Indag Rubber Ltd
₹ 135
-0.85%
22 May
- close price
About
Incorporated in 1978, INDAG Rubber Ltd manufactures and sells Precured Tread Rubber and allied products[1]
Key Points
- Market Cap ₹ 353 Cr.
- Current Price ₹ 135
- High / Low ₹ 308 / 115
- Stock P/E 42.0
- Book Value ₹ 87.6
- Dividend Yield 2.23 %
- ROCE 4.68 %
- ROE 3.69 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 56.5%
Cons
- The company has delivered a poor sales growth of 3.78% over past five years.
- Company has a low return on equity of 5.85% over last 3 years.
- Earnings include an other income of Rs.12.1 Cr.
- Working capital days have increased from 94.0 days to 132 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Plantation & Plantation Products Industry: Miscellaneous
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 232 | 242 | 253 | 184 | 164 | 169 | 187 | 170 | 167 | 244 | 251 | 225 | |
| 195 | 201 | 207 | 154 | 146 | 157 | 171 | 153 | 166 | 230 | 233 | 220 | |
| Operating Profit | 37 | 41 | 46 | 29 | 18 | 12 | 16 | 17 | 1 | 14 | 18 | 4 |
| OPM % | 16% | 17% | 18% | 16% | 11% | 7% | 9% | 10% | 1% | 6% | 7% | 2% |
| 2 | 3 | 5 | 6 | 7 | 5 | 5 | -9 | 6 | 8 | 10 | 12 | |
| Interest | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 3 | 2 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 5 | 6 |
| Profit before tax | 36 | 42 | 48 | 32 | 22 | 14 | 17 | 4 | 3 | 17 | 22 | 10 |
| Tax % | 24% | 22% | 33% | 31% | 27% | 22% | 21% | 22% | 10% | 23% | 23% | 19% |
| 28 | 33 | 32 | 22 | 16 | 11 | 13 | 3 | 3 | 13 | 17 | 8 | |
| EPS in Rs | 10.48 | 12.39 | 12.18 | 8.33 | 6.00 | 4.03 | 5.06 | 1.05 | 0.99 | 5.04 | 6.38 | 3.21 |
| Dividend Payout % | 19% | 19% | 7% | 29% | 40% | 60% | 47% | 228% | 243% | 48% | 47% | 75% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 4% |
| 3 Years: | 10% |
| TTM: | -10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -12% |
| 5 Years: | -9% |
| 3 Years: | 48% |
| TTM: | -50% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -2% |
| 5 Years: | 20% |
| 3 Years: | 26% |
| 1 Year: | -21% |
| Return on Equity | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 5% |
| 3 Years: | 6% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 98 | 123 | 152 | 171 | 181 | 185 | 181 | 192 | 201 | 207 | 222 | 225 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 6 | |
| 30 | 37 | 30 | 31 | 24 | 23 | 24 | 25 | 27 | 33 | 30 | 34 | |
| Total Liabilities | 133 | 165 | 187 | 207 | 210 | 214 | 210 | 222 | 234 | 251 | 263 | 269 |
| 23 | 22 | 28 | 31 | 29 | 27 | 25 | 25 | 45 | 52 | 54 | 50 | |
| CWIP | 4 | 4 | 4 | 0 | 0 | 1 | 10 | 19 | 1 | 0 | 0 | 0 |
| Investments | 40 | 63 | 83 | 93 | 107 | 99 | 82 | 95 | 112 | 113 | 127 | 135 |
| 66 | 75 | 72 | 84 | 74 | 87 | 92 | 83 | 75 | 86 | 82 | 84 | |
| Total Assets | 133 | 165 | 187 | 207 | 210 | 214 | 210 | 222 | 234 | 251 | 263 | 269 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 | 31 | 30 | 9 | 14 | -3 | 8 | 13 | 9 | 10 | 20 | 7 | |
| -17 | -23 | -23 | -0 | -6 | 10 | 2 | -9 | -3 | -2 | -11 | 1 | |
| -6 | -7 | -8 | -8 | -8 | -8 | -12 | -3 | -7 | -7 | -7 | -9 | |
| Net Cash Flow | 2 | 1 | -1 | 1 | 0 | -0 | -1 | 1 | -1 | 1 | 1 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 40 | 51 | 43 | 58 | 64 | 75 | 73 | 63 | 49 | 44 | 37 | 41 |
| Inventory Days | 75 | 71 | 71 | 140 | 111 | 121 | 111 | 122 | 119 | 88 | 85 | 102 |
| Days Payable | 31 | 44 | 26 | 61 | 48 | 46 | 47 | 52 | 51 | 48 | 43 | 48 |
| Cash Conversion Cycle | 85 | 78 | 88 | 137 | 127 | 150 | 137 | 134 | 118 | 84 | 80 | 95 |
| Working Capital Days | 50 | 49 | 56 | 100 | 109 | 132 | 127 | 112 | 103 | 78 | 72 | 132 |
| ROCE % | 39% | 35% | 32% | 19% | 12% | 7% | 9% | 9% | 2% | 8% | 10% | 5% |
Documents
Announcements
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Board Meeting Outcome for Revised Outcome
15h - 46th AGM on Aug 12, 2025; final dividend Rs.1.50/share subject to approval.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
16 May - Annual Secretarial Compliance Report filed for FY 2024-25 as per SEBI regulations.
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Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015
12 May - Received GST interest notice of Rs. 23,487 for delayed FY 2019-20 return filing; no major impact.
- Announcement under Regulation 30 (LODR)-Investor Presentation 9 May
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1 May - Indag Rubber Q4 FY25 revenue ₹57.9 Cr, PAT ₹8.4 Cr FY25; final dividend Rs.1.50/share declared.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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May 2025TranscriptNotesPPT
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Feb 2025TranscriptNotesPPT
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Nov 2024TranscriptNotesPPT
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Business Overview:[1]
Founded in 1978 as a joint venture between the Khemka Group and Bandag Inc. (USA), the company later came under full control of the Khemka Group. It specializes in tyre retreading solutions, offering a cost-effective alternative to new tyres by supplying retreading materials and services across India for M&HCVs, LCVs, passenger vehicles, and off-road vehicles.