Standalone Financial Results (Rs. in lakhs)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from operations: ₹14,956.64 (vs ₹11,685.68 in Q2 FY26) - 28.0% increase
  • Other income: ₹72.54 (vs ₹23.55 in Q2 FY26)
  • Total income: ₹15,029.18 (vs ₹11,709.23 in Q2 FY26)
  • Profit before tax: ₹2,229.79 (vs ₹1,693.64 in Q2 FY26) - 31.7% increase
  • Tax expense: ₹623.72 (vs ₹459.84 in Q2 FY26)
  • Profit for the period: ₹1,606.07 (vs ₹1,233.80 in Q2 FY26) - 30.2% increase
  • Basic EPS: ₹8.91 (vs ₹7.01 in Q2 FY26)

Half-Year Performance (H1 FY27 vs H1 FY26)

  • Revenue from operations: ₹30,041.74 (vs ₹24,416.12 in H1 FY26) - 23.0% increase
  • Other income: ₹135.16 (vs ₹59.50 in H1 FY26)
  • Total income: ₹30,176.90 (vs ₹24,475.62 in H1 FY26)
  • Profit before tax: ₹4,931.55 (vs ₹3,171.46 in H1 FY26) - 55.5% increase
  • Tax expense: ₹1,314.26 (vs ₹839.40 in H1 FY26)
  • Profit for the period: ₹3,617.29 (vs ₹2,332.06 in H1 FY26) - 55.1% increase
  • Basic EPS: ₹20.08 (vs ₹13.41 in H1 FY26)

Expense Breakdown (H1 FY27)

  • Cost of material consumed: ₹13,053.98
  • Purchase of stock in trade: ₹2,229.61
  • Employee benefits expense: ₹3,280.47
  • Finance costs: ₹549.58
  • Depreciation and amortization: ₹774.30
  • Other expenses: ₹6,337.82

Consolidated Financial Results (Rs. in lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: ₹15,659.32
  • Profit before tax & share of profit: ₹2,326.13
  • Share of profit of associates: ₹15.64
  • Profit before tax: ₹2,341.77
  • Tax expense: ₹637.84
  • Profit for the period: ₹1,703.93
  • Basic EPS: ₹9.46

Half-Year Performance (H1 FY27)

  • Revenue from operations: ₹31,277.44
  • Profit before tax & share of profit: ₹5,058.78
  • Share of profit of associates: ₹33.04
  • Profit before tax: ₹5,091.82
  • Tax expense: ₹1,331.25
  • Profit for the period: ₹3,760.57
  • Basic EPS: ₹20.87

Financial Position (Standalone as at September 30, 2026)

Assets

  • Total assets: ₹54,398.64
  • Non-current assets: ₹37,907.86 (including Property, plant and equipment: ₹27,128.09)
  • Current assets: ₹16,490.78 (including Inventories: ₹7,721.95, Trade receivables: ₹5,180.94)

Equity and Liabilities

  • Total equity: ₹32,367.38 (Equity share capital: ₹1,801.58, Other equity: ₹30,565.80)
  • Non-current liabilities: ₹6,900.38
  • Current liabilities: ₹15,130.88

Cash Flow (Standalone H1 FY27)

  • Cash from operating activities: ₹6,660.01
  • Cash used in investing activities: ₹(4,723.99)
  • Cash from financing activities: ₹(1,935.01)
  • Net increase in cash: ₹4.01
  • Cash and equivalents at end: ₹93.30

Significant Developments

Subsidiary Update

The Company incorporated Tinna Rubber Chile SpA, a wholly owned subsidiary in Chile with authorized capital of Chilean Pesos 500,000,000 (divided into 5,00,00,000 equity shares of Chilean Pesos 10 each). The objective is to expand global footprint and strengthen global supply chain of end-of-life tyres (ELTs) through recycling and processing activities. Capital infusion is under process.

Land Acquisition Matter

The Company has an ongoing issue regarding its plant at Panipat, Haryana, established on land measuring 34 kanals and 8 marlas. Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) notified the land as part of an industrial area in FY2006-07.

  • HSIIDC has raised a demand of ₹373.27 lakhs for land allotment
  • The Special Leave Petition (SLP) filed by the Company before the Supreme Court was dismissed
  • The Company filed a curative petition before the Supreme Court, which was dismissed during the quarter
  • The Company has submitted a representation (May 15, 2025) to the Principal Secretary, Department of Industries, Government of Haryana seeking land release
  • The plant has been operational since 2001-02, before the acquisition notification (June 16, 2006)
  • The Company has not claimed compensation sanctioned by State Government
  • Management is evaluating alternatives for plant relocation and expects compensation
  • Management assessment indicates no material impact on operations or financial results

Auditor's Review

S S Kothari Mehta & Co. LLP conducted limited review and issued unmodified conclusion with emphasis of matter on the land acquisition issue. The auditors noted that management believes the matter will not have material financial impact.