Indag Rubber Limited announced its audited financial results for the quarter and half year ended September 30, 2026, via a press release submitted to BSE Limited.

Financial Performance (Standalone Basis, including other income)

Q2 FY27 Performance (YoY Comparison):

  • Total Revenue: ₹69.8 crore, increased 27.0% from ₹55.0 crore in Q2 FY26.
  • EBITDA: ₹5.6 crore, decreased 10% from ₹6.2 crore in Q2 FY26.
  • EBITDA Margin: 8.0%, declined 324 basis points from 11.3% in Q2 FY26.
  • Profit After Tax (PAT): ₹3.3 crore, decreased 9% from ₹3.6 crore in Q2 FY26.
  • PAT Margin: 4.7%, declined 188 basis points from 6.6% in Q2 FY26.

H1 FY27 Performance (YoY Comparison):

  • Total Revenue: ₹130.3 crore, increased 26.5% from ₹103.0 crore in H1 FY26.
  • EBITDA: ₹13.8 crore, increased 36% from ₹10.1 crore in H1 FY26.
  • EBITDA Margin: 10.6%, improved 74 basis points from 9.9% in H1 FY26.
  • Profit After Tax (PAT): ₹8.4 crore, increased 53% from ₹5.5 crore in H1 FY26.
  • PAT Margin: 6.4%, improved 111 basis points from 5.3% in H1 FY26.

Dividend Declaration

The Board declared an interim dividend of ₹0.90 per equity share of face value ₹2 for FY27. The record date for the dividend is November 16, 2026.

Management Commentary

Mr. Vijay Shrinivas, CEO & Whole Time Director, commented on the results. He attributed the Q2 revenue growth of 27% YoY to ₹69.84 crore to higher sales volumes. He noted that raw-material costs remained high in Q2 FY27 following the 2026 West Asia escalation, which weighed on the quarter's margins. The company is managing this through calibrated price pass-through, raw-material monitoring, and supplier and geography diversification.

He highlighted the strong value proposition of the retreading industry:

  • Economically: A retreaded tyre saves up to ~70% of new tyre cost and brings cost-per-kilometre down to nearly a third.
  • Environmentally: A retreaded tyre saves 57 litres of oil, 44kg of rubber, and results in ~136 kg of lower CO₂ emissions versus a new tyre.

Subsidiary Update

The company's subsidiary, Millenium Manufacturing Systems – an EMS provider in the power-electronics segment for the global green energy transition – has completed its first commercial serial order. All systems have been invoiced and despatched to the customer in Europe.

Company Background

Indag Rubber Limited (IRL) was founded by the Khemka Group in the early 80s and pioneered the introduction of Cold Retreading Technology in India. It has a state-of-the-art manufacturing unit 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.