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Dolfin Rubbers (BSE 542013)₹172.00−1.35%Tyres & Rubber Products
In the Mar 2026 quarter (standalone), Dolfin Rubbers reported sales of ₹48.54 Cr, up 23.3% from Mar 2025, and net profit of ₹1.62 Cr, up 5.9% year on year. For the year to Mar 2026, sales were ₹170 Cr and net profit ₹5.99 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 27.57 | 36.57 | 27.01 | 34.57 | 38.56 | 33.64 | 31.80 | 39.37 | 40.17 | 39.82 | 40.93 | 48.54 |
| Expenses | 25.85 | 34.00 | 25.19 | 32.15 | 35.65 | 31.70 | 30.15 | 36.63 | 37.53 | 38.08 | 39.00 | 46.05 |
| Operating Profit | 1.78 | 2.68 | 1.85 | 2.46 | 2.97 | 1.98 | 1.71 | 2.80 | 2.68 | 1.84 | 1.99 | 2.54 |
| OPM % | 6.4% | 7.3% | 6.8% | 7.0% | 7.6% | 5.8% | 5.3% | 7.1% | 6.6% | 4.6% | 4.8% | 5.2% |
| Other Income | 0.11 | 0.00 | 0.07 | 0.25 | 0.08 | 0.00 | 0.21 | 0.10 | 0.06 | 0.09 | 0.50 | 0.26 |
| Interest | 0.28 | 0.30 | 0.27 | 0.24 | 0.28 | 0.16 | 0.25 | 0.30 | 0.32 | 0.27 | 0.31 | 0.23 |
| Depreciation | 0.35 | 0.36 | 0.37 | 0.39 | 0.35 | 0.49 | 0.42 | 0.42 | 0.43 | 0.44 | 0.46 | 0.47 |
| Profit before tax | 1.27 | 2.02 | 1.29 | 2.09 | 2.43 | 1.34 | 1.26 | 2.19 | 2.00 | 1.23 | 1.73 | 2.11 |
| Tax % | 30.9% | 26.8% | 27.3% | 28.3% | 24.4% | 21.0% | 43.2% | 28.8% | 35.1% | 11.5% | 11.0% | 22.4% |
| Net Profit | 0.86 | 1.45 | 0.91 | 1.48 | 1.83 | 1.03 | 0.70 | 1.53 | 1.28 | 1.07 | 1.53 | 1.62 |
| EPS (Rs) | 0.86 | 1.45 | 0.91 | 1.48 | 1.82 | 1.03 | 0.70 | 1.53 | 1.28 | 1.07 | 1.55 | 1.64 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 53.89 | 69.84 | 76.81 | 81.83 | 83.87 | 102 | 126 | 144 | 170 | 169 |
| Expenses | 51.96 | 66.98 | 72.93 | 77.93 | 77.99 | 95.01 | 117 | 134 | 161 | 161 |
| Operating Profit | 3.01 | 3.01 | 4.01 | 5.01 | 6.01 | 7.01 | 9.03 | 9.02 | 9.03 | 9.05 |
| OPM % | 4.7% | 4.9% | 5.0% | 6.0% | 7.0% | 6.0% | 7.0% | 7.0% | 5.0% | 5.3% |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 | 0.91 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.13 |
| Depreciation | 0.99 | 0.99 | 1.01 | 0.99 | 0.99 | 0.99 | 1.99 | 1.99 | 1.99 | 1.80 |
| Profit before tax | 2.01 | 3.01 | 3.01 | 4.01 | 4.02 | 5.02 | 7.03 | 7.02 | 7.03 | 7.07 |
| Tax % | 27.0% | 36.0% | 26.0% | 30.0% | 27.0% | 27.0% | 28.0% | 27.9% | 21.0% | — |
| Exceptional items | −0.05 | −0.04 | −0.02 | 0.02 | 0.00 | −0.02 | 0.00 | 0.05 | 0.00 | — |
| Net Profit | 0.99 | 1.99 | 2.99 | 2.99 | 2.99 | 2.99 | 4.99 | 4.99 | 5.99 | 5.50 |
| EPS (Rs) | 1.76 | 1.86 | 2.55 | 2.83 | 2.79 | 3.29 | 4.73 | 5.09 | 5.53 | 5.54 |
| Dividend payout % | 0.0% | 0.0% | 29.0% | 32.0% | 0.0% | 36.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6.01 | 8.01 | 8.01 | 8.01 | 8.01 | 10.01 | 10.02 | 10.01 | 10.01 |
| Reserves | 2.01 | 8.01 | 10.01 | 12.02 | 14.01 | 15.01 | 18.01 | 23.01 | 29.04 |
| Borrowings | 3.99 | 1.99 | 3.99 | 10.98 | 9.99 | 12.98 | 14.99 | 17.97 | 18.97 |
| Other Liabilities | 8.03 | 8.01 | 9.03 | 10.05 | 15.07 | 20.06 | 20.09 | 22.09 | 25.11 |
| Total Liabilities | 20.04 | 25.02 | 31.04 | 40.06 | 47.08 | 58.06 | 63.11 | 73.08 | 83.13 |
| Fixed Assets | 9.03 | 9.02 | 11.03 | 18.05 | 19.06 | 20.04 | 25.08 | 26.06 | 29.09 |
| CWIP | 0.00 | 1.99 | 3.99 | 0.00 | 0.99 | 2.01 | 0.00 | 0.00 | 0.99 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 11.01 | 14.01 | 16.02 | 23.01 | 27.03 | 36.01 | 38.03 | 47.02 | 53.05 |
| Inventories | 1.53 | 3.03 | 3.15 | 7.60 | 12.93 | 16.38 | 19.73 | 25.32 | 33.00 |
| Trade receivables | 7.98 | 9.34 | 11.43 | 12.29 | 11.69 | 15.06 | 15.38 | 17.61 | 15.69 |
| Cash & equivalents | 0.57 | 0.16 | 0.16 | 0.24 | 0.28 | 0.80 | 0.82 | 0.85 | 0.92 |
| Total Assets | 20.04 | 25.02 | 31.04 | 40.06 | 47.08 | 58.06 | 63.11 | 73.08 | 83.13 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 1.99 | −2.01 | 2.01 | 2.01 | 2.01 | 2.01 | 4.99 | 4.01 | 5.01 |
| Cash from investing activity | −0.99 | −2.99 | −3.99 | −1.99 | −2.99 | −3.99 | −3.99 | −3.99 | −3.99 |
| Cash from financing activity | 0.00 | 4.98 | 1.99 | 0.99 | 0.99 | 1.99 | −1.99 | −0.99 | −0.99 |
| Net cash flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 0.00 | 0.00 | 0.00 |
| Capex | 1.48 | 2.57 | 4.36 | 3.83 | 3.43 | 3.83 | 4.31 | 3.03 | 5.37 |
| Free cash flow | 0.99 | −4.99 | −1.99 | −2.01 | −1.01 | −1.99 | 0.99 | 0.99 | −0.99 |
| CFO / OP % | 105.0% | −43.0% | 80.0% | 50.0% | 49.0% | 44.0% | 78.0% | 67.0% | 71.0% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 54 | 49 | 54 | 54 | 51 | 54 | 45 | 45 | 34 |
| Inventory days | 16 | 25 | 25 | 53 | 93 | 95 | 91 | 103 | 111 |
| Days payable | 45 | 19 | 26 | 21 | 29 | 39 | 21 | 13 | 21 |
| Cash conversion cycle | 24 | 54 | 52 | 86 | 114 | 109 | 114 | 135 | 122 |
| Working capital days | 3 | 29 | 31 | 33 | 45 | 49 | 46 | 48 | 46 |
| ROCE % | — | 21.0% | 18.0% | 16.0% | 15.0% | 16.0% | 19.0% | 17.0% | 15.0% |
For the Mar 2026 quarter, Dolfin Rubbers reported sales of ₹48.54 Cr, up 23.3% year on year and net profit of ₹1.62 Cr, up 5.9% year on year. The operating margin was 5.2%.
Dolfin Rubbers' sales for the year to Mar 2026 were ₹170 Cr; over the last twelve months they were ₹169 Cr.
Net profit for the year to Mar 2026 was ₹5.99 Cr, and ₹5.50 Cr over the last twelve months. Earnings per share over the same trailing period were ₹5.54.
Dolfin Rubbers reported borrowings of ₹18.97 Cr at Mar 2026, against cash and equivalents of ₹0.92 Cr.
Cash from operations was ₹5.01 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹0.99 Cr.