total equity increased to ₹1,24,400 lakhs from ₹1,09,393 lakhs. On the cash flow front, net cash inflow from standalone operating activities was ₹10,533 lakhs for the year ended March 31, 2026, compared to ₹17,483 lakhs in the previous year. Cash and cash equivalents at the end of the year stood at ₹1,177 lakhs, down from ₹3,636 lakhs at the start of the year, reflecting higher capital expenditure of ₹14,957 lakhs towards property, plant and equipment, intangible assets, and capital work-in-progress.

Dividend, AGM, and Corporate Governance

The Board of Directors has recommended a final dividend of ₹3.00 per equity share (150% on face value of ₹2 each) for the year ended March 31, 2026, subject to shareholder approval at the ensuing Annual General Meeting. The AGM has been scheduled for September 18, 2026, with the register of members and share transfer books remaining closed from September 12, 2026 to September 18, 2026. The record date for dividend entitlement has been set as September 11, 2026. Additionally, the Board approved the continuation of directorship of Dr. Jyotsna Suri as Non-Executive Director upon her attaining the age of seventy-five years, subject to shareholder approval. The statutory auditors, Price Waterhouse Chartered Accountants LLP, have issued audit reports with an unmodified opinion on both the standalone and consolidated financial results for the year ended March 31, 2026.

Subros Limited has intimated the schedule for an upcoming Investors Conference to the stock exchanges. The meeting is scheduled to take place on Wednesday, May 27, 2026, at Hotel Grand Hyatt in Mumbai. The conference will be conducted in person, with participation modes including one-on-one and group interactions.

Conference Details

The event is the 16th Annual Global Investor Conference-Trinity India, 2026. Several funds organized by 360 ONE Capital Market Pvt. Ltd are expected to participate in the conference. The company stated that the schedule is subject to changes due to exigencies on the part of the investors or the company.

Key Information

Subros Limited clarified that no unpublished price sensitive information pertaining to the company will be shared during the conference. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.