---
title: "Govind Rubber Ltd (GOVINRUBER) — Share Price, Financials & Analysis"
symbol: "GOVINRUBER"
company: "Govind Rubber Ltd"
canonical: "https://tapetide.com/stocks/GOVINRUBER"
sector: "Consumer Discretionary"
industry: "Auto Components"
generated_at: "2026-09-13T20:00:07.078Z"
---

# Govind Rubber Ltd (GOVINRUBER)

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

## Company

- **Sector:** Consumer Discretionary
- **Industry:** Auto Components
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** govindrubber.com, www.grltires.com

## About

Govind Rubber is engaged in the business of manufacturing and selling of Tyres and Tubes business.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.19 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -10.2% over last 3 years.
- Debtor days have increased from 57.5 to 70.6 days.
- Working capital days have increased from 62.4 days to 114 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -242% | — | 13% |
| revenue growth | -15% | 483% | -4% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 44.05 | 32.95 | 36.95 | 25.76 | 13.38 | 1.5 | 0.46 | 0.67 | 0.04 | 0 | 0.35 | 0.06 |
| Expenses | 50.11 | 31.87 | 34.86 | 25.95 | 36.09 | 18.91 | 3.11 | 1.41 | 87.15 | 0.64 | 0.8 | 0.86 |
| Operating Profit | -6.06 | 1.08 | 2.09 | -0.19 | -22.71 | -17.41 | -2.65 | -0.74 | -87.11 | -0.64 | -0.45 | -0.8 |
| OPM % | -13.76 | 3.28 | 5.66 | -0.74 | -169.73 | -1160.67 | -576.09 | -110.45 | -217775 | — | -128.57 | -1333.33 |
| Other Income | -0.18 | 0.63 | 0.07 | 0 | 0.64 | 0.02 | 0.02 | -8.01 | 0 | 0.01 | 0.04 | 0 |
| Interest | 4.64 | 4.45 | 4.5 | 4.4 | 2.47 | 0.42 | 23.95 | 18.16 | -0.75 | 0 | 0 | 0 |
| Depreciation | 0.87 | 0.64 | 0.67 | 0.65 | 0.63 | 0.69 | 0.73 | 0.72 | 0.89 | 0.47 | 0.63 | 0.57 |
| Profit before tax | -11.75 | -3.38 | -3.01 | -5.24 | -25.17 | -18.5 | -27.31 | -27.63 | -87.25 | -1.1 | -1.04 | -1.37 |
| Tax % | -34.13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -7.74 | -3.38 | -3.01 | -5.24 | -25.17 | -18.5 | -27.31 | -27.63 | -87.25 | -1.1 | -1.04 | -1.37 |
| EPS in Rs | -3.54 | -1.55 | -1.38 | -2.4 | -11.53 | -8.47 | -12.51 | -12.65 | -39.95 | -0.5 | -0.48 | -0.63 |

### Profit & Loss

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 360.42 | 301.19 | 267.89 | 186.9 | 98.93 | 2.56 | 0.41 | 37.71 | 95.11 | 81.13 |
| Expenses | 339.11 | 279.62 | 245.75 | 176.28 | 118.64 | 83.18 | 28.1 | 51.89 | 90.33 | 73.3 |
| Operating Profit | 21.31 | 21.57 | 22.14 | 10.62 | -19.71 | -80.62 | -27.69 | -14.18 | 4.78 | 7.83 |
| OPM % | 5.91 | 7.16 | 8.26 | 5.68 | -19.92 | -3149.22 | -6753.66 | -37.6 | 5.03 | 9.65 |
| Other Income | 1.77 | 2.93 | 0.37 | -3.13 | 1.34 | -35.27 | 205.9 | 22.32 | 0.23 | 0.16 |
| Interest | 19.7 | 20.54 | 19.06 | 17.18 | 15.82 | 17.98 | 0 | 0.01 | 1.1 | 2.8 |
| Depreciation | 3.26 | 3.61 | 3.27 | 3.42 | 2.59 | 3.04 | 2.21 | 2.16 | 2.12 | 2.57 |
| Profit before tax | 0.12 | 0.35 | 0.18 | -13.11 | -36.78 | -136.91 | 176 | 5.97 | 1.79 | 2.62 |
| Tax % | -133.33 | 85.71 | 27.78 | -30.43 | 0 | 0 | 7.14 | 166.16 | 187.15 | 303.44 |
| Net Profit | 0.28 | 0.06 | 0.13 | -9.11 | -36.77 | -136.9 | 163.44 | -3.95 | -1.56 | -5.33 |
| EPS in Rs | 0.13 | 0.03 | 0.06 | -4.17 | -16.84 | -62.69 | 74.84 | -1.81 | -0.71 | -2.44 |
| 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 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 21.84 | 21.84 | 21.84 | 21.84 | 21.84 | 21.84 | 21.84 | 5 | 6.75 | 6.75 |
| Reserves | 10.37 | 10 | 10.13 | 1.36 | 0.81 | -136.09 | 27.34 | 23.39 | 29.84 | 24.51 |
| Borrowings | 116.95 | 112.95 | 101.71 | 134 | 133.14 | 117.46 | 33.16 | 32.49 | 34.89 | 29.86 |
| Other Liabilities | 128.9 | 134.88 | 117.51 | 87.97 | 75.41 | 91.09 | 5.6 | 40.2 | 39.74 | 49.56 |
| Total Liabilities | 278.06 | 279.67 | 251.19 | 245.17 | 231.2 | 94.3 | 87.94 | 101.08 | 111.22 | 110.68 |
| Fixed Assets | 40.79 | 39.52 | 43.04 | 40.71 | 73.3 | 70.26 | 68.06 | 66.32 | 65.38 | 63.31 |
| CWIP | 1.76 | 5.63 | 0.05 | 0.57 | 0.98 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3.24 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 |
| Other Assets | 232.27 | 231.39 | 204.97 | 200.76 | 153.79 | 20.91 | 16.75 | 31.63 | 42.71 | 44.24 |
| Total Assets | 278.06 | 279.67 | 251.19 | 245.17 | 231.2 | 94.3 | 87.94 | 101.08 | 111.22 | 110.68 |

### Cash Flow

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 34.15 | 27.93 | 30.08 | 14.92 | 13.03 | 15.03 | 133.64 | 13.46 | -10.54 | 9.03 |
| Cash from Investing Activity | -7.73 | -2.98 | -0.56 | -1.29 | 0.62 | 1.03 | 0.01 | -0.42 | -1.18 | -0.5 |
| Cash from Financing Activity | -25.51 | -24.66 | -30.12 | -13.38 | -13.63 | -17.03 | -128.62 | -17.51 | 11.1 | -7.63 |
| Net Cash Flow | 0.91 | 0.29 | -0.59 | 0.24 | 0.01 | -0.98 | 5.03 | -4.46 | -0.62 | 0.9 |
| Free Cash Flow | 26.22 | 24.41 | 28.21 | 13.49 | 13.01 | 15.03 | 133.64 | 13.04 | -11.72 | 8.53 |
| CFO/OP | 162 | 130 | 136 | 141 | -66 | -19 | -483 | -95 | -220 | 115 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 152.07 | 139.39 | 153.17 | 155.06 | 182.19 | 259.49 | 3721.22 | 52.36 | 49.66 | 70.59 |
| Inventory Days | 64.75 | 151.9 | 116.08 | 191.4 | 204.51 | 4.28 | 26.71 | 208.03 | 105.58 | 122.71 |
| Days Payable | 125.65 | 183.09 | 170.38 | 162.29 | 190.74 | 320.8 | 1175.12 | 273.34 | 75.32 | 45.81 |
| Cash Conversion Cycle | 91.17 | 108.2 | 98.88 | 184.17 | 195.96 | -57.02 | 2572.8 | -12.94 | 79.92 | 147.49 |
| Working Capital Days | 9.37 | 1.16 | 2.77 | -17.15 | -144.33 | -27145.45 | -1157.32 | 9.2 | 63.74 | 114.41 |
| ROCE % | 12.82 | 12.84 | 13.79 | 5.46 | -13.69 | -105.16 | 411.46 | 8 | 4.37 | 8.17 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Jun 2021 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 53.62% | 48.9% | 28.37% | 28.37% | 28.37% | 28.37% |
| DIIs | 0.05% | 0.05% | 19.62% | 19.29% | 19.24% | 19.24% |
| Public | 46.34% | 51.05% | 52.01% | 52.34% | 52.4% | 52.4% |
| No. of Shareholders | 9135 | 10256 | 10187 | 10091 | 9965 | 10038 |

### Quarterly

| Category | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 48.89% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% | 28.37% |
| DIIs | 0.05% | 20.58% | 19.62% | 19.29% | 19.29% | 19.38% | 19.29% | 19.24% | 19.24% | 19.24% | 19.24% | 19.24% |
| Public | 51.06% | 51.05% | 52.01% | 52.34% | 52.34% | 52.26% | 52.34% | 52.4% | 52.4% | 52.4% | 52.4% | 52.4% |
| No. of Shareholders | 10202 | 10218 | 10187 | 10160 | 10154 | 10111 | 10091 | 10079 | 10006 | 9936 | 9965 | 10038 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 0 / 7 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 25.89 | Sell |
| EMA (10) | 25.71 | Sell |
| SMA (20) | 26.77 | Sell |
| EMA (20) | 26.37 | Sell |
| SMA (50) | 27.6 | Sell |
| EMA (50) | 27.57 | Sell |
| SMA (100) | 29.92 | Sell |
| EMA (100) | 28.71 | Sell |
| SMA (200) | 29.78 | Sell |
| EMA (200) | 30.23 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.04 | Neutral |
| MACD (12,26,9) | -0.78 | Sell |
| Stochastic (14,3,3) | 33.1 | Neutral |
| ADX (14) | 15.16 | Neutral |
| Williams %R (14) | -61.25 | Neutral |
| ATR (14) | 1.66 | High Volatility |
| ROC (12) | -6.74 | Sell |
| Stoch RSI (14) | 53.93 | Neutral |
| UO (7,14,28) | 46.3 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport//68463509148.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport//5091480318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport//5091480317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport//5091480316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport//5091480315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport//5091480314.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport//5091480310.pdf) |

---

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 2026-09-13T20:00:07.078Z.