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Indag Rubber Ltd. — Earnings Release 2022
Aug 12, 2021
62275_rns_2021-08-12_5e700e3b-7ff8-4278-8bd5-24d19889efcc.pdf
Earnings Release
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August 12, 2021 BSE Limited (Company code-1321) Phiroze Jeejeebhoy Towers, (Scrip code-509162) Dalal Street, Mumbai-400001
Sub: Result Press Release of Q1, FY2022
Dear Sir,
Enclosed please find Result Press Release of Q1, FY2022 for the information of the investors and public at large.
Thanking You.
Yours faithfully, For Indag Rubber Limited Manali D. Bijlani Company Secretary
THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978
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Indag Rubber Limited
Investor Release: 12[th] August 2021, Delhi
Indag Rubber Limited , one of India’s leading tread manufacturing Company, has declared its Unaudited Financial Results for the Quarter Ended 30[th] June, 2021.
Q1 FY22 Financial Highlights
| Particulars (Rs. Crores) | Q1 FY22 | Q1 FY21 |
|---|---|---|
| Total Revenue* | 31.7 | 26.3 |
| EBITDA* | -0.3 | 0.1 |
| Profit After Tax | -0.8 | -0.3 |
- Includes Other Income, On Consolidated Basis;
Key Highlights
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Q1 FY22 Revenues were impacted due to demand disruption caused by the localized lockdowns on account of 2[nd] wave of CoVID-19. However, the Company reported topline growth of 21% on account of low base of last year
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The Company has witnessed steep increase in raw material prices which was not completely
passed on due to market competition and lower demand.
THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978
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Commenting on the Result, Mr. Vijay Shrinivas, CEO Indag Rubber Limited said,
“Q1 FY22 was a challenging quarter. The resurgence of CoVID-19 in the start of the quarter resulted in consequent lockdown like restrictions of varying degrees across different regions of the country which caused demand disruption.
Our operations at manufacturing facilities were running smoothly and we took all necessary precautions ensuring the safety and well being of our employees. We have reported total income of Rs. 31.7 crores for Q1 FY22. Our margins were impacted by input cost inflation which was not completely passed on due to market competition and lower demand.
State of Indian economy by RBI reveals that the tapering of the second wave, coupled with an aggressive vaccination push, has brightened near term prospects for the Indian economy. While several high frequency indicators of activity are recovering, a solid increase in aggregate demand is yet to take shape.
Tyre Sector is witnessing huge capacity expansions being announced by many tyre companies. According to ICRA tyre industry is expected to grow in the current financial year supported by sharp recovery in OEM tyre demand , lower base of FY21, improved pace of vaccination, preference for personal mobility and healthy rural cashflows amid a normal monsoon forecast. With pick up in economic activities, transportation of goods has speed up which shall augur well for the demand of trucks and fleets thereby driving the demand for retreading in coming quarters.
We are focused to provide fleet owners with world class retreading solutions. We are continuously striving to improve the efficiency of our operations and strong focus on cost saving measures which shall help to enhance our performance going ahead.”
THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978
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About Indag Rubber Limited
Indag Rubber Limited (IRL) is founded by Khemka Group during the early 80's. IRL pioneered the introduction of Cold Retreading Technology in India. Since then the company has provided Retreading material to customers ranging from Pre-cure Tread Rubber to Envelopes. IRL has state-of-the-art manufacturing unit established at Nalagarh Industrial Estate in Himachal Pradesh with an Annual Capacity to manufacture 20,000 tons of Precured Tread Rubber (PTR) along with allied items. With the Best Quality product and reasonable pricing with wide distribution network, Company provides Tread which promises “Lowest Cost per Kilometre” to our customers.
Safe Harbor Statement
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
For further information, please contact
Company : Investor Relations Advisors : CIN: U74140MH2010PTC204285 CIN: L74899DL1978PLC009038 Mr. Varun Divadkar / Ms. Khushbu Shah Mr. Anil Bhardwaj, G.M.(Accounts) & CFO [email protected]/ [email protected] [email protected] www.indagrubber.in +91 9763702204 / +91 9820601181 www.sgapl.net