Indag Rubber Reports Sequential Growth in Q2FY26

12 Nov 2025 CW Team

During Q2FY26, the company reported total revenue of Rs 550 million, reflecting a 15 per cent quarter-on-quarter (QoQ) growth compared to Rs 480 million in Q1FY26, though 16 per cent lower year-on-year (YoY) from Rs 650.2 million in Q2FY25. EBITDA stood at Rs 60.2 million, up 57 per cent QoQ, with margins improving by 300 basis points to 11.3 per cent, driven by a better sales mix, improved realizations, and continued focus on cost optimization. Profit After Tax (PAT) came in at Rs 30.6 million, marking a robust 96 per cent QoQ increase.

For the first half of FY26, Indag Rubber reported total revenue of Rs 1.03 billion as against Rs 1.23 billion in H1FY25, while EBITDA stood at Rs 100.1 million, broadly stable compared to Rs 100.4 million in the corresponding period last year. Despite a soft first quarter, the company saw healthy recovery trends in Q2, particularly in the core aftermarket and State Transport Undertaking (STU) businesses.

Commenting on the performance, Vijay Shrinivas, CEO, Indag Rubber, said, “During Q2 FY26, we reported an improvement in both growth and profitability on a sequential basis, supported by a better sales mix, improved realizations, and our continued focus on cost optimization. The quarter also saw healthy volume growth in our core aftermarket business. We are encouraged by the momentum in Q2, which reflects gradual normalization of demand across segments.”

He further added, “H1FY26 marked a period of steady progress despite some volatility in the first quarter, which was impacted by lower STU volumes and softer aftermarket demand. However, we took proactive measures to improve collection efficiency, optimize working capital, and strengthen our operational resilience. These efforts are now yielding results, as reflected in our improved Q2 performance.”

Shrinivas emphasized that the company’s business fundamentals remain strong, supported by improving gross margins and disciplined cost management. He added that retreading continues to gain traction as a reliable and sustainable alternative to new tyres, with growing customer acceptance driven by its economic and environmental advantages.

“We remain focused on driving sustainable growth and enhancing value creation for our stakeholders, while promoting the adoption of retreading as a greener and more efficient mobility solution,” he concluded.

Indag Rubber, one of India’s leading tread manufacturing companies, announced its audited financial results for the quarter and half year ended September 30, 2025, demonstrating sequential growth in both revenue and profitability.During Q2FY26, the company reported total revenue of Rs 550 million, reflecting a 15 per cent quarter-on-quarter (QoQ) growth compared to Rs 480 million in Q1FY26, though 16 per cent lower year-on-year (YoY) from Rs 650.2 million in Q2FY25. EBITDA stood at Rs 60.2 million, up 57 per cent QoQ, with margins improving by 300 basis points to 11.3 per cent, driven by a better sales mix, improved realizations, and continued focus on cost optimization. Profit After Tax (PAT) came in at Rs 30.6 million, marking a robust 96 per cent QoQ increase.For the first half of FY26, Indag Rubber reported total revenue of Rs 1.03 billion as against Rs 1.23 billion in H1FY25, while EBITDA stood at Rs 100.1 million, broadly stable compared to Rs 100.4 million in the corresponding period last year. Despite a soft first quarter, the company saw healthy recovery trends in Q2, particularly in the core aftermarket and State Transport Undertaking (STU) businesses.Commenting on the performance, Vijay Shrinivas, CEO, Indag Rubber, said, “During Q2 FY26, we reported an improvement in both growth and profitability on a sequential basis, supported by a better sales mix, improved realizations, and our continued focus on cost optimization. The quarter also saw healthy volume growth in our core aftermarket business. We are encouraged by the momentum in Q2, which reflects gradual normalization of demand across segments.”He further added, “H1FY26 marked a period of steady progress despite some volatility in the first quarter, which was impacted by lower STU volumes and softer aftermarket demand. However, we took proactive measures to improve collection efficiency, optimize working capital, and strengthen our operational resilience. These efforts are now yielding results, as reflected in our improved Q2 performance.”Shrinivas emphasized that the company’s business fundamentals remain strong, supported by improving gross margins and disciplined cost management. He added that retreading continues to gain traction as a reliable and sustainable alternative to new tyres, with growing customer acceptance driven by its economic and environmental advantages.“We remain focused on driving sustainable growth and enhancing value creation for our stakeholders, while promoting the adoption of retreading as a greener and more efficient mobility solution,” he concluded.

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

Infrastructure Urban

08 May 2026

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Infrastructure Transport

08 May 2026

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..