Tinna Rubber pushes ₹1,000 cr revenue target to FY29, delays South Africa JV
Record tyre processing volumes couldn't prevent a year's delay on the company's flagship target. The South Africa JV and new carbon black plant are also running late.
— 3 earlier stories on Tinna Rubber And Infrastructure Ltd. →What's new
- ₹1,000 cr revenue target delayed by a full year to FY2029; South Africa JV break-even moved to Q2 FY27.
- RCB plant trial runs pushed to Q2 FY27; new pyrolysis and RCB plants to add ₹50-55 cr this year.
- FY26 saw record 1,55,000-tonne tyre processing volumes; consolidated revenue up 8%, profit up 9%.
Why this matters
The core business is delivering, with record volumes and steady profit growth. The delays are in the growth bets: the South Africa JV and the new carbon-black plant were supposed to be running by now. Pushing the ₹1,000 cr target a year out means the open question is whether Tinna can execute on these delayed projects, not just rely on its existing tyre-processing momentum.
What we're watching
- Whether the South Africa JV hits its new Q2 break-even target.
- How the ₹50-55 cr contribution from new plants materialises this fiscal year.
- Sustained EBITDA margins above 18% in the core business.
The full read
Tinna Rubber's core business hit a stride in FY26, processing a record 1,55,000 tonnes of tyres. Revenue grew 8%, net profit rose 9%, and EBITDA margins held above 18%. The issue is the future. The company's headline ambition of ₹1,000 crore in revenue has been pushed back a year to FY2029. The projects supposed to get it there are also late: the South Africa JV break-even is now Q2 FY27 instead of March 2026, and trial runs at the recovered carbon black plant have also slipped to the same quarter. For now, management is guiding 20-25% revenue growth for FY27, with the new plants set to add ₹50-55 crore. The core operation is solid. The open question is whether the delayed growth bets will catch up.
Questions answered
- Why was the ₹1,000 crore revenue target pushed back a year?
- Management deferred the Vision 2028 target to Vision 2029 on the May 2026 concall. The delay comes alongside a pushed-back break-even date for the South Africa JV and postponed trial runs for the recovered carbon black plant, suggesting the growth projects that were supposed to get Tinna to ₹1,000 cr are running late.
- How did the core business perform in FY26?
- Tinna processed a record 1,55,000 tonnes of tyres. Consolidated revenue grew 8% and net profit rose 9%, with EBITDA margins running above 18%. The core business is stable; the delays are in the new ventures.
- What is the revenue guidance for the current year?
- Tinna is guiding for 20-25% revenue growth in FY27. The new pyrolysis and RCB plants are expected to contribute ₹50-55 crore of that growth.
- What is the status of the South Africa joint venture?
- The break-even point for the JV has been moved from March 2026 to the second quarter of FY27. It was part of the growth plan underpinning the original ₹1,000 cr target.
Tinna Rubber And Infrastructure Ltd.
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All notes on TINNARUBR →- 25 May 2026 · 6:26 PM IST Tinna Rubber pushes ₹1,000 cr revenue target to FY29, delays South Africa JV
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