Subros says business not impacted by coronavirus, banking disruption

Shares of Subros were down 6.85% at Rs 181.50, recovering from a 52-week low of Rs 162 hit in mid-morning trade.

Subros clarified on Thursday (12 March 2020) afternoon that it has been in continuous review of the impact of novel coronavirus on its supplies to its customer so far. The company confirmed that there is no disruption in supply to customers as per plan given by them. Further on banking disruption, there is no impact of such disruptions on the business, it added.

Subros' consolidated net profit dropped 21.9% to Rs 13.35 crore on a 8.8% decline in net sales to Rs 465.61 crore in Q3 December 2019 over Q3 December 2018.

Subros is engaged in providing automotive air conditioning parts and accessories of automotive system. It is a manufacturer of thermal products for automotive applications in India. Its product range spans across auto air-conditioning and engine cooling systems for passenger, as well as commercial vehicles.

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