Manufactures engineered rubber products for Indian Railways, infrastructure projects, and commercial/industrial buyers from RDSO- and MoRTH-certified facilities. Railway pads and sole plates — composite grooved rubber pads, nylon-cord-reinforced grooved rubber sole plates, vestibules, level crossings — are about 55% of revenue, sold almost entirely to Indian Railways zones (recent orders include Rs 47.46 crore from Eastern Railway, Rs 19.97 crore from South Eastern Railway, Rs 4.20 crore from Southern Railway, Rs 3.84 crore from North Central Railway, and Rs 3.44 crore from South Central Railway). Infrastructure products such as bridge bearings and expansion joints make up about 40% of revenue. The remaining share is commercial/industrial rubber items like rubber sheets, gym mats and cow mats. The company is in trials for rubberized wheels for the Arjun tank (18 units supplied, with a potential ~180-piece follow-on order) and is setting up a conveyor belt line funded by IPO proceeds, with revenue expected from FY27. Costs are dominated by raw materials at 64.4% of revenue, with employees at 9.7% and other operating expenses at 11.1%; capex ran at 23.9% of revenue in FY26. H1 FY26 EBITDA was Rs 11.43 crore at a 26.63% margin. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Railway products (55%), Infrastructure products (40%), Commercial and industrial rubber products, Defense products, Conveyor belts. Materials-intensive, order-driven rubber engineering for rail and infrastructure with a small export book.
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 123 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 5.62 |
| ROE % · ROCE % | — · 18.8 |
| Debt / equity (x) | — |
| Cash from operations | 2 |
| Capex | (29) |
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 43 | 81 |
| Profit before tax | 6 | 3 |
| Net profit | — | — |
| EPS (₹) | 5.28 | 1.74 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| APCOTEX INDUSTRIES LIMITE | 3,130 | 19.4 | 5.04 | — | 16.3 | 19.6 | — | 22.8 |
| PIX TRANSMISSIONS LIMITED | 2,347 | 17.8 | 3.37 | 13.3 | 15.3 | 19.2 | 7.8 | 49.0 |
| TINNA RUBBER AND INFR LTD | 1,867 | 29.8 | 6.21 | 20.8 | 17.6 | 20.1 | 33.2 | 22.1 |
| GRP LIMITED | 1,021 | 180.2 | 5.73 | 29.6 | 1.8 | 2.9 | 13.9 | 11.1 |
| RUBFILA INTERNATIONAL LTD | 374 | 14.2 | 1.21 | 7.5 | 8.6 | 10.9 | 13.3 | 8.1 |
| HARRISON MALAYALAM LTD | 342 | 12.6 | 1.91 | 9.2 | 16.3 | 10.1 | 3.6 | 7.1 |
| ELGI RUBBER CO. LTD | 290 | — | 3.84 | — | (317.4) | (143.8) | 1.3 | 79.5 |
| AMEENJI RUBBER LIMITED ◆ | 248 | 31.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Ameenji Rubber gets Rs 3.16 crore order from Northeast Frontier Railway | business updates | medium | — | — |
| 10 Sept 2026 · Ameenji Rubber bags Rs 24.15 crore railway supply order from NWR Jaipur | business updates | high | — | — |
| 8 Sept 2026 · Newspaper publication of 20th AGM notice | compliance | minimal | — | — |
| 7 Sept 2026 · Annual Report FY2025-26 and AGM Notice filed with BSE | results | high | — | — |
| 7 Sept 2026 · 20th AGM on Sept 30, 2026; proposes Rs 450 Cr borrowing limit | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Notice of 20th AGM on September 30, 2026 via video conference | compliance | minimal | — | — |
| 29 Aug 2026 · Board approves new CFO, cost auditor for FY27, and 20th AGM on Sept 30 | management changes | high | — | — |
| 29 Aug 2026 · Ameenji Rubber appoints Mr. Kaushik Mehta as CFO | management changes | high | — | — |
| 29 Aug 2026 · Board appoints new CFO Kaushik Mehta, sets Sept 30 AGM | management changes | high | — | — |
| 20 Aug 2026 · Ameenji Rubber bags Rs 3.68 cr order from Southern Railway | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| — |
| — |
| — |
| 11.2 |
| — |
| — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 31.3 | 17.6 | 9 of 10 | 11% |
| ROCE | 11.2 | 10.9 | 5 of 11 | 60% |
| Market cap | 248 | 342 | 8 of 11 | 30% |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
