Indag Rubber Limited, one of India's leading Tread Manufacturing Company, has declared its Audited Results for the Quarter and Year ended 31st March, 2019. The Results are in accordance with the Indian Accounting Standards (Ind AS).
- Final Dividend recommended of Rs. 1.50 per equity share in addition to the Interim Dividend of Rs. 0.90 per equity share paid in November 2018. Face value (FV) of one equity share is Rs. 2
- The Company recorded Revenue of Rs. 178 crores for FY19
- EBITDA for FY19 stood at Rs.20 crores and Margins at 11.1%
- The company was impacted by increased raw material prices which could not be completely passed on due to the market competition
- EBITDA Margins were impacted due to high employee cost and other expenses which were incurred during the year on account of strengthening our sales and technical team
- Net Profit After Tax for FY19 stood at Rs. 11 crores with PAT Margins at 6.2%
Commenting on the Result, Mr. K. K. Kapur CEO, Indag Rubber Limited said, "For the Financial Year 2019, our Companyhas reported a Revenue of Rs. 178 crores with EBITDA and PA T of Rs. 20 crores and Rs. 11 crores respectively. During the year, the company had incurred high employee cost on account of strengthening the sales and technical team. This would be beneficial for the company in the long run.
For FY19, the Board has recommended a Final Dividend of Rs. 1.5 per equity share in addition to the Interim Dividend of Rs. 0.90 per share paid in November 2018. Face value (FV) of one equity share is Rs. 2.
The commercial vehicle industry grew by 17.6% during FY19. This demand was driven on back of new infrastructure projects and fleet replacement. Going ahead, CV industry is forecasted to grow at 10-12%in FY20. In anticipation of commercial vehicle industry to grow, the demand for bus and truck tyres will increase. Tyre companies are also expanding their capacities. This will lead to increase in demand for tyres which is expected to enhance the demand for retreading too.
We have succeeded in getting large orders from two STUs for supply of Tread, Cushion Gum and USC during the year 2019-20 which will improve our financial results during that year."
Shares of INDAG RUBBER LTD. was last trading in BSE at Rs.112.8 as compared to the previous close of Rs. 115.25. The total number of shares traded during the day was 18936 in over 101 trades.
The stock hit an intraday high of Rs. 119.95 and intraday low of 109. The net turnover during the day was Rs. 2194336.