AI assistant
Indag Rubber Ltd. — Earnings Release 2024
Feb 23, 2024
62275_rns_2024-02-23_afa199b1-feb6-4ea8-be3d-092a415c3573.pdf
Earnings Release
Open in viewerOpens in your device viewer
==> picture [121 x 99] intentionally omitted <==
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
February 23, 2024
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001.
(Company code‐1321) (Scrip code‐509162)
Sub.: Result Press Release of Q3 FY2024.
Dear Sir,
Enclosed please find Result Press Release of Q3 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 e=SONALGARG@INDAGRUBB ER.COM Reason: I am the author of this GARG documentLocation: Date: 2024-02-23 13:21+05:30
Sonal Garg Company Secretary & Compliance Officer
-------------- The only alternative to new tyres -------------
THE ONLY ALTERNATE TO NEW TYRES…SINCE 1978
Robust Q3 & 9M FY24 Financial Performance
Investor Release
23[rd ] February 2024, Delhi ; Indag Rubber Limited, one of India’s leading tread manufacturing Company, has declared its unaudited Financial Results for the quarter and nine months ended 31[st] December 2023.
Q3 & 9MFY24 Financial Highlights
| Particulars (Rs. Crs.)* | Q3FY24 | Q3FY23 | YoY | 9MFY24 | 9MFY23 | YoY |
|---|---|---|---|---|---|---|
| Total Revenue | 64.7 | 62.8 | 3% | 197.4 | 185.7 | 6% |
| EBITDA | 6.5 | 6.1 | 7% | 21.7 | 12.4 | 75% |
| EBITDA Margin | 10.1% | 9.7% | +40 bps | 11.0% | 6.7% | +430 bps |
| Profit After Tax | 3.6 | 3.4 | 6% | 13.4 | 6.6 | 102% |
| PAT Margin | 5.6% | 5.4% | +20 bps | 6.8% | 3.6% | +320 bps |
- Includes Other Income ; On Standalone Basis
Commenting on the Result, Mr. Vijay Shrinivas, CEO , Indag Rubber Limited said
“In 9M FY24, we have witnessed a growth of 15% YoY on sales volume (in Mt/KL) and we have recorded a 6% YoY growth in Revenue terms. On the profitability front, EBITDA has surged by 75% to Rs. 21.7 crores and PAT has doubled to Rs. 13.4 crores. The growth in sales volume is supported by optimistic demand outlook which is further driven by strong momentum in the domestic economic activities and positive customer sentiments, while on a YoY basis our EBITDA margins have demonstrated consistency in improvement, standing at 11.0%, while PAT margin is at 6.8%.
In Q3 FY24, we have been able to sustain our revenue growth as it increased by 3% on an YoY basis, totaling to Rs. 64.7 crores. EBITDA has also surged by 7%, reaching Rs. 6.5 crores, while PAT has experienced an increase of 6%, reaching Rs. 3.6 crores. The improvement in margins is primarily supported by stable input costs in the first half of FY24.
India's booming logistics industry, coupled with a surge in sustainability efforts, creates an exciting opportunity for Indag. The government's push for a circular tyre economy further fuels this excitement, presenting a perfect match for our unwavering commitment to retreading solutions. We're strategically positioned to capitalize on this shift, leveraging our core vision of sustainability and green economy to make a positive impact.”
1
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 forwardlooking 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
Mr. Anil Bhardwaj, G.M.(Accounts) & CFO
CIN: U74140MH2010PTC204285 Mr. Deven Dhruva / Mr. Varun Shivram [email protected]/[email protected] +91 9833373300 / +91 9137891895
www.indagrubber.in
www.sgapl.net
2