Tinna Rubber & Infrastructure Ltd

- The Company is in the process of taking a new term loan of approximately Rs. 30 crores to support ongoing capital expenditures related to expansions. - The remaining funding for CAPEX will come from internal accruals. - The Oman facility investment of about Rs. 11 crores has been fully funded through internal accruals. - The management aims to achieve a debt-free status by FY25, primarily through monetizing non-core land parcels and internal accruals. - However, due to compelling growth opportunities, the Company is comfortable with the current debt levels and intends to continue funding growth through a mix of debt and internal accruals rather than equity. - No explicit mention of any equity fundraising is made in the call.

- Ongoing CAPEX includes Rs. 38 to Rs. 40 crores for the Varle expansion (tyre crushing capacity increase by 60%). - Rs. 3 crores allocated for Thermo Plastic Elastomer (TPE) project at Panipat plant, capacity 6,000 tons per annum. - Additional Rs. 2 to 3 crores planned for plant setup in Oman, with Rs. 11 crores already invested internally. - Total new term loan of approx. Rs. 30 crores being taken for funding these expansions; rest funded through internal accruals. - New plant at Varle expected to add around 60,000 tons capacity. - Expansion aims to diversify products (Passenger Car Radial tyres processing, TPE products) and increase addressable market. - Oman facility and Varle project expected to contribute incremental sales (~Rs. 150 crores addition collectively). - Strategic focus remains on tyre recycling business, with no planned investments outside core rubber recycling operations. - Management plans to monetize non-core land and real estate investments to reduce debt and fund growth.

- The company expects an approximate 20% year-on-year consolidated volume and revenue growth. - There is a strong pipeline of business in the infrastructure sector for at least the next 3 years, driven by 25-30 new expressway projects in phased execution. - Expansion plans include increasing tyre crushing capacity by 60% at the Varle plant, and adding Thermo Plastic Elastomer production to broaden the market. - The newly commissioned Oman plant is expected to contribute Rs. 18 to 20 crores annually, scaling up progressively. - The passenger car radial (PCR) processing plant at Varle is projected to generate around Rs. 100 crores in annual sales. - Growth is expected across all sectors: infrastructure, industrial, steel, and consumer. - EBITDA margins are targeted to improve to around 15% with steady operation. - The company aims to maintain a 20-25% CAGR over the medium term, driven by diversified product offerings and infrastructure demand.

- The company expects a topline growth of around 20% year-on-year. - EBITDA margins are projected to improve to approximately 15%, up from 14.5% in Q1 FY24. - Net profit after tax grew 16% YoY in Q1 FY24, indicating a positive earnings trend. - Infrastructure and industrial sectors see strong growth potential with multiple expressways and government projects lined up. - Expansion plans include increasing tyre crushing capacity by 60% at the new Varle plant and adding Thermo Plastic Elastomers (TPE) production, targeting new markets and applications. - Oman facility ramp-up expected to improve margins and contribute Rs. 18-20 crores annually to sales. - Overall, the company is targeting a consolidated volume growth of roughly 20% CAGR over the next 3 years. - Confident of recovery in Q3 and Q4 FY24 after early monsoon rains impact. - Focus remains on expanding core tyre recycling operations and stabilizing overseas ventures before exploring further international expansions after FY25.

- The Company has a strong order pipeline, especially in the infrastructure sector, for at least the next 2 to 3 years based on already awarded projects. - The order book includes contracts worth approximately Rs. 107 crores to be completed over the next 2 years, with around 80-90% expected to be consumed within the current financial year. - Key projects include multiple expressways, including the Ganga Expressway, targeting completion around FY24 or extended by 6 months. - The Company is confident about phased growth in infrastructure volumes, with a focused effort on expressway projects and other road construction activities. - There is no sector-wise EBITDA margin disclosure as it is considered sensitive information. - Continuous engagement with government and contractors ensures a healthy and growing order book for upcoming years.