Subros Limited has received a major new business award from Maruti Suzuki India Limited (MSIL) for the supply of locally manufactured electric compressors for its upcoming electric hybrid vehicle programs.
The total value of the order is approximately ₹1,280 crore, spread over the lifecycle of various vehicle models for about seven years. The contract has been awarded under the existing basic purchase agreement between Subros and MSIL and covers domestic supplies.
The company said the order marks a strategic milestone in its electric mobility journey and is expected to contribute significantly to its future revenues. It also strengthens Subros’ long-standing relationship with Maruti Suzuki and reinforces its position as a leading automotive thermal systems manufacturer in India.
Subros will undertake localisation of the electric compressor with technical assistance from Denso Corporation and Toyota Industries Corporation of Japan.
The company clarified that promoters and promoter group entities do not have any interest in MSIL. While the transaction falls under related party transactions due to group linkages, it will be executed at arm’s length.
Founded in 1985, Subros is a joint venture between the Suri family of India, Denso Corporation and Suzuki Motor Corporation. It is India’s only fully integrated manufacturer of automotive air-conditioning and thermal products, catering to passenger vehicles, buses, trucks, refrigeration transport and railways.