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Indag Rubber Ltd (509162)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509162 NSE: Rubber Products | Small Cap | Indag Rubber Share Price

₹83.77 2.01 (2.46%)

As on 04-Jun'26 16:59

Indag Rubber Ltd (509162)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509162 NSE: Rubber Products | Small Cap | Indag Rubber Share Price

₹83.77 2.01 (2.46%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹220 Cr.
Current Price
₹83.8
52-Week Low / High
₹80 / 150
TTM EPS
₹4.7
TTM Sales
₹214 Cr.
Book Value per Share
₹89.8
P/E Ratio
17.76
Lower than its 5-year historical median
Industry PE
26.4
Price to Book (P/B)
0.93
Lower than its 5-year historical median
Price to Sales (P/S)
1.03
Lower than its 5-year historical median
EV/EBITDA
9.60
Lower than its 5-year historical median
Dividend Yield
2.00%
Profitability Efficiency
Return on Equity (ROE)
3.69%
Underperforms industry median
Return on Capital Employed (ROCE)
4.87%
Underperforms industry median
Return on Assets (ROA)
3.16%
Operating Profit Margin
2%
Net Profit Margin
3.74%
Gross Profit Margin
7.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-10.49%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-74.45%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-49.73%
Asset Quality
Promoter Holding
73.34%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹230 Cr.
Equity
₹5.3 Cr.
Face Value
₹2
All Time Low / High
₹0.33 / 308.00

Indag Rubber stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Indag Rubber Ltd a good quality company?
Indag Rubber Ltd is a average quality company, based on a somewhat consistent 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 Indag Rubber Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Indag Rubber Ltd vs industry peers?
Indag Rubber Ltd revenue CAGR is 3.78%, 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 Indag Rubber Ltd?
Promoters hold 73.34% of the Indag Rubber Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Indag Rubber Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -7.3% 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.
Indag Rubber 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 % 34%19.4%12.1%7.4%9.1%2.1%1.6%8.5%10.3%4.9%-
Value Creation
Index
1.40.4-0.1-0.5-0.4-0.9-0.9-0.4-0.3-0.7-

Growth Parameters

Sales 253184164169187170167244251225214
Sales YoY Gr.--27.4%-10.7%2.9%10.7%-9.1%-1.7%46.1%3%-10.5%-
Adj EPS 11.57.45.34.154.6156.43.24.7
YoY Gr.--36.2%-27.9%-23.7%24.4%-8.5%-78.7%413.3%26.8%-50.3%-
BVPS (₹) 59.967.27172.571.175.178.780.786.487.789.8
Adj Net
Profit
30.319.31410.613.212.12.613.216.88.312
Cash Flow from Ops. 29.98.713.8-2.58.312.78.59.7206.5-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -1.3%3.8%10.4%-10.5%
Adj EPS -13.4%-8.9%47.9%-50.3%
BVPS4.3%4.3%3.7%1.4%
Share Price -7.8% -0.9% -15% -39.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
21.311.67.75.676.31.36.37.63.65.3
Op. Profit
Mgn %
18.115.9117.28.79.70.65.57.125.5
Net Profit
Mgn %
1210.58.56.37.17.11.55.46.73.75.8
Debt to
Equity
00000000000
Working Cap
Days
9913016216516718116711711712997
Cash Conv.
Cycle
61819811111111010368657675

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales253184164169187170167244251225
Operating Expenses + 207154146157171153166230233220
Manufacturing Costs11768988111311
Material Costs151108107115121108120174169162
Employee Cost 21191618212121222527
Other Costs 25211716201717232621
Operating Profit 462918121616113185
Operating Profit Margin (%) 18.1%15.9%10.9%7.2%8.7%9.7%0.6%5.5%7.1%2.0%
Other Income + 567554691012
Exceptional Items 00000-130000
Interest 1100000011
Depreciation 3333434456
Profit Before Tax 483222141743172210
Tax 161063310452
Profit After Tax 32221611133313178
PAT Margin (%) 12.7%11.9%9.6%6.3%7.1%1.6%1.6%5.4%6.7%3.7%
Adjusted EPS (₹)12.28.36.04.05.11.11.05.06.43.2
Dividend Payout Ratio (%)19.70%28.80%40%59.60%47.40%228.20%243.10%47.60%47%74.80%

Valuation of Indag Rubber - Standalone

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
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YTD 1Y 3Y 5Y 10Y Max
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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 + 157176186190187197207212227230
Share Capital 5555555555
Reserves 152171181185181192201207222225
Debt +0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables11181414151517232021
Others Liabilities 191310981011161618
Total Liabilities 187207210214210222234251263269

Fixed Assets

Net Fixed Assets +28312927252523313432
Gross Block52343536384142536060
Accumulated Depreciation25369131619222628
CWIP 400110191000
Investments 8393107998295112113127135
Inventories29413338373639423945
Trade Receivables30292934372923292625
Cash Equivalents 4545342253
Others Assets 88910151433333230
Total Assets 187207210214210222234251263269

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 30914-3813910207
PBT 483222141743172210
Adjustment -2-3-4-1-013121-1
Changes in Working Capital -3-112-11-486-73-0
Tax Paid -13-9-6-4-5-12-1-3-6-3
Cash Flow From Investing Activity + -23-0-6102-9-3-2-111
Capex -7-2-1-2-14-12-4-5-6-2
Net Investments -18-1-910130-2-0-20
Others 22313323-32
Cash Flow From Financing Activity + -8-8-8-8-12-3-7-7-7-9
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -0-0-0-0-0-0-0-0-0-0
Dividend Paid -6-6-6-6-10-2-6-6-6-8
Others -1-1-1-1-2-00-0-1-1
Net Cash Flow -110-0-11-111-2

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)22.4313.128.695.617.051.441.286.337.643.69
ROCE (%)33.9819.4312.117.439.072.061.568.4710.324.87
Asset Turnover Ratio1.451.040.810.80.880.790.731.010.980.84
PAT to CFO Conversion(x)0.940.410.88-0.270.624.3330.771.180.88
Working Capital Days
Receivable Days45.8052.9062.9068.507071.6056.9038.804041.30
Inventory Days42.8063.3080.6076.6073.3078.4082.2060.9059.3068.70
Payable Days35.9048.8054.9045.4045.1052.1048.4041.4045.8046.40

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

Indag Rubber Ltd FAQs

The current trading price of Indag Rubber on 04-Jun-2026 16:59 is ₹83.77.

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 03-Jun-2026 the market cap of Indag Rubber stood at ₹219.9 Cr

The latest P/E ratio of Indag Rubber as of 03-Jun-2026 is 17.76.

The latest P/B ratio of Indag Rubber as of 03-Jun-2026 is 0.93.

The 52-week high of Indag Rubber is ₹150.0 and the 52-week low is ₹79.95.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indag Rubber is ₹214 ( Cr.) .

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

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

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

About Indag Rubber Ltd

Indag Rubber was founded by the Khemka Group during the early 80’s and pioneered the introduction of cold retreading technology in India. Since then the company has provided retreading material to our customers ranging from precured tread to curing envelopes.

It offers complete range of application specific tread patterns for transportation industry with cost effective tyre solutions.

Indag uses advanced technology in terms of machinery, equipment and raw materials. As a result, our products give mileage that result in Lowest Cost Per Kilometer.

Indag continuously engages in R&D to develop and deliver superior compounds that give higher mileage to our customers. They constantly engage in testing of these compounds in the field to ensure that their customers get a product that gives superior performance.

Their factories are located in Nalagarh, Himachal Pradesh and Bhiwadi, Rajasthan to ensure speedy delivery of their product to their customers all over India and different parts of the World.

Products manufactured by the company:

  • Precured Tread Rubber
  • Un-vulcanized Rubber Strip Gum
  • Universal Spray Cement
  • Envelopes

Certification:

  • Their processes are ISO 9001:2000 certified.

Future Plans:

With an eye on exports and increased sales within the country, Indag Rubber has approved capacity expansion of the main manufacturing facility at Nalagarh, Himachal Pradesh

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