Pentagon RubberShare price, financial results, shareholding and management

NSE Emerge · PENTAGONConveyor beltsListed 7 July 2023
pentagonrubber.com ↗Live price on NSE ↗ISIN INE0ORS01017 · Lot 1,000 shares · ₹73,350
₹73.35
-5.00% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹57 cr
Stock P/E
30.7peers 16.9
Book value
₹43.8
Price to book
1.67
EV / operating profit
16.6
Market cap to sales
1.11
Returns and growth
ROCE · FY26
7.4%
ROE · FY26
5.6%
ROE, 3-year average
12.6%
Operating margin · FY26
9.5%peers 16.9%
Sales growth, 3 years
5.6%
Profit growth, 3 years
-16.0%
Safety
Debt to equity
0.92peers 0.85
Borrowings
₹31.2 cr
Interest cover
3.4×
Cash from business / op. profit
-75%
Debtor days
175
Pledged
0.00%
Ownership and share
Promoter holding
70.04%
Change in promoter holding
0.00 pts
Shareholders
822
52-week high / low
₹101 / ₹49
Dividend yield
0.00%
Face value
₹771

Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.

Pentagon Rubber share price chart

₹73.35-22.79% 1 year

Close on 6 Nov 2026 · -4.99% on the day · Vol 1,000

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
-14.6%
3 months
+44.7%
6 months
+12.8%
1 year
-22.8%
Traded a day, 20 days
₹0.04 cr
Taken for delivery
94%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+3%-31%
3 years, a year+6%-16%
Latest half, H2 FY26-4%-31%

About Pentagon Rubber: business, products and customers

Pentagon Rubber makes rubber conveyor belts, the long belts that carry coal, ore, cement and grain through mines and plants, at a factory near Chandigarh, and sells them in India and abroad. Its shares trade on NSE Emerge.

The company was set up in 2004 and makes conveyor belts of many grades from a single plant at Dera Bassi in Punjab: general purpose, abrasion, heat, fire and oil resistant belts, elevator belts, pipe and chevron belts, and rubber sheets. The plant has one of the longest belt presses in India, pressing 21 metres in a single stroke, and a laboratory that tests belts to Indian and foreign standards. Its main inputs are natural and synthetic rubber, rubber chemicals and fabric, bought from large manufacturers and partly imported against export licences.

Belts are sold four ways: to government companies through tenders as an approved vendor, directly to large private groups, through dealers who serve the replacement market near mines and plants, and as exports to over 25 countries. Because mines and power and cement plants order in large lots, a few customers make up most of each year's sales, and the company carries a lot of stock and gives long credit, so a large share of the money in the business sits in inventory and receivables. Rubber prices feed straight into costs, and the offer document lists rubber chemicals as a separate line that made up about a third of sales in the nine months to December 2022.

Read more about the business

The offer document compares the company with Somi Conveyor Beltings and International Conveyors, two listed makers of conveyor belts, and describes the rubber belting industry as unorganised and highly fragmented, with competition on quality, reliability and price.

From the offer document (Red Herring Prospectus, 2023) and the audited results for FY26 filed on 20 May 2026.

Read the deeper study ↓

In its favour

  • The promoters own a large part of the company: 70.04%.

To watch

  • Collection of trade receivables, which rose to ₹24.3 cr at March 2026 (Audited results FY26, 20 May 2026, p.14).
  • Renewal of the five year terms of the Managing Director and Whole-time Directors that began in January 2023 (Offer document, p.140).
  • The level of short term borrowings, which rose to ₹19.2 cr at March 2026 (Audited results FY26, 20 May 2026, p.14).
  • It paid no dividend in the past year.
  • The business used more cash than it brought in last year: ₹3.6 cr went out in FY26.

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.

Pentagon Rubber revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown slowly. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.

Sales and net profit, every year, ₹ crore
SalesNet profit
0204060Sales, FY20: 19.3 ₹ cr19.3Net profit, FY20: 0.9 ₹ cr0.9FY20Sales, FY21: 23 ₹ cr23Net profit, FY21: 1.1 ₹ cr1.1FY21Sales, FY22: 34.7 ₹ cr34.7Net profit, FY22: 3 ₹ cr3FY22Sales, FY23: 43.2 ₹ cr43.2Net profit, FY23: 3.1 ₹ cr3.1FY23Sales, FY24: 57.7 ₹ cr57.7Net profit, FY24: 4.4 ₹ cr4.4FY24Sales, FY25: 49.3 ₹ cr49.3Net profit, FY25: 2.7 ₹ cr2.7FY25Sales, FY26: 50.9 ₹ cr50.9Net profit, FY26: 1.8 ₹ cr1.8FY26
The latest halves, ₹ crore
SalesNet profit
0102030Sales, H1FY23: 21 ₹ cr21Net profit, H1FY23: 1.4 ₹ cr1.4H1FY23Sales, H2FY23: 22.1 ₹ cr22.1Net profit, H2FY23: 1.8 ₹ cr1.8H2FY23Sales, H1FY24: 28.7 ₹ cr28.7Net profit, H1FY24: 2.5 ₹ cr2.5H1FY24Sales, H2FY24: 29.1 ₹ cr29.1Net profit, H2FY24: 2 ₹ cr2H2FY24Sales, H1FY25: 24.3 ₹ cr24.3Net profit, H1FY25: 0.9 ₹ cr0.9H1FY25Sales, H2FY25: 25 ₹ cr25Net profit, H2FY25: 1.8 ₹ cr1.8H2FY25Sales, H1FY26: 26.7 ₹ cr26.7Net profit, H1FY26: 0.6 ₹ cr0.6H1FY26Sales, H2FY26: 24.1 ₹ cr24.1Net profit, H2FY26: 1.2 ₹ cr1.2H2FY26

SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.

Pentagon Rubber half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H1FY23H2FY23H1FY24H2FY24H1FY25H2FY25H1FY26H2FY26
Sales21.0422.1428.7229.0524.3025.0226.7424.11
Expenses18.5219.0824.9625.8722.6422.7924.7621.25
Operating profit2.523.063.763.181.662.231.982.86
OPM12.0%13.8%13.1%10.9%6.8%8.9%7.4%11.8%
Interest0.340.460.370.410.380.580.540.80
Depreciation0.140.140.120.120.180.240.250.64
Profit before tax2.062.493.402.771.281.831.491.68
Net profit1.351.752.461.990.931.760.631.21

Pentagon Rubber profit and loss

Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Sales19.3322.9634.7443.1857.6749.3250.85
Expenses17.2620.6130.5837.5950.7345.4246.01
Operating profit2.072.354.165.596.943.904.84
OPM10.7%10.2%12.0%12.9%12.0%7.9%9.5%
Other income0.060.030.090.040.250.600.56
Interest0.670.750.740.810.780.961.34
Depreciation0.470.550.490.280.230.420.89
Profit before tax0.991.083.024.546.183.113.17
Tax rate5.1%-1.9%1.7%31.7%28.2%13.8%42.0%
Net profit0.941.102.973.104.442.681.84
EPS ₹2.352.757.425.745.763.482.38
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

A tax rate above 60% or below zero (FY21) comes from tax charged on a small or negative profit, as reported.

Pentagon Rubber profitability

Margins and returns on capital

Last year the company kept about as much from each rupee of sales as the year before. It earns a low return on the money it uses.

Operating margin, every year

Per cent of sales kept before interest, depreciation and tax

0%5%10%15%FY20: 10.7%10.7%FY20FY21: 10.2%10.2%FY21FY22: 12.0%12.0%FY22FY23: 12.9%12.9%FY23FY24: 12.0%12.0%FY24FY25: 7.9%7.9%FY25FY26: 9.5%9.5%FY26
Per cent
FY20FY21FY22FY23FY24FY25FY26
Operating margin10.7%10.2%12.0%12.9%12.0%7.9%9.5%
Tax rate5.1%-1.9%1.7%31.7%28.2%13.8%42.0%
ROCE·11.2%17.9%22.1%17.6%7.4%7.4%
ROE·57.7%75.5%44.1%23.4%8.8%5.6%
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Pentagon Rubber debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business used more cash than it brought in. 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 FY24, which ties up more of the company's money in unpaid bills.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
010203040Net worth, FY20: 1.4 ₹ cr1.4Borrowings, FY20: 12.5 ₹ cr12.5FY20Net worth, FY21: 2.5 ₹ cr2.5Borrowings, FY21: 16.5 ₹ cr16.5FY21Net worth, FY22: 5.4 ₹ cr5.4Borrowings, FY22: 17.6 ₹ cr17.6FY22Net worth, FY23: 8.6 ₹ cr8.6Borrowings, FY23: 16.8 ₹ cr16.8FY23Net worth, FY24: 29.3 ₹ cr29.3Borrowings, FY24: 24.3 ₹ cr24.3FY24Net worth, FY25: 32 ₹ cr32Borrowings, FY25: 25 ₹ cr25FY25Net worth, FY26: 33.8 ₹ cr33.8Borrowings, FY26: 31.2 ₹ cr31.2FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-15-10-50510Cash from the business, FY20: 1.6 ₹ cr1.6Net profit, FY20: 0.9 ₹ cr0.9FY20Cash from the business, FY21: -3 ₹ cr-3Net profit, FY21: 1.1 ₹ cr1.1FY21Cash from the business, FY22: -0.2 ₹ cr-0.2Net profit, FY22: 3 ₹ cr3FY22Cash from the business, FY23: 1.9 ₹ cr1.9Net profit, FY23: 3.1 ₹ cr3.1FY23Cash from the business, FY24: -12.4 ₹ cr-12.4Net profit, FY24: 4.4 ₹ cr4.4FY24Cash from the business, FY25: 5.8 ₹ cr5.8Net profit, FY25: 2.7 ₹ cr2.7FY25Cash from the business, FY26: -3.6 ₹ cr-3.6Net profit, FY26: 1.8 ₹ cr1.8FY26

Bars below the line are cash going out.

Pentagon Rubber balance sheet

At each 31 March · ₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Equity capital4445.407.717.717.71
Reserves-2.65-1.541.413.2421.5424.2426.05
Net worth1.352.465.418.6429.2531.9533.76
Borrowings12.4516.5017.5816.7524.3425.0231.20
Other liabilities7.536.934.937.062.762.453.68
Total liabilities21.3325.8927.9232.4556.3559.4268.64
Fixed assets2.842.562.082.011.8910.9811.15
Capital work in progress000008.080
Investments0000000
Other assets18.4923.3325.8430.4454.4640.3657.49
Receivables·····15.6224.34
Inventory·····20.6923.08
Cash·····7.307.44
Trade payables·····1.362.21

Pentagon Rubber cash flow

₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Cash from operations1.58-2.96-0.161.93-12.415.81-3.62
Cash from investing-0.72-0.37-0.01-0.20-0.12-9.51-1.07
Cash from financing-0.843.300.45-1.6422.98-0.284.83
Net cash flow0.02-0.030.280.0910.45-3.980.14
Capital spending·····9.541.07

Working capital

Days

Days
FY20FY21FY22FY23FY24FY25FY26
Debtor days14816999114132116175
Inventory days185199163160145216236
Days payable14396364291423
Cash conversion cycle190272226231268318389
Working capital days124130121104188191185

Pentagon Rubber peers and competitors

Listed SME companies in the same industry

By sales, Pentagon Rubber is number 126 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.

CompanyMarket cap ₹ crP/ESales ₹ crProfit ₹ crOp. marginDebt/equity
Anand Seamless8214.9565.518.3%1.44
Maks Energy Solutions India1014.954.10.75.5%1.02
Jiwanram Sheoduttrai Industries109.653.91-0.9%0.68
Rappid Valves (India)17126.453.26.519.4%0.35
Manas Polymers and Energies556.4538.524.1%0.54
Kalana Ispat2626.651.812.2%0.05
KVS Castings13419.051.47.121.6%0.38
Diksha Polymers9723.651.34.114.6%1.77
Pentagon Rubber5730.750.91.89.5%0.92
Advance Technoforge5012.3504.115.5%1.26
Horizon Reclaim (India)29029.0491032.0%1.44
Median of the 10 others691752.44.816.9%0.85

Pentagon Rubber shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.

Promoters
70.04%
0.00 pts since Jul 23
Foreign investors (FIIs)
2.18%
-7.92 pts since Jul 23
Indian institutions (DIIs)
0.00%
at Mar 25; not in the latest pattern
HNIs (over ₹2 lakh each)
5.45%
+5.45 pts since Jul 23
Small holders (up to ₹2 lakh)
16.69%
+2.73 pts since Jul 23
Companies and others
5.64%
+3.83 pts since Jul 23
Number of shareholders
822
537 in Jul 23

Pentagon 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.

Jul 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26
Promoters70.04%70.04%70.04%70.04%70.04%70.04%70.04%
Foreign investors (FIIs)10.10%7.78%7.68%7.22%5.06%2.18%2.18%
Indian institutions (DIIs)4.09%0.00%0.00%0.00%0.00%--
HNIs (over ₹2 lakh each)0.00%0.60%0.88%0.96%1.02%3.70%5.45%
Small holders (up to ₹2 lakh)13.96%13.64%15.88%17.74%20.31%19.82%16.69%
Companies and others1.81%7.94%5.52%4.04%3.57%4.26%5.64%
Number of shareholders5374497709209751,020822

The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.

Pentagon Rubber study: the business from its own documents

Read from 2 of the company's own documents

Pentagon Rubber so far

From the company's own record

  1. 7 July 2023Listed on NSE Emerge
  2. 4 Sept 2026An order announced
  3. 31 March 2026Promoters at 70.04%
  4. 5 Feb 2024Highest close since listing, ₹120.95

Pentagon Rubber key facts from the filings

Each figure with the document it comes from

Installed capacity
2,40,000 metres
Yearly capacity for belts and sheets; 59% was used in FY22 and 50% in FY21.Offer document, p.121
Belt press
21 metres a stroke
One of the longest conveyor belt presses in India, able to make belts up to 3150 kN/m strength.Offer document, p.113 and p.116
Top ten customers
91.42%
Share of revenue in the nine months to December 2022, up from 57.52% in FY20; the top five gave 77.23%.Offer document, p.120
Top ten suppliers
66.23%
Share of purchases in the nine months to December 2022, down from 86.74% in FY20.Offer document, p.31
Rubber chemicals
34.84%
Share of revenue from rubber chemicals in the nine months to December 2022, against 65.07% from belting.Offer document, p.120
Show 5 more facts
Exports
2.32%
Export share of revenue in the nine months to December 2022, down from 8.88% in FY20, though the company sells in over 25 countries.Offer document, p.121 to 122
Money owed by customers
₹24.3 cr
Trade receivables at March 2026, up from ₹15.6 cr a year earlier, against FY26 revenue of ₹50.9 cr.Audited results FY26, 20 May 2026, p.14
Stock held
₹23.1 cr
Inventories at March 2026, up from ₹20.7 cr a year earlier.Audited results FY26, 20 May 2026, p.14
Short term borrowings
₹19.2 cr
At March 2026, up from ₹11.1 cr a year earlier, with long term loans of ₹12.0 cr.Audited results FY26, 20 May 2026, p.14
Cash from operations
Minus ₹3.6 cr
Net cash used in operating activities in FY26, after ₹5.8 cr generated in FY25.Audited results FY26, 20 May 2026, p.15

What the company said, and what happened

The company's own statements, attributed, set against what it later reported; not newboard's estimates

At the time of the share sale, the company said the issue money would go mainly to working capital and that turnover would rise by 55% to 60% as it was used, from FY23 to FY24. The company has not stated an order book or newer guidance in the documents read.

What management saidWhenWhat happened
Turnover to rise by 55% to 60% from FY23 to FY24 as the issue money is usedOffer document, 2023, p.87Revenue rose to ₹57.7 cr in FY24 from ₹43.2 cr, about 34%, then fell to ₹49.3 cr in FY25

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.

Pentagon Rubber earns by turning rubber, chemicals and fabric into heavy duty conveyor belts for mines and plants, from one factory with spare capacity.

Its weak spots are a few large customers in each year, rubber prices it does not control, and a lot of cash tied up in stock and money owed.

WatchCan it set its own prices?Much of the work is won through tenders and from a few large buyers in a fragmented industry where price is a main point of competition.
The evidence. The offer document names government tenders and direct supply to large groups as main channels and lists price among the principal competitive factors; operating margin was about a tenth of sales in FY26.Offer document, p.120 to 123; audited results FY26, 20 May 2026
AverageHow strong is it against rivals?Approved vendor status and a long belt press help it bid for large jobs, but many local and big makers compete for the same work.
The evidence. Registered with Maharatna, Navratna and Miniratna companies; the offer document lists increased competition from local and big players as a threat.Offer document, p.116 and p.119 to 120
WatchWho are its customers?Mines, power, cement, steel and fertiliser plants, with a handful of them making up most of the year's sales.
The evidence. Top ten customers gave 91.42% of revenue in the nine months to December 2022 and the top five 77.23%.Offer document, p.31 and p.120
WatchDoes it need a lot of money?The company itself calls the business working capital intensive, and stock and receivables together are close to a year of sales.
The evidence. Inventories of ₹23.1 cr and receivables of ₹24.3 cr at March 2026 against FY26 revenue of ₹50.9 cr; the issue money was meant mainly for working capital.Audited results FY26, 20 May 2026, p.14; offer document, p.87 and p.116
AverageCan it keep finding new work?It sells to government companies, private groups, dealers and export buyers, and the plant has room to make more.
The evidence. Capacity use was 59% in FY22; exports reach over 25 countries, though they were 2.32% of revenue in the nine months to December 2022.Offer document, p.121 to 122
AverageDo good and bad years swing a lot?Demand follows spending in mining, power and cement, and sales have fallen back in one year after rising in others.
The evidence. Revenue was ₹57.7 cr in FY24, ₹49.3 cr in FY25 and ₹50.9 cr in FY26.Audited results FY26, 20 May 2026; offer document, p.120

Who runs Pentagon Rubber?

Promoters, directors and officers; tap a name for the background

AJAshish JainPromoter, Chairman and Managing Director · holds 11.68%

Holds a bachelor's degree in chemical engineering from Bangalore University and an MBA; 23 years in the rubber industry at the time of the offer document. On the board since the company was formed in April 2004 and Chairman and Managing Director from January 2023 for five years; leads strategy, expansion and overall management.

Offer document, p.137 and p.139; audited results FY26, 20 May 2026
AJAnil JainPromoter and Whole-time Director · holds 9.74%

Holds a B.Com and has 37 years of experience in marketing and sales. On the board since April 2004 and Whole-time Director from January 2023 for five years.

Offer document, p.137 and p.139
SJSaurabh JainPromoter and Whole-time Director · holds 20.54%

Holds a BBA and has 19 years of experience in production and procurement. On the board since April 2004 and Whole-time Director from January 2023 for five years.

Offer document, p.137 to 139
LJLalit JainPromoter and Non-Executive Director · holds 22.14%

Holds a diploma of associateship in polymer science and technology (rubber) and has 27 years of experience in production and marketing. On the board since April 2004 and Non-Executive Director from January 2023. The offer document states that none of the directors are related to each other.

Offer document, p.138 to 140
MVManish VermaIndependent Director

Holds a bachelor's degree in mechanical engineering and has 24 years of experience in banking, automobiles and entrepreneurship. Appointed in January 2023 for five years.

Offer document, p.138 to 139
PKPreet Kamal Kaur BhatiaIndependent Director

A Chartered Accountant with 17 years of practice at the time of the offer document. Appointed in January 2023 for five years.

Offer document, p.138 to 139

Pentagon Rubber latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • H2 FY26: sales ₹24.1 cr (-4%), net profit ₹1.2 cr (-31%) on H2 FY25.
  • Shareholding, 31 March 2026: promoters unchanged at 70.04%.
  • 4 Sept 2026: an order announced.

Pentagon Rubber annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

Pentagon 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 Pentagon Rubber's data · 9

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 (77,10,000 shares).
  • !The FY26 results imply 1,00,000 shares at face value ₹771, which disagrees with the shareholding pattern; the pattern is used.
  • ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
  • ✓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 moves in line with profit across the years shown.
  • ✓Revenue and profit are reported for every year shown, FY20 to FY26.
  • iPrices run to the close on 12 Oct 2026, from the exchange's daily figures.

Questions people ask about Pentagon Rubber

What does Pentagon Rubber do?

Pentagon Rubber makes rubber conveyor belts, the long belts that carry coal, ore, cement and grain through mines and plants, at a factory near Chandigarh, and sells them in India and abroad. Its shares trade on NSE Emerge.

What is the share price of Pentagon Rubber?

₹73.4 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of Pentagon Rubber?

₹57 cr at the close on 6 Nov 2026, on 77,10,000 shares.

What is the P/E of Pentagon Rubber?

30.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are Pentagon Rubber's revenue and profit?

Revenue ₹51 cr and profit after tax ₹2 cr in FY26.

Who are the promoters of Pentagon Rubber?

Ashish Jain, Anil Jain, Saurabh Jain, Lalit Jain; promoters held 70.04% at 31 March 2026.

What is Pentagon Rubber's website?

www.pentagonrubber.com

More SME companies like Pentagon Rubber

Other listed SME companies in industrial products, the closest in size first, each read from its own documents.

Every listed SME company in Industrial Products → · SME companies listed in 2023 →

Built from 1 offer document, 1 result filing, 45 exchange announcements, 7 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.