Indag Rubber Ltd

AGM highlights

• FY2025-26 total income ~Rs225 crore; PBT Rs22.43 crore; PAT Rs12.38 crore.
• Dividend: interim Rs0.90; final Rs1.50 proposed; total Rs2.40 per equity share.
• Re-appointment of Independent Director Raj Kumar Agrawal for second 5-year term (2026-2031).
• Remuneration of Shome & Banerjee, Cost Auditors, to be ratified for FY2026-27.
• Approval for payment of Commission to Non-Executive Directors for FY2026-27, 2027-28 and 2028-29.
• FY2025-26: launched WinMaster and Retrex; EV line introduced; outlook volatile due to crude oil costs.
• Millennium Manufacturing Systems Pvt. Ltd. contributed to revenue with its first commercial order.
• Working capital cycle 70 days; receivables 32 days; payables 44 days.
• Industry outlook favorable due to road infrastructure expansion, radialization, and EV adoption.
• AGM conducted via video conference; voting results to be announced after Scrutinizer report.

Business Overview

• Tyre retreading materials and solutions with pan-India depots/retreader network.
• Diversified into Millenium Manufacturing Systems (EMS) for green energy.
• New tread ranges for EVs and LCVs broaden portfolio.
• Pan-India network: 15+ depots, 300+ dealers, 3,000 retreaders, 50+ sales/tech teams.

Operational Highlights

• Q1 FY27 revenue ₹60.4 Cr; EBITDA ₹8.2 Cr; PAT ₹5.1 Cr; gross 37.1%, PAT 8.4%.
• Precured tread rubber capacity: 20,000 MT p.a.; gum: 5,000 MT p.a.
• Millenium commenced commercial production and dispatches in Q1 FY27.
• Pan-India network expanded: 15+ depots, 300+ dealers, 3,000 retreaders.

Financial Performance

• Total revenue ₹60.4 Cr; gross profit ₹22.4 Cr; EBITDA ₹8.2 Cr; PAT ₹5.1 Cr; EPS ₹1.93.
• Gross margin 37.1%; EBITDA margin 13.6%; PAT margin 8.4%.
• YoY revenue growth 26%.

Capital Structure & Liquidity

• Consolidated equity ₹235.6 Cr; cash ₹3.6 Cr; total assets ₹278.5 Cr.
• Dividend payout maintained.

Strategic Priorities & Outlook

• Focus on price discipline and raw-material hedging via pass-through and supplier diversification.
• Millenium growth: Mohali facility; beta orders delivered; first commercial serial order FY26; Q1 production.
• EV-ready tread patterns; R&D at Nalagarh; pan-India coverage.

Risks & Mitigation

• Raw-material inflation risk; mitigated by price pass-through and supplier diversification.

Governance & Leadership

• No material governance changes; leadership includes CEO Vijay Shrinivas and directors.

Financial highlights

• Total revenue ₹60.45 crore, up 26% year-on-year.
• EBITDA ₹8.20 crore, margin 13.6%.
• PAT ₹5.07 crore, margin 8.4%.

Operational development

• Subsidiary Millenium Manufacturing Systems commenced commercial production and dispatches.

Cost dynamics

• West Asia input costs surged; management is using price pass-through and diversification.

Management focus

• Management emphasizes disciplined product mix, pricing, and channel engagement to sustain long-term value.

Other business

• Millenium Manufacturing Systems continues EMS production in the power-electronics segment.

Standalone financials

• Revenue from operations: ₹5,755.20 lakh, up ~27.9% YoY.
• Total income: ₹6,044.83 lakh, up ~26% YoY.
• Profit before tax: ₹678.39 lakh.
• Profit after tax: ₹507.49 lakh.
• EPS (basic/diluted): ₹1.93 (Q1 FY2027).

Consolidated financials

• Revenue from operations: ₹7,008.79 lakh.
• Total income: ₹7,315.13 lakh.
• Profit after tax: ₹503.86 lakh.
• EPS (basic): ₹1.93 (quarter).

Segment details

• Precured Tread Rubber segment revenue: ₹5,755.20 lakh.
• Electronics including green energy storage revenue: ₹1,253.59 lakh.
• Total segment revenue: ₹7,008.79 lakh; PBIT mix: ₹436.89 lakh ( Rubber) and ₹6.82 lakh (Electronics).

Financial results

• Unaudited standalone and consolidated results approved for quarter ended June 30, 2026.

Board decision context

• Approval based on Audit Committee recommendation.

Meeting details

• Meeting held on August 13, 2026, from 15:00 to 19:45 IST.

Additional disclosures

• Results available on the company's website.

AGM details

• Date and time: 12 August 2026, 5:00 PM IST.
• Mode: VC/OAVM.
• Record date for voting: 5 August 2026.
• Total shareholders on record date: 11,860.

Resolutions and results

• Item 1 (Ordinary): Adoption of standalone and consolidated financials; passed.
• Item 2 (Ordinary): Final dividend and interim dividend for FY 2025-26; passed.
• Item 3 (Ordinary): Re-appointment of Shiv Vikram Khemka on rotation; passed.
• Item 4 (Ordinary): Ratification of remuneration of Cost Auditors for FY 2026-27; passed.
• Item 5 (Special): Re-appointment of Raj Kumar Agrawal as Independent Director for second term; passed.
• Item 6 (Ordinary): Payment of Commission to Non-Executive Directors for FY 2026-27 to 2028-29; passed.

Director changes

• Re-appointment of Shiv Vikram Khemka as director (rotation).
• Re-appointment of Raj Kumar Agrawal as Independent Director for second term of five years.

Auditors and remuneration

• Remuneration of Cost Auditors ratified for FY 2026-27.

Dividend

• Final dividend declared and interim dividend approved for FY 2025-26; per-share amount not disclosed.

AGM Details

• AGM held on 12 August 2026 at 05:00 P.M. IST via VC/OAVM at the registered office.

Resolutions put to vote

• Adoption of audited standalone and consolidated financial statements for the financial year.
• Declaration of final dividend per equity share.
• Re-appointment of director retiring by rotation.
• Ratification of remuneration of Cost Auditors for the year.
• Re-appointment of Independent Director for second term of five years.
• Approval for payment of commission to non-executive directors for the period.

Voting status

• Voting results to be announced after the Scrutinizer's consolidated report.

Director changes

• Independent Director re-appointed for second term of five years.

Auditor matters

• Remuneration of Cost Auditors ratified.

Meeting Details

• Date: August 13, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated results for quarter ended June 30, 2026.

Other Notes

• Trading window closed from July 01, 2026 to August 15, 2026 (inclusive).