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Indag Rubber Ltd. — Earnings Release 2024
May 23, 2024
62275_rns_2024-05-23_f6cc1014-6a0d-4b9a-8fde-6a6a80434d56.pdf
Earnings Release
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lndag Rubber Limited
Regd.Office :Khemka House, 11, Community Centre, Saket, New Delhi ·110017, India Phone :26963172-73, 26961211, 26663310, 41664618, 41664043, Fax : 011- 26856350 E-mail :[email protected], 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 23, 2024
BSE Limited (Company code‐1321) Phiroze Jeejeebhoy Towers, (Scrip code‐509162) Dalal Street, Mumbai-400001.
Sub.: Result Press Release of Q4 FY2024.
Dear Sir,
Enclosed please find Result Press Release of Q4 FY2024 for the information of the investors and public at large.
Thanking you.
Yours faithfully,
For Indag Rubber Limited
Digitally signed by SONAL GARG DN: cn=SONAL GARG c=IN SONAL l=FARIDABAD o=Personal [email protected] GARG Reason: I am the author of this document Location: Date: 2024-05-23 12:52+05:30
Sonal Garg Company Secretary & Compliance Officer
-------------- The only alternative to new tyres -------------
THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978
FY24 Financial Highlights
Investor Release
23[rd] May 2024, Delhi ; Indag Rubber Limited, one of India’s leading tread manufacturing Company, has declared its Audited Financial Results for the quarter and financial year ended 31[st] March 2024.
FY24 Financial Highlights
| Particulars (Rs. Crs.)* | FY24 | FY23 | YoY |
|---|---|---|---|
| Total Revenue | 261.2 | 252.2 | 4% |
| EBITDA | 27.7 | 22.0 | 26% |
| EBITDA Margin | 10.6% | 8.7% | 190 bps |
| Profit After Tax | 16.7 | 13.2 | 27% |
| PAT Margin | 6.4% | 5.2% | 120 bps |
- Includes Other Income ; On Standalone Basis
Dividend: The Board of Directors has recommended a Final Dividend of Rs. 2.1 per Equity Share of Face Value of Rs. 2 each of the Company (105% of FV). Total Dividend for FY24 stood at Rs. 3 per Equity Share (including Interim Dividend of Rs. 0.90 per Equity Share)
Commenting on the Result, Mr. Vijay Shrinivas, CEO , Indag Rubber Limited said,
“During FY24, Revenue stood at Rs. 261 crores, a growth of 4% YoY. EBITDA stood at Rs. 28 Crore a growth of 26% YoY. EBITDA margins stood at 10.6% an improvement of 190 basis points. This is on account of cooling raw material prices combined with volume growth and improving operational efficiencies. Profit After Tax (PAT) has grown by 27% YoY in FY24 to Rs. 17 crores.
During the quarter, we saw lower STU volumes due to lower construction activity on account of elections. We are confident that our STU volumes will return to normalcy which would help boosting a margins and growth going forward.
We at Indag are witnessing several positive industry tailwinds. Escalating cost pressures among fleet owners are prompting a shift towards retreading solutions. Also, the widespread adoption of radialization in commercial vehicle tyres is enabling multiple retreading cycles, enhancing their longevity and sustainability. The company continues to stay highly focused on volume driven growth going forward.
There's a notable government emphasis on fostering a circular economy, particularly evident through the introduction of Extended Producer Responsibility (EPR) norms. Fleet operators are increasingly prioritizing environmental sustainability, recognizing the importance of reducing their carbon footprint. As a result, many are turning towards greener alternatives which include retreading.
Indag Rubber's relentless pursuit of excellence with a customer-centric approach has propelled its growth trajectory. Through strategic investments in technology and operational efficiency, coupled with a heightened focus on quality and innovation we are poised to witness sustainable growth going 1 forward.”
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) Mr. Deven Dhruva / Mr. Varun Shivram & CFO [email protected]/[email protected] +91 9833373300 / +91 9137891895
www.sgapl.net
www.indagrubber.in
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