Press Release for Q1-FY2026 Financial Results.
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Indag Rubber reported Q1 FY26 revenue of ₹48 crore, down 17% from ₹58 crore in Q1 FY25, mainly due to lower volumes in its State Transport Undertaking (STU) business and softer aftermarket demand. Despite the revenue decline, EBITDA margin improved to 8.2% from 7.1% (up 110 basis points) thanks to a better product mix and tighter cost control. Profit after tax stood at ₹1.8 crore versus ₹2.0 crore a year ago, though PAT margin edged up to 3.8% from 3.4%. The company remains optimistic about its domestic aftermarket business, citing a growing retreadable tyre base, formalisation of the industry through GST and anti-overloading norms, and supportive sustainability policies. Indag continues to focus on expanding its retreader network, brand visibility, R&D, and digital-led operational improvements.
Near-term earnings are weak because of a sharp revenue drop, but improving margins show the company can protect profitability. Shareholders should watch STU order flow and aftermarket demand as the key swing factors for the rest of FY26.