Eastern Treads Ltd

EASTRED

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Market Cap

₹ 17 Cr

P/E

—

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Eastern Treads Ltd is primarily engaged in manufacturing tread rubber, adhesives, and providing tyre retreading services.

The company expanded its brand presence by establishing model retreading centers in Bengaluru and Chennai for product demonstrations, enhancing brand image.

In 2019-20, the company acquired Shipnext Solutions Private Limited, marking its entry into logistics technology, showcasing ambition to diversify and strengthen its business.

In 2022-23, Eastern Treads initiated comprehensive tyre management services, collaborating with fleets to minimize exposure to cost fluctuations, indicating strategic evolution beyond manufacturing.

The company's extensive nationwide branch network underlines its strong distribution capabilities and commitment to market penetration across India.

Sector

Plantation & Plantation Products

Industry

Rubber - Retreading

Market Cap

17 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

49.7

PEG Ratio

—

P/B Ratio

—

52W High

41.99

52W Low

27.01

Sales CAGR

8.53%

-5.89%

-4.90%

10Y

-4.68%

Profit CAGR

-875.51%

—

10Y

—

ROE

TTM

10.18%

45.06%

104.00%

10Y

-70.39%

ROCE

TTM

4.23%

-331.73%

-26.88%

10Y

4.13%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TYROON	93.03	32 Cr	—	0.71	0.00	-4.13	-2.32	-2.88
VPL	43.00	27 Cr	15.14	0.98	0.00	6.34	8.37	4.28
COCHMAL	140.00	25 Cr	17.83	0.00	0.00	-75.27	67.27	75.54
VAMSHIRU	47.69	20 Cr	21.20	1.32	0.00	6.21	7.39	1.97
INDONG	10.25	20 Cr	68.33	0.64	0.00	-3.60	-2.65	-2.88
EASTRED	32.25	17 Cr	—	0.00	0.00	10.18	4.23	-3.84
BANSTEA	14.14	9 Cr	—	1.49	0.00	-1.10	-1.10	-1.13

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022
Sales	20	16	14	18	19	19	17	21	16	21
Expenses	19	15	14	17	17	18	18	21	17	24
Operating Profit	0.97	0.64	0.52	1.14	1.78	0.69	-0.59	-0.84	-1.10	-2.90
OPM %	4.79	4.08	3.70	6.40	9.35	3.65	-3.46	-4.07	-7.05	-13.63
Other Income	0.06	0.08	0.03	0.06	0.19	0.15	0.01	0.11	0.08	0.08
Interest	0.83	0.86	0.84	1.05	0.65	0.81	0.78	0.87	0.85	0.73
Depreciation	0.64	0.58	0.60	0.60	0.43	0.51	0.50	0.47	0.44	0.43
Profit Before Tax	-0.44	-0.71	-0.89	-0.45	0.88	-0.47	-1.85	-2.07	-2.31	-3.97
Tax %	13.64	-23.94	7.87	6.67	-5.68	34.04	3.24	3.38	2.16	0.76
Net Profit	-0.38	-0.88	-0.82	-0.42	0.94	-0.31	-1.79	-2.00	-2.26	-3.94
EPS in Rs	-0.64	-1.61	-1.57	-0.77	1.64	-0.83	-3.16	-4.09	-2.76	-7.53

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Sales	95	97	78	67	72	75
Expenses	92	94	74	63	77	80
Operating Profit	3.68	3.79	4.01	4.05	-5.20	-5.43
OPM %	3.86	3.89	5.12	6.08	-7.19	-7.28
Other Income	0.22	0.47	0.24	0.49	0.34	0.28
Interest	3.27	3.62	3.25	3.31	3.20	3.23
Depreciation	2.11	2.64	2.50	2.12	1.83	1.84
Profit Before Tax	-2.48	-2.00	-1.50	-0.89	-9.89	-10
Tax %	7.40	9.32	-1.51	35.80	2.14	2.06
Net Profit	-2.29	-1.82	-1.53	-0.57	-9.68	-9.99
EPS in Rs	—	—	-2.57	-1.53	-17.54	-17.54
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Equity Capital	5.41	5.41	5.41	5.41	5.41
Reserves	4.49	2.52	1.12	0.35	-4.93
Borrowings	24	28	33	34	33
Other Liabilities	22	20	15	14	14
Total Liabilities	56	56	55	55	47
Fixed Assets	16	17	15	12	16
CWIP	2.53	0.43	1.12	1.71	0.17
Investments	0.00	0.00	0.00	0.00	0.00
Other Assets	37	38	39	41	31
Total Assets	56	56	55	55	47

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Cash from Operating Activity	3.51	1.74	-1.68	3.36	1.40
Cash from Investing Activity	-4.25	-1.23	-0.84	-0.39	2.53
Cash from Financing Activity	1.02	-0.77	1.77	-2.64	-3.65
Net Cash Flow	0.28	-0.27	-0.75	0.32	0.27

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	65.67%	65.67%	65.67%	65.67%	65.67%	66.26%	66.26%	66.26%	65.78%	65.75%	65.74%	65.48%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	34.33%	34.33%	34.33%	34.33%	34.33%	33.74%	33.74%	33.74%	34.22%	34.25%	34.26%	34.52%
Total Shareholders	1,887	1,876	1,875	1,858	1,847	1,969	2,047	2,084	2,141	2,177	2,204	2,256

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 28, 2024	Navas meeran	Insider - Promoter & Director	Acquisition	35.70	0.11 Cr	31,000	0.59
Jan 05, 2024	Sumanchepuri	Bulk	Sell	46.36	0.22 Cr	48,000	0.91
Jan 05, 2024	Sumanchepuri	Bulk	Buy	46.06	0.00 Cr	702	0.01
Dec 06, 2023	Pankaj mansukhlal shah	Bulk	Sell	35.54	0.00 Cr	615	0.01
Dec 06, 2023	Thomas george muthoot	Bulk	Sell	32.26	0.15 Cr	46,878	0.89
Dec 06, 2023	Pankaj mansukhlal shah	Bulk	Buy	33.07	0.09 Cr	27,386	0.52

Projection

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In 2019-20, the company acquired Shipnext Solutions Private Limited, marking its entry into logistics technology, showcasing ambition to diversify and strengthen its business.

In 2022-23, Eastern Treads initiated comprehensive tyre management services, collaborating with fleets to minimize exposure to cost fluctuations, indicating strategic evolution beyond manufacturing.

The company's extensive nationwide branch network underlines its strong distribution capabilities and commitment to market penetration across India.

Sector

Plantation & Plantation Products

Industry

Rubber - Retreading

Market Cap

17 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

49.7

PEG Ratio

—

P/B Ratio

—

52W High

41.99

52W Low

27.01

Sales CAGR

8.53%

-5.89%

-4.90%

10Y

-4.68%

Profit CAGR

-875.51%

—

10Y

—

ROE

TTM

10.18%

45.06%

104.00%

10Y

-70.39%

ROCE

TTM

4.23%

-331.73%

-26.88%

10Y

4.13%