Income Statement Dolfin Rubbers Limited

Stocks

DOLFIN

INE666Y01010

Tires & Rubber Products

Market Closed - Bombay S.E. 08:02:21 17/08/26 pm AEST			5-day change	1st Jan Change
164.00 ^INR	-4.62%		-0.36%	-9.02%

11/08	Dolfin Rubbers Limited Reports Earnings Results for the First Quarter Ended June 30, 2026	CI
27/05	Dolfin Rubbers Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2026	CI

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Published financial data: DOLFIN RUBBERS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	825M	835M	1.02B	1.26B	1.44B
Total Revenues	825M	835M	1.02B	1.26B	1.44B
Cost of Goods Sold, Total	530M	520M	650M	810M	920M
Gross Profit	295M	315M	367M	449M	515M
Selling General & Admin Expenses, Total	100M	122M	138M	168M	196M
Depreciation & Amortization - (IS)	8.31M	11.49M	12.97M	15.12M	17.26M
Other Operating Expenses	147M	137M	163M	194M	225M
Other Operating Expenses, Total	255M	271M	314M	377M	438M
Operating Income	39.99M	43.5M	52.8M	72.11M	76.95M
Interest Expense, Total	-899K	-7.25M	-8.56M	-9.87M	-9.07M
Interest And Investment Income	326K	347K	342K	693K	873K
Net Interest Expenses	-574K	-6.9M	-8.22M	-9.17M	-8.2M
Currency Exchange Gains (Loss)	-	518K	-59K	1.56M	28K
Other Non Operating Income (Expenses)	702K	1.11M	802K	1.72M	2.96M
EBT, Excl. Unusual Items	40.12M	38.22M	45.32M	66.22M	71.74M
Gain (Loss) On Sale Of Assets	128K	-54K	-187K	22K	-
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	40.24M	38.17M	45.14M	66.24M	71.74M
Income Tax Expense	11.86M	10.49M	12M	18.78M	20.49M
Earnings From Continuing Operations	28.38M	27.68M	33.14M	47.46M	51.25M
Net Income to Company	28.38M	27.68M	33.14M	47.46M	51.25M
Net Income - (IS)	28.38M	27.68M	33.14M	47.46M	51.25M
Net Income to Common Incl Extra Items	28.38M	27.68M	33.14M	47.46M	51.25M
Net Income to Common Excl. Extra Items	28.38M	27.68M	33.14M	47.46M	51.25M
Per Share Items
Net EPS - Basic	2.83	2.76	3.52	4.73	5.11
Basic EPS - Continuing Operations	2.83	2.76	3.52	4.73	5.11
Basic Weighted Average Shares Outstanding	10.04M	10.03M	9.4M	10.03M	10.03M
Net EPS - Diluted	2.83	2.76	3.52	4.73	5.11
Diluted EPS - Continuing Operations	2.83	2.76	3.52	4.73	5.11
Diluted Weighted Average Shares Outstanding	10.04M	10.03M	9.4M	10.03M	10.03M
Normalized Basic EPS	2.5	2.38	3.01	4.13	4.47
Normalized Diluted EPS	2.5	2.38	3.01	4.13	4.47
Dividend Per Share	0.9	-	1.2	-	-
Payout Ratio	26.51	32.61	-	25.36	-
Supplemental Items
EBITDA	48.3M	54.99M	65.74M	87.2M	94.17M
EBITA	40.06M	43.61M	52.98M	72.3M	77.08M
EBIT	39.99M	43.5M	52.8M	72.11M	76.95M
EBITDAR	-	-	-	90.3M	95.28M
Total Revenues (As Reported)	826M	837M	1.02B	1.26B	1.26B
Effective Tax Rate - (Ratio)	29.48	27.48	26.58	28.34	28.56
Total Current Taxes	8.31M	6.15M	10.34M	13.14M	18.24M
Total Deferred Taxes	3.17M	3.99M	1.65M	5.64M	1.71M
Normalized Net Income	25.07M	23.89M	28.33M	41.38M	44.84M
Interest Capitalized	822K	723K	56K	10K	254K
Interest on Long-Term Debt	1.47M	-	-	-	2.63M
Non-Cash Pension Expense	195K	563K	264K	599K	646K
Supplemental Operating Expense Items
Advertising Expense	11.6M	6.35M	2.76M	6.31M	4.05M
Selling and Marketing Expenses	11.6M	6.35M	2.76M	6.31M	4.05M
Net Rental Expense, Total	-	-	-	3.1M	1.1M
Imputed Operating Lease Interest Expense	-	-	-	1.77M	506K
Imputed Operating Lease Depreciation	-	-	-	1.33M	597K
Maintenance & Repair Expenses, Total	-	4.15M	12.61M	11.29M	15.77M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.49M	2.69M	1.24M	941K	797K
Short Term Investments	-	-	6.86M	7.33M	7.8M
Total Cash And Short Term Investments	2.49M	2.69M	8.1M	8.27M	8.6M
Accounts Receivable, Total	123M	117M	150M	154M	176M
Other Receivables	-	491K	194K	778K	1.08M
Notes Receivable	12.1M	-	-	-	-
Total Receivables	135M	117M	151M	155M	177M
Inventory	76.16M	130M	164M	198M	254M
Prepaid Expenses	3.04M	1.24M	937K	1.06M	733K
Other Current Assets, Total	1.2M	7.87M	21.01M	7.26M	11.28M
Total Current Assets	218M	259M	345M	369M	452M
Gross Property Plant And Equipment	225M	259M	296M	339M	367M
Accumulated Depreciation	-49.1M	-60.36M	-72.92M	-87.82M	-103M
Net Property Plant And Equipment	176M	198M	223M	251M	264M
Other Intangibles, Total	67.09K	123K	308K	126K	0
Accounts Receivable Long-Term	-	4.46M	1.91M	1.38M	1.38M
Deferred Charges Long-Term	-	-	132K	99K	99K
Other Long-Term Assets, Total	9.53M	5.63M	8.05M	6.33M	16.44M
Total Assets	403M	467M	579M	628M	734M
Liabilities
Accounts Payable, Total	30.21M	31.06M	68.07M	46.85M	31.43M
Accrued Expenses, Total	15.3M	3.84M	6.92M	16.27M	34.01M
Short-term Borrowings	78.19M	81.24M	98.6M	108M	156M
Current Portion of Long-Term Debt	6.06M	6.06M	10.54M	12.2M	9.77M
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	-	2.5M	2.5M	2.5M	4M
Other Current Liabilities	11.88M	3.23M	12.64M	17.24M	19.71M
Total Current Liabilities	142M	128M	199M	203M	255M
Long-Term Debt	26.85M	16.53M	21.58M	26.28M	13.15M
Unearned Revenue Non Current	25.52M	1K	88.65M	89.35M	102M
Pension & Other Post Retirement Benefits	2.44M	3.24M	6.23M	5.98M	7.42M
Deferred Tax Liability Non Current	9.62M	13.61M	15.26M	20.9M	22.6M
Other Non Current Liabilities	-	90.51M	1.04M	-1K	-
Total Liabilities	206M	252M	332M	346M	400M
Common Stock, Total	75.22M	75.22M	100M	100M	100M
Additional Paid In Capital	33.19M	33.19M	33.19M	33.19M	33.19M
Retained Earnings	87.54M	106M	115M	151M	202M
Comprehensive Income and Other	980K	980K	-1.91M	-1.31M	-1.43M
Total Common Equity	197M	216M	247M	283M	334M
Total Equity	197M	216M	247M	283M	334M
Total Liabilities And Equity	403M	467M	579M	628M	734M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	10.03M	10.03M	10.03M	10.03M	10.03M
ECS Total Common Shares Outstanding	10.03M	10.03M	10.03M	10.03M	10.03M
Book Value / Share	19.64	21.5	24.6	28.19	33.29
Tangible Book Value	197M	215M	246M	283M	334M
Tangible Book Value Per Share	19.63	21.48	24.57	28.18	33.29
Total Debt	111M	104M	131M	146M	179M
Net Debt	109M	101M	123M	138M	170M
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.78M	3.65M	7.98M	8.91M	11.07M
Debt Equivalent Oper. Leases	-	-	-	24.81M	8.82M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	55.96M	81.03M	93.35M	117M	155M
Inventories - Work In Process, Total	1.38M	4.52M	5.91M	9.7M	47.34M
Inventories - Finished Goods, Total	13.01M	30.16M	53.33M	50.07M	34.25M
Inventories - Others	5.8M	13.89M	11.77M	21.33M	17.47M
Land - (BS)	21.41M	21.41M	23.23M	27.9M	37.41M
Buildings, Total	32.56M	32.56M	32.56M	32.56M	33.61M
Machinery, Total	171M	193M	219M	279M	294M
Full Time Employees	403	539	579	616	780

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	28.38M	27.68M	33.14M	47.46M	51.25M
Depreciation & Amortization - CF	8.24M	11.38M	12.76M	14.91M	17.1M
Amortization of Goodwill and Intangible Assets - (CF)	75.84K	109K	182K	182K	126K
Depreciation & Amortization, Total	8.31M	11.49M	12.94M	15.09M	17.22M
Amortization of Deferred Charges, Total - (CF)	-	-	33K	33K	33K
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Other Operating Activities, Total	4.01M	10.75M	7.64M	12.14M	6.95M
Change In Accounts Receivable	-8.37M	5.77M	-33.46M	-3.28M	-22.51M
Change In Inventories	-44.53M	-53.44M	-34.77M	-33.48M	-56.19M
Change In Accounts Payable	-	-	-	-	-
Change in Other Net Operating Assets	44.01M	9.45M	33.63M	16.77M	47.93M
Cash from Operations	31.81M	11.7M	19.15M	54.72M	44.69M
Capital Expenditure	-38.21M	-34.19M	-38.16M	-43.01M	-30.22M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-2.54M	3.5M	-1.26M	1.72M	-9.18M
Other Investing Activities, Total	377K	-3.2M	2.01M	5.24M	3.16M
Cash from Investing	-40.37M	-33.89M	-37.41M	-36.06M	-36.23M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	18.13M	-	32.5M	4.11M	1.33M
Total Debt Issued	18.13M	-	32.5M	4.11M	1.33M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-33.58M	-	-	-
Total Debt Repaid	-	-33.58M	-	-	-
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-7.52M	-9.03M	-	-12.04M	-
Common & Preferred Stock Dividends Paid	-7.52M	-9.03M	-	-12.04M	-
Other Financing Activities, Total	-1.22M	-7.62M	-8.84M	-10.57M	-9.46M
Cash from Financing	9.38M	-50.23M	23.67M	-18.49M	-8.13M
Miscellaneous Cash Flow Adjustments	-	-	-1K	-	-
Net Change in Cash	813K	-72.42M	5.4M	176K	330K
Supplemental Items
Cash Interest Paid	899K	7.25M	8.56M	9.87M	9.07M
Cash Income Tax Paid (Refund)	8.7M	6.5M	9.54M	13.37M	18.73M
Levered Free Cash Flow	-65.89M	-41.32M	-53.98M	-19.99M	-46.93M
Unlevered Free Cash Flow	-65.32M	-36.79M	-48.63M	-13.83M	-41.26M
Change In Net Working Capital	60.42M	41.28M	56.44M	31.01M	76.4M
Net Debt Issued / Repaid	18.13M	-33.58M	32.5M	4.11M	1.33M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.03	6.25	6.31	7.47	7.06
Return on Total Capital	9.47	8.67	9.47	11.17	10.21
Return On Equity %	15.22	13.42	14.33	17.93	16.62
Return on Common Equity	15.22	13.42	14.33	17.93	16.62
Margin Analysis
Gross Profit Margin %	35.77	37.69	36.1	35.67	35.89
SG&A Margin	12.14	14.65	13.58	13.32	13.67
EBITDA Margin %	5.85	6.59	6.47	6.92	6.56
EBITA Margin %	4.86	5.22	5.21	5.74	5.37
EBIT Margin %	4.85	5.21	5.19	5.73	5.36
Income From Continuing Operations Margin %	3.44	3.31	3.26	3.77	3.57
Net Income Margin %	3.44	3.31	3.26	3.77	3.57
Net Avail. For Common Margin %	3.44	3.31	3.26	3.77	3.57
Normalized Net Income Margin	3.04	2.86	2.79	3.29	3.12
Levered Free Cash Flow Margin	-7.99	-4.95	-5.31	-1.59	-3.27
Unlevered Free Cash Flow Margin	-7.92	-4.41	-4.78	-1.1	-2.87
Asset Turnover
Asset Turnover	2.32	1.92	1.94	2.09	2.11
Fixed Assets Turnover	5.13	4.47	4.82	5.31	5.57
Receivables Turnover (Average Receivables)	6.96	6.97	7.6	8.28	8.7
Inventory Turnover (Average Inventory)	9.83	5.06	4.42	4.47	4.07
Short Term Liquidity
Current Ratio	1.54	2.02	1.73	1.82	1.77
Quick Ratio	0.88	0.94	0.8	0.8	0.73
Operating Cash Flow to Current Liabilities	0.22	0.09	0.1	0.27	0.18
Days Sales Outstanding (Average Receivables)	52.46	52.4	48.02	44.2	41.94
Days Outstanding Inventory (Average Inventory)	37.12	72.17	82.6	81.82	89.59
Average Days Payable Outstanding	20.55	19.49	29.17	24.93	14.63
Cash Conversion Cycle (Average Days)	69.04	105.08	101.45	101.09	116.91
Long Term Solvency
Total Debt/Equity	56.41	48.16	52.98	51.79	53.59
Total Debt / Total Capital	36.07	32.51	34.63	34.12	34.89
LT Debt/Equity	13.63	7.67	8.75	9.3	3.94
Long-Term Debt / Total Capital	8.72	5.18	5.72	6.12	2.56
Total Liabilities / Total Assets	51.13	53.87	57.37	54.99	54.53
EBIT / Interest Expense	44.46	6	6.17	7.31	8.48
EBITDA / Interest Expense	53.7	7.58	7.68	8.84	10.38
(EBITDA - Capex) / Interest Expense	11.22	2.87	3.22	4.48	7.05
Total Debt / EBITDA	2.3	1.89	1.99	1.68	1.9
Net Debt / EBITDA	2.25	1.84	1.87	1.58	1.81
Total Debt / (EBITDA - Capex)	11.01	4.99	4.74	3.31	2.8
Net Debt / (EBITDA - Capex)	10.77	4.86	4.45	3.13	2.66
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.53	1.22	21.73	23.9	14.01
Gross Profit, 1 Yr. Growth %	6.57	8.88	16.6	22.42	14.72
EBITDA, 1 Yr. Growth %	16.72	13.85	18.77	33.41	7.99
EBITA, 1 Yr. Growth %	17.22	9.06	20.79	37.9	6.88
EBIT, 1 Yr. Growth %	16.99	8.79	20.37	37.55	6.71
Earnings From Cont. Operations, 1 Yr. Growth %	10.7	-2.46	18.17	43.23	7.98
Net Income, 1 Yr. Growth %	10.7	-2.46	18.17	43.23	7.98
Normalized Net Income, 1 Yr. Growth %	15.06	-4.72	17.47	47.31	8.34
Diluted EPS Before Extra, 1 Yr. Growth %	10.56	-2.39	26.04	34.22	8.02
Accounts Receivable, 1 Yr. Growth %	7.32	-4.7	28.6	2.18	14.64
Inventory, 1 Yr. Growth %	140.82	70.17	26.83	20.37	28.4
Net Property, Plant and Equip., 1 Yr. Growth %	20.57	12.89	12.61	12.57	5.21
Total Assets, 1 Yr. Growth %	30.89	15.98	23.8	8.56	16.89
Tangible Book Value, 1 Yr. Growth %	11.89	9.45	14.31	14.69	18.13
Common Equity, 1 Yr. Growth %	11.84	9.47	14.39	14.6	18.08
Cash From Operations, 1 Yr. Growth %	36.32	-23.95	-6.82	185.74	-18.33
Capital Expenditures, 1 Yr. Growth %	-12.09	-10.54	11.62	12.72	-29.75
Levered Free Cash Flow, 1 Yr. Growth %	60.6	-49.8	239.21	-63.12	134.73
Unlevered Free Cash Flow, 1 Yr. Growth %	61.14	-55	327.29	-71.7	198.42
Dividend Per Share, 1 Yr. Growth %	20	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.49	4.33	11	22.81	18.85
Gross Profit, 2 Yr. CAGR %	10.33	6.6	12.67	19.47	18.51
EBITDA, 2 Yr. CAGR %	18.07	15.28	16.66	25.52	20.03
EBITA, 2 Yr. CAGR %	18.79	12.96	15.11	28.38	21.25
EBIT, 2 Yr. CAGR %	18.67	12.82	14.91	28.22	21.15
Earnings From Cont. Operations, 2 Yr. CAGR %	23.29	3.91	8.06	30.1	24.36
Net Income, 2 Yr. CAGR %	23.29	3.91	8.06	30.1	24.36
Normalized Net Income, 2 Yr. CAGR %	16.98	4.71	6.29	31	26.33
Diluted EPS Before Extra, 2 Yr. CAGR %	23.29	3.88	11.64	30.07	20.41
Accounts Receivable, 2 Yr. CAGR %	14.71	1.13	10.7	14.63	8.23
Inventory, 2 Yr. CAGR %	58.15	102.44	46.91	23.56	24.32
Net Property, Plant and Equip., 2 Yr. CAGR %	26.74	16.67	12.75	12.59	8.83
Total Assets, 2 Yr. CAGR %	26.71	23.21	19.84	15.93	12.64
Tangible Book Value, 2 Yr. CAGR %	14.47	10.66	11.88	14.5	16.4
Common Equity, 2 Yr. CAGR %	14.41	10.65	11.93	14.5	16.33
Cash From Operations, 2 Yr. CAGR %	17.87	-29.2	11.59	63.17	52.76
Capital Expenditures, 2 Yr. CAGR %	22.21	-11.32	-0.07	12.17	-11.02
Levered Free Cash Flow, 2 Yr. CAGR %	32.94	0.36	-19.02	12.09	-6.96
Unlevered Free Cash Flow, 2 Yr. CAGR %	33.22	-4.73	-22.88	10.23	-8.1
Dividend Per Share, 2 Yr. CAGR %	-	-	15.47	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	15.27	6.01	9.83	15.14	19.8
Gross Profit, 3 Yr. CAGR %	21.79	9.09	9.83	15.83	17.87
EBITDA, 3 Yr. CAGR %	23.94	16.64	16.68	21.77	19.38
EBITA, 3 Yr. CAGR %	26.77	15.38	15.73	21.82	20.67
EBIT, 3 Yr. CAGR %	26.69	15.28	15.6	21.72	20.61
Earnings From Cont. Operations, 3 Yr. CAGR %	29.26	14.03	8.93	18.7	22.26
Net Income, 3 Yr. CAGR %	29.26	14.03	8.93	18.7	22.26
Normalized Net Income, 3 Yr. CAGR %	29.39	9.25	9.14	18.18	22.96
Diluted EPS Before Extra, 3 Yr. CAGR %	16.57	14.06	11.28	18.71	22.26
Accounts Receivable, 3 Yr. CAGR %	15.48	7.84	9.56	7.79	14.63
Inventory, 3 Yr. CAGR %	70.43	62.06	73.22	37.47	25.15
Net Property, Plant and Equip., 3 Yr. CAGR %	24.92	21.95	15.3	12.69	10.07
Total Assets, 3 Yr. CAGR %	26.7	23.02	23.41	15.95	16.24
Tangible Book Value, 3 Yr. CAGR %	35.21	12.77	11.88	12.81	15.7
Common Equity, 3 Yr. CAGR %	35.15	12.74	11.9	12.81	15.68
Cash From Operations, 3 Yr. CAGR %	14.83	-20.06	-6.37	52.67	29.56
Capital Expenditures, 3 Yr. CAGR %	37.45	10.14	-4.25	4.02	-4.03
Levered Free Cash Flow, 3 Yr. CAGR %	136.59	3.49	9.58	-37.61	43.41
Unlevered Free Cash Flow, 3 Yr. CAGR %	158.67	-0.02	6.25	-44.7	53.63
Dividend Per Share, 3 Yr. CAGR %	-	-	16.96	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	15.1	14.19	13.54	12.43	13.36
Gross Profit, 5 Yr. CAGR %	17.03	19.17	17.57	13.13	13.23
EBITDA, 5 Yr. CAGR %	25.45	23.86	20.97	20.27	17.88
EBITA, 5 Yr. CAGR %	30.08	28.02	21.92	20.55	17.66
EBIT, 5 Yr. CAGR %	30.03	27.95	21.84	20.49	17.62
Earnings From Cont. Operations, 5 Yr. CAGR %	39.98	31.81	20.32	20.52	14.86
Net Income, 5 Yr. CAGR %	39.98	31.81	20.32	20.52	14.86
Normalized Net Income, 5 Yr. CAGR %	30.15	26.45	19.6	17.7	15.52
Diluted EPS Before Extra, 5 Yr. CAGR %	31.57	23.91	14.57	20.52	14.85
Accounts Receivable, 5 Yr. CAGR %	25.25	22.16	13.55	10.5	9.03
Inventory, 5 Yr. CAGR %	119.87	51.96	60.6	45.4	51.7
Net Property, Plant and Equip., 5 Yr. CAGR %	28.62	21.53	19.9	18.11	12.66
Total Assets, 5 Yr. CAGR %	26.14	23.14	23.91	20.14	18.99
Tangible Book Value, 5 Yr. CAGR %	29.22	28.5	25.34	13.47	13.67
Common Equity, 5 Yr. CAGR %	29.2	28.45	25.33	13.45	13.65
Cash From Operations, 5 Yr. CAGR %	-2.34	71.82	-1.83	19.04	13.88
Capital Expenditures, 5 Yr. CAGR %	27.63	1.87	21	10.95	-7.02
Levered Free Cash Flow, 5 Yr. CAGR %	20.37	2.53	61.09	-11.72	2.73
Unlevered Free Cash Flow, 5 Yr. CAGR %	19.64	0.73	66.73	-17.79	0.35