Lead Reclaim And Rubber Products Limited (LRRPL)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Lead Reclaim's revenue was ₹17.9 Cr (-18.2% year on year, -18.2% on the previous half-year), and net profit ₹3.1 Cr (+219.6% year on year); the operating margin was 31.8%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹17.9 | -18.2% | -18.2% |
| Operating profit | ₹5.7 | +146.8% | +102.1% |
| Net profit | ₹3.1 | +219.6% | +213.1% |
| EPS (₹) | 3.59 | +220.5% | +212.2% |
| Operating margin | 31.8% | — | — |
LRRPL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the LRRPL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 98.63%. That is close to its usual level. Turnover was only ₹5 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal. It closed at its upper price band (circuit) on 16 Oct, one of 11 band closes in about the last 20 sessions.
Delivery in the last 5 sessions: 100.0% · 100.0% · 100.0% · 100.0% · 100.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Lead Reclaim And Rubber Products Limited has incorporated a wholly owned subsidiary, REGENOVA GLOBAL FZ-LLC, in the United Arab Emirates as of October 14, 2026. The new entity operates under the Ras Al Khaimah Economic Zone Authority to engage in rubber trading, as well as tyres and rims trading. The share capital acquisition is in cash at AED 1,000 per share, with 100% ownership held by the company. With TTM revenue standing at Rs 71 Cr, the overseas entity represents an initial step to establish international trading operations.
- Incorporated 100% wholly owned subsidiary REGENOVA GLOBAL FZ-LLC in the UAE on October 14, 2026
- Line of business focuses on rubber trading and tyres & rims trading
- Acquisition consideration paid in cash at AED 1,000 per share
- Target entity is newly formed with current size/turnover reported as Nil
Lead Reclaim And Rubber Products Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent Bigshare Services Pvt. Ltd., confirms that no dematerialization or rematerialization requests were received during the quarter. This filing is a standard quarterly administrative requirement with no financial or operational impact.
- Compliance certificate filed for the quarter ended September 30, 2026
- Issued by RTA Bigshare Services Pvt. Ltd. dated October 7, 2026
- Confirmed zero (0) Demat and Remat requests received during the entire quarter
Lead Reclaim And Rubber Products Limited (LRRPL) submitted its FY2025–26 Annual Report adopted by shareholders at its Annual General Meeting. For FY26, revenue from operations grew 27.96% to ₹39.82 crore, while EBITDA surged 151.33% to ₹8.52 crore with margins expanding 1,051 bps to 21.40%. Profit after tax increased 180.14% to ₹4.09 crore compared to ₹1.46 crore in FY25. The company highlighted completing a ₹35.58 crore preferential issue, expanding manufacturing capacity to 4,200 MT per month, and finishing construction of its EPDM recycling facility.
- Revenue from operations grew 27.96% YoY to ₹39.82 crore in FY26 from ₹31.12 crore in FY25
- EBITDA increased 151.33% to ₹8.52 crore, with EBITDA margins expanding by 1,051 bps to 21.40%
- Net profit (PAT) surged 180.14% YoY to ₹4.09 crore compared to ₹1.46 crore in FY25
- Successfully raised ₹35.58 crore via a preferential issue and expanded capacity to 4,200 MT per month
- Construction of the EPDM recycling facility completed, with commercial production targeted for FY26–27
Lead Reclaim And Rubber Products Limited has announced the closure of its trading window effective October 01, 2026. The restriction applies to designated persons, including directors and promoters, and their immediate relatives pursuant to SEBI insider trading regulations. The window will remain closed until 48 hours after the declaration of the Unaudited Financial Results for the half year ending September 30, 2026. This is a mandatory and standard compliance procedure ahead of periodic earnings releases.
- Trading window closes on October 01, 2026
- Closure covers the half year ending September 30, 2026 results
- Trading reopens 48 hours after the declaration of unaudited financial results
- Restriction applies to all designated persons, directors, promoters, and their relatives
Lead Reclaim and Rubber Products Limited announced that its 14th Annual General Meeting (AGM) will be held on September 30, 2026. Key agenda items include adopting the audited standalone and consolidated financial statements for FY25-26 and the re-appointment of retiring director Mr. Baldevbhai Patel. The company also proposes appointing Mr. Jainish Rajeshbhai Parikh and Mr. Priteshkumar Patil as Independent Directors for a 5-year term ending August 10, 2031. No dividend or fresh capital deployment was announced in the notice.
- 14th AGM scheduled for Wednesday, September 30, 2026 at 11:00 a.m. IST
- Appointment of two Independent Directors (Jainish R. Parikh and Priteshkumar Patil) for a 5-year term until August 10, 2031
- Adoption of Audited Standalone and Consolidated Financial Statements for FY25-26
- Re-appointment of director Mr. Baldevbhai Patel retiring by rotation
Lead Reclaim And Rubber Products Limited convened a Board meeting on September 07, 2026, to approve the convening of its Annual General Meeting (AGM). The AGM has been scheduled for Wednesday, September 30, 2026. The 30-minute meeting commenced at 6:00 P.M. and concluded at 6:30 P.M. No other commercial, operational, or financial decisions were disclosed in this outcome.
- Board meeting conducted on September 07, 2026, from 6:00 P.M. to 6:30 P.M.
- Annual General Meeting approved to be held on Wednesday, September 30, 2026
- Filing made under Regulation 30 of SEBI LODR Regulations
Lead Reclaim And Rubber Products Limited has scheduled an analyst/investor meeting on Friday, August 21, 2026. The interaction will take place virtually with Sincere Syndication and Corporate Services LLP. The company confirmed that discussions will rely strictly on publicly available information with no unpublished price sensitive information (UPSI) shared.
- Analyst/investor meeting scheduled for Friday, August 21, 2026
- Meeting to be held virtually with Sincere Syndication and Corporate Services LLP
- Company confirmed discussions will refer only to publicly available documents with no UPSI
Lead Reclaim And Rubber Products Limited (LRRPL) has scheduled a virtual meeting with institutional investors and family offices on August 18, 2026. Participants include Incor Infrastructure Family Office, NG Wealth Family Office, and Arth Invest Mart Broker. The company, which has a market cap of Rs 72 Cr and TTM revenue of Rs 71 Cr, will discuss publicly available information. This engagement follows a strong March 2026 quarter where net profit reached Rs 3.1 Cr compared to Rs 0.97 Cr in the previous year.
- Virtual meeting scheduled for Tuesday, August 18, 2026
- Participation from 3 specific entities: Incor Infrastructure, NG Wealth, and Arth Invest Mart
- Company reported a 138% revenue jump in recent periods, reaching TTM revenue of Rs 71 Cr
- March 2026 quarterly EPS stood at Rs 3.59, up from Rs 1.12 in March 2025
- Promoter holding remains stable at 59.48% as of March 2026
Lead Reclaim And Rubber Products Limited (LRRPL) has approved the incorporation of a wholly-owned subsidiary in Dubai, marking its first major international expansion step. The board also appointed two new Independent Directors, Mr. Jainish Rajeshbhai Parikh and Mr. Priteshkumar Patil, for 5-year terms effective August 11, 2026. These moves come as the company, with a market cap of ₹73 Cr, manages a TTM revenue of ₹71 Cr and seeks to professionalize its board. The expansion aligns with the company's stated strategy of aggressive growth and shifting into trading activities.
- Approved the incorporation of a Wholly Owned Subsidiary (WOS) in Dubai on August 10, 2026
- Appointed 2 Additional Independent Directors for a fixed tenure of 5 years each
- New director Mr. Priteshkumar Patil brings experience in delivering strategic programs exceeding ₹1,000 crore in value
- Company maintains a high ROCE of 21.3% on a net worth of ₹24 Cr
- TTM revenue of ₹71 Cr is nearly equal to its current market capitalization of ₹73 Cr
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable segment: manufacturing of Reclaim Rubber Products. Total revenue from operations reached INR 21.90 Cr in H1 FY26, representing a significant growth of 138.04% YoY compared to INR 9.20 Cr in H1 FY25.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Gujarat with manufacturing facilities in Kheda district.
Profitability Margins
Net Profit Margin for H1 FY26 stood at 4.52% (INR 0.99 Cr profit on INR 21.90 Cr revenue), a slight decrease from 5.33% in H1 FY25. Profit Before Tax (PBT) margin was 6.53% in H1 FY26 compared to 7.17% in H1 FY25, impacted by rising interest and depreciation costs.
EBITDA Margin
EBITDA margin (excluding other income) was 12.88% in H1 FY26, a decline of 223 basis points from 15.11% in H1 FY25. While absolute EBITDA grew 102.88% to INR 2.82 Cr, the margin compression indicates that operating expenses grew faster (144.30%) than revenue.
Capital Expenditure
The company is in an expansion phase, with INR 5.51 Cr spent on the purchase of fixed assets during H1 FY26. Capital Work in Progress (CWIP) stood at INR 4.20 Cr as of September 30, 2025, compared to just INR 0.01 Cr in the previous year.
Credit Rating & Borrowing
CRISIL suspended the company's 'CRISIL B/Stable' rating in November 2016 due to non-cooperation and lack of information. Interest costs rose 70.97% YoY to INR 0.53 Cr in H1 FY26, driven by an increase in short-term borrowings to INR 5.93 Cr.
Operational Drivers
Raw Materials
Scrap rubber and rubber waste are the primary raw materials, with 'Cost of Material Consumed' accounting for INR 5.56 Cr or 25.39% of total revenue in H1 FY26.
Capacity Expansion
Current capacity is not specified in MT, but the company is actively expanding as evidenced by the INR 12.43 Cr in fixed assets and INR 4.20 Cr in CWIP as of H1 FY26.
Raw Material Costs
Raw material costs were INR 5.56 Cr in H1 FY26, up from INR 2.47 Cr in H1 FY25. Procurement of stock-in-trade also increased significantly to INR 10.62 Cr, suggesting a shift toward trading or outsourced processing to meet high demand.
Manufacturing Efficiency
Depreciation and amortization expenses increased by 91.67% to INR 0.92 Cr in H1 FY26, reflecting higher utilization of new machinery and expanded production facilities.
Strategic Growth
Expected Growth Rate
138.04%
Growth Strategy
Growth is being driven by aggressive capacity expansion and a shift into trading/stock-in-trade activities. The company invested INR 5.51 Cr in fixed assets in H1 FY26 to scale its reclaim rubber manufacturing. It is also leveraging its associate, Regrip Lead Recycling Private Limited, to potentially expand its recycling ecosystem.
Products & Services
Reclaim rubber of various grades and recycled rubber products manufactured from scrap rubber.
Brand Portfolio
LEAD Reclaim & Rubber Products.
Market Expansion
The company is scaling operations in the Kheda/Gujarat region with significant new investments in fixed assets (INR 5.51 Cr) to capture higher market share in the recycling segment.
Strategic Alliances
The company has an associate entity, Regrip Lead Recycling Private Limited, though its financial contribution to the group's profit was NIL for H1 FY26.
External Factors
Industry Trends
The reclaim rubber industry is growing due to the global shift toward circular economies and the cost advantage of recycled rubber over synthetic/natural rubber. LRRPL is positioning itself as a scrap rubber recycling specialist to benefit from these sustainability trends.
Competitive Landscape
The company competes with other reclaim rubber manufacturers and auto component suppliers in the Gujarat industrial belt.
Competitive Moat
The company's moat lies in its specialized recycling infrastructure and established promoter experience (Patel and Chauhan families). However, the moat is weakened by 'Information Availability Risk' which led to a credit rating suspension.
Macro Economic Sensitivity
Highly sensitive to the automotive industry cycle and environmental regulations regarding rubber waste disposal.
Consumer Behavior
Increasing preference for 'green' and recycled components by tire manufacturers and industrial rubber users is driving demand for LRRPL's products.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013 and SEBI (LODR) Regulations 2015. The company follows Accounting Standards (AS) rather than Ind-AS.
Environmental Compliance
As a scrap rubber recycling unit, the company must comply with Gujarat Pollution Control Board norms and waste management regulations.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 30.7% (INR 0.44 Cr tax on INR 1.43 Cr PBT).
Risk Analysis
Key Uncertainties
Information availability risk is the primary concern, as highlighted by CRISIL's inability to maintain a rating. This could lead to 10-15% higher financing costs or restricted access to capital.
Geographic Concentration Risk
High concentration in Gujarat, with the main manufacturing unit located in Village Pithai, Kheda.
Third Party Dependencies
Increasing reliance on 'Purchases of stock in trade' (INR 10.62 Cr in H1 FY26) indicates a dependency on external suppliers for finished or semi-finished goods.
Technology Obsolescence Risk
The company must continuously upgrade its recycling technology to maintain the quality of reclaim rubber grades required by modern tire manufacturers.
Credit & Counterparty Risk
Trade receivables increased to INR 6.81 Cr in September 2025 from INR 5.37 Cr in March 2025, representing 31% of H1 revenue, indicating potential working capital pressure.
