Indag Rubber Ltd

About [ edit ]

Indag Rubber is engaged in the manufacturing and selling of Precured Tread Rubber and allied products.(Source : 201903 Annual Report Page No: 74)

Key Points [ edit ]
  • Market Cap 256 Cr.
  • Current Price 97.5
  • High / Low 114 / 49.0
  • Stock P/E 16.0
  • Book Value 74.1
  • Dividend Yield 2.46 %
  • ROCE 9.06 %
  • ROE 7.04 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 49.01%

Cons

  • The company has delivered a poor sales growth of -5.04% over past five years.
  • Company has a low return on equity of 7.11% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
44.07 39.12 44.59 43.00 42.02 49.08 51.12 51.18 35.39 25.63 45.89 52.58
38.64 35.02 40.53 40.62 40.64 45.28 46.29 45.45 33.62 26.12 40.87 43.74
Operating Profit 5.43 4.10 4.06 2.38 1.38 3.80 4.83 5.73 1.77 -0.49 5.02 8.84
OPM % 12.32% 10.48% 9.11% 5.53% 3.28% 7.74% 9.45% 11.20% 5.00% -1.91% 10.94% 16.81%
Other Income 2.52 0.79 1.40 1.22 1.65 1.55 1.00 0.64 1.39 0.64 2.24 -12.24
Interest 0.04 0.06 0.08 0.06 0.05 0.06 0.06 0.07 0.06 0.06 0.06 0.08
Depreciation 0.77 0.78 0.81 0.78 0.77 0.96 0.92 0.93 0.94 0.74 0.85 0.88
Profit before tax 7.14 4.05 4.57 2.76 2.21 4.33 4.85 5.37 2.16 -0.65 6.35 -4.36
Tax % 18.77% 28.15% 20.13% 23.55% 13.57% 32.56% 8.87% 23.65% 14.81% 32.31% 24.72% 26.61%
Net Profit 5.80 2.92 3.64 2.10 1.91 2.92 4.42 4.10 1.84 -0.44 4.79 -3.20
EPS in Rs 2.21 1.11 1.39 0.80 0.73 1.11 1.68 1.56 0.70 -0.17 1.82 -1.22

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
76 111 150 216 235 232 242 253 184 164 169 187 159
66 98 134 186 200 195 201 207 154 146 157 171 144
Operating Profit 10 13 16 30 34 37 41 46 29 18 12 16 15
OPM % 13% 12% 11% 14% 15% 16% 17% 18% 16% 11% 7% 9% 9%
Other Income 0 1 0 0 2 2 3 5 6 7 5 5 -8
Interest 1 0 1 1 0 0 0 1 1 0 0 0 0
Depreciation 1 2 2 2 2 3 2 3 3 3 3 4 3
Profit before tax 8 12 14 27 33 36 42 48 32 22 14 17 3
Tax % 1% 3% 21% 23% 24% 24% 22% 33% 31% 27% 22% 21%
Net Profit 8 12 11 21 25 28 33 32 22 16 11 13 3
EPS in Rs 2.90 4.40 4.09 7.94 9.49 10.48 12.39 12.18 8.33 6.00 4.03 5.06 1.13
Dividend Payout % 14% 18% 20% 15% 17% 19% 19% 7% 29% 40% 60% 47%
Compounded Sales Growth
10 Years:5%
5 Years:-5%
3 Years:1%
TTM:-18%
Compounded Profit Growth
10 Years:1%
5 Years:-16%
3 Years:-15%
TTM:20%
Stock Price CAGR
10 Years:17%
5 Years:-11%
3 Years:-16%
1 Year:91%
Return on Equity
10 Years:17%
5 Years:11%
3 Years:7%
Last Year:7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 22 31 39 56 76 98 123 152 171 181 185 181 189
Borrowings 0 7 7 1 0 0 0 0 0 0 0 0 0
10 18 18 24 29 30 37 30 31 24 23 24 25
Total Liabilities 38 61 69 87 111 133 165 187 207 210 214 210 220
14 18 21 24 23 23 22 28 31 29 27 25 26
CWIP 1 1 1 0 0 4 4 4 0 0 1 10 13
Investments 0 0 0 0 27 40 63 83 93 107 99 82 100
23 41 47 62 60 66 75 72 84 74 87 92 80
Total Assets 38 61 69 87 111 133 165 187 207 210 214 210 220

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
12 1 8 16 32 25 31 30 9 14 -3 8
-3 -6 -5 -6 -27 -17 -23 -23 -0 -6 10 2
-10 5 -3 -9 -6 -6 -7 -8 -8 -8 -8 -12
Net Cash Flow -1 0 0 0 -0 2 1 -1 1 0 -0 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 33% 35% 31% 49% 45% 39% 35% 32% 19% 12% 7% 9%
Debtor Days 32 42 36 36 33 40 51 43 58 64 75 73
Inventory Turnover 4.44 4.94 4.92 5.48 5.19 5.03 5.19 5.23 3.18 3.00 3.36 3.35

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.76 74.76 74.76 73.36 73.36 73.36 73.36 73.36 73.36 73.36 73.34 73.34
0.64 0.77 1.10 1.48 1.83 1.94 1.97 2.27 2.48 2.48 2.48 2.48
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.38 0.47 0.58
24.61 24.47 24.15 25.16 24.81 24.70 24.67 24.37 24.16 23.77 23.70 23.60

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