Tinna Rubber raises INR787m, margins improve in Q1

Tinna Rubber and Infrastructure Limited reported Q1 FY26 operational income of INR1,303m, flat quarter-on-quarter but down 4% year-on-year. However, gross margins improved 344 basis points and EBITDA margins rose 237 basis points to 16.0%.

The company raised approximately INR787m through a qualified institutional placement, allocating INR230m toward debt reduction that will save INR14.5m annually in interest costs.

Capacity utilization at its Varale plant nearly doubled to 57% from 30% a year earlier, while its Oman operations reached 85% utilization.