Indag Rubber Ltd. — Earnings Release 2023

May 11, 2023

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lndag Rubber Limited

Regd.Office :Khemka House, 11, Community Centre, Saket, New Delhi ꞏ110017, India Phone :26963172-73, 26961211, 26663310, 41664618, 41664043, Fax : 011- 26856350 E-mail :info@indagrubber.com, Website: www.indagrubber. com, CIN-L74899DL1978PLC009038

Works :Village Jhiriwala,Tehsil, Nalagarh,Distt. Solan, Himachal Pardesh - 174101,India Phone :09736000123

ISO900 1: 2015 ISO14001 : 2015

May 11, 2023

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001.

(Company code‐1321) (Scrip code‐509162)

Sub.: Result Press Release of Q4 FY2023.

Dear Sir,

Enclosed please find Result Press Release of Q4, FY2023 for the information of the investors and public at large.

Thanking you.

Yours faithfully,

For Indag Rubber Limited

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Digitally signed by MANALI D BIJLANI MANA DN: c=IN, st=Delhi, 2.5.4.20=f661c7d662f28e9ab40 37a5f1132d9a5b8e0cdf860d7f 985500e4cf0a6712964, postalCode=110092, LI D street=C-37 ANAND VIHAR, SHAKARPUR BARAMAD, EAST DELHI,DELHI,Delhi-110092, pseudonym=7b12574e467e28 91faaca0c6230ac196, BIJLA serialNumber=647cf315c520526a2b1842dc05e973f9fa96588b 318254766e4c8cfecd83ee1c, o=Personal, cn=MANALI D BIJLANI NI Date: 2023.05.11 16:19:02 +05'30'

-------------- The only alternative to new tyres -------------

THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978

Strong Q4 & FY23 Financial Performance

Investor Release

10[th] May 2023, Delhi ; Indag Rubber Limited, one of India’s leading tread manufacturing Company, has declared its audited Financial Results for the quarter & Year ended 31[st] March 2023.

Q4 & FY23 Financial Highlights

Particulars (Rs. Crs.)*	Q4 FY23	Q4 FY22	YoY	FY23	FY22	YoY
Total Revenue	66.6	46.0	+45%	252.2	173.3	+46%
EBITDA	9.6	1.9	+411%	22.0	7.2	+205%
EBITDA Margin	14.4%	4.1%	+1,030 bps	8.7%	4.2%	+450 bps
Profit After Tax	6.6	0.6	+964%	13.2	2.6	+411%

• Includes Other Income

The Board of Directors have declared Final Dividend of Rs. 1.50 per Equity Share of Face Value of ₹2 each of the Company (75% of Face Value). Total Dividend for FY23 stood at Rs. 2.40 per Equity Share (Interim Dividend of Rs. 0.90 per Equity Share)

Commenting on the Result, Mr. Vijay Shrinivas, CEO , Indag Rubber Limited said,

“I am pleased to report that our company has achieved significant revenue growth in Q4FY23 and FY23, despite the challenging economic environment. Our Q4FY23 revenues increased by 45% from ₹46Cr in Q4FY22 to ₹67 Cr, while our FY23 revenues reached ₹252Cr, up by 46% YoY from ₹173 Cr in FY22. Our growth during the year was largely driven by increase in volumes.

On the profitability front, we have seen remarkable growth as well. Our EBITDA has grown by ~3x to ₹22 crores and PAT has grown by 5x to ₹13 crores in FY23 due to cost efficiencies and smoothening of raw material prices in the 2nd half of FY23.

The organised retreading industry is expected to grow due to the increasing demand for sustainable and cost-effective tires, expansion of the logistics industry, and rising freight demand combined with improvements in road infrastructure resulting in faster movement of goods. Lastly, as commercial vehicle sales continues to recover, the market size is poised to expand in the next few years, creating strong growth prospects in the medium to long term.

The risk of global impact of Russia-Ukraine conflict, increase in interest rates by central banks and opening up of China Market needs to monitored closely.

As pioneers of cold retreading in India with a legacy of 45 years, Indag has a huge product portfolio with different tread design patterns, committed and well trained retread network , which positions us well to provide fleet owners with world-class retreading solutions. We are continuously striving to improve the efficiency of our operations and focused on cost-saving1 measures.”

THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978

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 Kilometer” 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: L74899DL1978PLC009038 CIN: U74140MH2010PTC204285 Mr. Anil Bhardwaj, G.M.(Accounts) & CFO Mr. Deven Dhruva / Ms. Hinal Kothari deven.dhruva@sgapl.net/Hinal.Kothari@sgapl.net anil@indagrubber.com +91 9833373300 / +91 9930133428 www.indagrubber.in www.sgapl.net

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