GRP Limited reported a 19 percent year-on-year increase in total income to INR 5.52 billion for fiscal year 2025, driven by an 11 percent increase in volumes and a three percent price increase. The company also announced a strategic capital expenditure plan of INR 2.5 billion to expand its sustainability-focused operations.

The Mumbai-headquartered polymer recycling company saw its EBITDA climb 33 percent to INR 694 million, with margins expanding by 128 basis points to 12.6 percent. Profit after tax rose 36 percent to INR 307 million for the fiscal year ended March 2025.

Expansion Plans and Financing

GRP’s board has approved a significant expansion plan that will be executed in two phases over three years. Phase one will involve capital expenditure of INR 1.5 billion to be deployed by December 2025.

GRP secured approval to raise INR 1.5 billion to finance the expansion through a qualified institutional placement (QIP) or other permissible methods. Additionally, the company has finalized documentation for external commercial borrowing of EUR 15 million from the French development finance institution Proparco.

“We've already invested approximately Rs 49 crore in our integrated facility project," said Harsh Gandhi, Managing Director of GRP Limited. "The crumb rubber unit commenced operations in Q4 FY25, and the first line of our continuous pyrolysis unit is scheduled to begin operations in Q1 FY26.”

Strategic Focus on Sustainability

The capital expenditure will focus on three key areas: deploying new technology to produce reclaimed rubber with lower CO₂ emissions, expanding capabilities in crumb rubber and other categories identified under India’s Extended Producer Responsibility (EPR) regulations, and growing the plastic recycling business.

The company noted that its energy investments already yield tangible benefits, with savings of INR 36.7 million from renewable power and INR 36.4 million from biofuel projects in FY25. These initiatives contribute significantly to reducing greenhouse gas emissions.

Quarterly Performance

For the fourth quarter of FY25, GRP reported total income of INR 1.606 billion, up 16 percent year-on-year. Q4 EBITDA jumped 45 percent to INR 331 million, with margins expanding by 404 basis points to 20.6 percent. Profit after tax for the quarter rose 67 percent to INR 194 million.

Business Segment Performance

The company’s reclaim rubber segment, which contributes 89 percent of total revenue, saw a 16 percent increase in revenue to INR 4.78 million for FY25. The non-reclaim rubber segment, comprising engineering plastics, polymer composite, and custom die forms, grew 15 percent to Rs 572 million.

Export revenue, which makes up 56 percent of total revenue, increased by 11 percent to INR 2.98 billion. Domestic revenue grew by 23 percent to INR 2.37 billion.

Extended Producer Responsibility Revenue

GRP reported INR 220 million in EPR credit sales and an accrual of INR 214 million in EPR revenue, citing improved stability in the EPR regime, consistent demand for credits, and the emergence of a stable market price.

“The enforcement of EPR regulations for plastics starting 1 April 2025 is expected to drive further demand for our products," added Gandhi.

Operational Efficiency

The company improved its working capital efficiency, reducing the working capital cycle from 94 days in FY24 to 76 days in FY25. Employee costs declined from 11.8 percent to 11.3 percent of revenue, reflecting the impact of automation initiatives.

Chennai-headquartered tyre major Apollo Tyres has announced the appointment of Mahalakshmi Ramaswami as its new Chief Human Resources Officer effective immediately, the company said in a regulatory filing.

Ramaswami’s appointment was approved by the board of directors following a recommendation from the Nomination and Remuneration Committee.

Prior to joining Apollo Tyres, she most recently served as the Head of HR for the Southeast Asia Cluster based in Singapore at Mondelez International.

She brings over two decades of experience across multinational organisations spanning fast-moving consumer goods, telecommunications, pharmaceuticals and consulting sectors.

During her tenure at Mondelez, Ramaswami is credited to have a played pivotal role as the HR Director for India Region in the business turnaround by aligning people strategy with organisational objectives.

She also has held leadership roles at prominent Indian and multinational companies including Bharti Group, Ranbaxy, Ballarpur Industries and EY.

Ramaswami holds an MBA from IMT Ghaziabad and a Bachelor’s degree in Physics (Hons.) from Delhi University.

On the other hand, as part of the Management Restructuring at Apollo Tyres, Dipankar Ghosh, Group Head of HR Business Partnership for Manufacturing & Projects, will no longer be part of the senior management structure as defined under securities regulations, effective 16 July.

The restructuring reflects Apollo Tyres’ strategic focus on strengthening its human capital capabilities as the company navigates competitive pressures in both domestic and international markets.

Bridgestone India has presented the European Alignment Certificate to the Automotive Research Association of India (ARAI), recognising the successful completion of their Rolling Resistance (RR) Lab Alignment. The certificate was presented to Dr Reji Mathai, Director of ARAI, by Rajarshi Moitra, Deputy Managing Director of Bridgestone India, during a ceremony attended by senior leaders from both organisations.

This milestone strengthens the partnership between Bridgestone and ARAI, India’s leading automotive R&D institution for testing and standardisation. Rolling resistance plays a crucial role in enhancing fuel efficiency, aligning with both organisations’ commitment to advancing tyre technology. The certification underscores their shared dedication to fostering innovation, improving testing capabilities and promoting sustainable mobility solutions in India.

Yokohama Rubber has been recognised for its sustainability leadership with continued inclusion in three prestigious FTSE Russell ESG indexes. The company marks its 21st consecutive year on the FTSE4Good Index Series, a global benchmark for responsible investing. Additionally, it maintains its ninth straight year on the FTSE Blossom Japan Index and fourth year on the FTSE Blossom Japan Sector Relative Index – both key indicators of Japanese ESG excellence endorsed by Japan's Government Pension Investment Fund (GPIF).

These indexes, developed by London Stock Exchange Group's FTSE Russell, help investors identify companies with strong environmental, social and governance (ESG) performance. Yokohama Rubber's sustained inclusion reflects its long-term commitment to sustainable business practices.

The fourth round of the 2025 Lamborghini Super Trofeo Asia Series, a racing competition hosted by Italian supercar brand Automobili Lamborghini S.p.A and powered by Hankook Tire, will take place from 18 to 20 July at INJE SPEEDIUM in Gangwon Province. As the exclusive tyre supplier, Hankook Tire continues to elevate Korean motorsports through its partnership with Lamborghini, showcasing its high-performance Ventus racing tyres on the Huracán Super Trofeo EVO2.

The 3.91-km INJE SPEEDIUM circuit, featuring 19 corners and a 40-metre elevation change, demands exceptional tyre performance under extreme conditions, including high-speed straights and scorching summer temperatures. Hankook’s Ventus tyres are engineered to deliver superior grip, durability and heat resistance, ensuring peak performance in challenging racing environments.

Beyond the races, Hankook will host the ‘Ventus Experience’, inviting European automotive influencers to test the Ventus Super Sports line and explore its advanced R&D facilities.

The 2025 Lamborghini Super Trofeo spans Asia, Europe and North America, with six rounds per series. Top contenders will advance to the Grand Final in Misano, Italy, this November, competing for the season championship.