Are Indag Rubber latest results good or bad?

Indag Rubber has reported its financial results for the quarter ending June 2025, revealing several concerning trends. The company's net sales for the quarter amounted to Rs 45.01 crore, which is a notable decline compared to the average of Rs 57.11 crore over the previous four quarters. This figure represents the lowest quarterly sales for Indag Rubber in the past five quarters, indicating a negative trend in sales performance.
Additionally, the Profit After Tax (PAT) for the latest six months was recorded at Rs 2.41 crore, reflecting a significant year-on-year decline of 48.39%. The operating cash flow has also reached its lowest level in three years at Rs 6.51 crore, suggesting a downturn in cash revenues from business operations.

Moreover, the company has seen a substantial rise in non-operating income, which now constitutes 240% of Profit Before Tax (PBT). This raises concerns regarding the sustainability of its core business model. The annual dividend per share has decreased to Rs 2.40, marking the lowest level in five years and indicating reduced returns for shareholders.

In light of these results, Indag Rubber has experienced an adjustment in its evaluation, reflecting the challenges faced in its operational performance. Overall, the financial data highlights significant declines in key metrics, suggesting a need for the company to address underlying operational issues.