Press Release for Q4 and FY 25 Financial Results.
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Indag Rubber reported a weak FY25, with total revenue falling 9.3% YoY to Rs. 236.9 crores and profit after tax nearly halving to Rs. 8.4 crores from Rs. 16.7 crores a year earlier. EBITDA margin shrank sharply to 7.0% (vs 10.6% in FY24) on the back of abnormal rubber price hikes, lower volumes from the state transport undertaking (STU) business, and subdued government and private capex. For Q4 FY25 alone, revenue dipped to Rs. 57.9 crores (from Rs. 63.8 crores), EBITDA to Rs. 3.5 crores and PAT to Rs. 1.7 crores, showing the weakness extended to the final quarter. The Board declared a final dividend of Rs. 1.50 per share, taking the total FY25 dividend to Rs. 2.40 per share (120% of face value), supported by an earlier interim dividend of Rs. 0.90. Management stayed positive on FY26, citing expanding fleet operator reach, growing retreading preference, and sustainability/EPR regulations, while flagging risks from raw material volatility and new U.S. tariffs.
Sharp YoY decline in both revenue and profit, plus margin compression, is likely to be viewed negatively by the market in the short term. However, the unchanged/high dividend payout signals management's confidence in long-term cash flows, which may cushion the downside.