Tinna Rubber and Infrastructure · Material risks, their source context, and severity in the latest available quarter.
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Bitumen prices have nearly doubled due to Middle East crisis and reduced Iranian imports. Infrastructure revenue declined from Rs 222 crore to Rs 205 crore in FY26. Management expects Q1-Q2 softness before normalization as road construction activity resumes.
Oman plant performance was impacted by higher raw material costs and geopolitical disruptions in GCC region. While the plant reached break-even on standalone basis, management expects normalization within Q1 FY27 after implementing corrective actions.
Geopolitical tensions in Middle East led management to delay commencement of capital works for the 24,000 ton/year Saudi Arabia tire recycling facility. Expected to begin work possibly during end of Q2 or Q3, representing uncertainty in Vision 2029 timeline.
Receivable days increased from 42 to 55 days due to new PCMBB business where industry practice involves higher credit periods. Management expects working capital to remain at current levels, potentially constraining cash flow as business scales.
