Tinna Rubber And Infrastructure Limited reported exceptional financial performance for FY 2025-26 with standalone revenue growing 5.6% to ₹5,332.3 crore and net profit increasing 26% to ₹532.4 crore, achieving record margins of 17.2% EBITDA and 10.0% PAT. The company demonstrated strong operational performance with tyre crushing volumes increasing 13% YoY to 155,000 TPA, supported by capacity expansion to 185,000 TPA in India and 85% utilization in Oman operations.
Capital raising activities were significant with a successful QIP issuance of 886,257 shares at ₹888 per share, raising ₹786.9 crore net of expenses. Funds were utilized for expansion projects (₹334.6 crore), debt repayment (₹230.2 crore), and general corporate purposes. The Board recommended a final dividend of ₹3.25 per share, subject to approval at the 39th AGM scheduled for September 15, 2026.
Expansion initiatives included ₹107 crore capex in FY26 with additional ₹100 crore planned over FY27-28, targeting capacity increase to 235,000 TPA in India. The company expanded solar capacity to 4.48 MW, achieving 50% renewable power usage target and reducing CO2 emissions by 10.37 million kg. International operations progressed with South Africa JV commencing exports and Saudi Arabia project land allocation completed.
Auditors issued an unmodified opinion but highlighted several compliance observations including title deed issues for three land parcels worth ₹530.4 lakh not registered in company's name, and discrepancies in quarterly bank filings with inventory differences of ₹141.4 lakh. Contingent liabilities stood at ₹244.5 crore including disputed taxes of ₹118.2 crore and export obligations of ₹358.4 crore.
The company maintained strong financial ratios with ROCE at 23.0%, ROE at 18.71%, and reduced net debt-to-equity to 0.39x. CSR spending of ₹89.4 lakh met the 2% requirement, focusing on education, healthcare, and environmental sustainability. Looking ahead, Tinna Rubber targets ₹1,000 crore revenue by 2029 with 25% revenue CAGR and 33% profit CAGR, capitalizing on the growing global tyre recycling market projected to reach USD 9-10 billion by 2030.