Transcript of 46th AGM of the Company held on Tuesday, August 12, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indag Rubber's 46th AGM transcript reveals a weak FY25: total revenue fell to about Rs. 237 crore from Rs. 261 crore, and profit after tax nearly halved to Rs. 8.41 crore from Rs. 16.75 crore. Management blamed reduced volumes from state transport undertakings (tender-based) and abnormal 40% spike in natural rubber prices that squeezed margins. Despite the profit dip, the company maintained a total dividend of Rs. 2.40 per share (interim Rs. 0.90 + final Rs. 1.50 recommended). Strategy is now pivoted toward growing the private fleet segment via education on retreading economics, expanding the authorized retreader network to over 3,000 partners, and 15 depots nationwide. The company highlighted operational wins including a working capital cycle cut from 120 to 70 days, DSO down from 70 to 35 days, SAP/Salesforce digitisation, plant automation, and a new Win Master product launched at Bharat Mobility 2025.
Shareholders should note that earnings have been hurt by both demand softness in public-sector tenders and raw material inflation, but the dividend is being sustained, signalling confidence in cash flows. With no US export exposure, US tariffs are not a concern, while the focus on private fleet growth, cost discipline, and retreading's role in India's circular economy provides a reasonable medium-term recovery story.