Tinna Rubber and Infrastructure Ltd reported an 8% revenue growth to ₹545.81 crore for FY26. The company's profit after tax increased by 9% to ₹52.85 crore, with EBITDA margins improving. Key growth drivers included higher tyre processing volumes and a significant contract from IOCL.
Tinna Rubber and Infrastructure Ltd. Posts Strong FY26 Performance
FY26 Revenue: ₹545.81 crore FY26 Profit After Tax: ₹52.85 crore Reader Takeaway: Robust revenue growth and profit increase driven by operational efficiency and new contracts, but geopolitical risks loom. ## What just happened Tinna Rubber and Infrastructure Limited (TRIL) announced its annual report for FY26, highlighting a record performance with consolidated revenue from operations reaching ₹545.81 crore, an 8% increase from ₹505.35 crore in FY25. The company's Profit After Tax (PAT) saw a 9% rise to ₹52.85 crore. EBITDA margins improved by 206 basis points to 17.1%. TRIL also achieved its highest-ever tyre processing volumes, increasing by 13% to 155,000 TPA in India. The company commissioned Tyre Pyrolysis Oil (TPO) and Recovered Carbon Black (rCB) plants and secured a two-year contract with Indian Oil Corporation Limited (IOCL) worth approximately ₹75.79 crore. ## Why this matters The strong financial results and operational achievements demonstrate TRIL's effective execution of its business strategies, particularly its focus on circular economy initiatives and capacity expansion. The IOCL contract and potential government incentives provide near-to-medium term revenue visibility. The company's successful listing on the NSE and QIP fundraising earlier in the year have provided the capital for growth. ## The backstory TRIL is focused on tyre processing and recycling, aiming to build a sustainable business model. The company listed on the NSE in April 2025 and raised ₹78.7 crore via QIP in Q1 FY26. It completed ₹107 crore in capital expenditure during FY26 and plans further investments of ₹100 crore for FY27-FY28. The company's 'Vision 2029' aims for 10 locations and ₹1,000 crore in revenue. ## What changes now With the commissioning of TPO and rCB plants, TRIL is diversifying its product portfolio. The company plans to expand its polymer compounding facility and MRP capacity in the coming financial years. The board has recommended a final dividend of ₹3.25 per share for FY26. ## Risks to watch Geopolitical tensions in West Asia have impacted raw material costs and logistics for operations in Oman and export markets. Initial start-up costs are also being incurred for overseas operations in South Africa and Saudi Arabia as the company establishes its market presence. ## Peer comparison TRIL operates in the tyre recycling and rubber products sector. While specific direct financial comparisons for FY26 are pending, the company's focus on integrated recycling and value-added products like TPO and rCB positions it uniquely. The infrastructure segment is shifting towards premium offerings, and the consumer segment saw 23% revenue growth. ## Context metrics - Tyre crushing capacity in India stood at 185,000 TPA by the end of FY26. - Capacity utilisation in India was 90% and in Oman was 85%. - Exports volume grew by 30%. - The company is eligible for an approximately ₹22-24 crore grant over six years under the Maharashtra Government's PSI – 2019 scheme. ## What to track next Investors will be keen to monitor the progress of TRIL's international expansion projects in South Africa and Saudi Arabia, the contribution of TPO and rCB to the company's profitability, and the successful integration of the IOCL supply contract.
