BSE: 509162 | NSE: | Rubber Products | Small Cap
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 Somewhat overvalued 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.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 36.7% | 34% | 19.4% | 12.1% | 7.4% | 9.1% | 2.1% | 1.6% | 8.5% | 10.3% | - |
| Value Creation Index ⓘ | 1.6 | 1.4 | 0.4 | -0.1 | -0.5 | -0.4 | -0.9 | -0.9 | -0.4 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 242 | 253 | 184 | 164 | 169 | 187 | 170 | 167 | 244 | 251 | 243 |
| Sales YoY Gr. | - | 4.5% | -27.4% | -10.7% | 2.9% | 10.7% | -9.1% | -1.7% | 46.1% | 3% | - |
| Adj EPS ⓘ | 12 | 11.5 | 7.4 | 5.3 | 4.1 | 5 | 4.6 | 1 | 5 | 6.4 | 5.3 |
| YoY Gr. | - | -3.5% | -36.2% | -27.9% | -23.7% | 24.4% | -8.5% | -78.7% | 413.3% | 26.8% | - |
| BVPS (₹) ⓘ | 48.8 | 59.9 | 67.2 | 71 | 72.5 | 71.1 | 75.1 | 78.7 | 80.7 | 86.4 | 87.2 |
| Adj Net Profit ⓘ | 31.4 | 30.3 | 19.3 | 14 | 10.6 | 13.2 | 12.1 | 2.6 | 13.2 | 16.8 | 14 |
| Cash Flow from Ops. ⓘ | 30.8 | 29.9 | 8.7 | 13.8 | -2.5 | 8.3 | 12.7 | 8.5 | 9.7 | 20 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 0.4% | 8.3% | 13.9% | 3% | ||||
| Adj EPS ⓘ | -6.7% | 9.5% | 11.4% | 26.8% | ||||
| BVPSⓘ | 6.6% | 3.6% | 4.8% | 7.1% | ||||
| Share Price | 1.5% | 19.9% | 33.7% | 24.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 27.2 | 21.3 | 11.6 | 7.7 | 5.6 | 7 | 6.3 | 1.3 | 6.3 | 7.6 | 6.1 |
| Op. Profit Mgn % ⓘ | 17 | 18.1 | 15.9 | 11 | 7.2 | 8.7 | 9.7 | 0.6 | 5.5 | 7.1 | 6 |
| Net Profit Mgn % ⓘ | 13 | 12 | 10.5 | 8.5 | 6.3 | 7.1 | 7.1 | 1.5 | 5.4 | 6.7 | 5.8 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 101 | 99 | 130 | 162 | 165 | 167 | 181 | 167 | 117 | 117 | 71 |
| Cash Conv. Cycle ⓘ | 62 | 61 | 81 | 98 | 111 | 111 | 110 | 103 | 68 | 65 | 51 |
Return on Equity has increased versus last 3 years average to 6.10%
Sales growth is growing at healthy rate in last 3 years 13.93%
Net Profit is growing at healthy rate in last 3 years 11.44%
Sales growth is not so good in last 4 quarters at -3.02%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.3 | 4.9 |
| TTM Sales (₹ Cr.) | 243 | 243 |
| BVPS (₹.) ⓘ | 87.2 | 86.6 |
| Reserves (₹ Cr.) ⓘ | 224 | 222 |
| P/BV ⓘ | 2.09 | 2.10 |
| PE ⓘ | 34.15 | 37.10 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 128.40 / 308.00 |
| All Time Low / High (₹) | 0.33 / 308.00 |
| Market Cap (₹ Cr.) | 478 |
| Equity (₹ Cr.) | 5.3 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 34.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 242 | 253 | 184 | 164 | 169 | 187 | 170 | 167 | 244 | 251 |
| Operating Expenses ⓘ | 201 | 207 | 154 | 146 | 157 | 171 | 153 | 166 | 230 | 233 |
| Manufacturing Costs | 9 | 11 | 7 | 6 | 8 | 9 | 8 | 8 | 11 | 13 |
| Material Costs | 157 | 151 | 108 | 107 | 115 | 121 | 108 | 120 | 174 | 169 |
| Employee Cost | 17 | 21 | 19 | 16 | 18 | 21 | 21 | 21 | 22 | 25 |
| Other Costs ⓘ | 18 | 25 | 21 | 17 | 16 | 20 | 17 | 17 | 23 | 26 |
| Operating Profit ⓘ | 41 | 46 | 29 | 18 | 12 | 16 | 16 | 1 | 13 | 18 |
| Operating Profit Margin (%) | 17.0% | 18.1% | 15.9% | 10.9% | 7.2% | 8.7% | 9.7% | 0.6% | 5.5% | 7.1% |
| Other Income ⓘ | 3 | 5 | 6 | 7 | 5 | 5 | 4 | 6 | 9 | 10 |
| Interest ⓘ | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation ⓘ | 2 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -13 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 42 | 48 | 32 | 22 | 14 | 17 | 4 | 3 | 17 | 22 |
| Tax ⓘ | 9 | 16 | 10 | 6 | 3 | 3 | 1 | 0 | 4 | 5 |
| Profit After Tax | 33 | 32 | 22 | 16 | 11 | 13 | 3 | 3 | 13 | 17 |
| PAT Margin (%) | 13.5% | 12.6% | 11.9% | 9.6% | 6.3% | 7.1% | 1.6% | 1.6% | 5.4% | 6.7% |
| Adjusted EPS (₹) | 12.4 | 12.2 | 8.3 | 6.0 | 4.0 | 5.1 | 1.1 | 1.0 | 5.0 | 6.4 |
| Dividend Payout Ratio (%) | 19% | 20% | 29% | 40% | 60% | 47% | 228% | 243% | 48% | 47% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 128 | 157 | 176 | 186 | 190 | 187 | 197 | 207 | 212 | 227 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 123 | 152 | 171 | 181 | 185 | 181 | 192 | 201 | 207 | 222 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 19 | 11 | 18 | 14 | 14 | 15 | 15 | 17 | 23 | 20 |
| Others Liabilities ⓘ | 18 | 19 | 13 | 10 | 9 | 8 | 10 | 11 | 16 | 16 |
| Total Liabilities ⓘ | 165 | 187 | 207 | 210 | 214 | 210 | 222 | 234 | 251 | 263 |
Fixed Assets | ||||||||||
| Gross Block | 46 | 52 | 34 | 35 | 36 | 38 | 41 | 42 | 53 | 60 |
| Accumulated Depreciation | 24 | 25 | 3 | 6 | 9 | 13 | 16 | 19 | 22 | 26 |
| Net Fixed Assetsⓘ | 22 | 28 | 31 | 29 | 27 | 25 | 25 | 23 | 31 | 34 |
| CWIP ⓘ | 4 | 4 | 0 | 0 | 1 | 10 | 19 | 1 | 0 | 0 |
| Investmentsⓘ | 63 | 83 | 93 | 107 | 99 | 82 | 95 | 112 | 113 | 127 |
| Inventories | 30 | 29 | 41 | 33 | 38 | 37 | 36 | 39 | 42 | 39 |
| Trade Receivables | 34 | 30 | 29 | 29 | 34 | 37 | 29 | 23 | 29 | 26 |
| Cash Equivalents | 4 | 4 | 5 | 4 | 5 | 3 | 4 | 2 | 2 | 5 |
| Others Assetsⓘ | 6 | 8 | 8 | 9 | 10 | 15 | 14 | 33 | 33 | 32 |
| Total Assets ⓘ | 165 | 187 | 207 | 210 | 214 | 210 | 222 | 234 | 251 | 263 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 31 | 30 | 9 | 14 | -3 | 8 | 13 | 9 | 10 | 20 |
| PBT ⓘ | 42 | 48 | 32 | 22 | 14 | 17 | 4 | 3 | 17 | 22 |
| Adjustment ⓘ | -1 | -2 | -3 | -4 | -1 | 0 | 13 | 1 | 2 | 1 |
| Changes in Working Capital ⓘ | -1 | -3 | -11 | 2 | -11 | -4 | 8 | 6 | -7 | 3 |
| Tax Paid ⓘ | -9 | -13 | -9 | -6 | -4 | -5 | -12 | -1 | -3 | -6 |
| Cash Flow From Investing Activity ⓘ | -23 | -23 | 0 | -6 | 10 | 2 | -9 | -3 | -2 | -11 |
| Capex | -3 | -7 | -2 | -1 | -2 | -14 | -12 | -4 | -5 | -6 |
| Net Investments | -22 | -18 | -1 | -9 | 10 | 13 | 0 | -2 | 0 | -2 |
| Others ⓘ | 1 | 2 | 2 | 3 | 1 | 3 | 3 | 2 | 3 | -3 |
| Cash Flow From Financing Activityⓘ | -7 | -8 | -8 | -8 | -8 | -12 | -3 | -7 | -7 | -7 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | -6 | -6 | -6 | -6 | -6 | -10 | -2 | -6 | -6 | -6 |
| Others ⓘ | -1 | -1 | -1 | -1 | -1 | -2 | 0 | 0 | 0 | -1 |
| Net Cash Flow ⓘ | 1 | -1 | 1 | 0 | 0 | -1 | 1 | -1 | 1 | 1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 28.21 | 22.43 | 13.12 | 8.69 | 5.61 | 7.05 | 1.44 | 1.28 | 6.33 | 7.64 |
| ROCE (%) | 36.74 | 33.98 | 19.43 | 12.11 | 7.43 | 9.07 | 2.06 | 1.56 | 8.47 | 10.32 |
| Asset Turnover Ratio | 1.62 | 1.45 | 1.04 | 0.81 | 0.8 | 0.88 | 0.79 | 0.73 | 1.01 | 0.98 |
| PAT to CFO Conversion(x) | 0.94 | 0.94 | 0.41 | 0.88 | -0.27 | 0.62 | 4.33 | 3 | 0.77 | 1.18 | Working Capital Days |
| Receivable Days | 45 | 46 | 53 | 63 | 69 | 70 | 72 | 57 | 39 | 40 |
| Inventory Days | 47 | 43 | 63 | 81 | 77 | 73 | 78 | 82 | 61 | 59 |
| Payable Days | 37 | 36 | 49 | 55 | 45 | 45 | 52 | 48 | 41 | 46 |
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:
Certification:
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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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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