Introduction:
Rubber stock posted weak Q3 FY25 results, with total income dropping 10.9% YoY and revenue declining 3.4%. Net loss widened 82.7% due to rising tax expenses and negative other income. The stock hit a 5% lower circuit amid concerns over deteriorating financial performance.
Share Price movement of Elgi Rubber Company:
On February 13, 2025, Elgi Rubber Company Limited opened at ₹92.90, reaching a high of ₹92.90 and a low of ₹84.16, down 5.00% from its previous close of ₹88.59. Currently, it is trading at ₹84.16, with a market cap of ₹421.22 crore.
Elgi Rubber Company Q3 Results:
Elgi Rubber Company reported a 10.9% YoY drop in total income, declining from ₹10,095.76 crore in Q3 FY24 to ₹8,988.50 crore in Q3 FY25. Revenue from operations slipped 3.4% to ₹9,147.61 crore, while net other income turned negative at ₹(159.11) crore, impacting overall earnings.
Total expenses declined 10.2% YoY to ₹9,278.54 crore, mainly due to a 5.5% drop in material costs at ₹3,895.68 crore. Employee benefit expenses decreased by 19.9% to ₹1,441.45 crore, while finance costs increased 7.2% to ₹742.27 crore. Depreciation and amortization dropped 34.1% to ₹406.95 crore, supporting cost management.
Net loss widened 82.7% YoY to ₹(349.64) crore from ₹(191.36) crore in Q3 FY24, driven by higher tax expenses of ₹68.73 crore. The stock hit a 5% lower circuit after reporting weak results, raising investor concerns over growing losses and declining revenue performance.
Ace investor holding of Elgi Rubber Company:
Ace investor Zaki Abbas Nasser holds a 1.85% stake in Elgi Rubber Company Ltd, with 9,25,000 shares valued at ₹7.8 crore. His holding increased by 0.2% in the latest quarter, indicating confidence in the company’s long-term growth despite recent stock volatility.
Stock performance of Elgi Rubber Company for Period of 1 week, 6 months and 1 year:
Elgi Rubber Company’s stock declined 11.7% over the past week, reflecting short-term market volatility. Over the last six months, it fell 6.98%, indicating a downward trend. However, on a one-year basis, the stock surged 54.7%, showcasing strong long-term growth despite recent corrections.
Shareholding pattern of Elgi Rubber Company:
| All values in % | Dec-24 | Sep-24 | Jun-24 |
| Promoters | 65.03 | 65.03 | 65.03 |
| FII | 0.01 | 0 | 0.01 |
| DII | 3.31 | 3.31 | 3.46 |
| Retail & others | 31.65 | 31.66 | 31.72 |
About Elgi Rubber Company:
Elgi Rubber Company is a leading player in the rubber and retreading industry, specializing in manufacturing reclaim rubber, precured tread rubber, and rubber processing machinery. With a strong global presence, the company serves the automotive, industrial, and infrastructure sectors, focusing on innovation and sustainable solutions.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
