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Last Updated: April 2, 2026, 4:31 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531346 | NSE: EASTRED

Eastern Treads Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹47.37Undervalued by 69.18%vs CMP ₹28.00

P/E (15.0) × ROE (15.0%) × BV (₹25.80) × DY (2.00%)

Defaults: P/E=15, ROE=15%

₹74.48Undervalued by 166.00%vs CMP ₹28.00
MoS: +62.4% (Strong)Confidence: 69/100 (Moderate)Models: All 2: Undervalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹84.5163%Under (+201.8%)
Revenue MultipleRevenue₹57.7638%Under (+106.3%)
Consensus (2 models)₹74.48100%Undervalued
Key Drivers: EPS CAGR 78.4% lifts DCF — verify sustainability.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 78.4% · Defaults: P/E=15, ROE=15%

*Investments are subject to market risks

Investment Snapshot

47
Eastern Treads Ltd scores 47/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health18/100 · Weak
ROCE 6.3% WeakROE 0.0% WeakD/E 2.43 High debtInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent
Smart Money50/100 · Moderate
Promoter holding at 65.5% Stable
Earnings Quality75/100 · Strong
OPM expanding (-6% → 0%) ImprovingWorking capital: -113 days (improving) Efficient
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +9% YoY Growing
Industry Rank40/100 · Moderate
ROCE 6.3% vs industry 8.2% Average3Y sales CAGR: -6% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Eastern Treads Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 30.7 | ROCE 6.3% | ROE 0.0% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 2.43x | IntCov 0.0x | Current 1.03x | Borrow/Reserve N/A
Cash Flow Reliability
100/100
Strong
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹-3 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom 0.00 pp
Business Momentum
+13
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +0.3% | Q NP +128.3% | Q OPM +3.1 pp
Derived FieldValueHow it is derived
Valuation Gap %+166.0%((Fair Value - CMP) / CMP) × 100
Borrowings / ReservesN/ALatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+5Latest shareholder count minus previous count
Quarterly Sales Change+0.3%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+128.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+3.1 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:31 am

Market Cap 14.6 Cr.
Current Price 28.0
Intrinsic Value₹74.48
High / Low 39.0/25.0
Stock P/E
Book Value 25.8
Dividend Yield0.00 %
ROCE6.31 %
ROE%
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Eastern Treads Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Indag Rubber Ltd 246 Cr. 93.6 153/84.628.6 87.82.56 %2.93 %2.86 % 2.00
Eastern Treads Ltd 14.6 Cr. 28.0 39.0/25.0 25.80.00 %6.31 %% 10.0
Dolfin Rubbers Ltd 171 Cr. 170 224/16131.3 35.70.00 %17.1 %16.5 % 10.0
Vikas Ecotech Ltd 200 Cr. 1.13 2.78/0.9562.3 2.220.00 %2.75 %1.37 % 1.00
Modi Rubber Ltd 287 Cr. 115 168/87.218.3 2760.00 %3.28 %2.89 % 10.0
Industry Average528.25 Cr317.7330.71111.340.58%8.24%9.09%6.22

All Competitor Stocks of Eastern Treads Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 15.3614.3614.5315.4414.7914.7714.2014.2416.0615.7316.6516.1316.18
Expenses 15.7815.0114.6215.2814.1614.6414.7914.9215.7815.6116.1415.9015.45
Operating Profit -0.42-0.65-0.090.160.630.13-0.59-0.680.280.120.510.230.73
OPM % -2.73%-4.53%-0.62%1.04%4.26%0.88%-4.15%-4.78%1.74%0.76%3.06%1.43%4.51%
Other Income 0.030.020.010.030.160.040.010.070.040.270.130.090.09
Interest 1.000.840.800.790.640.750.620.570.610.670.590.670.50
Depreciation 0.400.420.380.330.280.230.220.220.200.190.190.180.18
Profit before tax -1.79-1.89-1.26-0.93-0.13-0.81-1.42-1.40-0.49-0.47-0.14-0.530.14
Tax % -2.79%-14.81%-1.59%-2.15%-15.38%-13.58%-2.11%-32.86%-4.08%-51.06%0.00%0.00%0.00%
Net Profit -1.74-1.61-1.23-0.90-0.11-0.71-1.40-0.94-0.47-0.23-0.14-0.530.15
EPS in Rs -3.33-3.08-2.35-1.72-0.21-1.36-2.68-1.80-0.90-0.44-0.27-1.010.29

Last Updated: March 3, 2026, 10:10 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 4:35 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 89.2485.2884.4590.5994.3897.4677.4566.6072.2859.8459.5360.2464.69
Expenses 85.4782.4976.8884.6991.7093.5973.1862.5577.4862.7258.7061.1163.10
Operating Profit 3.772.797.575.902.683.874.274.05-5.20-2.880.83-0.871.59
OPM % 4.22%3.27%8.96%6.51%2.84%3.97%5.51%6.08%-7.19%-4.81%1.39%-1.44%2.46%
Other Income 0.332.110.110.700.220.480.330.490.340.080.240.390.58
Interest 0.831.541.382.973.273.613.233.313.203.232.972.462.43
Depreciation 0.790.951.161.822.112.632.472.121.831.651.220.840.74
Profit before tax 2.482.415.141.81-2.48-1.89-1.10-0.89-9.89-7.68-3.12-3.78-1.00
Tax % 33.87%34.85%33.66%27.07%-7.26%-9.52%2.73%-35.96%-2.12%-5.86%-5.45%-19.84%
Net Profit 1.641.583.411.32-2.29-1.71-1.12-0.57-9.68-7.23-2.95-3.03-0.75
EPS in Rs 2.933.026.522.52-4.38-3.27-2.14-1.09-18.50-13.82-5.64-5.79-1.43
Dividend Payout % 0.00%17.12%15.39%20.49%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-3.66%115.82%-61.29%-273.48%25.33%34.50%49.11%-1598.25%25.31%59.20%-2.71%
Change in YoY Net Profit Growth (%)0.00%119.48%-177.11%-212.19%298.81%9.18%14.60%-1647.35%1623.56%33.89%-61.91%

Eastern Treads Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-3%
5 Years:-5%
3 Years:-6%
TTM:6%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:19%
TTM:43%
Stock Price CAGR
10 Years:-6%
5 Years:-3%
3 Years:-6%
1 Year:-35%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: September 5, 2025, 3:21 pm

Balance Sheet

Last Updated: December 4, 2025, 2:47 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 5.355.415.415.415.415.415.415.415.415.415.415.415.41
Reserves -0.290.973.767.164.492.581.400.85-4.92-12.27-15.07-18.20-18.92
Borrowings 21.8919.3417.2721.3525.8828.4433.5533.1732.7033.6030.9733.3434.65
Other Liabilities 9.0410.2513.3219.5420.1019.2114.1213.6813.8810.8614.0913.1614.54
Total Liabilities 35.9935.9739.7653.4655.8855.6454.4853.1147.0737.6035.4033.7135.68
Fixed Assets 6.508.8211.0815.9615.8916.8714.3312.0016.0314.2913.5112.2712.07
CWIP 0.000.350.260.362.530.180.160.240.170.000.000.160.79
Investments 0.000.000.000.000.000.030.030.030.000.000.000.000.00
Other Assets 29.4926.8028.4237.1437.4638.5639.9640.8430.8723.3121.8921.2822.82
Total Assets 35.9935.9739.7653.4655.8855.6454.4853.1147.0737.6035.4033.7135.68

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -0.815.825.62-0.493.512.00-1.324.461.404.802.900.46
Cash from Investing Activity + -4.23-2.34-3.41-4.12-4.25-1.24-1.31-0.562.62-0.170.26-0.13
Cash from Financing Activity + 7.63-2.80-2.655.241.02-1.031.87-3.65-3.65-4.95-2.90-0.09
Net Cash Flow 2.590.68-0.430.630.28-0.27-0.760.250.36-0.320.250.24
Free Cash Flow -5.043.482.21-4.66-0.760.75-1.214.711.324.592.910.01
CFO/OP -44%239%97%4%144%52%-30%111%-28%-167%349%-53%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-18.12-16.55-9.70-15.45-23.20-24.57-29.28-29.12-37.90-36.48-30.14-34.21

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 60.6240.0650.2796.7499.2799.36121.31140.63100.9579.6674.1371.25
Inventory Days 40.6247.3351.7056.8542.3345.7674.9087.1652.1264.5667.9249.97
Days Payable 38.3242.1555.9771.7776.8967.2163.6475.2952.1954.6389.9076.78
Cash Conversion Cycle 62.9245.2446.0081.8364.7177.91132.56152.49100.8889.5952.1544.44
Working Capital Days 31.0030.0940.7120.51-1.70-3.75-7.9213.328.89-59.04-89.09-113.49
ROCE %14.78%11.01%25.00%15.84%2.27%4.76%5.55%6.07%-18.42%-14.85%-0.62%-6.31%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 65.66%65.66%65.66%65.66%66.25%66.25%66.25%65.78%65.74%65.73%65.48%65.48%
Public 34.34%34.34%34.33%34.33%33.73%33.73%33.74%34.21%34.25%34.26%34.51%34.52%
No. of Shareholders 1,8761,8751,8581,8471,9692,0472,0842,1412,1772,2042,2562,261

Shareholding Pattern Chart

No. of Shareholders

Eastern Treads Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 22Mar 21Mar 20Mar 19Mar 18
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -17.54-1.53-2.57-3.26-4.24
Diluted EPS (Rs.) -17.54-1.53-2.57-3.26-4.24
Cash EPS (Rs.) -14.232.131.801.53-0.34
Book Value[Excl.RevalReserv]/Share (Rs.) 0.899.6811.4514.3718.30
Book Value[Incl.RevalReserv]/Share (Rs.) 0.899.6811.4514.3718.30
Revenue From Operations / Share (Rs.) 133.55137.49144.72180.09174.41
PBDIT / Share (Rs.) -8.937.747.857.875.36
PBIT / Share (Rs.) -12.313.793.232.981.46
PBT / Share (Rs.) -18.23-2.41-2.78-3.70-4.58
Net Profit / Share (Rs.) -17.61-1.81-2.82-3.35-4.24
NP After MI And SOA / Share (Rs.) -16.96-1.48-2.49-3.26-4.24
PBDIT Margin (%) -6.685.635.424.363.07
PBIT Margin (%) -9.212.752.231.650.83
PBT Margin (%) -13.65-1.75-1.92-2.05-2.62
Net Profit Margin (%) -13.18-1.32-1.94-1.86-2.43
NP After MI And SOA Margin (%) -12.69-1.07-1.71-1.81-2.43
Return on Networth / Equity (%) -1896.77-13.86-20.60-22.26-23.16
Return on Capital Employeed (%) -33.6412.9410.358.843.82
Return On Assets (%) -19.50-1.46-2.46-3.16-4.10
Long Term Debt / Equity (X) 32.191.471.251.000.83
Total Debt / Equity (X) 67.595.634.993.492.43
Asset Turnover Ratio (%) 1.421.241.401.750.00
Current Ratio (X) 1.121.041.010.981.03
Quick Ratio (X) 0.840.760.730.750.80
Inventory Turnover Ratio (X) 5.544.065.497.560.00
Dividend Payout Ratio (NP) (%) 0.000.000.000.00-13.73
Dividend Payout Ratio (CP) (%) 0.000.000.000.00-168.26
Earning Retention Ratio (%) 0.000.000.000.00113.73
Cash Earning Retention Ratio (%) 0.000.000.000.00268.26
Interest Coverage Ratio (X) -1.511.251.311.180.88
Interest Coverage Ratio (Post Tax) (X) -2.010.700.530.490.29
Enterprise Value (Cr.) 52.1160.3840.6249.6164.92
EV / Net Operating Revenue (X) 0.720.810.510.500.68
EV / EBITDA (X) -10.7914.419.5611.6522.40
MarketCap / Net Operating Revenue (X) 0.290.400.110.230.45
Retention Ratios (%) 0.000.000.000.00113.73
Price / BV (X) 43.455.171.402.934.29
Price / Net Operating Revenue (X) 0.290.400.110.230.45
EarningsYield -0.43-0.02-0.14-0.07-0.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Eastern Treads Ltd. is a Public Limited Listed company incorporated on 02/07/1993 and has its registered office in the State of Kerala, India. Company's Corporate Identification Number(CIN) is L25119KL1993PLC007213 and registration number is 007213. Currently Company is involved in the business activities of Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres. Company's Total Operating Revenue is Rs. 60.23 Cr. and Equity Capital is Rs. 5.41 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Rubber Processing/Rubber Products3A, 3rd Floor, Eastern Corporate Office, Ernakulam Kerala 682024Contact not found
Management
NamePosition Held
Mr. Navas M MeeranChairman
Mr. M E MohamedManaging Director
Mr. Naiju JosephDirector
Mrs. Shereen NavazDirector
Mrs. Rani JosephDirector
Mr. Natarajan JeyaseelanAdditional Director

FAQ

What is the intrinsic value of Eastern Treads Ltd and is it undervalued?

As of 05 April 2026, Eastern Treads Ltd's intrinsic value is ₹74.48, which is 166.00% higher than the current market price of ₹28.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹25.8), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Eastern Treads Ltd?

Eastern Treads Ltd is trading at ₹28.00 as of 05 April 2026, with a FY2026-2027 high of ₹39.0 and low of ₹25.0. The stock is currently near its 52-week low. Market cap stands at ₹14.6 Cr..

How does Eastern Treads Ltd's P/E ratio compare to its industry?

Eastern Treads Ltd has a P/E ratio of , which is below the industry average of 30.71. This is broadly in line with or below the industry average.

Is Eastern Treads Ltd financially healthy?

Key indicators for Eastern Treads Ltd: ROCE of 6.31 % is on the lower side compared to the industry average of 8.24%; ROE of % is below ideal levels (industry average: 9.09%). Dividend yield is 0.00 %.

Is Eastern Treads Ltd profitable and how is the profit trend?

Eastern Treads Ltd reported a net profit of ₹-3 Cr in Mar 2025 on revenue of ₹60 Cr. Compared to ₹-10 Cr in Mar 2022, the net profit shows a mixed trend.

Does Eastern Treads Ltd pay dividends?

Eastern Treads Ltd has a dividend yield of 0.00 % at the current price of ₹28.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Eastern Treads Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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