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Eastern Treads Ltd (531346)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531346 NSE: Rubber Products | Small Cap | Eastern Treads Share Price

₹27.05 -0.41 (-1.49%)

As on 05-Jun'26 09:07

Eastern Treads Ltd (531346)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531346 NSE: Rubber Products | Small Cap | Eastern Treads Share Price

₹27.05 -0.41 (-1.49%)

As on 05-Jun'26 09:07

Key Metrics
Valuation Multiples
Market Cap
₹14 Cr.
Current Price
₹27.1
52-Week Low / High
₹25 / 38
TTM EPS
₹0.2
TTM Sales
₹62.4 Cr.
Book Value per Share
₹-32.9
P/E Ratio
167.03
Industry PE
26.4
Price to Book (P/B)
-0.84
Higher than its 5-year historical median
Price to Sales (P/S)
0.23
Lower than its 5-year historical median
EV/EBITDA
41.00
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
-7.96%
Underperforms industry median
Return on Assets (ROA)
-8.78%
Operating Profit Margin
-3.6%
Net Profit Margin
-5.03%
Gross Profit Margin
-4.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
1.18%
Operating Profit Growth (1 Year)
-
-1769.23%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
65.48%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-22 Cr.
Equity
₹5.2 Cr.
Face Value
₹10
All Time Low / High
₹3.35 / 259.00

Eastern Treads stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Eastern Treads Ltd a good quality company?
Eastern Treads Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Eastern Treads Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Eastern Treads Ltd vs industry peers?
Eastern Treads Ltd revenue CAGR is -4.90%, compared to the industry median CAGR of 8.96%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Eastern Treads Ltd?
Promoters hold 65.48% of the Eastern Treads Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Eastern Treads Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -13.5% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Eastern Treads Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 25%15.8%2.3%4.8%5.6%6.1%-19.6%-17.3%-0.8%-8%-
Value Creation
Index
0.80.1-0.8-0.7-0.6-0.6NANANANA-

Growth Parameters

Sales 87.690.694.497.577.566.672.359.859.560.262
Sales YoY Gr.-3.4%4.2%3.3%-20.5%-14%8.5%-17.2%-0.5%1.2%-
Adj EPS 6.52.5-4.4-3.3-2.2-1.1-18.5-13.8-5.6-5.80.2
YoY Gr.--61.4%-273.8%NANANANANANANA-
BVPS (₹) 17.223.718.614.912.711.6-7.6-21.7-27-33-32.9
Adj Net
Profit
3.41.3-2.3-1.7-1.1-0.6-9.7-7.2-3-30
Cash Flow from Ops. 5.6-0.53.52-1.34.51.44.82.90.5-
Debt/CF from Ops. 1.3-43.97.414.2-25.47.423.4710.772.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -4.1%-4.9%-5.9%1.2%
Adj EPS -198.7%NANANA
BVPS-207.5%-221.1%NANA
Share Price -13.9% -12.8% -7.7% -22.7%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
19.28.3-20.4-19.1-15.2-8.8-286.3226.835.727-0.5
Op. Profit
Mgn %
8.66.52.845.56.1-7.2-4.80.2-3.61.3
Net Profit
Mgn %
3.91.5-2.4-1.8-1.5-0.9-13.4-12.1-5-50.1
Debt to
Equity
0.41.72.63.64.95.3-8.6-3-2.2-2-
Working Cap
Days
10612213313217220116514512711967
Cash Conv.
Cycle
35576971107131111936753-52

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales87.5990.5994.3997.4677.4566.6072.2859.8459.5360.23
Operating Expenses + 80.0284.7091.7193.5873.1762.5577.4762.7259.4062.40
Manufacturing Costs5.254.946.897.627.086.166.605.575.855.56
Material Costs58.2465.0970.1268.7651.2243.6852.6641.1638.5342.87
Employee Cost 7.347.558.489.989.828.109.729.979.649
Other Costs 9.207.126.227.235.054.608.496.025.394.97
Operating Profit 7.575.892.683.884.284.05-5.20-2.880.13-2.17
Operating Profit Margin (%) 8.6%6.5%2.8%4.0%5.5%6.1%-7.2%-4.8%0.2%-3.6%
Other Income + 0.110.700.220.480.330.490.340.080.941.68
Exceptional Items 0000000000
Interest 1.382.973.273.613.233.313.203.232.972.46
Depreciation 1.161.822.112.632.472.121.831.651.220.84
Profit Before Tax 5.141.81-2.48-1.89-1.10-0.89-9.89-7.68-3.12-3.78
Tax 1.730.49-0.18-0.180.03-0.32-0.21-0.45-0.17-0.75
Profit After Tax 3.411.32-2.29-1.71-1.12-0.57-9.68-7.23-2.95-3.03
PAT Margin (%) 3.9%1.5%-2.4%-1.8%-1.5%-0.9%-13.4%-12.1%-5.0%-5.0%
Adjusted EPS (₹)6.52.5-4.4-3.3-2.2-1.1-18.5-13.8-5.6-5.8
Dividend Payout Ratio (%)15.30%19.90%0%0%0%0%0%0%0%0%

Valuation of Eastern Treads - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 19.1712.589.9086.816.270.48-6.86-9.66-12.79
Share Capital 15.415.415.415.415.415.415.415.415.415.41
Reserves 3.767.164.492.581.400.86-4.93-12.27-15.07-18.20
Debt +5.4219.2124.0727.4332.3827.3625.7824.9018.9423.61
Long Term Debt2.528.698.277.965.207.8915.5713.357.506.11
Short Term Debt2.9010.5215.8019.4727.1919.4710.2111.5511.4417.50
Minority Interest0000000000
Trade Payables8.9312.8014.7712.668.929.017.526.169.499.02
Others Liabilities 6.638.887.147.546.3510.4613.2513.3716.6013.86
Total Liabilities 40.1453.4655.8955.6354.4753.1047.0437.5735.3733.71

Fixed Assets

Net Fixed Assets +11.0815.9615.8916.8714.331216.0314.2913.5112.27
Gross Block18.8517.7819.8023.2222.8222.3527.5826.8427.1626.30
Accumulated Depreciation7.771.823.926.348.4810.3511.5612.5513.6514.04
CWIP 0.260.362.530.180.160.240.17000.16
Investments 0000.030.030.030000
Inventories8.2510.148.138.6110.5010.437.497.257.155.87
Trade Receivables11.6324.0125.6726.5325.7425.6619.9913.0612.0911.76
Cash Equivalents 0.541.201.661.170.791.241.591.281.281.20
Others Assets 8.371.792.012.252.923.511.771.681.352.44
Total Assets 40.1453.4655.8955.6354.4753.1047.0437.5735.3733.71

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 5.62-0.493.512-1.324.461.404.802.900.46
PBT 5.141.81-2.48-1.89-1.10-0.89-9.89-7.68-3.12-3.78
Adjustment 2.374.365.437.125.725.728.325.463.782.10
Changes in Working Capital 1.37-5.930.92-3.22-5.93-0.333.017.012.232.14
Tax Paid -1.73-0.73-0.36-0.01-0.02-0.03-0.04-000
Cash Flow From Investing Activity + -3.41-4.12-4.25-1.24-1.31-0.562.62-0.170.26-0.13
Capex -3.41-4.17-4.27-1.250.110.25-0.08-0.210-0.45
Net Investments 00000000-0.04-0.02
Others 00.050.020.02-1.43-0.812.690.040.300.35
Cash Flow From Financing Activity + -2.655.241.02-1.031.87-3.65-3.65-4.95-2.90-0.09
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 01.19-1.36-1.70-0.163.858.31-4.85-3.79-1.94
Interest Paid 0-2.27-2.61-3-2.68-2.79-2.69-3.23-2.32-1.91
Dividend Paid -0.58-0.30-0.300-000000
Others -2.076.625.283.674.72-4.71-9.263.133.213.76
Net Cash Flow -0.430.630.28-0.27-0.760.250.36-0.320.250.24

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)44.912.32-20.74-19.47-15.57-9.03-927.15N/AN/AN/A
ROCE (%)2515.832.274.775.566.06-19.58N/AN/AN/A
Asset Turnover Ratio2.442.051.811.811.481.331.521.531.681.78
PAT to CFO Conversion(x)1.65-0.37N/AN/AN/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days41.3067.9091.8094.30117.30131.20109.5093.307571
Inventory Days32.6035.1033.8030.2042.9053.404341.6042.9038.80
Payable Days51.2060.9071.8072.8076.9074.9057.3060.7074.1078.80

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Eastern Treads Ltd FAQs

The current trading price of Eastern Treads on 05-Jun-2026 09:07 is ₹27.05.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Eastern Treads stood at ₹14.36 Cr

The latest P/E ratio of Eastern Treads as of 04-Jun-2026 is 167.0.

The latest P/B ratio of Eastern Treads as of 04-Jun-2026 is -0.84.

The 52-week high of Eastern Treads is ₹37.85 and the 52-week low is ₹25.04.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Eastern Treads is ₹62.41 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Eastern Treads Ltd is a average quality company.

The key valuation ratios of Eastern Treads Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Eastern Treads Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Eastern Treads Ltd

Eastern Treads an ISO 9001-2000 certified public limited company. It is engaged in the manufacturing of quality pre-cured tread, cushion/bonding, gum and black vulcanizing cement. The company is taking its quality statement forward on the road to success.

The company is a professionally run organization with a focus on corporate governance. It gives direct/indirect employment to 300 people. It has a good network of branches at all-India level.

Products of the company

  • Tread Rubber
  • Eastern Range of Repair Patches
  • Eastern Hot Rubber- Slab and Camel Back Treads
  • Bonding Gum and Black Vulcanising Cement

Certification

Eastern Treads has achieved the ISO 9001-2000 certification from AQA.

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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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