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Nirmal Bang Report
We attended the analyst meet hosted by Subros Ltd. The management is aiming to increase the market share in passenger vehicle AC segment from 42% to 45% and in the truck segment from 51% to 55% in the long term.
Ebitda margin, which declined during Covid and post Covid, is expected to improve to 10% in the short term and to 12% in the long term.
Mandatory installation of AC in N2 and N3 CV segment will boost revenue and help improve margins. Subros could outpace industry growth by 2- 3% on the back of product diversification and increasing market share of SUV and electric vehicle.
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