The revenue increased by 15.6% year-on-year to ₹1,050 crore, up from ₹909 crore in the prior year period. EBITDA came in at ₹92.4 crore, marginally lower than ₹92.8 crore for the same quarter last year. The EBITDA margin fell to 8.8% from 10.2% year-on-year.
The company experienced growth in profit before tax (PBT) compared to past periods, aided by cost reduction strategies despite rising material costs and other expenses. Additionally, lower depreciation and finance costs, along with accrued incentive income of ₹15.48 crore, contributed to this performance.
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Profit before tax, excluding exceptional items, increased by 12.24% year-on-year in FY26 to ₹228.37 crore from ₹203.46 crore. The rise is attributed to cost-cutting initiatives, reduced depreciation and finance costs, and accrued incentive income of ₹15.48 crore, despite increased material costs and expenses.
In Q4 FY26, PBT before exceptional items rose to ₹66.69 crore, up from ₹61.83 crore in Q4 FY25 and ₹52.75 crore in Q3 FY26, driven by higher volumes and cost optimization efforts.
Employee costs increased due to annual salary revisions, alongside a one-time charge of ₹8.08 crore related to gratuity and leave encashment under the revised labor code.
EBITDA for FY26 grew by 5.77% to ₹362.93 crore from ₹343.12 crore in FY25. The EBITDA margin was recorded at 9.70%, down from 10.22% the previous year. The growth in EBITDA was bolstered by accrued incentive income of ₹15.48 crore and cost optimization measures, although this was partially negated by negative commodity and currency movements and changes in product mix.
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Revenue across periods rose due to increased volumes and the initiation of production from new business awards. Revenue grew by 11.52% year-on-year, 15.55% in Q4 compared to the same quarter last year, and 10.77% sequentially, thanks to volume growth and the start of new business production.
For FY26 compared to FY25, higher revenue was attributed to increased volumes and new business awards, with other income also rising due to accrued incentive income of ₹15.48 crore.
Material costs increased owing to adverse commodity and currency fluctuations, though this was partially mitigated by cost optimization strategies. Employee costs also rose due to annual wage revisions, along with a one-time impact of ₹8.08 crore related to gratuity and leave encashment following the new labor code.
In Q4 FY26 relative to Q4 FY25, revenue saw an increase attributed to higher volumes and new business production, with other income growing due to positive MTM on currency reinstatement. Material costs remained high due to adverse commodity and currency movements, but were offset by cost optimization and changes in product mix.
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Comparing Q4 FY26 to Q3 FY26, revenue increased from higher volumes, while other income rose due to positive MTM on currency reinstatement at year-end. Material costs persisted at elevated levels due to adverse commodity and currency trends and shifts in product mix, but were counterbalanced by cost optimization initiatives.
The company reported an increase in employee costs stemming from annual salary adjustments, alongside a one-time impact of ₹8.08 crore related to gratuity and leave encashment as per the new labor code.
The board recommended a dividend of ₹3 per equity share of ₹2 each, amounting to 150%, for the year ending March 31, 2026. This dividend is subject to shareholder approval at the upcoming annual general meeting.
The record date for the dividend is scheduled for September 11, 2026, for those whose names are registered as of the close of business hours.
Subros Ltd shares closed at ₹728.00, a decline of ₹19.40, or 2.60%, on the BSE.
