GRP, an Indian rubber recycling company, reported a 20 percent year-over-year revenue growth for both Q3 and the first nine months of FY25, despite facing margin pressures from elevated raw material costs.

The company recorded total income of INR 1,327 million in Q3 FY25, with EBITDA margins holding steady at 9.8 percent. For the nine-month period, revenue reached INR 3,912 million, while EBITDA stood at INR 363 million.

"We achieved a 12 percent increase in volumes on a standalone basis, with Reclaim Rubber volumes growing nine percent despite subdued global tyre demand," said Harsh Gandhi, Managing Director of GRP Limited.

The company recognized INR 121 million in Extended Producer Responsibility (EPR) credits year-to-date, with an additional INR 180 million worth of credits valued at minimum support price still available for sale.

Expansion Plans

GRP is moving forward with its INR 2.5 billion expansion plan, having secured financing from French development finance institution Proparco. The company has also received shareholder approval to raise an additional INR 1.5 billion through a qualified institutional placement.

"We remain on track to commence operations for the first line of crumb rubber and continuous pyrolysis line by Q4 of this financial year," Gandhi stated, noting that INR 330 million has already been invested in the project.

Industry Developments

The expansion comes as major carbon black producers like Birla Carbon, Epsilon Carbon, and Phillips Carbon Black launch recovered carbon black products using tyre pyrolysis oil (TPO).

"With carbon black producers now actively sourcing TPO to produce their own grades of recovered carbon black, it allows us a new avenue for sale, which was maybe 6 to 8 months ago, was non-existent," Gandhi explained.

Future Outlook

The company expects margins to stabilize following recent raw material cost pressures, particularly in its synthetic rubber reclaim business. GRP's subsidiary focused on recycled polyolefins is gaining approvals from major brands ahead of new recycling regulations taking effect from April 2025.

"Once we do get into this business, there are a lot of synergies between the two businesses, and that will allow for the overall margin profile of the business to move towards mid-teens and even a little higher towards the high-teen EBITDA numbers for a consolidated level," Gandhi added.

Bekaert has inaugurated its new India Concrete Expertise Centre, a cutting-edge facility dedicated to advancing the concrete industry through innovative research and development of fibre-reinforced concrete applications, in its plant in Lonand, Maharashtra. Her Royal Highness Princess Astrid of Belgium, who is presiding over the Belgian Economic Mission to India, and members of the Bekaert Group Executive were present at the signing ceremony in New Delhi.

With its cutting-edge equipment, Bekaert's new concrete expertise centre is the first laboratory in the world to evaluate the use of steel fibres to strengthen spray concrete. It is anticipated that the project would have a major positive impact on the Indian and international building industries. The knowledge centre will hasten the development of high-performance, sustainable fibre-reinforced concrete solutions that will influence the future of building by encouraging cooperation and utilising cutting-edge technology. The official opening took place on 5 March in the presence of local officials.

Eric Peeters, Divisional CEO Sustainable Construction, Bekaert, said, “This concrete lab represents a major milestone in our commitment to driving innovation and excellence in the construction industry. It is a great honour to Bekaert that HRH Princess Astrid officially inaugurates our expertise centre during the Belgian Economic Mission to India.”

Bridgestone Americas has announced a three-year extension for its Firestone brand as the Title Sponsor of the Grand Prix of St. Petersburg. Through 2028, the Firestone name will continue to appear on the first race of the NTT INDYCAR SERIES season thanks to this new contract with Green Savoree Racing Promotions.

Firestone is the only tyre supplier for the 26th straight season, which begins with the Firestone Grand Prix of St. Petersburg. Additionally, this year marks the 125th anniversary of Firestone's establishment on 3 August 1900, in Akron, Ohio. A long-term extension for Firestone to serve as the only tyre supplier for all INDYCAR-approved racing was announced in September 2024 by Bridgestone and Penske Entertainment. Taking place from 28 February to 2 March, this year's race will kick off the 2025 NTT INDYCAR SERIES season.

Lisa Boggs, Director, Bridgestone Americas Motorsports, said, “St. Pete is always an exciting event as we reconnect with fans and wave the green flag for a new season of racing. We take great pride in Firestone’s rich history in the sport, and starting each season at the Firestone Grand Prix of St. Petersburg has become a big part of that. We’re excited to extend this tradition as part of our ongoing commitment to driving excitement and innovation in racing for years to come.”

Kim Green, Co-Owner, Chairman and CEO of Green Savoree Racing Promotions, organisers of the Firestone Grand Prix of St. Petersburg presented by RP Funding, said, “Firestone has been an integral part of the growth and success of the Grand Prix of St. Petersburg as title sponsor. This latest extension will take our partnership to a remarkable 15-year span. It’s an iconic brand that’s helped champions redefine limits in racing for generations, which aligns perfectly with the energy and excitement that embody this event.”

The U.S. Tire Manufacturers Association (USTMA) forecasts total US tyre shipments of 340.4 million units in 2025, up from 337.3 million in 2024 and 332.7 million in 2019. This beats the previous record of 337.3 million units in 2024.

Compared to 2024, Original Equipment (OE) shipments of passenger, light truck, and truck tyres are predicted to rise by 1.6 percent, 1.2 percent and 2.7 percent, respectively, for a total increase of 0.9 million units. Replacement passenger, light truck, and truck tyre shipments are also expected to grow by 0.8 percent, 1.0 percent and 0.8 percent, respectively, for a total of 2.2 million units

Ludhiana-headquartered tyre maker Ralson India has strengthened its leadership team with the appointment of industry veteran Selvakumar Thangarasu as its new Chief Technology Officer (CTO).

Thangarasu comes with over two decades of experience in the tyre industry, having worked with leading players such as Apollo Tyres, The Goodyear Tire & Rubber Company, Linglong Tire and CEAT, among others.

Before taking on the new role, Thangarasu spent almost seven years with CEAT and held the position of General Manager – Technical. He had joined CEAT in April 2018.

Established in 1974, Ralson India is a leading manufacturer of bicycle tyres and currently amongst the top five players in the segment. It has expanded its product offerings for the automotive industry and is now focussing on stepping up its game in the truck radial tyres.

The company has a production capacity of more than 125,000 tyres and tubes per day and exports to more than 70 countries from India globally