Elgi Rubber Company Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
ELGIRUBCO · price
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Elgi Rubber Company reported its unaudited Q3 FY26 (quarter ended Dec 31, 2025) results with standalone revenue from operations rising about 17% YoY to Rs. 6,245.73 lakhs, but posting a standalone loss after tax of Rs. 9,480.76 lakhs (EPS Rs. -18.94), heavily hit by exceptional items of Rs. 7,666.45 lakhs. On a consolidated basis, revenue was Rs. 10,009.28 lakhs with a loss after tax of Rs. 2,866.51 lakhs. The Board approved reversal of Rs. 22.18 million in interest receivable from three overseas wholly-owned subsidiaries (USA, Brazil, Netherlands) due to recoverability concerns. The company also fully impaired its investment and loans in step-down subsidiary Rubber Resources B.V., Netherlands (Rs. 7,644.80 lakhs combined), which subsequently filed for bankruptcy in January 2026. Additionally, the Board approved sale of 7.24 acres of non-core land on Trichy Road, Coimbatore, with proceeds earmarked for debt reduction. Statutory auditors Arun & Co issued an unmodified opinion, with an emphasis-of-matter note on the subsidiary bankruptcy.
Shareholders should brace for continued pressure on earnings as the loss-making overseas subsidiaries, especially the Netherlands step-down subsidiary going bankrupt, drag down the consolidated picture. The planned land sale could provide cash to trim debt, but the massive one-time impairments signal significant erosion of overseas asset value.