Indag Rubber Q1 FY27: Revenue up 26%, EBITDA up 108%
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Q1 FY27 total revenue grew 26% YoY to Rs 60.45 cr, driven by disciplined product mix, channel mix and pricing management. EBITDA surged 108% YoY to Rs 8.20 cr at 13.6% margin (up 533 bps). PAT nearly tripled to Rs 5.07 cr at 8.4% margin (up 456 bps). West Asia crisis pushed natural rubber and PBR to multi-year highs, being managed through price pass-through and sourcing diversification. Subsidiary Millenium Manufacturing commenced commercial production of Power Conversion Systems for BESS in Q1.
Strong margin expansion beats expectations. Subsidiary commercialization adds new growth vector. Stock may react positively to broad-based earnings beat.