Tinna Rubber & Infrastructure Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,436 Cr
- P/E
- 23.28
- ROE
- 22.06%
- PEG
- 0.66
- Price to sales
- 2.52
- Debt to equity
- 0.43
- 52W high / low
- ₹1,190 / ₹536
- Sales growth (5Y)
- 33.06%
- EBITDA margin
- 18.53%
- Net profit margin
- 9.73%
- Promoter holding
- 67.22%
- Sales (last year)
- ₹572 Cr
Guidance scorecard · Q2 FY27 call
What Tinna Rubber & Infrastructure Ltd's management guided
RevenueQ1 FY27 call
20–40%- Company targets revenues of INR 670-700 crores for FY 2027, with aspirations to reach INR 1,000 crores by FY 2029.
- Expansion plans include debottlenecking existing capacity and exploring new greenfield plants to meet strong market demand.
- Capacity utilization expected around 80%-85% at peak post expansions.
- Steel Abrasive business aims approximately 50% volume growth in FY 2027 following exclusive distributorship deal.
- Infrastructure segment expected to sustain demand due to government initiatives and bitumen shortages benefiting rubberized bitumen use.
- Industrial segment shows robust growth with 58% Y-o-Y revenue increase, supported by exports growing 46% Y-o-Y.
2 more points from Tinna Rubber & Infrastructure Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Tinna Rubber & Infrastructure Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company plans a capex of around INR 100 crores over FY27 and FY28.
- Approximately INR 60 crores of this capex is expected to be capitalized during FY27.
- Capex supports Vision 2029 targets: 10 locations, INR 1,000 crores revenue by FY29, with 25%+ revenue CAGR and EBITDA margins over 18%.
FundraisingQ1 FY27 call
See what Tinna Rubber & Infrastructure Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The company secured a 15,000 tons rubberized bitumen processing order for execution in FY27.
- Exports volume showed robust 46% YoY growth supported by a healthy order pipeline, indicating strong demand.
- TP Buildtech continues to scale its construction chemical business through capacity expansion and execution of key projects.
- The company has a robust project pipeline supporting future growth, as stated by the management.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Tinna Rubber & Infrastructure Ltd announcements
All announcements →- Capex / expansionNotableTinna Rubber reports record H1 FY27 profit with 50% EBITDA growth YoY
Financials of Tinna Rubber & Infrastructure Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Tinna Rubber & Infrastructure Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 73.81% | 73.55% | 72.65% | 71.94% | 71.01% | 71.08% | 67.58% | 67.58% | 67.58% | 67.58% | 67.21% | 67.21% |
| FIIs + | 0.82% | 0.74% | 0.79% | 1.25% | 0.65% | 0.64% | 0.66% | 0.59% | 0.52% | 0.36% | 0.49% | 1.00% |
| DIIs + | 0.00% | 0.00% | 0.00% | 0.05% | 0.93% | 1.06% | 5.90% | 5.84% | 5.76% | 5.62% | 4.18% | 3.09% |
| Government + | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% | 0.31% | 0.31% | 0.31% | 0.31% | 0.31% | 0.31% |
| Public + | 25.04% | 25.39% | 26.22% | 26.43% | 27.09% | 26.90% | 25.55% | 25.67% | 25.84% | 26.12% | 27.82% | 28.39% |
| No. of Shareholders | 20,218 | 21,711 | 27,842 | 34,750 | 39,815 | 43,556 | 43,649 | 45,109 | 44,053 | 43,012 | 42,896 | 44,159 |
Financials of Tinna Rubber & Infrastructure Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 80 | 93 | 110 | 136 | 118 | 123 | 129 | 130 | 120 | 139 | 157 | 156 | 157 |
| Expenses + | 67 | 78 | 87 | 111 | 98 | 108 | 111 | 109 | 98 | 117 | 129 | 122 | 127 |
| Operating Profit | 13 | 16 | 22 | 25 | 19 | 15 | 18 | 21 | 21 | 22 | 28 | 34 | 29 |
| OPM % | 16% | 17% | 20% | 18% | 16% | 12% | 14% | 16% | 18% | 16% | 18% | 22% | 19% |
| Other Income + | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 1 | 0 | 0 | 1 | 1 | 1 |
| Interest | 2 | 2 | 2 | 2 | 3 | 3 | 2 | 3 | 2 | 3 | 3 | 3 | 3 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 4 |
| Profit before tax | 10 | 13 | 20 | 22 | 16 | 11 | 15 | 16 | 16 | 17 | 23 | 28 | 23 |
| Tax % | 25% | 24% | 21% | 24% | 22% | 25% | 23% | 25% | 28% | 25% | 28% | 25% | 27% |
| Net Profit + | 8 | 10 | 16 | 16 | 12 | 8 | 12 | 12 | 12 | 13 | 17 | 21 | 17 |
| EPS in Rs | 4.45 | 5.81 | 9.14 | 9.57 | 7.08 | 4.76 | 6.82 | 6.52 | 6.53 | 7.11 | 9.18 | 11.42 | 9.46 |
Financials of Tinna Rubber & Infrastructure Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 349 | 530 | 69 | 100 | 130 | 123 | 130 | 229 | 295 | 363 | 505 | 542 | 609 |
| Expenses + | 324 | 508 | 67 | 90 | 114 | 114 | 114 | 192 | 258 | 300 | 428 | 449 | 495 |
| Operating Profit | 25 | 22 | 2 | 10 | 16 | 9 | 17 | 37 | 37 | 63 | 77 | 94 | 114 |
| OPM % | 7% | 4.2% | 2.7% | 10% | 12% | 7% | 13% | 16% | 13% | 17% | 15% | 17% | 19% |
| Other Income + | 0 | 3 | 2 | 1 | 3 | 2 | 2 | 3 | 7 | 3 | 8 | 2 | 3 |
| Interest | 10 | 14 | 11 | 10 | 11 | 10 | 10 | 9 | 8 | 8 | 11 | 11 | 11 |
| Depreciation | 5 | 7 | 7 | 7 | 7 | 8 | 8 | 9 | 7 | 6 | 10 | 12 | 15 |
| Profit before tax | 9 | 5 | -14 | -6 | 0 | -6 | 0 | 23 | 29 | 53 | 63 | 72 | 91 |
| Tax % | 36% | 56% | -32% | -15% | 109% | -24% | 139% | 26% | 24% | 24% | 24% | 27% | |
| Net Profit + | 6 | 2 | -9 | -5 | -0 | -5 | -0 | 17 | 22 | 40 | 48 | 53 | 67 |
| EPS in Rs | 3.42 | 1.61 | -5.48 | -2.92 | -0.02 | -2.83 | -0.08 | 9.88 | 12.75 | 23.52 | 28.23 | 29.34 | 37.17 |
| Dividend Payout % | 29% | 16% | 0% | 0% | 0% | 0% | 0% | 20% | 20% | 21% | 14% | 11% |
Financials of Tinna Rubber & Infrastructure Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 17 | 17 | 18 | 18 |
| Reserves | 71 | 73 | 51 | 63 | 63 | 58 | 58 | 69 | 87 | 111 | 161 | 282 | 315 |
| Borrowings + | 137 | 144 | 94 | 83 | 78 | 72 | 66 | 71 | 60 | 86 | 135 | 129 | 122 |
| Other Liabilities + | 85 | 71 | 23 | 27 | 26 | 30 | 36 | 41 | 37 | 54 | 72 | 100 | 105 |
| Total Liabilities | 301 | 297 | 176 | 181 | 176 | 168 | 169 | 189 | 193 | 268 | 385 | 529 | 560 |
| Fixed Assets + | 86 | 92 | 82 | 77 | 82 | 77 | 77 | 77 | 74 | 130 | 185 | 249 | 298 |
| CWIP | 9 | 10 | 2 | 3 | 1 | 3 | 0 | 1 | 0 | 7 | 11 | 42 | 33 |
| Investments | 18 | 17 | 15 | 27 | 26 | 25 | 24 | 26 | 28 | 31 | 40 | 34 | 34 |
| Other Assets + | 188 | 177 | 77 | 74 | 67 | 63 | 69 | 85 | 90 | 100 | 149 | 204 | 195 |
| Total Assets | 301 | 297 | 176 | 181 | 176 | 168 | 169 | 189 | 193 | 268 | 385 | 529 | 560 |
Financials of Tinna Rubber & Infrastructure Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -5 | 12 | 7 | 15 | 20 | 17 | 21 | 19 | 32 | 59 | 36 | 57 |
| Cash from Investing Activity + | -49 | -15 | -1 | 4 | -4 | -2 | -5 | -12 | -10 | -70 | -68 | -103 |
| Cash from Financing Activity + | 52 | -4 | -5 | -19 | -16 | -15 | -15 | -6 | -21 | 9 | 33 | 44 |
| Net Cash Flow | -3 | -7 | 0 | -0 | 0 | 0 | 0 | 1 | 1 | -1 | 2 | -1 |
| Free Cash Flow | -40 | -5 | -0 | 12 | 15 | 14 | 15 | 9 | 24 | -13 | -31 | -49 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -12% | 74% | 388% | 164% | 127% | 199% | 126% | 51% | 102% | 112% | 63% | 75% |
Financials of Tinna Rubber & Infrastructure Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 20 | 32 | 100 | 100 | 66 | 68 | 70 | 52 | 40 | 30 | 30 | 45 |
| Inventory Days | 172 | 70 | 334 | 212 | 149 | 166 | 181 | 115 | 86 | 85 | 83 | 99 |
| Days Payable | 70 | 30 | 40 | 61 | 39 | 53 | 81 | 93 | 48 | 66 | 62 | 80 |
| Cash Conversion Cycle | 122 | 71 | 393 | 251 | 176 | 181 | 169 | 74 | 77 | 49 | 51 | 64 |
| Working Capital Days | -16 | -3 | -61 | -36 | -32 | -45 | 74 | 5 | 21 | 6 | 6 | 11 |
| ROCE % | 12% | 8% | -1% | 3% | 7% | 3% | 8% | 23% | 24% | 33% | 28% | 22% |
Guidance history
How Tinna Rubber & Infrastructure Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
23 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −17.9% | 40% |
| Last 6 months | +10.7% | 69% |
| Last 3 months | −28.5% | 7% |
The price is 59.6% below its all-time high of ₹1,971.7 (28 Jun 2024). Stocks more than 20% below their peak have their score halved, so 45 became 23.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tinna Rubber & Infrastructure Ltd: 0.4 × 40 + 0.4 × 69 + 0.2 × 7 = 45, halved to 23 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.