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Indag Rubber Limited announces Q1FY19 results

Posted On: 2018-08-17 21:49:10

Indag Rubber Limited, one of India's leading Tread Manufacturing Company, has declared its Unaudited Results for the quarter ended 30th June, 2018. The Results are in accordance with the Indian Accounting Standards (Ind AS).

Highlights of Q1 FY19

- Revenue of Rs. 39.9 crores, a growth of 8% as comparedto Q1 FY18
- EBITDA stood at Rs. 4.9 crores, a growth of 62% as compared to Q1 FY18
- EBITDA Margins have improved by 410 basis points to 12.3% as compared to 8.2% in Q1 FY18.
- Net Profit After Tax stood at Rs. 2.9 crores, a growth of 92% as compared to Q1 FY18
- PAT Margins have increased by 320 basis points to 7.3%

Commenting on the Result, Mr. K. K. Kapur CEO, Indag Rubber Limited said, "We are pleased to announce that our Companyhas achieved a Revenue of Rs. 40 crores with EBITDA and PAT of Rs. 5 and Rs. 3 crores respectively in the first quarter of FY19. There was high growth in sale of commercial vehicles in the first quarter of FY19. The CV segment is expected to grow in double digits for the next few year driven by increase in infrastructure development in our country. Tyre volume demand is also expected to grow at an increased rate boosted by higher OEM demand and stable replacement demand. This augers well for the retreading industry as well.

Post implementation of GST there has been a shift from the unorganized sector to the organized sector with the organized players having an upper hand.

The tyre industry continues to invest in radial tyre capacities. Increase in Radialization will have a positive impact on the retreading industry in course of time."

Shares of INDAG RUBBER LTD.-$ was last trading in BSE at Rs.139 as compared to the previous close of Rs. 133. The total number of shares traded during the day was 5172 in over 48 trades.

The stock hit an intraday high of Rs. 139 and intraday low of 134. The net turnover during the day was Rs. 709203.

Source: Equity Bulls

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