Tinna Rubber & Infrastructure Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 28 May 2026 | Industrial Products | Market Cap: ₹2.0K Cr
The company expects to close FY '26 with a 12% to 15% growth over the previous year, down from the earlier 20% target due to extended monsoon and strategic product focus. FY '26 growth is expected at 12% to 15% over previous year, down from earlier 20% guidance.
From Tinna Rubber & Infrastructure Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,035
Market Cap
₹2.0K Cr
P/E Ratio
31.8
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Tinna Rubber & Infrastructure Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹157 Cr, net profit ₹17 Cr.
Full financials →📊 Revenue & Sales Performance
- →The company expects to close FY '26 with a 12% to 15% growth over the previous year, down from the earlier 20% target due to extended monsoon and strategic product focus.
- →For FY '27, sales are projected between INR 725 crores to INR 750 crores.
- →Vision 28 aims for a revenue CAGR of over 25%, targeting INR 1,000 crores by FY '28.
- →Exports are a key growth driver, with a targeted 30% volume increase by Q4 FY '26.
- →New initiatives like the recycled carbon black (rCB) plant are expected to contribute INR 100-125 crores to the top line in FY '27.
- →Business expansion planned in Southern India, Northern India, GCC countries (Oman, Saudi Arabia), and South Africa.
- →Infrastructure and industrial segments anticipate stronger contributions, supported by growing demand and new product approvals.
📈 Profitability & Margins
- →FY '26 growth is expected at 12% to 15% over previous year, down from earlier 20% guidance. (Page 6, 7, 14)
- →EBITDA margins improved to 18.5% in Q2; full year expected to be around 17% to 18.5%. (Page 7, 12, 14)
- →PAT conversion expected around 10% of top-line in FY '26. (Page 14)
- →Expansion plans include new businesses: recovered carbon black (rCB) plant and PCMB business, contributing to growth and profitability. (Page 11, 12)
- →Vision 28 aims for 25%+ CAGR revenue growth reaching INR 1,000 crore by FY '28 with EBITDA margins above 18% and ROCE of 30%. (Page 5)
- →Investments like rCB and pyrolysis plants with 4-5 year payback expected to be margin accretive and contribute INR 100-125 crore revenue by FY '27. (Page 10, 12)
- →Export growth targeted at 30% volume increase by Q4 FY '26, supporting top-line growth. (Page 5, 13)
🏗️ Capital Expenditure Plans
- →Ongoing capex plan of approximately INR 100 crores to be completed by FY '27.
- →H1 FY '26 capex spend of approximately INR 56 crores; remaining deployment need-driven.
- →Around INR 18 crores utilized from QIP funds for pyrolysis and recovered carbon black (rCB) project.
- →INR 9 crores utilized for solar power expansion aiming to increase renewable energy capacity from 1.23 MW to 4.48 MW by end of Q3 FY '26.
- →Investment of INR 50 crores planned for combined pyrolysis and rCB plant setup (100 TPD capacity).
- →Target to scale renewable energy to meet 50% of total power consumption by FY '26 end, supporting ESG commitments.
- →The company is allocating up to 3% of PAT towards R&D for future readiness and innovation.
- →New initiatives underway: PCMB business, rCB business, ventures in Saudi Arabia and South Africa for growth acceleration.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any new fundraising through debt or equity in the call transcript.
- →The company has already utilized QIP funds totaling INR 50 crores: INR 23 crores for debt reduction, INR 19 crores for general corporate purposes, INR 18 crores for the pyrolysis and rCB project, and INR 9 crores for solar power expansion.
- →Capex of approximately INR 100 crores is underway, with INR 56 crores already spent in H1 FY '26; further expenditures will be deployed on a need-driven basis.
- →No announcements or plans were discussed regarding fresh debt or equity raises during this earnings call.
- →Management emphasized operational improvements and strategic initiatives funded from internal resources and prior capital raises.
📋 Order Book & Pipeline
- →The company reports a strong order pipeline supporting confidence in growth.
- →Despite a modest 3% dip in revenue in H1 FY26, the order book and forecasts for H2 indicate expected year-end growth of 10% to 15% over the previous year.
- →Growth prospects are driven by product approvals and customer engagements, with new business lines contributing progressively.
- →The company anticipates maintaining or improving margins, supported by diversification and a pan-India presence.
- →The order book includes opportunities in multiple segments such as industrial, infrastructure (notably CRM business growth of 75% volume), and consumer segments.
- →Export volumes are targeted to increase by 30% by Q4 FY26, indicating a robust backlog.
- →New initiatives like PCMB, rCB business, and ventures in Saudi Arabia and South Africa contribute to the expected order inflow.
Key Metrics
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What Tinna Rubber's management said in earlier quarters
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Frequently Asked Questions
What were Tinna Rubber & Infrastructure Ltd Q2 FY26 results?
The company expects to close FY '26 with a 12% to 15% growth over the previous year, down from the earlier 20% target due to extended monsoon and strategic product focus. FY '26 growth is expected at 12% to 15% over previous year, down from earlier 20% guidance.
What is Tinna Rubber & Infrastructure Ltd share price analysis?
Tinna Rubber & Infrastructure Ltd currently shows a neutral. The stock trades at a P/E of 31.8 with a market cap of ₹1,963 Cr. Investors should review the full earnings analysis for detailed insights.
Is Tinna Rubber & Infrastructure Ltd planning capital expenditure?
Ongoing capex plan of approximately INR 100 crores to be completed by FY '27.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.