Ameenji RubberShare price, financial results, shareholding and management
- Market cap
- ₹277 cr
- Stock P/E
- 43.7peers 26.4
- Book value
- ₹47.9
- Price to book
- 5.13
- EV / operating profit
- -
- Market cap to sales
- 2.25
- ROCE · FY26
- 16.9%
- ROE · FY26
- 16.7%
- ROE, 3-year average
- 63.1%
- Operating margin · FY26
- 15.7%peers 10.7%
- Sales growth, 3 years
- 18.5%
- Profit growth, 3 years
- 16.6%
- Debt to equity
- 1.02peers 0.28
- Borrowings
- ₹55 cr
- Interest cover
- 2.5×
- Cash from business / op. profit
- 10%
- Debtor days
- 67
- Pledged
- 0.00%
- Promoter holding
- 67.71%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 560
- 52-week high / low
- ₹293 / ₹109
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Ameenji Rubber share price chart
Close on 6 Nov 2026 · +1.99% on the day · Vol 4,800
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -15.3%
- 3 months
- +75.4%
- 6 months
- +46.6%
- 1 year
- +74.1%
- Traded a day, 20 days
- ₹0.15 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +31% | -21% |
| 3 years, a year | +19% | +17% |
About Ameenji Rubber: business, products and customers
Ameenji Rubber makes rubber parts for railways and bridges: pads that sit under railway tracks, the rubber tubes that join train coaches, bridge bearings and expansion joints. It is based near Hyderabad and its shares trade on BSE SME.
Ameenji Rubber was set up in 2006 and runs one plant at Kucharam village near Hyderabad, where it mixes natural and synthetic rubber and presses it into moulded parts. Its railway products are grooved rubber pads placed between rails and concrete sleepers, rubber vestibules that connect passenger coaches and rubber level-crossing panels; its infrastructure products are elastomeric and POT-PTFE bridge bearings and expansion joints for bridges, flyovers and highways. Small side lines include rubber sheets, gym mats and cow mats.
Buyers are Indian Railways, which buys pads and vestibules directly by tender, and road and bridge contractors working on national highway, metro and freight corridor projects. Selling to them needs vendor approval from RDSO, MoRTH and the Dedicated Freight Corridor Corporation, which the company holds, and every lot is inspected before it is accepted. The company runs its own NABL-accredited test lab at the plant.
Read more about the business
The business model shapes the numbers. Rubber and steel are the largest cost and prices are fixed in tenders, so margins move with rubber prices; government contracts carry a price variation clause that lets part of a sharp rise be recovered. Railway inspection stretches payment to three or four months, and the company buys rubber in bulk when it is cheap, so a lot of money sits in stock and dues. Bridge and road work slows in the monsoon, so the second half of each year is usually the stronger one.
The offer document says the company has no directly comparable listed competitor, and the operations head told investors that about twenty to twenty-five makers actively supply rail pads, most of them unlisted. What is new: the company listed in October 2025 and is using the issue money to modernise its presses and add a conveyor belt line for mining, cement and steel plants, and it has supplied rubber wheels for the Arjun tank for field trials.
From the offer document (red herring prospectus, 2025), the November 2025 earnings call, the November 2025 investor presentation and the FY26 annual report.
Read the deeper study ↓In its favour
- The promoters own a large part of the company: 67.71%.
To watch
- Start of the conveyor belt line and the machinery bought with issue money, with ₹4.4 cr of that money still unspent at March 2026 (Annual report FY26, p.31).
- Field trials of rubber wheels for the Arjun tank and the order of about 180 the company says could follow (Earnings call transcript, November 2025, p.6).
- Trial orders for rail pads under the new railway specifications (Earnings call transcript, November 2025, p.4 and p.14).
- Exports to Iraq and Saudi Arabia after they fell to ₹2.2 cr in FY26 (Annual report FY26, p.57).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Ameenji Rubber revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.
SME companies report every six months.
Ameenji Rubber half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 39 | 42.70 | 80.55 |
| Expenses | 32 | 31.51 | 72.46 |
| Operating profit | 7 | 11.20 | 8.09 |
| OPM | 18.0% | 26.2% | 10.0% |
| Interest | 2 | 3.41 | 2.68 |
| Depreciation | 2 | 2.29 | 2.68 |
| Profit before tax | 3 | 5.74 | 3.18 |
| Net profit | 2 | 4.38 | 1.96 |
Ameenji Rubber profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 85 | 74 | 83 | 94 | 123.25 |
| Expenses | 79 | 65 | 71 | 75 | 103.96 |
| Operating profit | 6 | 9 | 12 | 19 | 19.29 |
| OPM | 7.0% | 12.0% | 15.0% | 20.0% | 15.7% |
| Other income | 0 | 0 | 1 | 0 | 0.69 |
| Interest | 3 | 3 | 4 | 5 | 6.09 |
| Depreciation | 2 | 2 | 2 | 3 | 4.97 |
| Exceptional and other items | 1 | · | · | · | · |
| Profit before tax | 2 | 4 | 7 | 11 | 8.91 |
| Tax rate | 50.0% | 0.0% | 28.6% | 27.3% | 28.8% |
| Net profit | 1 | 4 | 5 | 8 | 6.34 |
| EPS ₹ | 4.87 | 15.22 | 5.50 | 9.28 | 5.62 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Ameenji Rubber profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 7.0% | 12.0% | 15.0% | 20.0% | 15.7% |
| Tax rate | 50.0% | 0.0% | 28.6% | 27.3% | 28.8% |
| ROCE | · | 25.5% | 68.8% | 47.1% | 16.9% |
| ROE | · | 50.0% | 100.0% | 72.7% | 16.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ameenji Rubber debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are now larger than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY23, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Ameenji Rubber balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 2 | 2 | · | 8 | 11 |
| Reserves | 4 | 8 | · | 14 | 43 |
| Net worth | 6 | 10 | · | 22 | 54 |
| Borrowings | 17 | 22 | · | 46 | 55 |
| Other liabilities | 28 | 23 | · | 35 | 36 |
| Total liabilities | 51 | 55 | · | 103 | 145 |
| Fixed assets | 10 | 16 | · | 28 | 49 |
| Capital work in progress | 6 | 0 | · | 2 | 5 |
| Investments | 0 | 0 | · | 0 | 0 |
| Other assets | 35 | 39 | · | 73 | 91 |
Ameenji Rubber cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 11 | 2 | · | 8 | 2 |
| Cash from investing | -7 | -3 | · | -14 | -26 |
| Cash from financing | -7 | 2 | · | 6 | 29 |
| Net cash flow | -3 | 1 | · | 0 | 5 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 65 | 48 | · | 66 | 67 |
| Inventory days | 65 | 152 | · | 331 | 240 |
| Days payable | 131 | 150 | · | 210 | 144 |
| Cash conversion cycle | -1 | 49 | · | 187 | 163 |
| Working capital days | -27 | 9 | · | 37 | 42 |
Ameenji Rubber peers and competitors
Listed SME companies in the same industryBy sales, Ameenji Rubber is number 71 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Monolithisch India | 2,616 | 113.7 | 135 | 23 | 24.0% | 0.05 |
| Technocrats Plasma Systems | 750 | 50.0 | 131 | 15 | 20.0% | 0.38 |
| Bhadora Industries | 279 | 27.9 | 125 | 10 | 13.0% | 0.22 |
| Ameenji Rubber | 277 | 43.7 | 123 | 6.3 | 15.7% | 1.02 |
| Rex Pipes And Cables Industries | 152 | 32.7 | 121 | 4.7 | 7.0% | 0.72 |
| Paramount Speciality Forgings | 65 | 15.3 | 120 | 4.3 | 6.2% | 0.50 |
| Barflex Polyfilms | 126 | 26.4 | 119 | 4.8 | 5.4% | 0.21 |
| Royal Arc Electrodes | 167 | 16.6 | 116 | 10.1 | 13.3% | 0.00 |
| SPP Polymer | 18 | - | 111 | -4.2 | -2.4% | 0.28 |
| Srivasavi Adhesive Tapes | 125 | 22.4 | 110 | 5.6 | 8.4% | 0.41 |
| Anubhav Plast | 54 | 7.7 | 109 | 7 | 13.0% | - |
| Median of the 10 others | 139 | 26.4 | 119 | 6.3 | 10.7% | 0.28 |
Ameenji Rubber shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Ameenji Rubber shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Mar 26 | |
|---|---|---|
| Promoters | 67.71% | 67.71% |
| Foreign investors (FIIs) | 2.37% | - |
| Indian institutions (DIIs) | 10.22% | - |
| Number of shareholders | 520 | 560 |
Ameenji Rubber study: the business from its own documents
Read from 5 of the company's own documentsAmeenji Rubber so far
From the company's own record
- 6 Oct 2026An order announced
- 31 March 2026Promoters at 67.71%
- 7 Oct 2026Highest close since listing, ₹290.00
Ameenji Rubber key facts from the filings
Each figure with the document it comes from
- Sales
- ₹123.2 cr
- FY26 revenue from operations, up about 31% on the year, all of the rise from domestic sales.Annual report FY26, p.27 and p.57
- Exports
- ₹2.2 cr
- FY26 export sales, down from ₹10.3 cr a year earlier; the company says exports carry higher margins.Annual report FY26, p.57 and p.58
- Order book
- ₹61.8 cr
- Orders in hand at 31 August 2025, of which 89% was for Indian Railways and allied entities.Offer document, p.115
- Rail pad capacity use
- 61.23%
- Share of yearly rail pad capacity used in FY25, so volume can rise without new presses.Offer document, p.115
- Expansion joint capacity use
- 88.79%
- Share of expansion joint capacity used in FY25, the one product line close to full.Offer document, p.115
Show 5 more facts
- Top ten customers
- 50.11%
- Share of FY25 sales from the ten largest buyers, down from 64.63% two years earlier.Offer document, p.116 and p.117
- Largest supplier
- 43.54%
- Share of FY25 purchases from one supplier.Offer document, p.117
- Operating margin
- 15.65%
- FY26 operating profit margin, down from 20.20% as exports fell and material costs rose.Annual report FY26, p.59
- Debt to equity
- 1.00 times
- At March 2026, down from 2.10 times a year earlier after the issue money came in.Annual report FY26, p.59
- Issue money unused
- ₹5.0 cr
- Left at March 2026 out of ₹30.0 cr raised, mostly for the conveyor belt and press machinery.Annual report FY26, p.31
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company last stated an order book of ₹61.8 cr at 31 August 2025, mostly for Indian Railways, and has not given a later figure. On the November 2025 call the operations head said the company expects to grow about 20% to 25% a year and keep its operating margin between 20% and 25%, that conveyor belt sales should start in the next financial year once the machinery is installed, and that 18 rubber tank wheels had been supplied for field trials, after which an order of about 180 could follow. The company also says it has trial orders for rail pads under new railway specifications and is in talks to lift exports to Iraq and the Middle East.
| What management said | When | What happened |
|---|---|---|
| Growth of about 20% to 25% a year | November 2025 call | FY26 sales rose about 31% |
| Operating margin kept between 20% and 25% | November 2025 call | FY26 operating margin 15.65% |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns its money by moulding rubber into approved parts for railways and bridges, sold mainly through government tenders and to road contractors.
Its weak spots are tender pricing against many rivals, a lot of money tied up in stock, and profit that leans on exports which have dropped away.
AverageCan it set its own prices?Prices are set by tenders with plenty of competition, but government contracts let part of a sharp rise in rubber prices be recovered.
AverageHow strong is it against rivals?Vendor approvals and an in-house accredited lab keep many makers out, but twenty or more approved suppliers still bid for rail pads.
AverageWho are its customers?Indian Railways and bridge and road contractors; no single buyer dominates, but the railways make up most of the orders in hand.
WatchDoes it need a lot of money?Yes: bulk rubber buying, slow railway payments and new machinery tie up a lot of money, and debt still equals equity after the issue.
AverageCan it keep finding new work?Railway and highway spending keeps tenders coming and there is spare capacity, but the order book covers only about half a year and new products are still on trial.
WatchDo good and bad years swing a lot?Profit can move against sales: in FY26 sales rose sharply but profit fell when export orders dried up, and the two halves of the year differ a lot.
Who runs Ameenji Rubber?
Promoters, directors and officers; tap a name for the background
MNMufaddal Najmuddin DeesawalaPromoter, Chairman and Managing Director
On the board since the company was formed in 2006, with about 18 years in making and trading rubber products; manages the overall business. The offer document says the educational records could not be traced.
Offer document, p.136 and p.138SMSakina Mufaddal DeesawalaPromoter and Whole-Time Director
With the company since 2008 and about 15 years in rubber products; oversees general operations, administration and human resources. The offer document records Sakina Mufaddal Deesawala as the spouse of Mufaddal Najmuddin Deesawala.
Offer document, p.136, p.138 and p.139FMFatema Mufaddal DeesawalaPromoter and Executive Director
Bachelor of Arts (Liberal Arts) in political science and public policy from Symbiosis International (2024); on the board since 2020 with about 4 years in market research and business strategy; manages daily operations, administration and sales. Recorded as a daughter of the two promoters above.
Offer document, p.138 and p.139ZMZahra Mufaddal DeesawalaPromoter and Non-Executive Director
On the board since 2023; completed Class XII (ISC) in 2021 and is a competitive skeet shooter. Recorded as a daughter of Mufaddal Najmuddin Deesawala and Sakina Mufaddal Deesawala.
Offer document, p.137, p.138 and p.139JKJayasudha KapoorIndependent Director
Film actor with over five decades in Telugu and Hindi films and 15 years in politics, including as a member of the Andhra Pradesh assembly; honorary Doctor of Letters (2009).
Offer document, p.137 and p.138AMAsfia MoinIndependent Director
Law graduate from Osmania University (2014) and member of the Institute of Company Secretaries of India, with about 8 years in secretarial and legal work.
Offer document, p.137 and p.138MSMustafa Saifuddin LokhandwalaVice President, Legal, and Chief of Operations and Exports
BSc from the University of Mumbai (2016) and LLB from Savitribai Phule Pune University (2019); runs exports, operations and legal matters. The offer document records Mustafa Saifuddin Lokhandwala as the son-in-law of the Managing Director.
Offer document, p.147 and p.148; Annual report FY26, p.22KMKaushik MehtaChief Financial Officer
Appointed from 29 August 2026 after Tejaswini Kandra resigned as Chief Financial Officer from 28 July 2026.
Annual report FY26, p.22SCSrinivasan ChakravarthiCompany Secretary and Compliance Officer
Company secretary since 1981 with about 40 years in finance, accounts, legal and secretarial work; joined in November 2024.
Offer document, p.147Ameenji Rubber latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 March 2026: promoters unchanged at 67.71%.
- 6 Oct 2026: an order announced.
Ameenji Rubber announcements
3 on record, latest first; each opens the filing on the exchange
- Company UpdateDisclosure under Regulation 30 of SEBI (LODR) Regulations 2015 with respect to Purchase OrderPDF ↗
- AGM/EGMfiling of Voting results and consolidated Scrutinizers Report pursuant to the Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) RegulationPDF ↗
- AGM/EGMIntimation of Outcome of the 20th Annual General Meeting of Ameenji Rubber Limited on Wednesday, 30th September, 2026 at 04:00 P.M (IST) through VC / other AudPDF ↗
Ameenji Rubber annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 Nov 2025 ↗read
- 30 Nov 2025 ↗read
Ameenji Rubber share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Ameenji Rubber's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,12,80,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY23 (₹15.22) and FY24 (₹5.50) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Ameenji Rubber
What does Ameenji Rubber do?
Ameenji Rubber makes rubber parts for railways and bridges: pads that sit under railway tracks, the rubber tubes that join train coaches, bridge bearings and expansion joints. It is based near Hyderabad and its shares trade on BSE SME.
What is the share price of Ameenji Rubber?
₹246 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Ameenji Rubber?
₹277 cr at the close on 6 Nov 2026, on 1,12,80,000 shares.
What is the P/E of Ameenji Rubber?
43.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Ameenji Rubber's revenue and profit?
Revenue ₹123 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Ameenji Rubber?
Mufaddal Najmuddin Deesawala, Sakina Mufaddal Deesawala, Fatema Mufaddal Deesawala, Zahra Mufaddal Deesawala; promoters held 67.71% at 31 March 2026.
What is Ameenji Rubber's website?
www.ameenji.com
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Built from 2 annual reports, 1 offer document, 1 earnings call transcript, 1 investor presentation, 3 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.