Tinna Rubber & Infrastructure Ltd
Tina Rubber & Infrastructure Ltd is primarily engaged in conversion of End of life tyres (ELT) into crumb rubber and steel wires obtained in the process.[1]
- Market Cap ₹ 1,097 Cr.
- Current Price ₹ 608
- High / Low ₹ 1,097 / 527
- Stock P/E 23.0
- Book Value ₹ 147
- Dividend Yield 0.66 %
- ROCE 25.9 %
- ROE 27.7 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 67.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.3%
- Company has been maintaining a healthy dividend payout of 19.6%
- Company's median sales growth is 26.1% of last 10 years
Cons
- Promoter holding has decreased over last 3 years: -6.23%
* 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
Industrials Capital Goods Industrial Products Rubber
Part of BSE Allcap BSE Industrials
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 93 | 94 | 100 | 69 | 100 | 130 | 123 | 130 | 229 | 295 | 364 | 505 | 508 | |
| 82 | 74 | 83 | 67 | 90 | 114 | 113 | 112 | 192 | 258 | 302 | 432 | 427 | |
| Operating Profit | 11 | 20 | 16 | 2 | 10 | 16 | 10 | 18 | 37 | 37 | 62 | 73 | 80 |
| OPM % | 12% | 21% | 16% | 3% | 10% | 12% | 8% | 14% | 16% | 13% | 17% | 14% | 16% |
| 20 | 1 | 1 | 2 | 1 | 3 | 2 | 2 | 3 | 6 | 1 | 3 | 3 | |
| Interest | 4 | 6 | 9 | 11 | 10 | 11 | 10 | 10 | 9 | 8 | 7 | 11 | 10 |
| Depreciation | 4 | 5 | 5 | 7 | 7 | 7 | 8 | 8 | 9 | 7 | 6 | 8 | 10 |
| Profit before tax | 23 | 10 | 3 | -14 | -6 | 0 | -5 | 2 | 23 | 28 | 50 | 57 | 63 |
| Tax % | 7% | 28% | 43% | -32% | -16% | 147% | -29% | 29% | 26% | 25% | 25% | 25% | |
| 22 | 7 | 2 | -10 | -5 | -0 | -4 | 1 | 17 | 21 | 38 | 42 | 47 | |
| EPS in Rs | 12.73 | 4.11 | 0.97 | -5.56 | -2.88 | -0.09 | -2.27 | 0.65 | 9.84 | 12.43 | 22.12 | 24.68 | 26.22 |
| Dividend Payout % | 4% | 24% | 26% | 0% | 0% | 0% | 0% | 0% | 20% | 20% | 23% | 16% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 33% |
| 3 Years: | 30% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 68% |
| 3 Years: | 35% |
| TTM: | 4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 41% |
| 5 Years: | 101% |
| 3 Years: | 46% |
| 1 Year: | -40% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 24% |
| 3 Years: | 28% |
| Last Year: | 28% |
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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 17 | 17 | 18 |
| Reserves | 56 | 61 | 62 | 52 | 64 | 64 | 60 | 62 | 72 | 90 | 111 | 155 | 247 |
| 41 | 60 | 87 | 94 | 83 | 78 | 72 | 66 | 71 | 60 | 85 | 134 | 103 | |
| 24 | 26 | 24 | 23 | 27 | 26 | 30 | 36 | 41 | 37 | 54 | 69 | 77 | |
| Total Liabilities | 130 | 156 | 182 | 177 | 182 | 177 | 170 | 173 | 192 | 196 | 267 | 375 | 445 |
| 44 | 57 | 64 | 82 | 77 | 82 | 77 | 77 | 77 | 74 | 118 | 171 | 181 | |
| CWIP | 13 | 8 | 10 | 2 | 3 | 1 | 3 | 0 | 1 | 0 | 6 | 10 | 24 |
| Investments | 18 | 23 | 23 | 16 | 28 | 27 | 27 | 27 | 29 | 31 | 45 | 49 | 46 |
| 55 | 67 | 85 | 77 | 74 | 67 | 63 | 69 | 85 | 90 | 98 | 144 | 194 | |
| Total Assets | 130 | 156 | 182 | 177 | 182 | 177 | 170 | 173 | 192 | 196 | 267 | 375 | 445 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 10 | -2 | 7 | 15 | 20 | 17 | 21 | 19 | 32 | 59 | 32 | |
| -10 | -23 | -16 | -1 | 4 | -4 | -2 | -5 | -12 | -10 | -70 | -64 | |
| 5 | 14 | 18 | -5 | -19 | -16 | -15 | -15 | -6 | -21 | 10 | 34 | |
| Net Cash Flow | -2 | 0 | -0 | 0 | -0 | 0 | 0 | 0 | 1 | 1 | -1 | 2 |
| Free Cash Flow | -15 | -9 | -19 | -0 | 12 | 15 | 14 | 15 | 8 | 24 | -6 | -31 |
| CFO/OP | 21% | 57% | 11% | 386% | 163% | 127% | 180% | 117% | 51% | 102% | 113% | 62% |
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 | 61 | 46 | 45 | 100 | 100 | 66 | 68 | 70 | 52 | 40 | 31 | 29 |
| Inventory Days | 121 | 288 | 300 | 334 | 212 | 149 | 166 | 181 | 115 | 86 | 73 | 76 |
| Days Payable | 40 | 41 | 32 | 40 | 61 | 39 | 53 | 81 | 93 | 48 | 62 | 56 |
| Cash Conversion Cycle | 142 | 294 | 313 | 393 | 251 | 176 | 181 | 169 | 74 | 77 | 42 | 48 |
| Working Capital Days | -46 | -42 | -26 | -61 | -36 | -32 | -45 | 74 | 5 | 21 | 4 | 5 |
| ROCE % | 9% | 14% | 8% | -2% | 3% | 7% | 3% | 8% | 22% | 23% | 31% | 26% |
Insights
In beta| Mar 2015 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Mar 2027 (P) | |
|---|---|---|---|---|---|---|---|---|---|---|
| Tyre Crushing Capacity Metric Tons (MT) |
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| Number of Manufacturing Plants Count |
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| Volume of Tyres Processed Metric Tons (MT) |
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| Crumb Rubber Sales Volume Metric Tons (MT) |
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| Renewable Energy Capacity MW |
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| R&D Expenditure (Percentage of Turnover) % |
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Documents
Announcements
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Voluntary Winding Up Of Overseas Non-Operational Wholly Owned Subsidiary
2d - Overseas WOS Tinna Rubber B.V. voluntarily wound up; dissolved Feb 28, 2025; no turnover or net worth.
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Disclosures Under Regulation 29(1) And 29(2) Of SAST Regulations 2011
30 Mar - Sekhri Family Annuity Trust acquired 54,04,730 shares (30%) from Bhupinder Sekhri on March 26, 2026 per SEBI exemption.
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Disclosures under Reg. 29(1) & 29(2) of SEBI (SAST) Regulations, 2011
30 Mar - Sekhri Trust acquired 54,04,730 shares (30%) on Mar 26, 2026; SEBI exempted open offer (order Mar 24, 2026).
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 30 Mar
- Closure of Trading Window 26 Mar
Annual reports
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Financial Year 2025
from bse
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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 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Apr 2025TranscriptAI SummaryPPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT
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Aug 2023Transcript PPT
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Jul 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Feb 2023TranscriptAI SummaryPPT
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Dec 2022TranscriptAI SummaryPPT
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Nov 2022Transcript PPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022Transcript PPT
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Aug 2022TranscriptAI SummaryPPT
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Jun 2022Transcript PPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Jan 2022TranscriptAI SummaryPPT
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Dec 2021TranscriptAI SummaryPPT
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Oct 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
Business Overview[1][2]
Established in 1977, Tinna Rubber and Infrastructure Limited (TRIL) is one of Asia’s largest recyclers of end-of-life tyres (ELT). The company specializes in recycling waste tyres to manufacture value-added products, including crumb rubber, crumb rubber modifier (CRM), crumb rubber modified bitumen (CRMB), polymer modified bitumen (PMB), bitumen emulsion, reclaimed rubber, ultrafine crumb rubber compound, and cut wire shots. These products are primarily used in road construction, tyre manufacturing, and the auto parts industry.