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Indag Rubber Ltd. — Earnings Release 2026
Jun 3, 2026
62275_rns_2026-06-03_653e3d1e-fdef-4013-a365-5520e03ef0a2.pdf
Earnings Release
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INDAG®
Indag Rubber Limited
Regd. Office: Khemka House, 11, Community Centre, Saket, New Delhi -110017, India
Phone: 26963172-73, 26961211, 26863310, 41664818, 41664043; Fax: 011-26856350
E-mail: [email protected]; Website: www.indagrubber.com; CIN-L74899DL1978PLC009038
ISO 9001:2015
ISO 14001:2015
ISO 45001:2018
Works: VPO Bhogpur, Jhiriwala, Tehsil, Nalagarh, Distt. Solan, Himachal Pradesh-174101, India
Phone: +91-9736000123
June 03, 2026
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai-400001.
(Company code-1321)
(Script code-509162)
Sub.: Press Release for Q4 & FY 26 Financial Results.
Dear Ma’am/Sir,
Please find enclosed Press Release for Q4 & FY 26 Financial Results for the information of the investors and public at large.
Thanking you.
Yours faithfully,
For Indag Rubber Limited
SONAL GARG
Digitally signed
by SONAL GARG
Date: 2026.06.03
20:39:11 +05’30’
Sonal Garg
Company Secretary & Compliance Officer
(ACS 24598)
The only alternative to new tyres
THE ONLY ALTERNATIVE TO NEW TYRES...SINCE 1978
THE ONLY ALTERNATE TO NEW TYRES...SINCE 1978
Q4 & FY25-26 Financial Highlights
Investor Release
03 June 2026, New Delhi; Indag Rubber Limited, one of India's leading tread manufacturing Company, has declared its Audited Financial Results for the fourth quarter and financial year ended 31st March 2026.
Q4 & FY26 Financial Highlights
| Particulars (Rs. Crs.)* | Q4 FY26 | Q4 FY25 | Y-o-Y | Q3 FY26 | Q-o-Q | FY26 | FY25 | Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 63.16 | 57.86 | 9.2% | 58.74 | 7.5% | 224.81 | 236.90 | -5.1% |
| EBITDA | 6.33 | 3.49 | 81% | 5.96 | 6% | 22.43 | 16.48 | 36% |
| EBITDA Margin | 10.0% | 6.0% | 400 bps | 10.1% | -10 bps | 10.0% | 7.0% | 300 bps |
| Profit After Tax | 3.55 | 1.65 | 115% | 3.37 | 5% | 12.38 | 8.42 | 47% |
| PAT Margin | 5.6% | 2.9% | 270 bps | 5.7% | -10 bps | 5.5% | 3.6% | 190 bps |
- On Standalone Basis, including other income
Commenting on the Result, Mr. Vijay Shrinivas, CEO & Whole Time Director, Indag Rubber Limited said:
"During Q4FY26, total revenue grew 9% YoY to ₹63.16 crores, while EBITDA grew 81% YoY to ₹6.33 crores (10.0% margin) and Profit After Tax more than doubled to ₹3.55 crores (vs ₹1.65 crores). For FY26, total revenue stood at ₹224.81 crores (-5.1% YoY), primarily on account of weaker STU volumes in Q1. Despite the topline moderation, profitability recovered strongly — FY26 EBITDA grew 36% YoY to ₹22.43 crores (margin expanded ~300 bps to 10.0%), PAT grew 47% YoY to ₹12.38 crores, and PAT margin expanded ~190 bps to 5.5%.
Our focus on operational excellence yielded ₹19.7 crores in operating cash flow in FY26, up from ₹6.5 crores in FY25. This growth was driven by higher profitability and a reduction in our Working Capital cycle, achieved through disciplined credit control and optimized raw material supply chain management.
The Board has recommended a final dividend of ₹1.5 per equity share (face value ₹2/-) for FY26 — taking the total dividend for the year to Rs. 2.40 per share, inclusive of the Rs. 0.90 interim dividend paid in November.
The Company continues to serve performance-seeking customers through the Indag-branded product portfolio, with deeper engagement of our franchisee partners through structured technical training, on-ground audits, and faster information flow on raw-material trends.
While the 2026 West Asia escalation has elevated input costs sharply into early FY27, we are actively managing this through raw-material monitoring, calibrated price pass-through, supplier and geography diversification, product-mix optimisation, and disciplined working capital management. Indag has successfully navigated multiple raw-material cycles before, and we remain committed to driving long-term value through a differentiated, customer-centric approach.
The retreading industry's value proposition continues to be strong —
- Economically: A retreaded tyre saves up to ~70% of new tyre cost and brings cost-per-kilometre down to nearly a third) directly benefiting fragmented fleet owners and operators in India.
- Environmentally: A retreaded tyre saves 57 ltrs of Oil, 44kg of rubber, translating to ~136 kg of lower CO₂ emissions versus a new tyre.
Our subsidiary, Millenium Manufacturing Systems—an EMS provider in the power-electronics segment for the global green energy transition—achieved a meaningful milestone in FY26, progressing from factory homologation to securing its first commercial serial order for power conversion systems used in Battery Energy Storage Systems (BESS).
THE ONLY ALTERNATIVE TO NEW TYRES INDAG® SINCE 1978
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 Precured 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 : |
|---|---|
| SGA Strategic Growth Advisors | |
| CIN: L74899DL1978PLC009038 | |
| Mr. Anil Bhardwaj, G.M.(Accounts) & CFO | CIN: U74140MH2010PTC204285 |
| Mr. Deven Dhruva / Mr. Ronak Jain | |
| [email protected] | |
| www.indagrubber.in | [email protected] / [email protected] |
| +91 9833373300 / +91 9820950544 | |
| www.sgapl.net |