Synopsis: Rubber recycling company’ share hit the 20 percent upper circuit after reporting a 75 percent YoY jump in Q1 FY27 profit, supported by strong revenue growth and improving profitability.
The share of this company, which converts waste tires into value-added products like crumb rubber, reclaimed rubber, and modified bitumen, gained investor traction after posting robust Q1 numbers
With a market capitalization of Rs 2,137 crore, Tinna Rubber & Infrastructure Ltd’s share on Monday made a day high of Rs 1,185.90 per share, up by 20 percent, hitting upper circuit from its previous day’s close price of Rs 988.25 per share. The share of the company gave a return of 25 percent over the last year.
QoQ View:
The revenue from operations decreased by 0.49 percent QoQ to Rs 156.18 crore in Q1 FY27 from Rs 156.95 crore in Q4 FY26, while Profit before tax grew by 19.89 percent QoQ to Rs 27.50 crore in Q1 FY27 from Rs 22.94 crore in Q4 FY26. This was accompanied by a growth in profit for the period of 24.42 percent QoQ to Rs 20.57 crore in Q1 FY27 from Rs 16.53 crore in Q4 FY26.
YoY View:
The revenue from operations grew by 19.89 percent YoY to Rs 156.18 crore in Q1 FY27 from Rs 130.27 crore in Q1 FY26, and Profit before tax grew by 75.94 percent YoY to Rs 27.50 crore in Q1 FY27 from Rs 15.63 crore in Q1 FY26. This was accompanied by a Profit for the period growth of 75.17 percent YoY to Rs 20.57 crore in Q1 FY27 from Rs 11.74 crore in Q1 FY26.
Q1 Operational Highlights
The company reported a standalone material cost of Rs 6,671.39 lakh in Q1 FY27, while inventory adjustments (finished goods, work-in-progress, and stock-in-trade) stood at Rs 660.35 lakh. Finance costs remained under control at Rs 282.85 lakh on a standalone basis and Rs 284.75 lakh on a consolidated basis, helping manage funding costs during expansion.
The company strengthened its international presence by incorporating Tinna Rubber Chile SpA, a wholly owned step-down subsidiary in Chile, with an authorised capital of 500,000,000 Chilean Pesos. The subsidiary has been set up to recycle and process end-of-life tyres (ELTs), waste plastic, and battery scrap, expanding the company’s footprint in the South American market.
Depreciation and amortisation expenses stood at Rs 298.83 lakh on a standalone basis and Rs 341.68 lakh on a consolidated basis, reflecting continued utilisation of its processing facilities. Meanwhile, other expenses were maintained at Rs 2,984.93 lakh on a standalone and Rs 2,719.95 lakh on a consolidated basis, indicating disciplined control over operating costs.
About the Company
Tinna Rubber & Infrastructure Ltd (TRIL) is India’s largest and Asia’s leading recycler of end-of-life tires (ELT). Founded in 1987, the company converts waste tires into value-added products like crumb rubber, reclaimed rubber, and modified bitumen. These sustainable materials are heavily used in road construction, tire manufacturing, and auto parts
From where does the company makes it money as of FY26?
Infrastructure was the company’s biggest revenue-generating segment in FY26, contributing 38 percent of total revenue. The strong share reflects steady demand from road construction, infrastructure development, and other large-scale projects.
Industrial products contributed 30 percent of revenue, while the steel industry accounted for another 20 percent. Together, these two business-to-business segments made up 50 percent of total revenue, highlighting the company’s strong presence across manufacturing and industrial customers.
Consumer applications contributed 8 percent of total revenue, while PCMB (Polymer Modified Bitumen / Crumb Rubber Modified Bitumen) accounted for 4 percent. Overall, Infrastructure and Industrial together contributed 68 percent of revenue, reflecting a well-diversified business across infrastructure and manufacturing sectors.
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