Investor Presentation

SL/BSE/NSE/2026-27 November 3, 2026 The Manager, Dy. General Manager, Listing Department, Department of Corporate Services, National Stock Exchange of India Ltd., BSE LIMITED, ‘Exchange Plaza’ C-1 , Block G, First Floor, P.J. Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai-400 051. Mumbai – 400001. Security ID: SUBROS Security ID: 517168 Dear Sir/Madam, Sub: Investor Presentation on the unaudited financial results for the quarter and half year ended 30th September, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the investor presentation on the unaudited financial results for the quarter and half year ended 30th September 2026. Kindly take the same on your record. Thanking you, Yours faithfully, For SUBROS LIMITED Kamal Samtani Company Secretary SUBROS LIMITED Corporate & Registered Office: LGF, World Trade Centre, Barakhamba Lane, New Delhi 110001 (India). Tel: 23414946-49 I Fax: 01123414945 Website: www.subros.com I CIN: L74899DL1985PLC020134. Financial Results Quarter 2, FY 2026-27 Investor Presentation SAFE HARBOUR This presentation might contain forward looking statements which involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements. The Company undertakes no obligation to update these to reflect the events or circumstances thereof. Secondly, these statements shouldbe understood inconjunction with the risks the companyfaces. Company Profile Established in 1985, Subros is the Largest Air Conditioning & Thermal Products company in India. OUR PRESENCE A Joint Venture company between Indian Promoters-36.79%, Denso-20%, Equity Distribution Suzuki-11.96%, Public-31.25% IntegratedThermal Products manufacturer Business for auto and non auto products Segments for Thermal Car, Bus, Truck, Tractor, Reefer, Railways and products Home AC. Plants 9 Locations (Pan India Presence) Technical Centre 2 Location (Noida) Tool Engineering Centre 1 Location (Noida) IATF 16949:2016; Certifications ERM ISO 31000:2018 ESH ISO 14001:2015, 45001:2018 41% (Passenger Car AC) Market Shares 43% (Truck Aircon/Blower) Revenue from Operation Rs.3756Cr. (2025-26) US$ 425Mn Our Board Ms.Shradha Suri Dr.Jyotsna Suri Mr. ParmodK. Duggal Mr. HisashiTakeuchi Mr. NaohisaKuriyama Mr. Akihiro Deguchi Mr. TsunenobuHori Chairperson & Managing Director Executive Director & CEO Representative of Suzuki Representative of Representative of Alternate Director Director Motor Corporation, Japan DENSO Corporation, Japan DENSO Corporation, Japan Independent Directors Ambassador Deepa Gopalan Ms. SmitaPiyushMankad Mr. Ashok Lavasa(IAS-Retd) Justice ArjanKumar Sikri ( Retd) Mr. Arvind Kapur Mrs. VanajaN. Sarna(IRS-Retd) Wadhwa(IFS-Retd.) Total 12 members3 from Promoter, 3 from Collaborators and 6 Independent SEC Team Ms. Shradha Suri Mr. ParmodK. Duggal Mr. A.K. Parashar Marwah ED & CEO EVP & COO Operations OEC Team Mr. Harish Mr. Rahul Shalya Mr. Kuldeep Mr. Hemant Agarwal Mr. Ajay Agarwal Mr. S.S. Gill Mr. Surender Kumar AVP CQF & Service Sharma CFO & SVP Finance VP SCM VP Finance Narula VP Operations AVP Operations SVP Operations Core Competencies Strong manufacturing & process Backward integrated to enable built- technology infrastructure in quality India’s leading automotive AC company Proven capabilities Infull-system design, validation, manufacturing & supplies Highly reliable & energy- efficientproducts Pan-India presence Cost-effective and high- quality durable solutions Availability of cutting-edge technology through in-house technology development & technical Diversified business into multiple collaboration with Denso Japan segments Financial Results & Highlights Results Analysis - Revenue Results Analysis - EBITDA Results Analysis - PBT/ PAT Financial key Indicators Way Forward Highlights- Financial Performance Q2 2026-27 v/s Q2 2025-26 (Rs. in Cr.) REVENUES 36.27% 1198.90 EBITDA 3.96% 91.47 PBT 59.95 10.02% PAT 44.62 9.93% Q2 2026-27 v/s Q1 2026-27 REVENUES 1198.90 16.16% EBITDA 91.47 5.15% PBT 7.85% 59.95 7.85% PAT 44.62 HY 2026-27 v/s HY 2025-26 REVENUES 26.90% 2231.01 EBITDA 1.58% 178.47 PBT 6.08% 115.55 PAT 86.02 5.86% Business Highlights (Q2 2026-27) Q2 26-27 vs Q2 25-26 Q2 2026-27 Highlights PV Segment Thermal business growth HHiigghheesstte evvereRr eRveevneuenureep orertpeodrftoerdR sf.o1r1 R9s8.. 90 Revenue growth is 36.27% is 19% 7C4r.8 iCnr.Q i2n 2q6u-2a7r,tegrr o4wth is due to increased marketdemand. SOP of Fronx started from Karsanpura plant EBIDTA higher by 3.96% New business award for future program from Revenue growth is 10% in Q4 variouscustomersforHVAC,Compressor,HXetc. Kharkhoda plant (Greenfield project) & PBT growth is 10.02% SOP of 1 New project is in pipeline for EBIDTA growth is 14% Karsanpura plant (expansion) for FDC capacities aQn1d 2el0e2ct3ri-c2C4ompressorexpansionisinprogress. SOPs of 2 New model for ICE vehicle is started in Development in progress of new EV PA PT B g Tr o gw rot wh tis h 9 is.9 23 6% % Q22026-27. business awarded in 2022-23 Financial Statement for the period ended 30.09.2026 Rs. in Lakhs Quarter Ended Six Months Ended Year Ended PARTICULARS 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Net Sales 1,19,374 1,02,747 87,662 2,22,120 1,75,172 3,74,205 Other Operating Income 516 464 321 981 636 1,347 Net Income from Operation 1,19,890 1,03,211 87,983 2,23,101 1,75,808 3,75,552 Other Income 737 619 1,951 1,356 2,520 3,865 Net Revenue 1,20,627 1,03,830 89,934 2,24,457 1,78,328 3,79,417 Raw Material Consumed 91,407 75,815 64,064 167,222 126,894 273,618 Total Material cost % to Net Sales 76.57% 73.79% 73.08% 75.28% 72.44% 73.12% Staff Cost 10,127 10,330 9,110 20,457 18,034 36,411 Staff cost % to Net Sales 8.48% 10.05% 10.39% 9.21% 10.30% 9.73% Other Exp. 9,946 8,986 7,962 18,932 15,832 33,095 Other Exps. % to Net Sales 8.33% 8.75% 9.08% 8.52% 9.04% 8.84% EBIDTA 9,147 8,699 8,798 17,846 17,568 36,293 % to Net Sales 7.66% 8.47% 10.04% 8.03% 10.03% 9.70% Depreciation and Amortisation exp 2,913 2,878 3,139 5,791 6,222 12,493 Depreciation % to Net Sales 2.44% 2.80% 3.58% 2.61% 3.55% 3.34% Interest 239 262 210 501 453 963 Interest cost % to Net Sales 0.20% 0.25% 0.24% 0.23% 0.26% 0.26% Net Profit 5,995 5,559 5,449 11,554 10,893 22,837 % to Net Sales 5.02% 5.41% 6.22% 5.20% 6.22% 6.10% Exceptional Items - - - - - 808 Profit from Ordinary Activities 5,995 5,559 5,449 11,554 10,893 22,029 % to Net Sales 5.02% 5.41% 6.22% 5.20% 6.22% 5.89% (a) Current Tax 1,679 1,629 1,282 3,308 2,971 6,221 (b) Deferred Tax (146) (208) 108 (354) (203) (770) Total Tax 1,533 1,421 1,390 2,954 2,768 5,451 Tax as % to PBT 25.57% 25.55% 25.51% 25.56% 25.41% 24.75% Net Profit after Tax 4,462 4,138 4,059 8,600 8,125 16,578 % to Net Sales 3.74% 4.03% 4.63% 3.87% 4.64% 4.43% Other Comprehensive Income (net of tax) (130) 31 (17) (99) (31) 125 Total Comprehensive Income 4,332 4,169 4,042 8,501 8,094 16,703 % to Net Sales 3.63% 4.06% 4.61% 3.83% 4.62% 4.46% EPS 6.84 6.34 6.22 13.18 12.45 25.40 Revenue Growth Half-year and quarterly comparison All values in INRCrore SNAPSHOT H1’27 vs H1’26 +26.90% Key Points Q2’27vs Q2’26 +36.26% Revenue is higher due to : Q2’27vs Q1’27 +16.16% • Increase in volume 2,231.01 • Customer Provision for increased commodity prices, currency 1,758.08 movement,minimumwages etc. • NewmodelSOPs 1,198.90 1,032.11 879.83 HY 25–26 HY 26–27 Q2 25–26 Q1 26–27 Q2 26–27 EBITDA Half-year and quarterly comparison SNAPSHOT (EBITDA absolute performance) SNAPSHOT ( % of Sales) All values in INRCrore H1’27 vs H1’26 1.58% H1’27 vs H1’26 -2.00% Key Points : H1’27 vs H1’26 Q2’27vs Q2’26 3.98% Q2’27vs Q2’26 -2.38% • The margins remain Q2’27vs Q1’27 5.17% Q2’27vs Q1’27 -0.81% under pressure due to an increase in MSR 178.46 175.68 10.03% 10.04% (2.84%) due to upward commodity and 8.47% currency movements, 8.03% 7.66% productmix 91.47 87.98 • Fo [Showing first 8,000 characters — download PDF for full document]