Subros zooms on executing definitive agreement with ZAMIL

Mumbai : Subros is currently trading at Rs. 292.55, up by 10.80 points or 3.83% from its previous closing of Rs. 281.75 on the BSE. The scrip opened at Rs. 285.75 and has touched a high and low of Rs. 294.25 and Rs. 283.70 respectively. So far 2894 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 379.10 on 18-Sep-2018 and a 52 week low of Rs. 206.45 on 28-Jan-2019.

Last one week high and low of the scrip stood at Rs. 306.00 and Rs. 273.20 respectively. The current market cap of the company is Rs. 1919.56 crore. The promoters holding in the company stood at 36.79%, while Institutions and Non-Institutions held 7.13% and 56.09% respectively.

Subros has executed definitive agreement with Zamil Air Conditioners India (ZAMIL) to acquire ZAMIL’s certain assets relating to manufacture of Home Air conditioning systems for total transaction value of Rs 111.50 million. The company has an order book of Rs 900 million from OEM customer(s) for supply of Home Air conditioning units. The execution of the orders will be by using the manufacturing factories of ZAMIL at Nalagarh, District Solan, Himachal Pradesh.

Subros is a leading manufacturer of automotive air conditioning systems and thermal products for automotive applications in India. The company has also been supplying cab mounted HVAC Units to Indian Railways for Driver Cabin application.