Tinna Rubber Share Price: Target 2026 to 2030, Valuation and Risks

Tinna Rubber share price today

Anyone looking up the Tinna Rubber share price has arrived at one of the stranger corners of the Indian market. The raw material here is the tyre you threw away. Tinna Rubber and Infrastructure collects end-of-life tyres and breaks them back into their components, then sells those components into roads, sports surfaces, tyre compounding and steel cleaning. It is a circular-economy business wearing the financial clothes of a small industrial commodity processor, and that tension is the whole investment question.

At the 10 September 2026 research cut-off the completed-session price on Yahoo Finance was ₹1,024.20, market capitalisation about ₹1,842 crore and trailing EPS ₹35.21. That works out to roughly 29.1 times trailing earnings and 6.06 times a book value of ₹168.66 per share. The quote widget above updates after publication; every ratio in this article stays fixed to the stated cut-off so the arithmetic remains checkable.

The 52-week range frames the mood. The stock traded as high as ₹1,189.90 and as low as ₹536, so the cut-off price sits 13.93% below the high and roughly 91% above the low. A share that nearly doubled off its floor and then gave back a seventh of its peak is not a quiet compounder. It is a small company whose selling prices move with commodity markets, and the price chart reflects that.

What Tinna Rubber actually does

The company was founded in 1977, is based in New Delhi, and traded as Tinna Overseas Limited until it took its present name in December 2012. It employed 1,037 people at the cut-off and exports alongside its domestic sales. Yahoo Finance classifies it under Basic Materials and, more specifically, Specialty Chemicals, which understates how physical the process actually is.

Output family	Representative products	Where it is consumed
Recycled rubber	Crumb rubber, micronised and coated rubber powders, high tensile reclaim rubber, crumb rubber modifier	Tyre compounding, rubber mats, conveyor belts, gym tiles, crumb rubber infills
Bitumen products	Crumb rubber modified bitumen, polymer modified bitumen, bitumen emulsion	Road construction and resurfacing
Steel materials	Steel abrasives, ceramic foam filters	Surface preparation and metal casting
Recycled polymers	ABS, polypropylene copolymer, high impact polystyrene, LDPE	Automotive parts and moulded plastics
Masterbatches and compounds	Black, white, filler, colour, additive, silicone and biodegradable masterbatches, heat shrinkable compounds	Plastics processing

The logic linking these lines is that a scrap tyre is not one material. Strip it and you get rubber, steel wire and textile. Tinna monetises the rubber as crumb and reclaim, converts part of that crumb into a bitumen modifier for roads, and recovers the steel into abrasives. The polymer and masterbatch lines extend the same idea from tyres into other waste streams. A single feedstock supporting several end markets is a genuine structural advantage, because it reduces the chance that one weak market idles the plant.

The economics: a spread business, not a branded one

It is worth being blunt about what kind of business this is. Tinna buys a waste input whose price is set by scrap markets and sells outputs whose prices track natural and synthetic rubber, bitumen and steel. Profit is the spread between the two, multiplied by volume. There is no consumer brand insulating the middle.

That is why the reported margin matters more here than the growth rate. The figures captured on 10 September 2026 show an operating margin of 18.95% on Yahoo’s basis, and the Screener-derived figures captured on 5 August 2026 put the operating profit margin at 18.53%. Both readings sit in the high teens, which is respectable for a recycler and is the most important single number in the file, because it is the only direct measure of the spread the business actually earns. Two readings a month apart landing within half a point of each other is mildly reassuring on measurement, but it is not evidence of durability: two sources agreeing about substantially the same trailing period is one observation, not a trend.

What the trailing financials show

Trailing measure	10 September 2026 reading	Note
Revenue	₹572 Cr	Yahoo trailing total revenue
EBITDA	₹106 Cr	Yahoo trailing EBITDA
Operating margin	18.95%	Yahoo basis
Profit margin	10.79%	Yahoo basis
Implied trailing net profit	About ₹62 Cr	10.79% applied to ₹572 Cr
Trailing EPS	₹35.21	Yahoo trailing EPS
Shares outstanding	1,80,15,757	About 1.8 crore shares
Employees	1,037	As reported by Yahoo

One transparency point before going further. No multi-year financial-statement tables were captured for this company at the cut-off. The only annual figure available is a net profit of ₹48 crore for the financial year ended March 2025, with no matching revenue line, and no quarterly figures were captured at all. That is why this article contains no quarterly-results section and no five-year revenue table. The multi-year picture below therefore rests on compound growth rates and return ratios rather than on a reconstructed profit and loss account, and readers who want the full statements should open the company’s filings directly.

Growth history and the base-effect problem

The compound growth rates look extraordinary. The Screener-derived figures captured on 5 August 2026 show a five-year sales CAGR of 33.22% and a five-year profit CAGR of 238.19%. The more recent Yahoo readings show year-on-year revenue growth of 19.9% and year-on-year earnings growth of 67.1%.

Growth measure	Reading	How to read it
Sales CAGR, five years	33.22%	Real volume and capacity expansion
Profit CAGR, five years	238.19%	Dominated by an extremely low starting base
Revenue growth, year on year	19.9%	The more recent and more repeatable number
Earnings growth, year on year	67.1%	Operating leverage on a small profit pool
PEG	0.14	Arithmetically true, analytically useless here

A 238% profit CAGR is not a forecastable rate. It is what happens when a company earning very little starts earning something. The same arithmetic produces the PEG of 0.14, which divides a 29 times earnings multiple by a growth rate no business sustains for five more years. PEG is a shorthand that assumes the past growth rate is the future one, and here that assumption is plainly wrong. The P/E ratio guide explains why the denominator matters more than the ratio, and the valuation method used across this site deliberately sets growth by judgment rather than by extrapolating a base effect.

The honest anchor is the 19.9% revenue growth, because revenue cannot be flattered by a small base in the same way profit can.

Returns on capital

Return measure	Reading	Source period
Return on equity	22.09%	Screener-derived, 5 August 2026
Return on capital employed	22.31%	Screener-derived, 5 August 2026
ROCE, five-year average	25.88%	Screener-derived, 5 August 2026
Operating profit margin	18.53%	Screener-derived, 5 August 2026
Dividend yield	0.32%	10 September 2026

These are the most encouraging numbers in the file. A ROCE of 22.31% against a five-year average of 25.88% says the plants have been earning well above any plausible cost of capital, and that the current year is slightly below the recent norm rather than above it. ROE of 22.09% on a book value of ₹168.66 per share is consistent with that. For a definition of what the ratio does and does not capture, see the return on equity guide.

The slight fade from the five-year ROCE average to the current figure is worth watching rather than worrying about. It can come from new capacity that has not yet filled, from a weaker realisation year, or from a larger asset base. Only the statements can separate those, and they were not captured here.

The dividend yield of 0.32% confirms this is a reinvestment case, not an income one.

Balance sheet and ownership

Balance-sheet and holding measure	Reading
Total debt	₹129 Cr
Total cash	₹4 Cr
Debt to equity	42.98%
Book value per share	₹168.66
Price to book	6.06
EV / EBITDA	19.73 (Screener-derived, 5 August 2026)
Promoter holding	69.50%
Promoter pledge	Nil

Debt of ₹129 crore against cash of ₹4 crore and a debt-to-equity ratio near 43% is not alarming for an asset-heavy processor, but it is not a net-cash balance sheet either. A business whose margin depends on a commodity spread carries that leverage with less comfort than a software company would. The debt-to-equity guide sets out how to read the ratio against the volatility of the earnings that service it.

Ownership is concentrated and clean. Promoters hold 69.5% with no shares pledged. That alignment is a genuine positive; the offsetting consideration is that a 69.5% promoter block leaves a small floating stock, which is part of why the price can travel from ₹536 to ₹1,189.90 and back toward ₹1,024 inside a year. Institutional holding percentages were not captured for this name.

What changed between August and September

Two sets of figures a little over a month apart make a useful comparison, because they show how quickly the valuation of a micro-cap moves without any change in the underlying business.

Measure	5 August 2026	10 September 2026
Market capitalisation	₹2,012 Cr	₹1,842 Cr
Price to earnings	32.61	29.09
Price to book	6.72	6.06
Trailing EPS	₹34.40	₹35.21
Book value per share	₹166.80	₹168.66
Dividend yield	0.36%	0.32%
Distance from 52-week high	6.9% below	13.93% below

Earnings and book value both edged up while the market capitalisation fell by about ₹170 crore. The entire de-rating from 32.6 to 29.1 times came from the price, not from the fundamentals. That is normal behaviour in a thinly floated micro-cap, and it is the practical reason scenario work here uses a range of exit multiples rather than a single one.

Valuation at the research cut-off

Valuation measure	Reading, 10 September 2026 unless dated	Interpretation
Completed-session price	₹1,024.20	Fixed research input, not a live figure
Market capitalisation	₹1,842 Cr	Micro-cap; liquidity and execution risk matter
Trailing EPS	₹35.21	Yahoo trailing basis
Recalculated P/E	29.09	Price divided by trailing EPS
Reported P/E	29.05	Yahoo trailing P/E, effectively the same
Price to book	6.06	Against ₹168.66 book value per share
EV / EBITDA	19.73	Screener-derived on the 5 August market capitalisation; enterprise value includes debt
ROE / ROCE	22.09% / 22.31%	Screener-derived, 5 August 2026; the strongest part of the case

Twenty-nine times earnings and six times book is a growth-company rating applied to a materials-processing business. It is defensible while ROCE stays in the low twenties and volumes keep expanding. It offers very little cushion if a bad spread year drops the margin by a few hundred basis points, because on this base a margin move translates straight into the earnings line.

Valuation framework: growth must earn the multiple

The scenario model starts with TTM EPS of ₹35.21. For each year it applies EPS_TTM × (1 + growth)^(year − 2026 + 112/365) × exit P/E, then rounds the result to the nearest ₹5. The 112/365 factor represents the fraction of the first forecast year remaining from 10 September to 31 December.

Scenario	Annual EPS growth	Exit P/E	Business interpretation
Bear	8%	16×	Realisations compress, road demand slows and the market reprices a commodity processor as one
Base	15%	26×	Volume growth roughly tracks recent revenue growth while margin holds in the high teens
Bull	22%	34×	Capacity expansion, export mix and steady bitumen offtake keep ROCE in the mid-twenties

The bear multiple sits well below the present rating because a spread business with a small float can lose a valuation premium quickly. The base multiple sits a little under today’s 29.09 rather than above it, and even the bull case assumes only modest re-rating alongside good growth. None of these growth rates comes close to extrapolating the five-year profit CAGR, for the reason set out earlier. These are scenarios, not probability-weighted forecasts.

Tinna Rubber share price target 2026 to 2030

The grid above is generated purely from the disclosed trailing EPS, the three growth rates and the three exit multiples in the table. It does not model an equity issue, a change in share count, an acquisition, a commodity price shock, a change in the promoter block, government road-spending policy, or any working capital or interest effect from the ₹129 crore of debt. It also cannot include quarterly momentum, because no quarterly figures were captured. Treat it as an arithmetic consequence of three stated assumptions, and rebuild it when the next set of results is published.

Risks that can break the thesis

The first risk is the spread itself. Tinna buys scrap and sells commodity outputs, so a period in which tyre-scrap procurement costs rise while crumb rubber, bitumen or steel abrasive realisations do not will compress margin directly. On a profit pool this size, a few points of margin is a large proportion of earnings.

The second is customer concentration by end market rather than by name. Crumb rubber modified bitumen depends on road construction, which depends on public budgets and tender cycles. A slow year in road awards is not something the company can offset with pricing.

The third is the starting valuation. Six times book and twenty-nine times earnings on a micro-cap means the share price can fall meaningfully even if earnings merely stop growing. The move from ₹1,189.90 to ₹1,024.20 with rising EPS is a small demonstration of exactly that mechanism.

The fourth is disclosure depth. With no multi-year statements and no quarterly series captured here, the trailing figures cannot be checked against a trend. That is a reason to go to the filings before acting on any of it, not a reason to assume the worst.

Finally, feedstock supply is a regulatory question as much as a commercial one. End-of-life tyre collection depends on waste-handling rules and on how organised the scrap channel is. Changes in either direction affect both input cost and the barrier to entry.

What would change the thesis

The scorecard below tracks the numbers this article already has. What would actually move the case is mostly information it does not have.

The largest single change would be the arrival of several consecutive years of statements and a quarterly series. Neither was captured here, which means the 18.95% operating margin and the 22.31% return on capital employed are single points with no line drawn through them. Two or three years of statements would show whether that margin is a level or a peak. Quarterly numbers would show whether the 19.9% revenue growth arrives evenly or in the lumps that a tender-driven order book produces, and lumpy quarters at the same annual rate are a materially different business to underwrite.

Segment disclosure matters almost as much. The company sells crumb and reclaim rubber, bitumen modifiers, steel abrasives, recycled polymers and masterbatches, and nothing captured here splits revenue or profit between them. Without that split there is no way to tell whether the recycling franchise or the road-facing bitumen line is carrying the return on capital, and those two have different customers, different cycles and different reasons to persist. A segment table would turn the product list earlier in this article into an argument about where the economics actually sit.

The export share is the third item, and the one most likely to appear soonest. The company is described as exporting, but every source used here leaves the proportion qualitative. A disclosed export percentage, repeated across periods, is the cleanest available test of whether the business is genuinely diversifying away from Indian road budgets or simply growing alongside them.

Fourth is anything that changes the share count or the float. The scenario grid compounds a per-share number, so an equity issue to fund capacity would reset the arithmetic even if every operating assumption held. The same applies in the other direction: institutional holdings were not captured for this name at all, and the first meaningful institutional position in a stock with a 69.5% promoter block would change who is setting the price in the thin float described earlier.

Monitoring scorecard

Question	Constructive evidence	Warning sign
Is the spread being managed?	Operating margin holds near 19% across price cycles	Margin falls while revenue grows
Is new capacity earning?	ROCE stays near the 25.88% five-year average	Asset base grows while ROCE fades
Is the revenue mix broadening?	Export and non-bitumen lines gain share	Growth depends on road tenders alone
Is leverage under control?	Debt stays near ₹129 Cr or falls	Borrowing rises faster than EBITDA
Is the promoter block stable?	69.5% holding, nil pledge maintained	Any pledge, or a decline in holding
Is growth repeatable?	Revenue growth near or above 19.9%	Deceleration with the multiple unchanged

What the current price assumes

At ₹1,024.20 the market is paying about 29 times trailing earnings and six times book for a company that has compounded sales at 33% over five years and earns a return on capital in the low twenties. That is not an obviously stretched price for those returns, and it is not a cheap one either. The rating implicitly assumes that the last five years of expansion were the beginning of a durable recycling franchise rather than the recovery of a small company from a low base.

A single set of ratios cannot settle that argument, and the rating offers no discount for the fact that it is unsettled. That is the actual decision facing a buyer at ₹1,024.20: whether to pay a durable-franchise multiple on one year of visible evidence, or to wait until the filings supply the years the multiple is already assuming. Those filings are the right place to check the picture assembled here, which is built from market data and ratio history rather than from a full financial history.

FAQ

What is Tinna Rubber’s share price target for 2026?

The 2026 row of the grid above applies each scenario’s growth rate to trailing EPS of ₹35.21 for the 112 days remaining in the calendar year, then multiplies by that scenario’s exit P/E. Because only about 31% of the year remains from the 10 September cut-off, the 2026 figures are driven far more by the assumed multiple than by the assumed growth rate. They are illustrations of arithmetic, not price predictions.

What is the Tinna Rubber share price target for 2030?

The 2030 row compounds trailing EPS forward by roughly 4.3 years at each scenario’s growth rate before applying the exit multiple. Small differences in assumed growth become large differences in outcome over that span, which is why three scenarios are shown rather than one number. Read it as a range of consequences from stated assumptions.

What does Tinna Rubber do?

It recycles end-of-life tyres and other waste streams into saleable materials. The main outputs are crumb rubber and reclaim rubber, crumb rubber modified bitumen and other bitumen products for roads, steel abrasives and ceramic foam filters, recycled polymers such as ABS and polypropylene copolymer, and masterbatches. Its products are used in roads, gym tiles, rubber mats, conveyor belts, automotive parts and tyre compounding.

Who are the promoters of Tinna Rubber?

Promoters held 69.5% of the company at the 10 September 2026 cut-off, with no shares pledged. That is a high and clean promoter holding, which aligns management with shareholders but also leaves a small public float. The current shareholding pattern is filed with the exchanges and should be checked there before relying on the figure.

Is Tinna Rubber listed on NSE or BSE, and what is its ticker?

The company is listed on the NSE under the symbol TINNARUBR, which is the identifier used for the quote and the data in this article. Its Yahoo Finance ticker is TINNARUBR.NS. The NSE quote page linked in the sources section carries the live price, board meeting notices and corporate filings.

What is the Tinna Rubber share price today?

The widget at the top of this page shows the current quote for TINNARUBR.NS. The fixed research price used throughout this article is the ₹1,024.20 close of 10 September 2026, against a 52-week range of ₹536 to ₹1,189.90. Every ratio here is calculated on that cut-off price and will drift as the live price moves.

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Sources and methodology

• Tinna Rubber on Screener.in
• Tinna Rubber quote and filings on NSE
• Tinna Rubber company website

All market figures were captured after the completed 10 September 2026 session. The price, 52-week range, market capitalisation, trailing EPS, book value, trailing revenue and EBITDA, operating and profit margins, debt, cash, debt-to-equity, share count, employee count and the business description come from Yahoo Finance. The return ratios, operating profit margin, five-year sales and profit CAGRs, PEG, EV/EBITDA, promoter holding and pledge percentage come from Screener-derived figures, with the comparison column dated 5 August 2026 where stated. No multi-year statements and no quarterly figures were captured for this company, so none are reproduced or estimated here; the only annual figure available was net profit of ₹48 crore for the year ended March 2025.

Analytical judgment begins at the point where those figures stop. The reading of the business as a spread processor rather than a branded manufacturer, the decision to discount the five-year profit CAGR and the PEG that follows from it, the choice of growth rates and exit multiples in the scenario table, and the risks and monitoring questions are interpretation, not reported data.

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This article is research and education, not personalised investment advice or a recommendation to transact. Gale is not a SEBI-registered investment adviser. The scenarios are illustrations, not guarantees. Verify current exchange filings, liquidity, corporate actions and suitability, and consult a registered adviser before acting.