Indag Rubber Ltd. — Investor Presentation 2026

Jun 4, 2026

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: info@indagrubber.com; 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 04, 2026

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

(Company code-1321)
(Scrip code-509162)

Sub.: Investor Presentation for FY-2026.

Dear Ma’am/Sir,

Please find enclosed Investor Presentation for FY-2026 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: 2026.06.04
14:28:05 +05'30'

Sonal Garg
Company Secretary & Compliance Officer
(ACS 24598)

The only alternative to new tyres

---

THE ONLY ALTERNATIVE TO NEW TYRES

SINCE 1978

INDAG RUBBER LIMITED

THE ONLY ALTERNATIVE TO NEW TYRES

Investor Presentation

June 2026

---

Safe Harbor

INDAG®

This presentation and the accompanying slides (the "Presentation"), which have been prepared by Indag Rubber Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all-inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and, the Company is not responsible for such third party statements and projections.

2

---

INDAG

Every Retreaded Tyre Makes Nature Smile

Q4 & FY25-26 Financial Highlights

INDAG TREAD
DESH KI TREAD

---

CEO's Message

INDAG

Mr. Vijay Shrinivas

CEO & Whole Time Director, Indag Rubber Ltd.

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).

---

INDAG

Q4 & FY25-26 Financial Highlights

Total Revenue*

On Standalone Basis *Includes Other Income

EBITDA & EBITDA Margins*

Profit After Tax & PAT Margins

---

INDAG

Q4 & FY26 Profit & Loss Statement

Particulars (Rs. In Crs.)	Q4 FY26	Q4 FY25	Y-o-Y	Q3 FY26	Q-o-Q	FY26	FY25	Y-o-Y
Revenue from Operations	60.8	55.1	10%	56.1	8%	214.2	224.8	-5%
Other Income	2.4	2.8		2.6		10.6	12.1
Total Revenue	63.2	57.9	9%	58.7	8%	224.8	236.9	-5%
Total Raw Material	41.6	40.4		39.0		147.2	161.6
Gross Profit	21.6	17.5	23%	19.7	10%	77.6	75.3	3%
Gross Profit %	34.2%	30.2%	400 bps	33.6%	60 bps	34.5%	31.8%	270 bps
Employee Expenses	6.6	6.1		6.3		25.1	26.6
Other Expenses	8.6	7.9		7.5		30.1	32.2
EBITDA	6.3	3.5	81%	6.0	5%	22.4	16.5	36%
EBITDA %	10.0%	6.0%	400 bps	10.2%	-20 bps	10.0%	7.0%	300 bps
Depreciation	1.3	1.4		1.4		5.6	5.5
EBIT	5.0	2.1	139%	4.5	12%	16.8	11.0	53%
EBIT (%)	8.0%	3.7%		7.7%		7.5%	4.6%
Finance Cost	0.1	0.1		0.1		0.5	0.5
Profit before Tax	4.9	2.0		4.4		16.3	10.4
Tax	1.4	0.3		1.0		4.0	2.0
Profit after Tax	3.6	1.7	115%	3.4	5%	12.4	8.4	47%
PAT%	5.6%	2.9%	270 bps	5.7%	-10 bps	5.5%	3.6%	190 bps
EPS	1.35	0.63		1.28		4.72	3.21

On Standalone Basis

---

The Only Alternative To New Tyres

INDAG

AN EXCELLENT HISTORY OF PROVIDING BEST-IN-CLASS RETREADING MATERIALS AND SOLUTIONS

ONE STOP SOLUTION FOR RETREADING

CUTTING EDGE TECHNOLOGY

EXPERIENCE IN EXCELLENCE

HIGHLY CERTIFIED PRODUCTS

---

Indag's Nationwide Presence: Connecting Every Corner of India

INDAG

DEPOTS	DEALERS
15+	300+
SALES & TECHNICAL TEAMS
50+	RETREADERS
3000+

• Sales Employees across India
• Technical Service Engineers across India
• Fleet Engagement Executives across India

---

INDAG

Revolutionizing Tyre Retreading with Cutting-Edge Solutions

PRECURED TREAD RUBBER

• Capacity of 20,000 MT p.a.
• Servicing different vehicle types M&HCVs, LCVs, Passenger vehicles and Off-road vehicles
• Specialized patterns for varied road applications such as highways, hills, mining, off-road

UN-VULCANIZED RUBBER STRIP GUM

• Capacity of 5,000 MT p.a.
• Strong bonding between casing and tread
• Shortest curing time

• High retreading productivity

• Capacity of 2,200 KL p.a. with availability of 3 variants

• Provides protection to tyre buffed surface from oxidation
• Good cured bonding between casing and cushion

UNIVERSAL SPRAY CEMENT

• Heat resistive compound
• Lowest cost per cure envelopes
• Longer retreated life

TYRE RETREADING ENVELOPES

---

Indag

Indag Rubber: Pioneering India's Tyre Retreading Industry Since 1978

1978: Incorporated as JV between Khemka Group & M/S Bandag Inc, (USA)

1979: Set up plant at Bhiwadi (Rajasthan)

1984: Listed on BSE

1978-84

Increased capacity at Nalagarh plant from 6,000 MT to 13,800 MT. Foray into Foreign market with launch of "Zoma" Brand

• 2006

JV was terminated with Bandag Khemka Group took over 38.3% share Set up plant at Nalagarh (Himachal Pradesh)

• 2012

• 2015

Included as one of the best 'Under 1 Bn' company by Forbes Asia Certificate of Excellence from Inc 500 in 2012 & 2013

Expanded Capacity from 13,800 MT to 20,000 MT

• 2016

Entry into Green Energy Sector

---

State-of-the-Art Manufacturing and R&D Facility at Nalagarh

INDAG

Advanced Technology Driving Innovation and Excellence in Tyre Retreading

11

---

Focused Management: Driving Strategic Growth and Excellence

INDAG

Mr. Nand Khemka

Chairman & Managing Director

M.S. in Foreign Trade & MBA from Columbia University, New York, U.S.A.

Over 55+ years of experience in promoting and running successfully various organizations

Mr. Uday Khemka

Director

Over 30+ years of Investment Banking & Entrepreneurial experience in Emerging markets

Vice-Chairman of the SUN Group of companies

Educated at Eton College, he received his undergraduate and Master's degrees at Cambridge University and received an MBA with distinction from Harvard Business School (Baker Scholar)

Mr. Shiv Khemka

Director

Vice-Chairman of SUN Group, founded in the early 90's

Educated at Eton College, Brown University, and MBA/ MA from Wharton School of Business and the Lauder Institute at University of Pennsylvania

Mr. Vijay Shrinivas

CEO & Whole Time Director

With the company since 2018. He was last working with Arvind Ltd. as Chief Sales & Marketing Officer. Prior to that, he was with DuPont, Bharat Shell, Larsen & Toubro and Tube Investment (Murugappa Group) in various operating and leadership roles

Masters in International Business from Indian Institute of Foreign Trade, New Delhi, with over 30+ years of experience

---

Focused Management: Driving Strategic Growth and Excellence
INDAG

Mr. Nikhil Khanna
Non-Executive Director (Independent)

Ms. Ranjana Agarwal
Non-Executive Director (Independent)

Mr. Sushil Kumar Dalmia
Non-Executive Director (Independent)

Mr. Raj Kumar Agrawal
Non-Executive Director (Independent)

Mr. Anil Bhardwaj
G.M.(Accounts) & CFO

Ms. Sonal Garg
Company Secretary

---

INDAG

Voice of Customers — Channel & Fleet Engagement FY26

R.R. LOGISTICS

Jaipur, Rajasthan

INDAG ZZYL TREAD PATTERN TO RUN 1.4 LAKH KMs

"We are a prominent fleet with 80 vehicles primarily running on Ambala-Mumbai & Ambala-Hyderabad route. We had retreaded 88 tyres in the last 6 months with Indag Tread (ZZYL & ZZE2 Patterns). We are using Retreaded Tyre fixed on Dummy Axle of Size: 10.00R20. We anticipate a mileage of 1.4 Lakh KM at 80% Wear, which is 32% better than competitor. I would strongly advocate the use of Indag Tread to my fellow transporters as well."
Application: Truck

BHAGWATI AIR EXPRESS PVT. LTD.

New Delhi, Delhi

INDAG ZZYL TREAD PATTERN RUNS 1.6 LAKH KMs

"We, M/S Bhagwati Transport have a fleet of 90 Trucks plying PAN-India, mostly in medium to long haulage catering to the e-commerce industry. We used Indag's retreaded tyres on Dummy Axle of size: 295/80R22.5 and reached up to lakh KM Mileage at 85% Wear. After getting 100+ tyres retreaded through Indag's franchisee Haryana Cold Retreads, we are pleased to confirm that Indag's Retreaded patterns almost achieve 85% of New Tyre Mileage."
Application: Truck

VEERBHADRA SWAMY TOURS & TRAVELS

Hyderabad, Telangana

INDAG ZZYL TREAD PATTERN RUNS 90,000 KMs

"For last 11 months I have been using Indag Tread Rubber for my fleet of 80 buses. The retreaded tyres are giving around 89,500 mileage, which is 24% better than competitor. I am satisfied with the service of Indag Rubber Limited."
Application: Bus

NEW JAISHANKAR TRANSPORT COMPANY

Jaipur, Rajasthan

INDAG ZZA1 PROVIDES 14% MORE MILEAGE ON STEER AXLE

"We are a prominent fleet of 600+ vehicles, plying on the Janagar-Uttarakhand and Nimbahera-Gujarat route. We are highly satisfied with ZZYL, ZMB57 and ZZA1 Patterns, providing 14% better Mileage on Steering Axle than competition. Timely recommendations by Indag Team helped us in achieving better performance. We strongly advocate the use of Indag Treads to our fellow transporters as well."
Application: Multi-axle Truck Trailer

JYOTI TRANSPORT SERVICE

Mumbai, Maharashtra

INDAG TREADS PERFORM EXCEPTIONALLY WELL ON BOTH KACHA AND PAKKA ROADS

"Our vehicles operate across India in mixed road conditions (20% bad and 80% good) running 61500kms per month. We face a problem of excessive tyre chipping & low mileage leading to low mileage. Indag's offerings exceed our expectations and provide performance equivalent to up to 85% of New Tyre Mileage."
Application: Truck + Trailer

MANTHAN TRANSPORT

Namakkal, Tamil Nadu

95,000 KMs A NEW NORMAL FOR ZLD

"We have been using retreaded tyres from Retreader Neetha Tyres. We are using Endurance LD as New Tyre & since getting superior mileage, we shifted to ZLD Pattern like New Tyre to our retreader. We used ZLD 220 and achieved a mileage of 95,000 kms."
Application: Truck

INDAG CONSULTANCY SERVICES

"I would like to appreciate the INDAG Consultancy Services received from your Company recently. 7 Chambers, Buffers and builders are repaired properly. We are satisfied and move."

PERFORMANCE OF 4219 ULTIMA ENVELOPE

"We are very much happy with performance of 4219 Ultima. We used this Envelope from August 2022. We have cured 150 tyres on an average in every month & this Envelope cured around 500 tyres. We are very much satisfied with INDAG 4219 Ultima Envelope. We would urge everyone to try 4219 Ultima Envelope of INDAG once."

EXPERT & KNOWLEDGABLE SUPPORT ENGINEER PROVIDED BY INDAG

"We had issues with the Rasper & Chamber in our plant, which was rectified by Service Engineer Mr. Mohammed Haris who was very genuine & had great knowledge about all machinery. This issue was long pending and required expertise to be rectified. We appreciate INDAG & Mr Haris."

HELPED GET PRODUCTION BACK ON TRACK

"We are very satisfied with the work done by INDAG Service Engineer Mr. Manohar Lal. He inspected & repaired the chamber in a very short period of time, which helped us get the production up & running."

---

Voice of the Customers

INDAG

Empowering mobility with trusted, cost-effective solutions, our satisfied customers choose us for unmatched tyre retreading excellence.

---

Multi-Tier Product Portfolio — Serving Performance & Value Customers

INDAG

• Our R&D function is focused on developing high-performance products for performance-conscious customers across the retreading market, supported by a state-of-the-art research and development facility.
• Recent additions to the portfolio include new tread range for LCVs and EVs (EV-optimised for e-buses), complementing the established premium tread range. The allied product suite — cushion gum, USC, and envelopes — further strengthens the end-to-end retreading solution we offer to our franchisee partners and large fleet customers.

---

Building Awareness — Engagement Activities

INDAG

Indag continued to be a key player in promoting the circular tyre economy, showcasing its leadership through industry conferences, fleet engagement programmes, and channel-partner training across India. showcasing the advantages of retreading as an alternative to industry stakeholders.

Indag Rubber at the Commercial Vehicles Conference

IRC RUBBER CON

Indag Rubber at the IRC Rubber Conference

---

Marketing in Action —Digital & On-Ground Campaigns

INDAG

Enhance Customer Brand Experience Through Digital Campaign

☑ Promoting an easy-to-navigate digital experience, customers can seamlessly explore and choose the right products for their needs.

Instant Visual Appeal at Point of Sale

☑ 3D rendering & modeling of PTR designs showcasing product features with complete clarity through marketing tools.
☑ More than 1000+ touchpoints covered

Owner-Driver Engagement through Targeted BTL Activities

☑ Reaching out to more than 700+ owner drivers through more than 200+ BTL activities

---

INDAC®

Highly Underpenetrated Industry: Poised For Growth

---

IntJAC ROTARY INTERNATIONAL

Retreading: Strong Pillar of a Circular Economy

Retreading saves:

Retreading: The Pinnacle of Circularity and Value in Tire Recycling

Source: a) Centre for Remanufacturing & Reuse Carbon UK, Footprint Report Retread vs New Tyre Report, European Remanufacturing Association; b) End-of-life tyres. A review, University of Trento Italy

---

INDAG®

Retreading - The only Cost Saving Measure for Fleet Owners

Regulatory changes increasing CV prices by 10-12%

High Fuel Costs

Increasing Toll Prices

Increasing Competition

Retreading saves up to

70%

of a new tyre cost

Reduces CPKM (Cost-per-KM) to

1/3

of a new tyre

Provides

70%

life compared to a new tyre

Safety is tested to same stringent performance criteria as a new tyre

Going forward, retreading of tyres is the only considerable solution to reduce costs

---

Highly Underpenetrated Industry — Poised For Multi-Year Growth

INDAG

Improved Road Infrastructure

• More distance travelled in lesser time
• Higher tonnage vehicles with more tyres
• Less Downtime & longer tread life
• Less Damage to vehicles & tyres

Growing Environmental Consciousness

• Retreading promotes sustainability and reusability, providing lesser carbon footprint
• Extended Producer Responsibility (EPR) Policy will drive growth in retreading industry

Increasing Radialization Trend

• Truck & Bus tyre segment has reached ~60% radialisation per CRISIL, expected to rise to 68-70% by FY30.
• Radial tyres are structurally stronger and supports multiple retread

GST & Favorable Regulatory Guidelines

• Fewer stopovers at check posts due to E-waybills
• Less overloading due to increasing regulations
• End of tyre life norms and labelling norms
• Restrictions on Overloading
• Elimination of smaller, unorganized players and formalization of value chains

Inclination to Electric Vehicles

• While IC engines may become redundant over time, tyres will not
• Emerging tyre designs focused on Electric Vehicles

22

---

Indag Positioned for Growth Amid Expanding Market Opportunities

INDAG

Unparalleled Product Portfolio	Indag boasts a best-in-class product range, catering to diverse customer needs across various tyre segments
Cutting-Edge R&D	Indag's recently established state-of-the-art research and development facility at Nalagarh, Himachal Pradesh which spearheads innovation, ensuring the delivery of best-in-class products
Pan-India Network	Indag's expansive network spanning over 300 dealers, 3000 retreaders, and 15 strategically located depots ensures comprehensive market coverage and customer proximity, guaranteeing pan-India availability
Expert On-Ground Team	Indag's team of over 50 highly trained on-ground personnel, comprising sales executives, technical engineers, and dedicated fleet engineers, ensures timely solutions and services tailored to customer needs
---	---
Dedicated Fleet Support	Indag's dedicated assistance to fleet owners and operators helps them reduce tyre cost per kilometer (CPKM), enhancing fleet profitability
Indag Consultancy Services	Indag's consultancy services offer expert guidance to retreaders, covering retreading processes, machinery, and troubleshooting, ensuring efficient and cost-effective operations

Indag continues to be a leading player in the retreading industry.

Our compelling value proposition and unwavering commitment to product innovation are propelling our leadership in this highly competitive landscape

---

INDAG

ELCOM GROUP

SUN RENEWABLES

Diversification: Millenium Manufacturing — First Commercial Order in FY26

India's Electronics Manufacturing Sector

India's electronics contract manufacturing industry is on a strong long-term growth path. India's Electronics Manufacturing Services (EMS) market is forecast to reach a value of approximately US$348 billion by 2031, growing at a CAGR of around 28% over the 2025-2031 period (source: BlueWeave). EMS is the key link between components and finished equipment, and India can serve as an alternative source for global OEMs to prevent supply chain disruptions.

Millenium Manufacturing Systems

Millenium is a joint venture of Sun Group companies—ELCOM Innovations, SUN New Energy Capital and INDAG—dedicated to manufacturing green energy power electrical and electronics products for the global market.

Goal: Our goal is to be India's leading power electronics manufacturing company especially focused on the energy transition, including the generation, the grid and application sectors such as transportation, to help de-risk global supply chains in the US, Europe and Japan away from dependence on a single manufacturing market. This goal is supplemented by core strength in the Indian economy, the alignment of India with the western market, and strong support from the Indian Government.

Vision: To enable manufacturing for clean energy deployment creating a sustainable future for our planet.

Mission: To manufacture and deliver world-class Power Electronics Equipment through people, partnerships, innovation and integrity, building a green manufacturing corridor to de-risk supply chains for the US, Europe and Japan with India's emerging manufacturing excellence. Specialization: Power electronics for energy generation, grid management

Manufacturing Base: Mohali facility with advanced infrastructure.

Key Milestones

• Factory Certification: Successfully completed all factory certifications and approvals.
• First Customer Delivery: Achieved first customer delivery in Q2 FY25.
• Beta Order Deliveries: Completed beta order deliveries in Q3 FY25.
• First Commercial Serial Order: Received the first commercial serial order in FY26 for Power Conversion Systems (PCS) to be used in Battery Energy Storage Systems (BESS); execution is scheduled for FY27.

24

---

CSR Initiatives — Education-Led Impact

INDAG

628+ students and 350+ families are direct beneficiaries; 42 of 46 Grade V Navi Disha students achieved A/A+ in SCERT.

THE NABHA FOUNDATION

Key Initiatives

• Education — Innovative Teaching
• Flipped classrooms, collaborative learning
• Environmental awareness in curriculum
• 5 Navi Disha schools, K-5 (418 students)

The Company has partnered with The Nabha Foundation to provide literacy programs in primary and senior secondary schools, ensuring that every child has access to quality education and the opportunity to reach their full potential

Our partnership with The Nabha Foundation continues to deliver measurable impact across 5 Navi Disha schools (418 students, K-5) and the Maharani Gurucharan Kaur Girls School (210 students, K-10).

• Community & Healthcare
• Blood donation camps, heatwave awareness
• 250 saplings planted (90% survival)
• HP CM Relief Fund for floods

• Sports & Cultural
• Wrestling, cricket, kabaddi (boys & girls)
• Teacher training workshops
• Alumni: nurses, IT professionals

INDAG

---

Historical Financials

---

INDAG®

Historical Profit & Loss Statement

Particulars (Rs. In Crs.)	FY26	FY25	FY24	FY23
Revenue from Operations	214.2	224.8	251.2	243.9
Other Income	10.6	12.1	10.0	8.4
Total Revenue (incl Other Income)	224.8	236.9	261.2	252.2
Total Raw Material	147.2	161.6	169.4	174.3
Gross Profit	77.6	75.3	91.9	77.9
Gross Profit (%)	34.5%	31.8%	35.2%	30.9%
Employee Expenses	25.1	26.6	24.8	22.1
Other Expenses	30.1	32.2	39.3	33.8
EBITDA	22.4	16.5	27.7	22.0
EBITDA (%)	10.0%	7.0%	10.6%	8.7%
Depreciation	5.6	5.5	5.3	4.5
EBIT	16.8	11.0	22.5	17.6
EBIT (%)	7.5%	4.6%	8.6%	7.0%
Finance Cost	0.5	0.6	0.6	0.3
Profit before Tax	16.3	10.4	21.8	17.2
Tax	4.0	2.0	5.1	4.0
Profit after Tax	12.4	8.4	16.7	13.2
PAT %	5.5%	3.6%	6.4%	5.2%
EPS	4.72	3.21	6.38	5.04

On Standalone Basis

---

INDAG

Historical Balance Sheet

Liabilities (Rs. In Crs.)	Mar-26	Mar-25	Mar-24	Mar-23
Equity
Share Capital	5.3	5.3	5.3	5.3
Other Equity	230.4	224.8	221.6	206.6
Total Equity	235.6	230.1	226.8	211.8
Non Current Liabilities
Financial Liabilities
Lease Liabilities	3.8	5.0	5.5	5.9
Provisions	1.0	1.1	0.9	0.9
Deferred Tax Liabilities (Net)	3.5	4.0	3.3	3.0
Total Non Current Liabilities	8.3	10.1	9.7	9.9
Current Liabilities
Financial Liabilities
Lease Liabilities	0.6	0.5	0.4	0.4
Trade Payables	25.9	21.3	19.7	22.8
Other Financial Liabilities	4.8	3	3.3	3.4
Provisions	0.5	0.4	0.1	0.2
Other Current Liabilities	2.9	4.0	2.7	2.7
Total Current Liabilities	34.6	29.2	26.3	29.4
Total Equity and Liabilities	278.5	269.4	262.8	251.1
Assets (Rs. In Crs.)	Mar-26	Mar-25	Mar-24	Mar-23
---	---	---	---	---
Non Current assets
Property, Plant and Equipments	25.0	26.1	28.0	24.4
Capital Work-In-Progress	0.1	0.4	0.2	0.4
Investment Property	17.7	18.8	19.9	21.0
Right of Use Assets	3.4	4.8	5.5	6.3
Other Intangible Assets	0.4	0.6	0.5	0.1
Financial Assets
Investments	94.0	104	110.4	95.7
Loans	0.0	0.0	0.0	0.0
Other Financial Assets	0.2	0.4	0.5	1.3
Income Tax Assets (net)	0.8	1.2	0.7	0.3
Other Non-Current Assets	0.7	0.5	0.4	1.4
Total Non Current Assets	142.3	156.8	166.2	150.8
Current Assets
Inventories	47.2	45.2	39.5	42.2
Financial Assets
Investments	52.6	30.8	16.5	17.0
Trade Receivables	22.2	25.1	25.7	29.3
Cash and Cash Equivalents	3.6	1.3	2.9	1.7
Other Bank Balances	1.5	1.3	1.6	0.6
Loans	0.2	0.3	0.2	0.2
Other Financial Assets	1.4	1.7	2.8	1.8
Other Current Assets	7.6	6.9	7.4	7.5
Total Current Assets	136.3	112.6	96.6	100.3
Total Assets	278.5	269.4	202.8	251.1

On Standalone Basis

---

INDAG®

Historical Cashflow Statement

Particulars (Rs. In Crs.)	Mar-26	Mar-25	Mar-24	Mar-23
Net Profit Before Tax	16.3	10.4	21.8	17.2
Adjustments for: Non Cash / Other Items	0.8	-9.0	1.1	1.8
Operating profit before working capital changes	17.1	9.5	23.0	19.0
Changes in working capital	6.6	-0.5	2.6	-6.6
Cash generated from operations	23.7	9.1	25.6	12.5
Direct taxes paid	-3.6	-2.5	-5.7	-2.8
Net Cash from Operating Activities	20.2	6.5	19.9	9.7
Net Cash from Investing Activities	-10.5	0.7	-11.4	-1.8
Net Cash from Financing Activities	-7.3	9.0	-7.4	-6.8
Net Decrease in cash and cash equivalents	2.3	-1.7	1.2	1.0
Add: Cash & Cash equivalents at the beginning of the year	1.3	3.0	1.7	0.7
Cash & Cash equivalents at the end of the year	3.6	1.3	2.9	1.7

On Standalone Basis

---

INDAG

Consistent Dividend Pay-Out

EPS : Earnings Per Share
DPS: Dividend Per Share
EPS & DPS are in Rs.

---

THE ONLY ALTERNATE TO NEW TYRES...

For further information, please contact

Company:
Indag Rubber Ltd
CIN: L74899DL1978PLC009038
Mr. Anil Bhardwaj, G.M.(Accounts) & CFO
anil@indagrubber.com
www.indagrubber.com

Investor Relations Advisors:
Strategic Growth Advisors Pvt. Ltd.
CIN: U74140MH2010PTC204285
Mr. Deven Dhruva / Mr. Ronak Jain
deven.dhruva@sgapl.net / ronak.jain@sgapl.net
+91 98333 73300 / +91 9820950544
www.sgapl.net