SmallCap Hunter : Trying to find the dark horses with triggers

Few updates on Tinna Rubber from my side ( which is not covered in investors presentation, concall or annual report):–

I had attended the AGM on 30/06/2022,
Few notable points are :–

1. An international tyre company added to its customer list and also received first major order from it in Q1of fy23 that is ATG Yokohama.

2. Going forward management is very confident of achieving 20% EBIDTA margin.

3. Because of increased working capital requirements the company may not be able to reduce the Debt level but they are targeting to reduce it by 10% in fy23.

4. Management told that there is no need of major capex for growth in fy23 as the company has sufficient spare capacity.

5. They are installing Solar power system in one plant.

6. Capacity of micronized rubber powder (MRP) is increased to 12000 MTPA from 10000 MTPA.

7. Projected sales figures for fy23 is 320-350 crs.

         Recently management of Tinna Rubber told in a conference that they have started to recycle the passenger vehicles tyre in addition to Truck and Bus radial tyres. They also seeing opportunity to recycle off-road tyre and Agricultural tyre as well.
   

   In concall of Q1 fy23 , management told that Tinna Rubber has the capacity to recycle 75000-80000 MT of waste tyre per annum.
   As per Investors presentation dated 12/08/2022 , Tinna Rubber has crushed 15000 MT of waste tyre on Q1 of fy23. So, Tinna has still 30% of spare capacity for volume growth on annualised basis.