---
title: "Elgi Rubber Company Ltd (ELGIRUBCO) — Share Price, Financials & Analysis"
symbol: "ELGIRUBCO"
company: "Elgi Rubber Company Ltd"
canonical: "https://tapetide.com/stocks/ELGIRUBCO"
isin: "INE819L01012"
nse_symbol: "ELGIRUBCO"
sector: "Industrial Products"
industry: "Rubber Products"
market_cap_cr: 297.1
generated_at: "2026-09-13T19:07:46.041Z"
---

# Elgi Rubber Company Ltd (ELGIRUBCO)

Canonical page: https://tapetide.com/stocks/ELGIRUBCO

## Company

- **NSE Symbol:** ELGIRUBCO
- **ISIN:** INE819L01012
- **Sector:** Industrial Products
- **Industry:** Rubber Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2011-08-10
- **CEO:** Mr. Sudarsan Varadaraj
- **Employees:** 451
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** elgirubber.com

## About

Incorporated in 1981, ELGI Rubber Ltd is in the business of manufacture of Reclaimed rubber, Retreading machinery, and Retread rubber[1]

## Latest Price

- **Price:** ₹58.48
- **Change:** -1.39 (-2.32%)
- **Open:** ₹61
- **Day High:** ₹61
- **Day Low:** ₹57.2
- **Previous Close:** ₹59.87
- **Volume:** 38468
- **As Of:** 2026-09-11T10:21:44+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:56.453870Z.

- **Market Cap:** ₹297.1 Cr
- **Classification:** Microcap
- **P/E (reported):** -1.5
- **EPS (TTM):** ₹-39.54
- **Book Value:** ₹15.11
- **Price to Book:** 3.96
- **Dividend Yield:** 0%
- **ROE:** -317.38%
- **ROCE:** -124.75%
- **Debt to Equity:** 4.12
- **Revenue (yearly):** ₹391.9 Cr
- **Net Income:** ₹-240.2 Cr
- **EBITDA:** ₹-36.2 Cr
- **52-Week High:** ₹73
- **52-Week Low:** ₹32.72
- **RSI (14):** 51.64

## Tapetide Score

- **Score:** 39 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 12 (of 4473 scored stocks)
- **Confidence:** 91%
- **Data coverage:** 81%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 3.99 | 9% |
| growth | 26.66 | 9% |
| momentum | 92.67 | 12% |
| ownership | 50 | 24% |
| quality | 23.09 | 22% |
| valuation | 31.38 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 3.87 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 1.33% over past five years.
- Company has a low return on equity of -21.7% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -42.03% | -290.86% | -172.72% |
| ebitda margin growth | 129.63% | -264.12% | -179.86% | -243.93% |
| net income growth | 119.99% | — | — | — |
| revenue growth | 27.67% | -2.03% | -2% | 1% |
| roce | -127.01% | — | — | -18.11% |
| roe | -120.02% | — | -104.55% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 101 | 95 | 95 | 97 | 99 | 91 | 97 | 86 | 94 | 100 | 86 | 70 |
| Expenses | 89 | 90 | 93 | 92 | 93 | 81 | 112 | 84 | 93 | 124 | 128 | 67 |
| Operating Profit | 13 | 5 | 2 | 5 | 6 | 10 | -15 | 2 | 2 | -24 | -41 | 3 |
| OPM % | 12 | 4.8 | 2.1 | 5 | 6 | 11 | -15 | 1.9 | 1.8 | -24 | -48 | 3.7 |
| Other Income | 9 | 6 | 8 | 27 | -1 | -2 | 8 | 9 | 3 | 5 | -147 | 53 |
| Interest | 6 | 7 | 6 | 7 | 3 | 7 | 8 | 7 | 7 | 12 | 7 | 8 |
| Depreciation | 5 | 6 | 4 | 4 | 7 | 4 | 3 | 4 | 4 | 4 | 6 | 3 |
| Profit before tax | 12 | -2 | -1 | 20 | -5 | -3 | -18 | 0 | -6 | -35 | -201 | 44 |
| Tax % | 13 | -18 | 128 | 1 | -9 | 25 | -4 | 2617 | 1 | -17 | 2 | 8 |
| Net Profit | 10 | -2 | -2 | 20 | -4 | -4 | -17 | -2 | -6 | -29 | -204 | 41 |
| EPS in Rs | 2.04 | -0.38 | -0.34 | 4.05 | -0.83 | -0.7 | -3.4 | -0.3 | -1.2 | -5.73 | -40.77 | 8.16 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 377 | 410 | 368 | 343 | 390 | 394 | 386 | 384 | 366 | 351 |
| Expenses | 359 | 398 | 371 | 323 | 384 | 378 | 362 | 377 | 428 | 412 |
| Operating Profit | 18 | 11 | -2 | 20 | 5 | 17 | 25 | 6 | -62 | -61 |
| OPM % | 4.7 | 2.8 | -0.6 | 6 | 1.4 | 4.2 | 6 | 1.7 | -17 | -17 |
| Other Income | 12 | 8 | 24 | 16 | 13 | 33 | 33 | 33 | -130 | -86 |
| Interest | 17 | 18 | 19 | 16 | 16 | 23 | 25 | 26 | 32 | 33 |
| Depreciation | 18 | 18 | 17 | 17 | 18 | 16 | 19 | 18 | 18 | 17 |
| Profit before tax | -5 | -16 | -15 | 3 | -16 | 10 | 14 | -5 | -241 | -197 |
| Tax % | 22 | -2 | 5 | 66 | 5 | 33 | 15 | -3 | 0 | — |
| Net Profit | -6 | -16 | -15 | 1 | -16 | 7 | 12 | -4 | -240 | -198 |
| EPS in Rs | -1.13 | -3.22 | -3.04 | 0.22 | -3.27 | 1.35 | 2.33 | -0.87 | -48 | -39.54 |
| Dividend Payout % | 0 | 0 | -5 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 244 | 234 | 218 | 181 | 178 | 166 | 179 | 185 | 174 | 71 |
| Borrowings | 246 | 297 | 285 | 268 | 243 | 247 | 271 | 307 | 270 | 313 |
| Other Liabilities | 61 | 53 | 64 | 71 | 68 | 81 | 78 | 69 | 71 | 46 |
| Total Liabilities | 556 | 588 | 572 | 525 | 494 | 500 | 533 | 566 | 520 | 434 |
| Fixed Assets | 234 | 245 | 226 | 208 | 209 | 205 | 228 | 245 | 162 | 123 |
| CWIP | 30 | 29 | 31 | 33 | 21 | 17 | 22 | 16 | 8 | 12 |
| Investments | 7 | 9 | 8 | 4 | 13 | 19 | 29 | 40 | 32 | 31 |
| Other Assets | 284 | 306 | 308 | 281 | 252 | 260 | 255 | 264 | 318 | 267 |
| Total Assets | 556 | 588 | 572 | 525 | 494 | 500 | 533 | 566 | 520 | 434 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -6 | 7 | 33 | 37 | 49 | 16 | 27 | 6 | -8 | -11 |
| Cash from Investing Activity | -1 | -21 | 2 | 16 | 2 | -9 | -29 | -16 | 77 | -6 |
| Cash from Financing Activity | 4 | 13 | -37 | -54 | -47 | -12 | 2 | 10 | -62 | 11 |
| Net Cash Flow | -4 | 0 | -1 | -1 | 5 | -6 | 0 | 0 | 7 | -6 |
| Free Cash Flow | -15 | -17 | 33 | 46 | 50 | 4 | -5 | -8 | 75 | -14 |
| CFO/OP | -19 | 48 | 296 | -1559 | 244 | 299 | 167 | 23 | -134 | 18 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 59 | 50 | 55 | 49 | 57 | 69 | 62 | 58 | 66 | 58 |
| Inventory Days | 250 | 280 | 260 | 281 | 246 | 186 | 215 | 226 | 244 | 149 |
| Days Payable | 59 | 68 | 86 | 110 | 99 | 106 | 88 | 92 | 90 | 39 |
| Cash Conversion Cycle | 250 | 262 | 229 | 221 | 204 | 149 | 189 | 192 | 220 | 169 |
| Working Capital Days | 2 | -28 | -14 | -26 | -52 | -67 | -75 | -71 | -16 | -79 |
| ROCE % | 2 | 2 | 0 | -1 | 4 | 2 | 6 | 6 | 0 | -13 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% | 65.03% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.06% | 0% | 0% |
| DIIs | 1.46% | 1.46% | 1.46% | 1.1% | 0.95% | 0.95% | 0.95% | 0.95% | 0.94% | 0.94% | 0.94% | 0.94% |
| Government | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% |
| Public | 23.15% | 22.51% | 23.68% | 23.92% | 24.1% | 24.18% | 24.52% | 24.45% | 24.61% | 24.34% | 24.91% | 24.96% |
| Others | 8% | 8.64% | 7.47% | 7.59% | 7.57% | 7.48% | 7.14% | 7.22% | 7.06% | 7.28% | 6.76% | 6.71% |
| No. of Shareholders | 14432 | 13360 | 14772 | 14539 | 13771 | 16519 | 16790 | 16449 | 16940 | 16592 | 16505 | 16391 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 6 / 6

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 59.63 | Sell |
| EMA (10) | 59.57 | Sell |
| SMA (20) | 59.31 | Sell |
| EMA (20) | 59.39 | Sell |
| SMA (50) | 59.09 | Sell |
| EMA (50) | 57.76 | Buy |
| SMA (100) | 54.28 | Buy |
| EMA (100) | 54.99 | Buy |
| SMA (200) | 49.04 | Buy |
| EMA (200) | 53.73 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.41 | Neutral |
| MACD (12,26,9) | 0.37 | Sell |
| Stochastic (14,3,3) | 45.54 | Neutral |
| ADX (14) | 17.3 | Neutral |
| Williams %R (14) | -78.83 | Neutral |
| ATR (14) | 3.5 | High Volatility |
| ROC (12) | 0.15 | Buy |
| Stoch RSI (14) | 13.74 | Buy |
| UO (7,14,28) | 44.29 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Sale or disposal](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_09092026182335_ELGIRUBCO_Hyd_Land_sale_completion_09092026.pdf) |
| 2026-08-27 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_27082026155325_ELGIRUBCO_AGM_Proceedings_27082026.pdf) |
| 2026-08-27 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_27082026193335_ELGIRUBCO_AGM_VotingResults_27082026.pdf) |
| 2026-08-13 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_13082026152537_ELGIRUBCO_NEWSPAPER_ADV_130826.pdf) |
| 2026-08-12 | [Other Restructuring](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_12082026160515_ELGIRUBCO_BM_Outcome_12082026.pdf) |
| 2026-08-12 | [Sale or disposal](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_12082026160922_ELGIRUBCO_BM_Outcome_12082026.pdf) |
| 2026-08-11 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_11082026170134_ERCL_Special_Window_NP_adv.pdf) |
| 2026-08-01 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_01082026124607_NSE_Newspaper_Intimation_AGM.pdf) |
| 2026-07-31 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_31072026195139_ELGIRUBCO_AGM_Notice_2025-26.pdf) |
| 2026-07-31 | [General Updates](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_31072026194755_ELGIRUBCO_AGM_Weblink_letter_2025-26.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-12 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_12082026160057_ELGIRUBCO_BM_Outcome_12082026.pdf) |
| 2026-08-12 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_12082026155602_ELGIRUBCO_BM_Outcome_12082026.pdf) |
| 2026-05-28 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_28052026185633_NSE_BM_OUTCOME_28052026.pdf) |
| 2026-05-28 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_28052026185022_NSE_BM_OUTCOME_28052026.pdf) |
| 2026-02-12 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_12022026160106_ELGIRUBCO_BM_OUTCOME_12022026.pdf) |
| 2026-02-12 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_12022026155812_ELGIRUBCO_BM_OUTCOME_12022026.pdf) |
| 2026-01-19 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_19012026194702_ELGIRUBCO_BM_OUTCOME_19012026.pdf) |
| 2025-11-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_13112025185324_BM_OUTCOME_13112025_SD.pdf) |
| 2025-11-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ELGIRUBCO_13112025185623_BM_OUTCOME_13112025_SD.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_30112_ELGIRUBCO_2025_2026_A_2474806_31072026192733.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_26996_ELGIRUBCO_2024_2025_A_17072025194240.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_24552_ELGIRUBCO_2023_2024_17072024172710.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_22503_ELGIRUBCO_2022_2023_25072023184825_07252023190001.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_20566_ELGIRUBCO_2021_2022_02082022163604_08022022170002.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/AR_18545_ELGIRUBCO_2020_2021_28072021195405_28072021200003.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/AR_16672_ELGIRUBCO_2019_2020_06082020162018_06082020170001.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/AR_14918_ELGIRUBCO_2018_2019_16072019193526_16072019200005.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/AR_13139_ELGIRUBCO_2017_2018_20082018111736.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/AR_11380_ELGIRUBCO_2016_2017_13092017113215.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:07:46.041Z.