Eastern Treads (BSE: EASTRED) had a P/E of 241.0× on 6 Nov 2026, above the industry P/E of 25.6×, and the shares are 20% below their 52-week high. Sales grew 1.3% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹33 Cr. It is a small-cap company with a market cap of ₹15 Cr, ranked 139th of 140 Auto Parts companies by market cap; the shares fell 6.0% over the past year.
- ₹29.49
- ₹29.49
- ₹27.50
- ₹28.58
- 849
Health check
- ReturnsBehind
−6.0% over a year, better than 2 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthSlow
Sales +1.3% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags4 to check
Negative net worth: liabilities exceed assets.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹15 Cr
- Small cap
- P/E
- 241.0
- Industry 25.6
- Price to book
- −1.20
- Peers 8.75
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 12.3%
- ROCE
- n/a
- Peers 15.6%
- Debt to equity
- n/a
- Debt ₹33 Cr
- EPS (TTM)
- ₹0.12
- OPM (TTM)
- 1.7%
- Net margin 0.1%
- Sales growth
- −15.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.25
- EV/EBITDA 47.8
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Negative net worth: liabilities exceed assets.
- Quarterly sales down 15.6% on a year ago.
- P/E of 241.0 against an industry P/E of 25.6.
- Interest coverage of only 0.6×.
About Eastern Treads
Eastern Treads Limited manufactures, sells, and deals in tread rubber, rubber-based adhesives, tyre retreading accessories, and retreading services in India. The company offers pre-cured tread rubber, such as truck bias, truck radial, truck mines, LCV patterns, car and auto patterns, and export patterns; and conventional tread rubber comprising slab and camel-back treads. It also offers bonding gums for steam bonding and electric chamber process; black…
- Headquarters
- Kochi
- Employees
- 179
- Sector
- Consumer Cyclical
- ISIN
- INE500D01015
- Website
- easterntreads.com
Price range
- Avg volume (3M)
- 754
- 1-year return
- minus 6.0%
- From 52-week high
- minus 19.6%
Peers · Auto Parts
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSONSamvardhana Motherson International | 158.55 | minus 5.62% | 1,68,549 | 35.4 | 3.70 | 11.5% | 10.2% | 9.6% | 17.1% | 37.2% | 0.32% | plus 60.8% |
| BOSCHLTDBosch | 50,700.00 | minus 3.38% | 1,49,545 | 54.2 | 19.50 | 24.2% | 19.4% | 13.4% | 10.3% | 24.8% | 0.53% | plus 38.6% |
| UNOMINDAUNO Minda | 1,326.00 | minus 0.67% | 76,572 | 58.1 | 11.21 | 20.5% | 19.1% | 11.0% | 20.5% | 22.3% | 0.22% | plus 6.6% |
| SONACOMSSona BLW Precision Forgings | 900.00 | minus 1.67% | 56,266 | 75.0 | 8.75 | 13.2% | 11.9% | 23.2% | 18.8% | 17.4% | 0.40% | plus 89.2% |
| SCHAEFFLERSchaeffler India | 3,519.70 | minus 1.17% | 55,014 | 41.9 | 8.97 | 25.7% | 20.2% | 17.9% | 12.3% | 9.4% | 0.99% | minus 13.9% |
| MRFMRF | 1,25,295.00 | minus 0.50% | 53,139 | 22.0 | 2.53 | 15.6% | 12.3% | 15.1% | 10.6% | 46.7% | 0.19% | minus 20.3% |
| BALKRISINDBalkrishna Industries | 2,410.00 | plus 0.34% | 46,589 | 32.7 | 4.25 | 13.8% | 11.6% | 21.1% | 3.6% | 5.5% | 0.71% | plus 1.6% |
| EASTREDEastern Treads | 28.92 | plus 1.19% | 15 | 241.0 | −1.20 | – | – | 1.7% | 1.3% | – | 0.00% | minus 6.0% |
| Median of 7 peers | – | −1.17% | 56,266 | 41.9 | 8.75 | 15.6% | 12.3% | 15.1% | 12.3% | 22.3% | 0.40% | 6.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 16.6 | 16.1 | 16.2 | 13.5 | 14.1 | |
| 16.1 | 15.9 | 15.4 | 14.1 | 13.3 | |
| 0.5 | 0.2 | 0.7 | −0.7 | 0.7 | |
| 3.1% | 1.4% | 4.5% | −5.1% | 5.2% | |
| 0.1 | 0.1 | 0.1 | 0 | 0.1 | |
| 0.6 | 0.7 | 0.5 | 0.6 | 0.8 | |
| 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |
| – | – | – | 2.1 | – | |
| −0.1 | −0.5 | 0.1 | 0.6 | −0.2 | |
| – | – | – | −4.7% | – | |
| −0.1 | −0.5 | 0.1 | 0.6 | −0.2 | |
| -0.27 | -1.02 | 0.28 | 1.17 | -0.31 |
Profit & loss
- Sales CAGR 3Y
- +1.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 58.4 | 57.8 | 58.2 | 60.6 | |
| – | minus 0.9% | +0.7% | +4.0% | |
| 61.3 | 57 | 59.1 | 59.2 | |
| −2.9 | 0.8 | −0.9 | 1.4 | |
| −5.0% | 1.4% | −1.5% | 2.3% | |
| −0.1 | 0.1 | 0.2 | 0.1 | |
| 3.1 | 2.8 | 2.3 | 2.2 | |
| 1.7 | 1.2 | 0.8 | 0.7 | |
| – | – | 0 | 1.4 | |
| −7.7 | −3.1 | −3.8 | 0.1 | |
| 5.8% | 5.5% | 19.9% | −47.1% | |
| −7.2 | −2.9 | −3 | 0.1 | |
| -13.82 | -5.63 | -5.42 | 0.15 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.4 | 5.4 | 5.4 | 5.4 | |
| −12.3 | −15.1 | −18.2 | −18 | |
| 27.6 | 22.3 | 24.4 | 26.1 | |
| 16.8 | 22.8 | 22 | 21.8 | |
| 37.6 | 35.4 | 33.7 | 35.3 | |
| 14.7 | 13.5 | 12.5 | 13.8 | |
| 0.5 | 0 | 0.3 | 1.4 | |
| 0 | 0 | – | 0 | |
| 0.5 | 0.7 | 1 | 0.6 | |
| 21.9 | 21.1 | 19.9 | 19.4 | |
| 37.6 | 35.4 | 33.7 | 35.3 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.8 | 2.9 | 0.5 | 2.4 | |
| −0.2 | 0.3 | −0.1 | −2.2 | |
| −5 | −2.9 | −0.1 | −0.6 | |
| −0.3 | 0.3 | 0.2 | −0.4 | |
| −0.6 | −0.1 | −0.5 | −2.3 | |
| 4.2 | 2.8 | −0 | 0.1 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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