---
title: "Kandhari Rubbers Ltd (530603) — Share Price, Financials & Analysis"
symbol: "530603"
company: "Kandhari Rubbers Ltd"
canonical: "https://tapetide.com/stocks/530603"
bse_code: "530603"
generated_at: "2026-10-13T11:02:25.900Z"
---

# Kandhari Rubbers Ltd (530603)

Canonical page: https://tapetide.com/stocks/530603

## Company

- **BSE Code:** 530603
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** kandhari.com

## About

Kandhari Rubbers Limited, is a manufacturer of butyl rubber inner tubes for tire s of light and heavy duty vehicles, agricultural machines, and off road vehicles. Kandhari also manufactures mud flaps.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -167% | -26% | 2% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1196 | 986 | 1189 | 1156 | 1176 | 1180 | 967 | 1138 | 1197 | 1210 | 1297 | 1388 |
| Expenses | 967 | 849 | 977 | 905 | 920 | 921 | 763 | 907 | 945 | 963 | 1019 | 1080 |
| Operating Profit | 228 | 137 | 213 | 250 | 256 | 259 | 203 | 230 | 252 | 247 | 278 | 308 |
| OPM % | 19 | 14 | 18 | 22 | 22 | 22 | 21 | 20 | 21 | 20 | 21 | 22 |
| Other Income | 3 | 0 | 2 | 1 | 2 | 2 | 3 | 6 | 33 | -10 | -1 | -4 |
| Interest | 19 | 22 | 26 | 29 | 29 | 27 | 26 | 27 | 24 | 24 | 29 | 29 |
| Depreciation | 49 | 49 | 53 | 52 | 53 | 53 | 53 | 57 | 64 | 69 | 72 | 74 |
| Profit before tax | 164 | 65 | 136 | 170 | 176 | 181 | 128 | 153 | 198 | 145 | 176 | 202 |
| Tax % | 27 | 27 | 25 | 26 | 26 | 26 | 24 | 23 | 23 | 22 | 26 | 26 |
| Net Profit | 120 | 48 | 102 | 126 | 130 | 135 | 97 | 118 | 152 | 113 | 131 | 150 |
| EPS in Rs | 4.94 | 1.98 | 4.21 | 5.18 | 5.35 | 5.56 | 4.01 | 4.85 | 6.27 | 4.64 | 5.38 | 6.19 |

### Profit & Loss

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0.01 | 0.18 | 0.02 | 0.18 | 0 | 0 | 0 | 0 |
| Expenses | 0.07 | 0.06 | 0.07 | 0.13 | 0.11 | 0.15 | 0.07 | 0.09 | 0.06 | 0.09 |
| Operating Profit | -0.07 | -0.06 | -0.06 | 0.05 | -0.09 | 0.03 | -0.07 | -0.09 | -0.06 | -0.09 |
| OPM % | — | — | -600 | 27.78 | -450 | 16.67 | — | — | — | — |
| Other Income | 0.03 | 0.04 | 0.27 | 0.06 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.01 |
| Interest | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.04 | -0.02 | 0.21 | 0.11 | -0.09 | 0.04 | -0.05 | -0.07 | -0.03 | -0.08 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.04 | -0.02 | 0.21 | 0.11 | -0.09 | 0.04 | -0.05 | -0.07 | -0.03 | -0.08 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 | 3.65 |
| Reserves | -6.59 | -6.61 | -6.41 | -6.29 | -6.38 | -6.34 | -6.39 | -6.47 | -6.47 | -6.54 |
| Borrowings | 8.55 | 8.55 | 8.55 | 8.58 | 8.59 | 8.58 | 8.55 | 8.55 | 8.55 | 8.55 |
| Other Liabilities | 0.49 | 0.43 | 0.4 | 0.41 | 0.4 | 0.29 | 0.29 | 0.28 | 0.29 | 0.27 |
| Total Liabilities | 6.1 | 6.02 | 6.19 | 6.35 | 6.26 | 6.18 | 6.1 | 6.01 | 6.02 | 5.93 |
| Fixed Assets | 5.12 | 5.12 | 5.12 | 5.12 | 5.12 | 5.12 | 5.12 | 5.12 | 5.12 | 5.12 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0.98 | 0.9 | 1.07 | 1.23 | 1.14 | 1.06 | 0.98 | 0.89 | 0.9 | 0.81 |
| Total Assets | 6.1 | 6.02 | 6.19 | 6.35 | 6.26 | 6.18 | 6.1 | 6.01 | 6.02 | 5.93 |

### Cash Flow

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

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.01 | 0 | 0.14 | -0.04 | 0 | 0.04 | -0.07 | 0.01 | 0 | 0.01 |
| Cash from Investing Activity | 0 | 0 | -0.01 | 0 | 0 | 0 | 0 | -0.1 | 0 | 0 |
| Cash from Financing Activity | 0 | 0 | 0 | 0.03 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0.01 | 0 | 0.13 | -0.01 | 0 | 0.04 | -0.07 | -0.09 | 0 | 0.01 |
| Free Cash Flow | 0.01 | 0 | 0.13 | -0.04 | 0 | 0.04 | -0.07 | 0.01 | 0 | 0.01 |
| CFO/OP | -14 | 0 | -233 | -80 | 0 | 133 | 100 | -11 | 0 | -11 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | — | 1460 | 446.11 | 2190 | 121.67 | — | — | — | — |
| Inventory Days | — | — | — | 365 | 1095 | 219 | — | — | — | — |
| Days Payable | — | — | — | 3406.67 | 14235 | 2044 | — | — | — | — |
| Cash Conversion Cycle | — | — | 1460 | -2595.56 | -10950 | -1703.33 | — | — | — | — |
| Working Capital Days | — | — | 18250 | 1318.06 | 10402.5 | 1135.56 | — | — | — | — |
| ROCE % | -0.71 | -0.36 | 3.69 | 1.88 | -1.36 | 0.68 | -0.85 | -1.21 | -0.52 | -1.4 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Feb 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 53.45% | 44.94% | 42.9% | 42.86% | 42.04% | 41.98% | 42.02% | 41.96% | 38.83% | 38.02% |
| FIIs | 10.04% | 10.6% | 12.77% | 21.7% | 23.11% | 23.19% | 23.9% | 19.57% | 15.14% | 13.79% |
| DIIs | 1.5% | 6.95% | 3.01% | 3.01% | 1.5% | 3.98% | 5.03% | 10.7% | 22.45% | 18.51% |
| Public | 35.01% | 37.51% | 41.32% | 32.43% | 33.36% | 30.85% | 29.05% | 27.77% | 23.56% | 29.68% |
| No. of Shareholders | 72665 | 108800 | 103867 | 89519 | 193871 | 210785 | 187777 | 182142 | 169802 | 163818 |

### Quarterly

| Category | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Feb 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 42.02% | 41.97% | 41.97% | 41.96% | 38.87% | 38.87% | 38.85% | 38.83% | 38.82% | 38.81% | 38.81% | 38.02% |
| FIIs | 21.35% | 21.48% | 18.78% | 19.57% | 20.39% | 19.49% | 15.87% | 15.14% | 13.24% | 14.09% | 13.55% | 13.79% |
| DIIs | 6.68% | 7.06% | 10.16% | 10.7% | 14.11% | 14.85% | 19.57% | 22.45% | 23.52% | 17.91% | 17.47% | 18.51% |
| Public | 29.95% | 29.51% | 29.1% | 27.77% | 26.61% | 26.8% | 25.71% | 23.56% | 24.41% | 29.17% | 30.15% | 29.68% |
| No. of Shareholders | 201054 | 207055 | 190691 | 182142 | 179870 | 202198 | 177554 | 169802 | 169700 | 165542 | 163184 | 163818 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 6 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 2.92 | Sell |
| EMA (10) | 2.9 | Sell |
| SMA (20) | 2.99 | Sell |
| EMA (20) | 2.97 | Sell |
| SMA (50) | 3.19 | Sell |
| EMA (50) | 3.17 | Sell |
| SMA (100) | 3.5 | Sell |
| EMA (100) | 3.42 | Sell |
| SMA (200) | 3.82 | Sell |
| EMA (200) | 3.82 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 37.77 | Neutral |
| MACD (12,26,9) | -0.09 | Sell |
| Stochastic (14,3,3) | 37.74 | Neutral |
| ADX (14) | 34.81 | Buy |
| Williams %R (14) | -64.15 | Neutral |
| ATR (14) | 0.25 | High Volatility |
| ROC (12) | -6.31 | Sell |
| Stoch RSI (14) | 41.94 | Neutral |
| UO (7,14,28) | 57.12 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-05 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/xml-data/corpfiling/AttachLive/fbaea60c-7d81-40f1-93fc-e93e17ac09a3.pdf) |
| 2026-03-02 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/43bdde79-aabc-44dd-93cd-c7858f799caf.pdf) |
| 2026-02-23 | [Announcement under Regulation 30 (LODR)-Allotment](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2517e101-d662-4b9d-b6e3-346943cb871f.pdf) |
| 2026-02-06 | [Updates](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ec0ad768-a5d6-4d46-b893-a6cf6becff42.pdf) |
| 2026-01-28 | [Transcript For Earnings Conference Call For Q3 Of FY26](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c12b02fe-03c4-4062-9aa8-c934f61b6da5.pdf) |
| 2026-01-23 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b773ccd3-de6c-41cd-b900-9de226353fbe.pdf) |
| 2026-01-23 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/db50795f-3cf6-4abe-a1ef-dab8d469fbc9.pdf) |
| 2026-01-23 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e01c8d60-f4eb-4cfd-bd6a-520dc5179b21.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3cc866b6-0306-4800-bc74-01a805857053.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/261598f2-564e-4449-82ef-09d48d84a9df.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/95313296-15df-4496-a0b4-cabf7a28c25e.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/532482/73456532482.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/532482/68873532482.pdf) |
| Mar 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/532482/5324820320.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/532482/5324820319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/532482/5324820318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/532482/5324820317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/532482/5324820316.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jan 2026 | [Concall - Jan 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c12b02fe-03c4-4062-9aa8-c934f61b6da5.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/772bee6e-3a91-41d7-bed0-511154af3068.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/866f0b73-596a-44ac-a724-97d4f9efa249.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b6629c4-8ee6-4dcb-bf82-7bc68b4c0e60.pdf) |
| Jan 2025 | [Concall - Jan 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9f2f1069-0079-4950-8d40-9b4488193f37.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f30fccec-6e0a-4acd-badf-16bbfb662710.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b76af9ed-d3a1-4480-a760-3b2f20cd9ee1.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ccff4b3e-5491-400a-8683-ff7d06d28219.pdf) |
| Jan 2024 | [Concall - Jan 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fab0de28-7d66-462f-9d0f-9ad97e6a0490.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/572b8e2d-3324-4a7e-8f91-45af3a8611f7.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-01-19 | Credit rating update — ICRA |
| 2026-01-16 | Credit rating update — India Ratings |
| 2024-11-06 | Credit rating update — ICRA |
| 2024-10-18 | Credit rating update — India Ratings |
| 2023-09-22 | Credit rating update — India Ratings |
| 2023-08-07 | Credit rating update — ICRA |

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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 2026-10-13T11:02:25.900Z.