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Eastern Treads BSE:531346 Stock Report

Last Price


Market Cap







01 Oct, 2022


Company Financials
531346 fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance0/6
Financial Health4/6

531346 Stock Overview

Eastern Treads Limited, together with its subsidiaries, engages in the manufacturing and dealing of tread rubber, rubber based adhesives, tire retreading accessories, and retreading services under the Eastern Treads brand in India.

Eastern Treads Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Eastern Treads
Historical stock prices
Current Share Price₹38.75
52 Week High₹58.95
52 Week Low₹25.70
1 Month Change6.31%
3 Month Change25.00%
1 Year Change-15.58%
3 Year Change30.03%
5 Year Change-60.90%
Change since IPO176.79%

Recent News & Updates

Shareholder Returns

531346IN Auto ComponentsIN Market

Return vs Industry: 531346 underperformed the Indian Auto Components industry which returned -1.4% over the past year.

Return vs Market: 531346 underperformed the Indian Market which returned -0.6% over the past year.

Price Volatility

Is 531346's price volatile compared to industry and market?
531346 volatility
531346 Average Weekly Movement8.5%
Auto Components Industry Average Movement5.7%
Market Average Movement5.9%
10% most volatile stocks in IN Market9.2%
10% least volatile stocks in IN Market3.8%

Stable Share Price: 531346 is more volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 531346's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of Indian stocks.

About the Company

1993174Sachin Saxena

Eastern Treads Limited, together with its subsidiaries, engages in the manufacturing and dealing of tread rubber, rubber based adhesives, tire retreading accessories, and retreading services under the Eastern Treads brand in India. It offers pre-cured and conventional tread rubber; hot rubber slabs and camel back treads; cushion/bonding gums; black vulcanizing cement; and repair patches. Eastern Treads Limited was incorporated in 1993 and is based in Kochi, India.

Eastern Treads Fundamentals Summary

How do Eastern Treads's earnings and revenue compare to its market cap?
531346 fundamental statistics
Market Cap₹202.74m
Earnings (TTM)-₹93.01m
Revenue (TTM)₹722.75m


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
531346 income statement (TTM)
Cost of Revenue₹528.83m
Gross Profit₹193.93m
Other Expenses₹286.93m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)-17.78
Gross Margin26.83%
Net Profit Margin-12.87%
Debt/Equity Ratio6,758.9%

How did 531346 perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is 531346 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 531346?

Other financial metrics that can be useful for relative valuation.

531346 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.7x
Enterprise Value/EBITDA-10.1x
PEG Ration/a

Price to Sales Ratio vs Peers

How does 531346's PS Ratio compare to its peers?

531346 PS Ratio vs Peers
The above table shows the PS ratio for 531346 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average6.2x
523550 Krypton Industries
542932 Birla Tyres
INNOVATIVE Innovative Tyres & Tubes
542013 Dolfin Rubbers
531346 Eastern Treads

Price-To-Sales vs Peers: 531346 is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (6.2x).

Price to Earnings Ratio vs Industry

How does 531346's PE Ratio compare vs other companies in the IN Auto Components Industry?

Price-To-Sales vs Industry: 531346 is good value based on its Price-To-Sales Ratio (0.3x) compared to the Indian Auto Components industry average (1x)

Price to Sales Ratio vs Fair Ratio

What is 531346's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

531346 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 531346's Price-To-Sales Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 531346 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 531346 (₹38.75) is trading above our estimate of fair value (₹0.44)

Significantly Below Fair Value: 531346 is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Eastern Treads forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Automobiles industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Eastern Treads has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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  • Examine Eastern Treads's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • Eastern Treads competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Eastern Treads performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 531346 is currently unprofitable.

Growing Profit Margin: 531346 is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: 531346 is unprofitable, and losses have increased over the past 5 years at a rate of 35.2% per year.

Accelerating Growth: Unable to compare 531346's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 531346 is unprofitable, making it difficult to compare its past year earnings growth to the Auto Components industry (15.1%).

Return on Equity

High ROE: 531346 has a negative Return on Equity (-2001.1%), as it is currently unprofitable.

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Financial Health

How is Eastern Treads's financial position?

Financial Health Score


Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: 531346's short term assets (₹305.6M) exceed its short term liabilities (₹272.4M).

Long Term Liabilities: 531346's short term assets (₹305.6M) exceed its long term liabilities (₹193.2M).

Debt to Equity History and Analysis

Debt Level: 531346's net debt to equity ratio (6592.6%) is considered high.

Reducing Debt: 531346's debt to equity ratio has increased from 168.3% to 6758.9% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable 531346 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: 531346 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 19.2% per year.

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What is Eastern Treads's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Eastern Treads Dividend Yield vs Market
How does Eastern Treads dividend yield compare to the market?
SegmentDividend Yield
Company (Eastern Treads)0%
Market Bottom 25% (IN)0.4%
Market Top 25% (IN)1.6%
Industry Average (Auto Components)0.6%
Analyst forecast in 3 Years (Eastern Treads)n/a

Notable Dividend: Unable to evaluate 531346's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 531346's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 531346's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 531346's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: 531346 is not paying a notable dividend for the Indian market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 531346 has not reported any payouts.

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How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


Sachin Saxena





Mr. Sachin Saxena has been Chief Executive Officer at Eastern Treads Limited since June 23, 2021.

CEO Compensation Analysis

Sachin Saxena's Compensation vs Eastern Treads Earnings
How has Sachin Saxena's remuneration changed compared to Eastern Treads's earnings?
DateTotal Comp.SalaryCompany Earnings
Mar 31 2022₹6m₹6m


Compensation vs Market: Sachin's total compensation ($USD78.62K) is above average for companies of similar size in the Indian market ($USD40.43K).

Compensation vs Earnings: Insufficient data to compare Sachin's compensation with company performance.

Board Members

Experienced Board: 531346's board of directors are considered experienced (5.7 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of 531346?
Owner TypeNumber of SharesOwnership Percentage
State or Government615,00011.8%
General Public1,179,91222.6%
Individual Insiders3,337,08863.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 15 shareholders own 77.45% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Firoz Meeran
1,350,550₹52.3m0%no data
Navas Meeran
1,322,250₹51.2m0%no data
Kerala State Industrial Development Corporation, Ltd.
615,000₹23.8m0%no data
Biju Job
157,780₹6.1m0%no data
Ashish Shah
146,127₹5.7m30.42%no data
Equity Intelligence India Pvt. Ltd.
Suman Chepuri
90,307₹3.5m28.24%no data
Manishkumar Mehta
61,363₹2.4m0%no data
Thomas Muthoot
60,811₹2.4m0%no data
Niza Zakir
48,700₹1.9m0%no data
Soymol Sajith
40,000₹1.6m0%no data
Nabeesa Meeran
34,000₹1.3m0%no data
M. Mohamed
23,500₹910.6k0%no data
Shameena Mohamed
1,000₹38.8k0%no data
Riya Mohamed
700₹27.1k0%no data

Company Information

Eastern Treads Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Eastern Treads Limited
  • Ticker: 531346
  • Exchange: BSE
  • Founded: 1993
  • Industry: Tires and Rubber
  • Sector: Automobiles
  • Implied Market Cap: ₹202.740m
  • Shares outstanding: 5.23m
  • Website:

Number of Employees


  • Eastern Treads Limited
  • 3A, Eastern Corporate Office
  • 3rd Floor
  • Kochi
  • Kerala
  • 682024
  • India


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
531346BSE (Mumbai Stock Exchange)YesEquity SharesININRMay 2009

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/30 00:00
Annual Earnings2022/03/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.