Financial results for the quarter and year ended March 31, 2026
TOLINS · price
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Tolins Tyres reported audited standalone revenue of ₹2,213.74 million for FY26, up 24% from ₹1,783.53 million in FY25, driven by higher tyre sales volume. However, standalone profit after tax fell 28% to ₹150.42 million from ₹207.62 million, with net profit margin compressing to 6.79% from 11.64% due to rising raw material costs and inventory buildup. Consolidated PAT was ₹356.85 million versus ₹386.82 million. The company expanded working capital significantly — inventories rose to ₹1,144.81 million from ₹808.30 million, and trade receivables nearly doubled to ₹1,029.59 million from ₹573.27 million. Finance costs dropped sharply to ₹10.20 million from ₹36.78 million. Current ratio improved to 15.38x from 11.65x, and debt-equity ratio remains low at 0.0115x. The auditors issued an unmodified opinion with no going concern issues.
Revenue growth of 24% is positive, but the sharp 28% PAT decline and margin compression indicate cost pressures are squeezing profitability. The significant rise in receivables (83% increase) and inventory buildup raises concerns about cash flow quality. The strong current ratio and low leverage provide balance sheet cushion. Near-term stock may face pressure due to earnings decline despite revenue growth.