Subros gains after winning new order

Subros rose 3.98% to Rs 90.15 at 10:15 IST on BSE after the company said it won a Rs 15 crore order from the Indian Railways.

The announcement was made after market hours yesterday, 15 October 2015.

Meanwhile, the BSE Sensex was down 37.74 points, or 0.14%, to 26,972.40.

On BSE, so far 36,000 shares were traded in the counter, compared with an average volume of 71,052 shares in the past one quarter.

The stock hit a high of Rs 91.95 and a low of Rs 88.60 so far during the day. The stock hit a record high of Rs 102 on 31 July 2015. The stock hit a 52-week low of Rs 51 on 12 June 2015.

The stock had outperformed the market over the past one month till 15 October 2015, rising 10.24% compared with 5.07% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.57% as against Sensex's 4.21% decline.

The small-cap company has an equity capital of Rs 12 crore. Face value per share is Rs 2.

Subros said it received its first major order of approximately Rs 15 crore from the Indian Railways- Diesel Locomotive Works (DLW), Varanasi to supply cab mounted HVAC (heating, ventilation and air conditioning) unit.

The company said it has made efforts for development of the product to meet DLW's requirements and expects business from Indian Railways.

Subros' net profit rose 21.9% to Rs 4.01 crore on 2.4% rise in net sales to Rs 293.71 crore in Q1 June 2014 over Q1 June 2013.

Subros is India's largest and leading automotive air conditioning systems and thermal products for automotive applications. Subros manufactures compressors condensers, heat exchangers and all connecting elements required to complete AC loop and caters to all segments viz. passenger vehicles, buses, trucks, refrigeration transport, & railways.

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