Tinna Rubber & Infrastructure Limited · NSE:TINNARUBR
Tinna Rubber & Infrastructure — Q4 & FY26 Earnings Presentation
45 slides from Tinna Rubber & Infrastructure's earnings presentation, May 23, 2026
Slide 1: Exchange filing cover letter
Date: May 23, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C-1, Block G, Dalal Street, Mumbai-400001 Bandra Kurla Complex, Bandra (E), Mumbai-400051 BSE Scrip: 530475 NSE Symbol: TIN
Slide 2: Investor & Earnings Presentation Q4 & FY26
Tinna Rubber and Infrastructure Limited Investor & Earnings Presentation Q4 & FY26 Rubber Gym Crumb Rubber Conveyor Rubber Tiles Moulded Tyres Infill Belt Mat Goods
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Tinna Rubber and Infrastructure Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securi
Slide 4: Table of Contents
Table of Contents Performance Highlights - Q4 & FY26 Company Overview Key Investment Highlights Annexures
Slide 5: Performance Highlights Q4 & FY26
Performance Highlights Q4 & FY26
Slide 6: Q4 & FY26 - Standalone Financial Highlights
Q4 & FY26 - Standalone Financial Highlights Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 50 25.0% 50 20.0% 18.3% Q4FY26 Results 40 16.3% 20.0% 40 15.0% 13.2% 11.0% 30 15.0% 30 9.6% 8.1% 10.0% 155 20 10.0% 20 129 135 28 10 22 5.0% 10 5.0% 17 13 17 10 0 0.0% 0 0.0% Q4FY25 Q3
Slide 7: Q4 & FY26 - Consolidated Financial Highlights
Q4 & FY26 - Consolidated Financial Highlights Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 50 25.0% 50 20.0% 18.2% Q4FY26 Results 40 16.3% 20.0% 40 15.0% 13.6% 10.5% 30 15.0% 30 9.1% 9.2% 10.0% 157 20 10.0% 20 129 139 29 10 23 5.0% 10 5.0% 18 17 12 13 0 0.0% 0 0.0% Q4FY25
Slide 8: Key Operational Performance - Volumes at an All-Time High
Key Operational Performance - Volumes at an All-Time High Quarterly Performance Annual Performance Annual Capacity Volume of Tyres Processed (MT) Volume of Tyres Processed (MT) Tyre Crushing Capacity (‘000 MT) 60,000 235 155,000 49,382 50,000 135,000 185 39,000 170 40,000 36,000 30,000 90 20,000 80
Slide 9: Segment wise Revenue Contribution
Segment wise Revenue Contribution FY25 Revenue Break-up FY26 Revenue Break-up PCMB PCMB 1% Consumer Consumer 4% 8% 8% Steel Industry 20% Steel Industry 20% Industrial 26% Industrial 30% Infrastructure Infrastructure 45% 38% PCMB business has demonstrated strong growth, with revenue contribution risi
Slide 10: FY26 Key Segment Performance - Infrastructure & Industrial
FY26 Key Segment Performance - Infrastructure & Industrial Infrastructure Segment (INR Cr) Industrial Segment (INR Cr)* FY26 205 FY26 163 FY25 222 FY25 135 Revenue focus remained on value-added products and margin enhancement. Achieved a strong 20% YoY growth in revenue. Revenue declined marginally
Slide 11: FY26 Key Segment Performance - Consumer & Steel
FY26 Key Segment Performance - Consumer & Steel Consumer Segment (INR Cr) Steel Segment (INR Cr) FY26 42 FY26 103 FY25 34 FY25 102 Revenue remained stable on a YoY basis, while volumes recorded an 8% Revenue grew by 23% despite a marginal decline in volumes, reflecting the growth. Revenue growth was
Slide 12: Key Q4 & FY26 Operational Highlights
Key Q4 & FY26 Operational Highlights Tyre crushing capacity increased by 9% to 185,000 TPA in FY26 compared to 170,000 TPA in FY25. Tyre 01 crushing volumes increased by 13% in FY26 to 155,000 TPA due to an increase in capacity and utilization. Crumb rubber production witnessed an increase of 15%, a
Slide 13: Management Analysis on Q4 & FY26 Results
Management Analysis on Q4 & FY26 Results At the standalone level, FY26 revenues increased by 6% and EBITDA & PAT margins expanded 01 by ~286 bps and ~161 bps resp. which is a further validation of our robust performance. At the consolidated level, FY26 Revenues increased by 8% and EBITDA & PAT margi
Slide 14: TP Buildtech Q4 & FY26 Financial Performance
TP Buildtech Q4 & FY26 Financial Performance Financial Performance (INR Cr) Operational & Strategic Highlights Annual Performance - Trend Analysis 100 20% Product costs witnessed periodic disruptions due to currency fluctuations and crude oil volatility. 01 17% 80 Additionally, the Middle East crisi
Slide 15: Key Q4 & FY26 Strategic Highlights
Key Q4 & FY26 Strategic Highlights A comprehensive lifecycle assessment study to measure GHG emissions from tyre recycling and conversion into recycled rubber materials has 01 been completed, and the conclusion of the report is awaited. 02 Capex of INR 107 Cr was completed in FY26, with an additiona
Slide 16: Update on International Projects (1/3)
Update on International Projects (1/3) CEO Waste Bureau of South Africa and his Team visited Tinna’s Facility South Africa 01 Phase 1 capex is completed, with breakeven expected from Q1FY27 onwards, and operations have begun, and subsequently export of the semi-processed material has started. 02 The
Slide 17: Update on International Projects (2/3)
Update on International Projects (2/3) Indian High Commissioner visited our plant in Oman Oman 01 Plant is running successfully at 85% capacity utilization. Tinna hosted a delegation from the Environment Authority of Oman 02 FY26 Revenue contributed by Oman is approx INR 30 Cr. ($ 3.3 Million). 03 A
Slide 18: Update on International Projects (3/3)
Update on International Projects (3/3) Saudi Arabia emaps om 01 • Tinna has outlined plans to set up a tyre recycling plant in Saudi Arabia, and accordingly, the company has been formed with the name Tinna Rubber Arabia Ltd. 02 • Initial plan is to set up a capacity of 24,000 MT per annum of tyre re
Slide 19: Polymer Composite & Masterbatch (PCMB) Business – Project Update
Polymer Composite & Masterbatch (PCMB) Business – Project Update Sales Volume Growth & Utilization Improvement Sales Volume (in Metric Ton) Sales Milestone Achieved - Tinna has commenced production 01 and sold around 2,500 ton of material to various industries, including recycled engineered plastics
Slide 20: Recovered Carbon Black (rCB) - Project Update
Recovered Carbon Black (rCB) - Project Update rCB Project Process TPO production is expected to normalize by end-Q1FY27, with 01 rCB production trials commencing in Q2FY27 and normalization anticipated by Q3FY27. A strong team has been put in place, and skilled professionals 02 continue to be onboar
Slide 21: Vision 2029 : Powering the Next Phase of Growth
Vision 2029 : Powering the Next Phase of Growth Locations - 10 OUR PRIORITIES Revenue - INR 1,000 Cr Shareholder Value Creation | Strong Corporate Governance | Judicious Use of Capital Revenue (3 Yrs CAGR) - 25%+ Profitability Growth (3 Yrs CAGR) - 33%+ Vision EBITDA Margin – 18%+ 2029 ROCE - 30%+ L
Slide 22: Company Overview
Company Overview
Slide 23: Among the Largest ELT Recyclers Globally
Among the Largest ELT Recyclers Globally Expanding tire crushing capacity, diverse ELT sourcing, …have helped Tinna achieve a strong financial performance* & global operations… Source of ELT tyres Manufacturing presence 17.13% 9.68% Europe EBITDA Margin (%) PAT Margin (%) Planned expansion Middle Ea
Slide 24: Waste to Wealth - 400% Value Addition to Waste
Waste to Wealth - 400% Value Addition to Waste Automobile Rubber Parts 80, 120, 140, 170 MESH (MRP) Conveyor Belts Reclaim Rubber RUBBER Di v Roads er 30/40 MESH se set of applicat Sports Turfs CRUMB RUBBER CRMB End of Life Tyres MODIFIER (CRM) for CRM + Bitumen road top layer application (ELT) io n
Slide 25: Tinna’s Business Model is Unique with Strong Moats
Tinna’s Business Model is Unique with Strong Moats Most Diversified Geographical Base With Global & Pan India Presence Most Diversified Customer Base Diversified Product Applications Most Diversified Raw Material Sector Agnostic Applications Base Long-standing 45+ years of Exceptional Product Custom
Slide 26: Strong Focus on Sustainability
Strong Focus on Sustainability Circular Economy Make Use Collect Transform Reuse 8* 1,67,000* 2,50,000* Recycling Tonnes of tyres - Tonnes of CO2 Plants yearly recycling emissions - yearly saving TRIL recovers ~99% material This recycled material is further from ELT, converting them into supplied to
Slide 27: Our Journey so Far
Our Journey so Far 1977 1980 1982 1987 1990 Group founded under the Tie-up with Japan synthetic Introducing light weight TRIL was incorporated Commenced export of Thermo visionary leadership of Rubber for footwear rubber slippers under the and commissioned leather Plastic Rubber compounds Mr. Bhupin
Slide 28: Key Investment Highlights
Key Investment Highlights
Slide 29: Well positioned to capitalize on strong tailwinds
Well positioned to capitalize on strong tailwinds Play on a large market with Diverse product portfolio Global operational scale Experienced board Strong performance drives a strong focus on across a breadth helps build a truly supported by a strong industry-leading financial and circular economy of
Slide 30: Tinna's Industry Diversity Boosts Stability and Lowers Risk
Tinna's Industry Diversity Boosts Stability and Lowers Risk 222 205 190 145 Infrastructure Infrastructure segment sales 01 Segment (38%)* (INR Cr) Crumb Rubber, CRM, CRMB Bitumen Emulsion FY23 FY24 FY25 FY26 163 135 Industrial Industrial 81 98 02 Segment (30%)* Hi-Tensile Ultrafine Reclaim segment s
Slide 31: Well-positioned to serve the infrastructure segment
Well-positioned to serve the infrastructure segment with products like CRM, CRMB, and bitumen emulsions… Product Portfolio Demand for Recycled rubber in Infrastructure segment is expected to grow Indian Market Breakup by End-User Industry (In Million metric tons) A blend of waste tire rubber, & hydr
Slide 32: Complemented by its presence in the industrial segment
…complemented by its presence in the industrial segment, offering products for a variety of applications Product Portfolio Indian Recycled Rubber products Market poised for growth by 2030 Indian Recycled Rubber Product Manufacturing Market (In USD Million) 100% strained, devulcanized rubber, free fr
Slide 33: Further diversifying its portfolio, the company serves the consumer segment
Further diversifying its portfolio, the company serves the consumer segment as well Product Portfolio Indian Recycled Rubber products market poised for significant growth by 2030 It is 100 % REACH, PAH & RoHS Compliant. As a Indian Recycled Rubber Product Manufacturing Market (In USD Million) Ideal
Slide 34: Strategically located facilities
Strategically located facilities… Map of Oman not drawn to scale Map of India not drawn to scale Manufacturing presence Source of ELT tyres Panipat Mathura (Haryana) (Uttar Pradesh) Europe Middle Eastern USA countries Oman Saham Haldia (Al Batnah) Oman (West Bengal) Varale | Wada (Maharashtra) South
Slide 35: Operations led by an experienced board and management team
Operations led by an experienced board and management team Mr. Bhupinder Kumar Sekhri Mr. Gaurav Sekhri Mr. Subodh Kumar Sharma Mr. Abhay Kumar Chairman & Managing Director Joint Managing Director Whole-time Director & COO Chief Financial Officer Mr. Sanjay Jain Mr. Vaibhav Dange Mr. Krishna Prapoor
Slide 36: Business for a Cause
Business for a Cause Tinna dedicated INR 91 lakh in FY26 to CSR programs - driving meaningful change across sports, education, and healthcare sectors. Governance CSR activity framework available through Social Accountability Policy Community Donations provided for hostel redevelopment in local commu
Slide 37: Tinna’s strategies are in place to achieve growth going forward
Tinna’s strategies are in place to achieve growth going forward 01 02 03 04 Expanding tire crushing Tinna leverages its global Tinna aims to pursue Tinna’s strategy fo uses on capacity enhances Tinna's Created y metami se ti ana operational scale to de-risk its Created y metami se ti ana organic and
Slide 38: Annexures
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Slide 39: Consolidated Financial Performance Q4 & FY26
Consolidated Financial Performance Q4 & FY26 Particulars (INR Cr.) Q4FY26 Q3FY26 QoQ Q4FY25 YoY FY26 FY25 YoY Operational Income 157 139 13% 129 22% 546 505 8% Total Expenses 128 116 10% 112 15% 452 429 5% EBITDA 29 23 26% 18 63% 94 76 23% EBITDA Margin (%) 18.2% 16.3% 13.6% 17.1% 15.1% Other Income
Slide 40: Historical Consolidated Income Statement
Historical Consolidated Income Statement Particulars (INR Cr.) FY23 FY24 FY25 FY26 Operational Income 295 363 505 546 Total Expenses 259 300 429 452 EBITDA 37 63 76 94 EBITDA Margin (%) 12.4% 17.2% 15.1% 17.1% Other Income 6 1 5 2 Depreciation & Amortization Expenses 7 6 10 12 Interest 8 7 11 11 Exc
Slide 41: Historical Consolidated Balance Sheet Statement
Historical Consolidated Balance Sheet Statement Assets (INR Cr.) FY23 FY24 FY25 FY26 Equity and Liabilities (INR Cr.) FY23 FY24 FY25 FY26 Non-current assets Equity share capital 9 17 17 18 Property, Plant and Equipment 68 123 179 235 Other equity 87 111 161 282 Capital work-in-progress 0 7 11 42 Tot
Slide 42: Healthy Financial Ratios Highlight Robust Fundamentals
Healthy Financial Ratios Highlight Robust Fundamentals ROCE (%) ROE (%) Working Capital Days 30.84% 31.53% 60 40 42 55 26.09% 27.14% 22.56% 22.71% 18.29% 18.71% 47 46 51 40 44 45 41 30 34 30 34 27 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Receivable Days Inventory Days Payable Days
Slide 43: Through TP Buildtech, Tinna can capitalize on the growth in construction chemicals
Through TP Buildtech, Tinna can capitalize on the growth in the construction chemicals industry The positive outlook for the construction chemicals market presents growth opportunities for TP Buildtech Domestic construction chemicals & Growth Drivers services market (USD Bn) Rapid Urbanization and I
Slide 44: Capital Market Data
Capital Market Data Price Data (As on 31st March, 2026) Number of Public Shareholders Face Value (INR) 10.00 43,546 43,002 Market Price (INR) 533.55 21,701 52 Week H/L (INR) 1,070/529 14,797 Market Cap (INR Cr) 961.23 4,639 6,231 Equity Shares Outstanding (Cr) 1.8 31st March'21 31st March'22 31st Ma
Slide 45: Contact Us
Contact Us Investor Relations Contact: Go India Advisors Sana Kapoor Sakshi Narvekar Associate Vice President Research Associate +91 81465 50469 +91 87792 63625 sana@goindiaadvisors.com sakshiN@goindiaadvisors.com
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