Subros Secures Rs. 1280 Crore Electric Compressor Deal with MSIL
Filing Summary
Subros Limited has been awarded a contract valued at approximately Rs. 1280 Crores by Maruti Suzuki India Limited (MSIL) for the supply of local Electric Compressors. This contract pertains to MSIL’s upcoming electric and hybrid vehicle programs and spans a period of about seven years. The agreement is part of an existing Basic Purchase Agreement with MSIL. Subros will execute the localization of the Electric Compressor with technical assistance from DENSO Corporation and Toyota Industries Corporation, Japan.
Subros Limited has confirmed the receipt of a new business award from Maruti Suzuki India Limited (MSIL) for the supply of local Electric Compressors. The contract is valued at approximately Rs. 1280 Crores and is intended for MSIL’s forthcoming electric and hybrid vehicle programs. The duration of the contract is approximately seven years, commencing from the respective start of production of various models.
The contract falls under the terms of an existing Basic Purchase Agreement with MSIL. The order is classified as a domestic contract, and the supply will be executed at arm’s length. Subros will undertake the localization of the Electric Compressor with technical assistance from DENSO Corporation and Toyota Industries Corporation, Japan.
Subros Limited, established in 1985, is a joint venture with the Suri family of India, DENSO Corporation, and Suzuki Motor Corporation, Japan. The company is a leading manufacturer of thermal products for automotive applications in India. It operates the only integrated manufacturing unit in India for Auto Air Conditioning systems and Thermal Products. Subros manufactures compressors, condensers, heat exchangers, and all connecting elements required to complete AC loops, catering to segments such as Passenger Vehicles, Buses, Trucks, Refrigeration Transport, and Railways.