Subros Q2 FY27 Results: Consolidated Net Profit ₹40.64 Crore on Total Income of ₹1,206 Crore
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Reviewed byKeshav SehgalBlacklitt Research
Subros (NSE: SUBROS) reported consolidated total income of ₹1,206.19 crore and profit for the period of ₹44.64 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹1,206.27 crore and standalone profit for the period was ₹44.62 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,206.19 crore, up 34.1% YoY and 16.2% QoQ
- Net profit and EPS: Profit for the period ₹44.64 crore; basic EPS ₹6.85
- Other income: ₹7.25 crore, down 62.8% YoY from ₹19.51 crore
- Tax expense: ₹15.33 crore in the quarter
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,206.27 crore, up 34.1% YoY and 9.7% QoQ
- Net profit and EPS: Profit for the period ₹44.62 crore; basic EPS ₹6.84
- Other income: ₹7.37 crore, down 62.2% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,206 | 899 | +34.1% | 1,038 | +16.2% | |
| Revenue from operations | 1,199 | 880 | +36.2% | 1,032 | +16.1% |
| Other income | 7 | 20 | -62.8% | 6 | +17.1% |
| 41 | 41 | -0.2% | 42 | -2.1% | |
| Profit before tax | 56 | 55 | +2.4% | 56 | +0.4% |
| Finance costs | 0 | n/a | n/a | n/a | n/a |
| Depreciation | 25 | 31 | -19.9% | 29 | -12.7% |
| Tax expense | 15 | 14 | +10.3% | 14 | +7.9% |
| Net profit margin | 3.37% | 4.53% | -1.16 pp | 4.00% | -0.63 pp |
| EPS, basic (₹) | 6.85 | 6.24 | +9.8% | 6.36 | +7.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Income growth is the main feature of the consolidated quarter. Total income rose 34.1% from ₹899.34 crore a year earlier and 16.2% from ₹1,038.30 crore in the previous quarter, while revenue from operations rose 36.2% year on year.
Other income fell to ₹7.25 crore from ₹19.51 crore a year earlier, a 62.8% drop. Other income was 0.6% of total income this quarter, so the year-on-year change in total income came almost entirely from operating revenue.
Tax expense was ₹15.33 crore. The consolidated review report notes that the share of profit of the joint venture, Denso Subros Thermal Engineering Centre India Private Limited, of ₹10 lakh for the quarter rests on interim figures not reviewed by its auditor, and the auditor considers this not material.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,206 | 899 | +34.1% | 1,099 | +9.7% | |
| Revenue from operations | 1,199 | 880 | +36.3% | 1,092 | +9.8% |
| Other income | 7 | 20 | -62.2% | 7 | +0.1% |
| 41 | 41 | +0.1% | 41 | -1.8% | |
| Profit before tax | 56 | n/a | n/a | n/a | n/a |
| Finance costs | 0 | n/a | n/a | n/a | n/a |
| Depreciation | 25 | 31 | -19.9% | 32 | -21.2% |
| Tax expense | 15 | 14 | +10.3% | 14 | +7.9% |
| Net profit margin | 3.37% | 4.51% | -1.15 pp | 3.76% | -0.40 pp |
| EPS, basic (₹) | 6.84 | 6.22 | +10.0% | 6.34 | +7.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone figures follow the same pattern. Total income rose 34.1% year on year to ₹1,206.27 crore, and revenue from operations rose 36.3% to ₹1,198.90 crore.
Standalone profit for the period was ₹44.62 crore, and basic EPS was ₹6.84 against ₹6.22 a year earlier. The company's operations comprise only one segment, thermal products, so no segment split is given.
Depreciation fell to ₹25.13 crore from ₹31.39 crore a year earlier, and finance costs were ₹0.02 crore.
Inference
The filing confirms that the board approved the results on 3 Nov 2026 and that Price Waterhouse Chartered Accountants LLP issued unmodified limited review reports on both sets of results. The paid-up equity share capital is ₹13.05 crore, with a face value of ₹2 per share.
Shradha Suri, Chairperson and Managing Director, signed the results. The filing does not say what drove the growth in revenue from operations, so the reason for the change against the year-ago and previous quarters is not known from this filing.
Filed with BSE on . Reference: Original filing (PDF)
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