Established in 1977, Tinna Rubber and Infrastructure Limited (TRIL) is one of Asia's largest recyclers of end-of-life tyres (ELT). The company has built a strong reputation in the sustainable recycling industry, transforming waste tires into valuable products that serve multiple industrial applications. The company specializes in recycling waste tyres to manufacture value-added products, including crumb rubber, crumb rubber modifier (CRM), crumb rubber modified bitumen (CRMB), polymer modified bitumen (PMB), bitumen emulsion, reclaimed rubber, ultrafine crumb rubber compound, and cut wire shots. These products are primarily used in road construction, tyre manufacturing, and the auto parts industry.
The company operates through an integrated business model that encompasses end-to-end solutions in sourcing, processing, and manufacturing of value-added products derived from waste tyres. In 2016-17, the Company established nationwide footprint by setting up plants in North (Panipat - Haryana and Kala-amb - Himachal Pradesh), in South (Gummidipoondi - Tamil Nadu), in East (Haldia - West Bengal), and in West (Wada - Maharashtra) for the manufacturing of Crumb Rubber powder from scrap tyres. This strategic expansion has enabled the company to serve customers across different geographic regions efficiently.
Tinna Rubber & Infrastructure Ltd reports a robust 39% revenue increase in FY25, reaching INR 505 crores. The company has demonstrated strong financial performance across key metrics in its latest financial year. EBITDA increased by 22% to INR 76 crores in FY25, and PAT increased by 20% to INR 48 crores in FY25.
For the full financial year ending March 2025, net profit rose 20.03% to Rs 48.36 crore as against Rs 40.29 crore during the previous year ended March 2024. Sales rose 39.20% to Rs 505.35 crore as against Rs 363.03 crore during the previous year ended March 2024.
The market cap of Tinna Rubber and Infrastructure Ltd (TINNARUBR) is ₹1620.37 Cr as of 4th June 2025. The company's stock trades on both NSE and BSE exchanges under the symbol TINNARUBR. The 52-week high of Tinna Rubber and Infrastructure Ltd (TINNARUBR) is ₹2179.20 and the 52-week low is ₹799.10.
Key stock metrics include a P/E (price-to-earnings) ratio of 33.51 and P/B (price-to-book) ratio of 12.68. The company also provides dividend returns with the Board of Directors having recommended a final dividend of Rs 4 per equity Share (i.e. 40%) at its meeting held on 23 May 2025.
• Revenue (FY25): Rs 505.35 crore (39.20% growth YoY)
• Net Profit (FY25): Rs 48.36 crore (20.03% growth YoY)
• EBITDA (FY25): Rs 76 crore (22% growth YoY)
• 3-Year CAGR: 30% growth in revenue, 27% in EBITDA, 42% in PAT
• Q4 FY25 Revenue: INR 129 crores (up 17% YoY and 5% QoQ)
• Q4 FY25 Net Profit: Rs 11.68 crore (declined 25.42% QoQ)
• Market Capitalization: ₹1,620.37 Crore (as of June 2025)
• Promoter Holding: 71.08% (as of April 2025)
• P/E Ratio: 33.51
• P/B Ratio: 12.68
The company has significantly expanded its operational capacity in recent years. Tire crushing capacity increased to 185,000 metric tonnes per annum, exceeding the earlier guidance of 150,000 tonnes. The company's operations are spread across multiple facilities, with 6 of the company's recycling plants processing 135,000 tonnes of tyres in FY25.
The company maintains a strong focus on sustainability and environmental responsibility. The company recovers 99% of materials from ELTs, which contributes significantly to the circular economy. This high recovery rate demonstrates the company's commitment to maximizing resource utilization and minimizing waste.
The company is on track to achieve its Vision '28, targeting a revenue CAGR of over 25% to reach INR 1,000 crores by FY28. The management has outlined ambitious growth plans supported by strategic investments and capacity expansion.
Capital expenditure completed in FY25 amounted to INR 50 crores, with an additional INR 100 crores planned over the next 2 years. The company has also approved fund raising up to Rs 150 crore by way of issue of equity shares through Qualified Institutions Placements, indicating strong growth aspirations and capital requirements for expansion.
The company has also invested in renewable energy solutions, with the Renewable Energy Solar Power system generating savings of INR 6.5 million in FY25, aligning with expectations for sustainable operations.
The chairman of the company is , and the managing director is Bhupinder Kumar Sekhri. The company maintains strong corporate governance practices, and there is no promoter pledging in Tinna Rubber And Infrastructure Ltd. Promoter holding in Tinna Rubber & Infrastructure Ltd has gone down to 71.08 per cent as of April 2025 from 71.94 per cent as of September 2024.
The company successfully listed on the NSE in April 2025, enhancing its visibility and accessibility in India's capital markets. This development has provided investors with better liquidity and market access for trading the company's shares.
Tinna Rubber & Infrastructure Limited represents a compelling investment opportunity in the sustainable recycling sector, combining strong financial performance with environmental responsibility and strategic growth initiatives. The company's established market position, expanding capacity, and ambitious growth targets make it an interesting proposition for investors seeking exposure to the circular economy and infrastructure development sectors.
