Subros shares surge 10% after securing Rs 1,225 crore HVAC supply order from Maruti Suzuki

Subros shares surged as much as 10% to hit an intraday high of Rs 678.80 during Wednesday’s trading session after the company announced a new business award from Maruti Suzuki India Ltd. (MSIL) for the supply of heating, ventilation and air conditioning (HVAC) assemblies. The order is valued at approximately Rs 1,225 crore over the model’s total lifecycle of around seven years.

In an exchange filing, Subros said the contract involves supplying HVAC assemblies for the YM3 and YU0 models of Maruti Suzuki. The order will be executed over approximately seven years, beginning with the respective start of production in line with the customer’s milestones.

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The company said the new business award is expected to strengthen its presence and support business growth in the western region. It will also reinforce Subros’ longstanding relationship with Maruti Suzuki and its position as a leading automotive thermal systems manufacturer in India.

The contract has been awarded by a domestic entity under the existing Basic Purchase Agreement with Maruti Suzuki. Subros clarified that its promoters, promoter group and group companies have no interest in the awarding entity.

The company also disclosed that the contract falls under related-party transaction provisions but will be executed on an arm’s-length basis.

Subros Share Price and Technical Indicators

Despite Wednesday’s rally, Subros shares have declined around 45% over the past year. The company currently has a market capitalisation of Rs 4,227 crore, while its 52-week high stands at Rs 1,161.According to Trendlyne technical data, the stock is trading below seven of its eight simple moving averages (SMAs).

The September 2026 quarter shareholding data shows that foreign institutional investors (FIIs) marginally increased their stake in Subros to 32.70% from 32.68% in the previous quarter. Meanwhile, mutual funds reduced their holding to 10.59% from 10.70% during the same period.

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