Subros Ltd. hit a record high today after the company said it started supplying blowers and optional air conditioning components to commercial vehicle clients.
It has tied up with CV players like Ashok Leyland, Mazda and M&M trucking division for the supply of the air conditioner and expects annual sales of Rs 150-175 crore from the financial year 2018-19 from this segment, Pramod Duggal, vice-president of Subros told Bloomberg Quint in an interview.
Subros is currently operating at an 85 percent capacity utilisation and has sufficient capacity to service new orders, he added.
A 10-15 percent growth in the passenger vehicles segment coupled with additional revenue from the commercial vehicles segment, could result in a healthy upswing in FY19 revenue, Duggal said. The company's FY17 sales stood at Rs 1,550 crore.
Subros manufactures compressors, condensers, heat exchangers and all connecting elements required to complete the AC loop and caters to all segments – passenger vehicles, buses and trucks.
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