Indag Rubber Ltd
₹ 81.8
-2.83%
03 Jun
- close price
About
Incorporated in 1978, INDAG Rubber Ltd manufactures and sells Precured Tread Rubber and allied products[1]
Key Points
- Market Cap ₹ 215 Cr.
- Current Price ₹ 81.8
- High / Low ₹ 150 / 80.0
- Stock P/E 21.1
- Book Value ₹ 88.0
- Dividend Yield 2.94 %
- ROCE 5.00 %
- ROE 4.44 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Stock is trading at 0.93 times its book value
- Company has been maintaining a healthy dividend payout of 61.3%
Cons
- Company has a low return on equity of 4.81% over last 3 years.
- Earnings include an other income of Rs.10.3 Cr.
- Working capital days have increased from 103 days to 155 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.
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 185 | 168 | 173 | 187 | 170 | 167 | 251 | 228 | 215 | |
| 155 | 148 | 158 | 171 | 154 | 167 | 234 | 227 | 206 | |
| Operating Profit | 30 | 21 | 15 | 16 | 16 | 0 | 17 | 2 | 9 |
| OPM % | 16% | 12% | 9% | 9% | 9% | 0% | 7% | 1% | 4% |
| 6 | 7 | 5 | 5 | -9 | 7 | 10 | 12 | 10 | |
| Interest | 1 | 2 | 2 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 3 | 4 | 4 | 4 | 3 | 4 | 5 | 7 | 7 |
| Profit before tax | 32 | 22 | 14 | 17 | 4 | 3 | 20 | 6 | 11 |
| Tax % | 31% | 27% | 22% | 20% | 21% | 18% | 24% | 21% | 28% |
| 22 | 16 | 11 | 14 | 3 | 2 | 16 | 5 | 8 | |
| EPS in Rs | 8.33 | 6.01 | 4.10 | 5.12 | 0.97 | 0.79 | 6.15 | 2.49 | 3.88 |
| Dividend Payout % | 29% | 40% | 59% | 47% | 248% | 304% | 49% | 96% | 39% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | % |
| TTM: | -6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -2% |
| 3 Years: | % |
| TTM: | 57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -8% |
| 5 Years: | -1% |
| 3 Years: | -15% |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 5% |
| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 171 | 182 | 186 | 182 | 192 | 201 | 221 | 222 | 226 |
| 15 | 13 | 12 | 11 | 0 | 0 | 10 | 9 | 18 | |
| 35 | 29 | 27 | 28 | 39 | 27 | 35 | 37 | 57 | |
| Total Liabilities | 226 | 228 | 230 | 226 | 237 | 234 | 271 | 274 | 306 |
| 49 | 46 | 44 | 41 | 25 | 45 | 64 | 60 | 56 | |
| CWIP | 0 | 0 | 1 | 10 | 19 | 1 | 0 | 0 | 0 |
| Investments | 90 | 104 | 96 | 79 | 91 | 112 | 122 | 128 | 139 |
| 87 | 78 | 89 | 95 | 101 | 75 | 85 | 86 | 112 | |
| Total Assets | 226 | 228 | 230 | 226 | 237 | 234 | 271 | 274 | 306 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 8 | 17 | 0 | 10 | 15 | 8 | 18 | 3 | 9 | |
| -15 | -8 | 10 | 3 | -9 | -3 | -11 | 1 | -10 | |
| 9 | -10 | -10 | -15 | -5 | -7 | -4 | -7 | 3 | |
| Net Cash Flow | 2 | -1 | -1 | -2 | 1 | -1 | 3 | -3 | 2 |
| Free Cash Flow | -11 | 15 | -2 | -3 | 3 | 4 | 6 | -0 | 6 |
| CFO/OP | 57% | 112% | 30% | 94% | 113% | 3,600% | 139% | 305% | 145% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 58 | 63 | 73 | 74 | 63 | 49 | 37 | 40 | 38 |
| Inventory Days | 140 | 111 | 121 | 111 | 122 | 119 | 88 | 102 | 170 |
| Days Payable | 62 | 49 | 46 | 48 | 52 | 56 | 45 | 48 | 96 |
| Cash Conversion Cycle | 136 | 125 | 147 | 137 | 134 | 113 | 80 | 94 | 112 |
| Working Capital Days | 93 | 106 | 127 | 126 | 128 | 103 | 71 | 81 | 155 |
| ROCE % | 12% | 8% | 9% | 9% | 1% | 3% | 5% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Jan 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Installed Capacity - Precured Tread Rubber (PTR) MTPA ・Standalone data |
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| Number of Dealers Numbers ・Standalone data |
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| Number of Retreaders Numbers ・Standalone data |
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| Number of Depots Numbers ・Standalone data |
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| Installed Capacity - Un-Vulcanized Rubber Strip Gum MTPA ・Standalone data |
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| Installed Capacity - Universal Spray Cement KLPA ・Standalone data |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
6m - Indag Rubber reported FY26 PAT of ₹12.38 crore, recommended ₹1.5 final dividend, and noted subsidiary’s first BESS order.
- Announcement Under Regulation 30 - Newspaper Publication 1d
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Audited Financial Results
28 May - Audited standalone and consolidated results for quarter and year ended March 31, 2026; no audit qualifications.
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Corporate Action-Board approves Dividend
28 May - Board recommended final dividend of Rs.1.50 per share for FY2025-26, in addition to Rs.0.90 interim dividend.
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Board Meeting Outcome for Outcome Of Board Meeting Held On May 28 2026.
28 May - Board approved FY26 audited results, recommended Rs1.50 final dividend, and approved appointments, reappointment, and subsidiary investment.
Annual reports
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Financial Year 2025
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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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Concalls
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Feb 2026TranscriptAI SummaryPPT
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Nov 2015TranscriptAI SummaryPPT
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Aug 2015TranscriptAI SummaryPPT
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.