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Tinna Rubber and Infrastructure Q2 FY27 results: net profit up 44.8% to ₹17.04 crore, revenue up 31.0%
Tinna Rubber and Infrastructure Limited reported consolidated Q2 FY27 revenue of ₹156.59 crore, up 31.0% from a year earlier, and a net profit of ₹17.04 crore, up 44.8%. EBITDA rose 36.6% to ₹29.45 crore, while the margin increased 0.8 percentage points to 18.8%.
Key points
- Consolidated Q2 FY27 revenue rose 31.0% to ₹156.59 crore from ₹119.52 crore in Q2 FY26.
- EBITDA increased 36.6% to ₹29.45 crore, with the margin rising 0.8 percentage points to 18.8%.
- Net profit rose 44.8% to ₹17.04 crore and basic EPS increased 37.7% to ₹9.46.
- Against Q1 FY27, revenue rose 0.3% to ₹156.59 crore, but net profit fell 17.2% to ₹17.04 crore.
- H1 FY27 revenue was ₹312.77 crore, up 25.2%, while net profit rose 60.0% to ₹37.61 crore.
How did Tinna Rubber and Infrastructure perform in Q2 FY27?
Tinna Rubber’s consolidated Q2 FY27 revenue was ₹156.59 crore, against ₹119.52 crore in Q2 FY26 and ₹156.18 crore in Q1 FY27. EBITDA was ₹29.45 crore, up from ₹21.56 crore a year earlier but down from ₹33.90 crore in the previous quarter. The EBITDA margin was 18.8%, compared with 18.0% in Q2 FY26 and 21.7% in Q1 FY27.
The company reported a net profit of ₹17.04 crore, against ₹11.77 crore in Q2 FY26 and ₹20.57 crore in Q1 FY27. Basic EPS was ₹9.46, compared with ₹6.87 a year earlier and ₹11.42 in the previous quarter. On the standalone basis, revenue was ₹149.57 crore and net profit was ₹16.06 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 156.59 | 156.18 | 119.52 | +31.0% | +0.3% |
| Other income | 0.73 | 0.63 | 0.24 | +204.2% | +15.9% |
| Total expenses | 134.06 | 129.48 | 103.31 | +29.8% | +3.5% |
| EBITDA | 29.45 | 33.90 | 21.56 | +36.6% | −13.1% |
| EBITDA margin | 18.8% | 21.7% | 18.0% | +0.8 pp | −2.9 pp |
| Profit before tax | 23.26 | 27.33 | 16.45 | +41.4% | −14.9% |
| Tax | 6.38 | 6.93 | 4.56 | +39.9% | −7.9% |
| Net profit | 17.04 | 20.57 | 11.77 | +44.8% | −17.2% |
| EPS (₹) | 9.46 | 11.42 | 6.87 | +37.7% | −17.2% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Tinna Rubber and Infrastructure's costs and profit?
Compared with Q2 FY26, cost of materials rose ₹17.81 crore to ₹64.50 crore, employee cost increased ₹2.99 crore to ₹19.64 crore and other expenses increased ₹8.98 crore to ₹35.31 crore. Finance costs rose ₹0.26 crore to ₹2.64 crore, while depreciation increased ₹1.31 crore to ₹4.28 crore. Total expenses were ₹134.06 crore, up ₹30.75 crore.
Other income increased ₹0.49 crore to ₹0.73 crore, while tax expense rose ₹1.82 crore to ₹6.38 crore. There was no exceptional item. Profit before tax increased ₹6.81 crore to ₹23.26 crore, and net profit rose ₹5.27 crore to ₹17.04 crore. The filing did not state a reason for the changes in costs or other income.
Against Q1 FY27, total expenses rose ₹4.58 crore to ₹134.06 crore, even as cost of materials fell ₹1.31 crore to ₹64.50 crore and finance costs fell ₹0.25 crore to ₹2.64 crore. Employee cost rose ₹2.83 crore and other expenses increased ₹2.72 crore. Other income rose ₹0.10 crore, while tax fell ₹0.55 crore; net profit declined ₹3.53 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 64.50 | 46.69 | +17.81 | +38.1% |
| Employee cost | 19.64 | 16.65 | +2.99 | +18.0% |
| Finance costs | 2.64 | 2.38 | +0.26 | +10.9% |
| Depreciation | 4.28 | 2.97 | +1.31 | +44.1% |
| Other expenses | 35.31 | 26.33 | +8.98 | +34.1% |
| Total expenses | 134.06 | 103.31 | +30.75 | +29.8% |
| Other income | 0.73 | 0.24 | +0.49 | +204.2% |
| Tax | 6.38 | 4.56 | +1.82 | +39.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹312.77 crore, up ₹62.98 crore or 25.2% from ₹249.79 crore in H1 FY26. Total income increased 25.5% to ₹314.13 crore, while profit before tax rose 59.5% to ₹50.59 crore.
Net profit for H1 FY27 was ₹37.61 crore, up ₹14.1 crore or 60.0% from ₹23.51 crore. Basic EPS increased 52.2% to ₹20.87 from ₹13.71.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 312.77 | 249.79 | +25.2% |
| Profit before tax | 50.59 | 31.71 | +59.5% |
| Net profit | 37.61 | 23.51 | +60.0% |
| EPS (₹) | 20.87 | 13.71 | +52.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹559.84 crore, compared with ₹529.01 crore at 31 March 2026, while total equity rose to ₹332.85 crore from ₹300.42 crore. Borrowings declined to ₹111.42 crore from ₹120.63 crore, and cash was ₹1.29 crore against ₹1.07 crore.
Inventories increased to ₹83.93 crore from ₹76.4 crore, while trade receivables fell to ₹56.6 crore from ₹66.96 crore. Trade payables rose to ₹62.14 crore from ₹61.45 crore. H1 FY27 operating cash flow was ₹66.6 crore, compared with an outflow of ₹2.71 crore in H1 FY26.
Investing cash flow was an outflow of ₹45.18 crore, compared with an outflow of ₹24.56 crore, while financing cash flow was an outflow of ₹21.2 crore against an inflow of ₹33.43 crore. Capital expenditure was ₹45.29 crore in H1 FY27, compared with ₹29.04 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 559.84 | 529.01 |
| Total equity | 332.85 | 300.42 |
| Borrowings | 111.42 | 120.63 |
| Cash and equivalents | 1.29 | 1.07 |
| Inventories | 83.93 | 76.40 |
| Trade receivables | 56.60 | 66.96 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 66.60 | −2.71 |
| Cash from investing | −45.18 | −24.56 |
| Cash from financing | −21.20 | 33.43 |
| Capital expenditure | 45.29 | 29.04 |
Source: Company's results filing (XBRL).
How has Tinna Rubber and Infrastructure done over the last 8 quarters?
Revenue increased year on year in each of the last five quarters and profit increased year on year in each of the last four. Revenue peaked at ₹156.59 crore in Q2 FY27 and bottomed at ₹119.52 crore in Q2 FY26; the latest reading was only slightly above the previous quarter’s ₹156.18 crore.
Profit peaked at ₹20.57 crore in Q1 FY27 and bottomed at ₹8.16 crore in Q3 FY25, before declining to ₹17.04 crore in Q2 FY27. The EBITDA margin peaked at 21.7% in Q1 FY27 and was 18.8% in the latest quarter, after reaching 18.0% in Q2 FY26.
What did the auditors point out?
The auditors drew attention to Note 5 of the financial results and the issue concerning acquisition of land by Haryana State Industrial and Infrastructure Development Corporation Limited, on which the company’s Panipat plant is situated. The matter also referred to the Supreme Court’s dismissal during the quarter of the company’s curative petition and the compensation already sanctioned and proposed relocation of the plant.
The auditors stated that management viewed the matter as having no material financial impact on the financial results. They said their conclusion was not modified in respect of this matter.
What did Tinna Rubber and Infrastructure's management say?
Management maintained FY27 targets of approximately INR700 crore revenue, INR126 crore EBITDA and INR70 crore PAT. The company expects an EBITDA margin of 18% or more and at least 10% PAT conversion. Management said PCMB is expected to contribute 8%-10% of FY27 revenue, with about INR70 crore in FY27 and at least INR125 crore targeted for FY28.
Management said the 3,500 tpa MRP expansion is due in Q3 FY27, taking capacity to 20,000 tpa. Recovered carbon black production was expected in Q3 FY27, followed by commercial sales in Q4 FY27. The company plans to invest approximately INR250 crore over three years in a 40-acre Andhra Pradesh complex, with groundbreaking targeted for November 2026.
Management said the 24,000 tpa Saudi Arabia plant remains subject to geopolitical conditions, with no advances or work orders released. It also identified the unresolved representation concerning possible acquisition of the Panipat land, lower PCMB margins, and restrictions on using imported feedstock for pyrolysis as risks.
How did Tinna Rubber and Infrastructure shares react?
The stock fell 2.5% within five minutes of the filing appearing and 13.6% within 30 minutes. It closed 19.0% below its previous close on the reaction day and was down 18.7% by the next day’s close and 9.5% by the fifth session, measured cumulatively from the pre-results close.
The Rubber industry median fell 2.5% on the reaction day, 4.9% by the next day’s close and 3.4% by the fifth session. Tinna Rubber therefore underperformed the industry median by 16.5 percentage points on the reaction day, 13.8 percentage points by the next day’s close and 6.1 percentage points by the fifth session. Earlier reaction-day moves were positive on four occasions and negative on two.
| After the filing | Stock | Rubber median |
|---|---|---|
| 5 minutes | −2.5% | |
| 15 minutes | −12.0% | |
| 30 minutes | −13.6% | |
| Reaction day | −19.0% | −2.5% |
| Next day | −18.7% | −4.9% |
| 5 days | −9.5% | −3.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 20 July 2026 | +19.0% |
| 22 May 2026 | +4.7% |
| 7 February 2026 | +7.3% |
| 14 November 2025 | −2.3% |
| 6 August 2025 | −4.5% |
| 23 May 2025 | −3.8% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Tinna Rubber and Infrastructure's revenue in Q2 FY27?
Revenue from operations was ₹156.59 crore, up 31.0% from ₹119.52 crore in Q2 FY26 (consolidated).
Did Tinna Rubber and Infrastructure make a profit in Q2 FY27?
Yes. Net profit was ₹17.04 crore, against a net profit of ₹11.77 crore in Q2 FY26.
What was Tinna Rubber and Infrastructure's EPS in Q2 FY27?
Basic earnings per share were ₹9.46, against ₹6.87 in Q2 FY26.
How did Tinna Rubber and Infrastructure shares react to the Q2 FY27 results?
On the reaction day the stock moved −19.0% from the previous close; the median Rubber stock moved −2.5%.
When did Tinna Rubber and Infrastructure announce its Q2 FY27 results?
On 22 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting Scheduled To Be Held On Thursday, October 22, 2026 (BSE, 12 October 2026) · PDF
- Board Meeting Outcome for Board Of Directors Meeting Held On October 22, 2026 (BSE, 22 October 2026) · PDF
- Results - 30/September/2026 (BSE, 22 October 2026) · PDF
- The earnings call (29 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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