MODI RUBBER LTD

Operates through three segments reported for FY26: travel services at 74.3% of segment revenue (Rs 25.83 crore), real estate services at 13.5% (Rs 4.69 crore), and others at 12.2% (Rs 4.24 crore). The business is run through subsidiaries and joint ventures, with the parent holding interests in eight subsidiary or JV entities including Asahi Modi Materials, Gujarat Guardian, Spin Investment, and Superior Investment. Through Gujarat Guardian Limited, a joint venture with Guardian International LLC USA, the company is associated with a float glass manufacturer that is installing a second float glass production line. Employee cost is the largest input at 54.5% of revenue, while materials are only 10.9%, reflecting a service-and-investment mix rather than a goods-intensive operation. EBIT margins differ sharply by segment: real estate services at 65%, others at 39.6%, and travel services at 20.6%. The promoter-group entity Modi Industries Limited holds 8,00,000 equity shares of the company.