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Indag Rubber (BSE 509162)₹102.50+0.49%Tyres & Rubber Products
In the Sep 2026 quarter (consolidated), Indag Rubber reported sales of ₹80.99 Cr, up 53.9% from Sep 2025, and net profit of ₹3.07 Cr, up 7.0% year on year. For the year to Mar 2026, sales were ₹215 Cr and net profit ₹8.04 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 62.44 | 61.38 | 55.61 | 62.17 | 55.77 | 55.16 | 45.04 | 52.63 | 56.24 | 60.88 | 70.22 | 80.99 |
| Expenses | 58.17 | 57.99 | 54.45 | 60.36 | 55.82 | 55.14 | 44.58 | 49.25 | 53.22 | 57.89 | 64.14 | 76.98 |
| Operating Profit | 3.93 | 3.11 | 0.90 | 1.44 | −0.32 | −0.28 | 0.25 | 3.04 | 2.74 | 2.62 | 5.65 | 3.47 |
| OPM % | 6.3% | 5.1% | 1.6% | 2.3% | −0.6% | −0.5% | 0.6% | 5.8% | 4.9% | 4.3% | 8.1% | 4.3% |
| Other Income | 2.36 | 2.52 | 2.38 | 4.18 | 2.59 | 2.72 | 2.89 | 2.65 | 2.56 | 2.33 | 3.07 | 2.36 |
| Interest | 0.24 | 0.16 | 0.24 | 0.24 | 0.24 | 0.22 | 0.22 | 0.24 | 0.19 | 0.50 | 0.37 | 0.30 |
| Depreciation | 1.36 | 1.39 | 1.63 | 1.67 | 1.69 | 1.67 | 1.72 | 1.77 | 1.73 | 1.59 | 1.61 | 1.64 |
| Profit before tax | 4.68 | 4.07 | 1.40 | 3.69 | 0.31 | 0.52 | 1.19 | 3.67 | 3.37 | 2.85 | 6.72 | 3.88 |
| Tax % | 25.4% | 26.3% | 30.6% | 16.3% | 62.6% | 1.9% | 29.2% | 22.6% | 30.8% | 35.7% | 25.3% | 21.4% |
| Net Profit | 3.51 | 3.01 | 0.99 | 3.11 | 0.14 | 0.52 | 0.86 | 2.87 | 2.35 | 1.84 | 5.06 | 3.07 |
| EPS (Rs) | 1.37 | 1.23 | 0.57 | 1.35 | 0.19 | 0.42 | 0.52 | 1.24 | 1.06 | 1.03 | 1.94 | 1.22 |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 185 | 168 | 173 | 187 | 170 | 167 | 251 | 228 | 215 | 268 |
| Expenses | 154 | 147 | 157 | 170 | 153 | 166 | 233 | 226 | 205 | 252 |
| Operating Profit | 29.97 | 20.98 | 14.99 | 15.98 | 15.98 | 0.00 | 16.97 | 1.99 | 7.99 | 14.48 |
| OPM % | 16.0% | 12.0% | 9.0% | 9.0% | 9.0% | 0.2% | 7.0% | 0.8% | 3.9% | 5.4% |
| Other Income | 6.02 | 7.02 | 5.02 | 5.02 | −9.03 | 7.02 | 10.03 | 12.03 | 11.04 | 10.32 |
| Interest | 0.99 | 1.99 | 1.99 | 0.00 | 0.00 | 0.00 | 0.99 | 0.99 | 0.99 | 1.36 |
| Depreciation | 3.01 | 4.01 | 4.01 | 4.01 | 3.01 | 4.01 | 5.01 | 7.02 | 7.01 | 6.57 |
| Profit before tax | 31.93 | 21.94 | 13.96 | 16.95 | 3.99 | 2.99 | 19.95 | 5.98 | 10.98 | 16.82 |
| Tax % | 31.1% | 27.0% | 22.1% | 20.0% | 21.1% | 18.0% | 24.1% | 21.1% | 28.1% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | −10.03 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Net Profit | 22.08 | 16.06 | 11.03 | 14.06 | 3.01 | 2.01 | 16.06 | 5.02 | 8.04 | 12.32 |
| EPS (Rs) | 8.35 | 6.03 | 4.11 | 5.13 | 0.98 | 0.80 | 6.17 | 2.50 | 3.89 | 5.25 |
| Dividend payout % | 29.1% | 40.1% | 59.1% | 47.1% | 248.1% | 304.1% | 49.1% | 96.1% | 62.1% | — |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.99 | 5.01 | 5.01 | 5.01 | 5.02 | 4.99 | 4.99 | 4.99 | 5.01 |
| Reserves | 171 | 182 | 186 | 182 | 192 | 201 | 221 | 222 | 226 |
| Borrowings | 15.05 | 13.06 | 12.04 | 11.04 | 0.00 | 0.00 | 10.04 | 9.03 | 18.07 |
| Other Liabilities | 35.17 | 29.14 | 27.14 | 28.14 | 39.18 | 27.13 | 35.17 | 37.08 | 55.27 |
| Total Liabilities | 226 | 228 | 231 | 226 | 238 | 234 | 272 | 274 | 305 |
| Fixed Assets | 49.10 | 46.07 | 44.13 | 41.07 | 25.05 | 45.08 | 64.10 | 60.10 | 56.16 |
| CWIP | 0.00 | 0.00 | 1.01 | 10.03 | 19.07 | 1.01 | 0.00 | 0.00 | 0.00 |
| Investments | 90.10 | 104 | 96.18 | 79.17 | 91.19 | 112 | 122 | 128 | 139 |
| Other Assets | 87.20 | 78.20 | 89.18 | 95.11 | 101 | 75.10 | 85.17 | 86.13 | 110 |
| Inventories | 40.83 | 32.88 | 37.87 | 36.89 | 35.87 | 38.85 | 40.85 | 45.84 | 68.77 |
| Trade receivables | 29.09 | 29.09 | 34.10 | 38.11 | 29.09 | 23.07 | 26.06 | 25.06 | 22.05 |
| Cash & equivalents | 6.98 | 5.99 | 5.99 | 4.99 | 3.99 | 1.99 | 5.99 | 2.99 | 4.99 |
| Total Assets | 226 | 228 | 231 | 226 | 238 | 234 | 272 | 274 | 305 |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 7.99 | 16.98 | 0.00 | 9.99 | 14.99 | 7.99 | 17.99 | 2.99 | 8.99 |
| Cash from investing activity | −14.96 | −7.98 | 9.96 | 2.99 | −8.98 | −2.99 | −10.97 | 0.99 | −9.97 |
| Cash from financing activity | 9.01 | −10.01 | −10.01 | −15.01 | −5.01 | −7.01 | −3.99 | −7.01 | 3.01 |
| Net cash flow | 2.01 | −1.01 | −1.01 | −2.01 | 1.01 | −1.01 | 3.01 | −3.01 | 2.01 |
| Capex | 19.49 | 1.48 | 2.13 | 13.81 | 12.43 | 3.86 | 11.29 | 3.85 | 3.02 |
| Free cash flow | −11.03 | 15.03 | −2.01 | −3.01 | 3.01 | 4.01 | 6.01 | 0.00 | 6.01 |
| CFO / OP % | 57.1% | 112.1% | 30.1% | 94.1% | 113.1% | 3,600.1% | 139.1% | 305.1% | 150.1% |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 59 | 64 | 74 | 75 | 64 | 50 | 38 | 41 | 39 |
| Inventory days | 140 | 111 | 121 | 111 | 122 | 119 | 88 | 102 | 170 |
| Days payable | 62 | 49 | 46 | 48 | 52 | 56 | 45 | 48 | 96 |
| Cash conversion cycle | 136 | 125 | 147 | 137 | 134 | 113 | 80 | 94 | 112 |
| Working capital days | 93 | 106 | 127 | 126 | 128 | 103 | 71 | 76 | 66 |
| ROCE % | — | 12.0% | 8.0% | 9.0% | 9.0% | 1.0% | — | 3.0% | 5.0% |
For the Sep 2026 quarter, Indag Rubber reported sales of ₹80.99 Cr, up 53.9% year on year and net profit of ₹3.07 Cr, up 7.0% year on year. The operating margin was 4.3%.
Indag Rubber's sales for the year to Mar 2026 were ₹215 Cr; over the last twelve months they were ₹268 Cr.
Net profit for the year to Mar 2026 was ₹8.04 Cr, and ₹12.32 Cr over the last twelve months. Earnings per share over the same trailing period were ₹5.25.
Indag Rubber reported borrowings of ₹18.07 Cr at Mar 2026, against cash and equivalents of ₹4.99 Cr.
Cash from operations was ₹8.99 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹6.01 Cr.