GRP Posts 19%Revenue Growth, Announces Expansion Strategy with EUR 15M Foreign Loan
- By Sharad Matade
- May 13, 2025
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.
Japan’s Zeon Lifts Full-Year Profit Outlook On Strong Battery Materials, Optical Films Demand
- By TT News
- November 04, 2025
Japanese chemicals maker Zeon Corporation raised its full-year operating profit forecast after first-quarter earnings more than doubled, driven by robust demand for battery materials and optical films.
The Tokyo-based company, which produces speciality plastics and synthetic rubbers, posted operating income of 12.1 billion yen ($83.3 million) for the three months to June 30, up 136 percent from the previous quarter and 59 percent higher year-on-year.
Net sales declined 2 percent to 103.1 billion yen from a year earlier, affected by yen appreciation and lower elastomer prices reflecting declining raw material costs. However, sales volumes of optical films and battery materials increased during the period.
The company revised its full-year operating income forecast upwards to 30.5 billion yen from a previous estimate of 28 billion yen. However, this still represents a 9 percent decline from the prior year. Full-year sales are now expected to reach 415 billion yen, up 4 percent.
Zeon maintained its annual dividend forecast at 72 yen per share and said it is proceeding with a share buyback programme of up to 10 million shares or 10 billion yen for the current fiscal year.
The speciality materials business, which includes optical plastics, films and battery materials, generated operating income of 7.4 billion yen in the first quarter, jumping 40 percent year-on-year. Sales in the division fell 3 percent to 29.3 billion yen, partly due to timing differences at overseas affiliates related to the Chinese New Year.
Demand for battery materials remained steady, supported by China’s electric vehicle subsidy policies, whilst shipments to the United States energy storage systems market began during the quarter. The company said European EV sales showed signs of recovery, though inventory adjustments were prolonged.
In optical films, shipments increased due to expanded market share in large-sized televisions, whilst demand remained steady for tablet and smartphone applications.
The elastomer business posted operating income of 4.2 billion yen, up 12 percent from a year earlier, though sales were flat at 58.1 billion yen. The division was affected by weak overseas demand and lower selling prices caused by falling raw material costs.
Zeon also announced plans to sell a portion of its investment securities between August 2025 and March 2026, expecting to book a gain of approximately 10.9 billion yen to improve capital efficiency. The move is expected to reduce its cross-shareholdings ratio to around 11-12 percent of net assets by the end of the fiscal year.
The company said it had completed a reorganisation in June, transferring its chemicals business to the speciality materials division to accelerate decision-making and maximise profitability.
For the second half of the year, Zeon cautioned that optical film shipments are expected to decline due to panel production adjustments and seasonal mobile device demand. However, it described the adjustment as temporary with growth anticipated in fiscal 2026.
Continental Launches All-New TKC 80² Off-Road Motorcycle Tyre
- By TT News
- November 04, 2025
Continental is redefining adventure riding for a new generation with the launch of the TKC 802, a complete re-imagining of its legendary TKC 80 tyre. After four decades, this isn't a simple update but a fundamental redesign crafted for today's powerful and heavy adventure motorcycles. It answers a clear call from riders who are increasingly drawn to uncharted paths, yet refuse to sacrifice performance on the journey there. The TKC 802 is engineered to be an uncompromising partner for this dual-purpose lifestyle.
Its performance begins with a cleverly engineered tread. The pattern uses larger, strategically shifted blocks that create more biting edges for superior grip in dirt, sand and gravel. This design also actively resists clogging, ensuring consistent performance where other tyres might pack up with mud. Stability is enhanced through a larger contact area, inspiring confidence whether carving a paved corner or navigating a rocky trail. The logic even extends to direction: the front tread is angled to dig in during braking, while the rear is designed in the opposite way to maximise acceleration traction without excessive digging.
Beneath the tread, a new carcass provides the backbone. It is specifically calibrated for a balanced 50/50 use, offering the robust stability needed for a loaded bike at high speeds or on demanding off-road sections while also improving ride comfort through optimised damping. An advanced rubber compound tackles the classic trade-off, delivering aggressive grip across diverse surfaces while also promising remarkable longevity and wear resistance. This is complemented by RainGrip technology, which instils confidence by maintaining secure handling when the weather turns cold and wet.
Built for epic journeys on every continent and backed by robust puncture protection, the TKC 802 is for those who ride without limits. To fit a broad spectrum of modern travel enduros from brands like BMW, KTM and Ducati, it will be produced in multiple sizes. With its distinct new sidewall icon, the Continental TKC 802 will be available at specialist retailers starting in Spring 2026.
Raphael Michels, Product Manager for Motorcycle Tires at Continental, said, “Our new flexible rubber compound adapts perfectly to the micro-roughness of the asphalt, providing excellent grip. At the same time, we’ve worked intensively to resolve the conflict between on- and off-road performance in the best possible way. The tyre tread combines maximum flexibility for safe wet grip with high block stiffness for stability and mechanical grip.”
Christoph Ettenhuber, Head of Business Field Motorcycle Tires at Continental, said, “With the TKC 802, we’re setting new standards in terms of versatility, robustness and off-road performance. The combination of innovative tread design, new rubber compound and optimised carcass offers adventure riders maximum safety, control and riding pleasure on a wide variety of terrains.”
Bridgestone Unveils BATTLAX RACING STREET RS12 Motorcycle Tyre
- By TT News
- November 03, 2025
Bridgestone has confirmed a January 2026 launch for its new premium sports motorcycle tyre, the BATTLAX RACING STREET RS12, in North America. Developed under the concept ‘From Circuit to Street,’ this road-legal tyre is engineered to deliver the highest level of dry grip within the BATTLAX lineup by directly incorporating technologies refined in competitive racing.
The RS12 features a specialised compound derived from race tyre development, which works in concert with a newly designed tread pattern. This pattern’s optimised groove ratio enhances overall tyre rigidity and increases the contact area during cornering for superior grip. A significant innovation for the front tyre is the introduction of the HE-MS BELT structure, a technology previously reserved for top-tier global motorcycle races. This flexible belt system equalises contact pressure to provide a further boost in traction.
By integrating these endurance-racing technologies, the RS12 achieves comprehensive performance improvements on the circuit, with a primary focus on dry conditions. The result is a notable reduction in lap times compared to its predecessor, the RS11. Furthermore, the synergistic combination of its compound, pattern and structure ensures that the high grip level is consistently maintained over multiple laps, resisting performance degradation. This gives riders confidence and a more engaging experience across diverse riding scenarios, from aggressive sport riding on dry pavement to tackling winding roads and dedicated track days.
Rubber Board Donates Cleaning Equipment Worth INR 1 Mln to Kottayam Medical College
- By TT News
- November 03, 2025
India's Rubber Board has donated floor cleaning equipment valued at Rs 10 lakh to Kottayam Medical College as part of the Central Government's cleanliness initiative.
The equipment, comprising a scrubber dryer floor cleaning machine and a vacuum cleaner, was handed over at a ceremony held at the medical college on Sunday.
M Vasanthagesan IRS, Executive Director of the Rubber Board, presented the equipment at a meeting presided over by V N Vasavan, Kerala's Minister for Co-operation, Ports and Devaswom.
The event, conducted under the Centre's 'Swachhata Action Plan', also recognised cleaning workers at the medical college.
Dr Varghese Punnoose, Principal of Kottayam Medical College, Dr T K Jayakumar, Superintendent of the institution, and Dr Binoi K Kurien, Secretary in-charge of the Rubber Board, addressed the gathering.
The Rubber Board, a statutory body under the Ministry of Commerce and Industry, oversees development and regulation of India's rubber industry.
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