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.

In a move to promote rubber cultivation, the Rubber Board of India has announced a new financial aid scheme for 2025. Growers in non-traditional regions are now eligible to apply for subsidies supporting both new planting and re-planting initiatives. The application process is exclusively online through the ‘service plus’ portal on the Board’s official website, with a submission deadline of 31 October 2025.

To complete their application, growers must provide digital copies of essential documents. These include land ownership certificates, a rough sketch of the planted area, a copy of their Aadhaar-linked bank passbook and proof of purchasing planting materials from recognised nurseries. Successful applicants will receive financial assistance of INR 50,000 per hectare. For additional information, growers are advised to consult the Rubber Board’s website or contact their nearest regional office, field station, or the Board’s call centre.

The global tyre recycling market is forecast to grow to USD 8.92 billion by 2029 from USD 7.44 billion in 2024, driven by mounting volumes of end-of-life tyres (ELTs), tighter environmental regulations and rising demand for sustainable materials, according to research firm MarketsandMarkets.

The market is projected to expand at a compound annual growth rate (CAGR) of 3.7 percent over the period, the report said.

According to the World Business Council for Sustainable Development, one passenger tyre per person is discarded annually in the developed world, contributing to about 1 billion ELTs globally each year. A 2022 study in ScienceDirect estimated some 4 billion ELTs are already stockpiled worldwide, a figure expected to reach 5 billion by 2030.

“The mass piling of 1 billion ELTs per year to be expected to reach 5 billion by 2030 calls for an ever-increasing process of recycling tyes in a more sustainable means of waste management,” the report noted.

MarketsandMarkets said demand is being spurred by both environmental concerns and industry adoption of new recycling technologies aimed at reducing landfill volumes while maximising material reuse.

Rubber is set to remain the most dominant recycled by-product, with applications in crumb rubber, rubberised asphalt, playground surfaces and sports fields. Mechanical shredding, described as the most cost-effective and scalable method, will continue to lead recycling processes due to its wide applicability in construction, energy and automotive sectors.

Construction is expected to be the largest end-use industry, as recycled materials such as crumb rubber are increasingly used in road building and green infrastructure projects.

Asia-Pacific is projected to remain the biggest consumer of recycled tye products during the forecast period.

Key players in the sector include Liberty Tye Recycling (US), GENAN HOLDING A/S (Denmark), ResourceCo (Australia), GRP Ltd (India), Lehigh Technologies (US), Entech Inc (US), Emanuel Tye (US), BDS Tye Recycling (US), Contec (Poland) and CRM (US).

The global market for Tyre Pressure Monitoring Systems (TPMS) is projected to grow modestly over the next five years, with volumes rising from an estimated 68.9 million units in 2025 to 71.4 million units by 2030, according to a report published.

The “Sector Innovation Report: Tyres and Wheels Q2 2025”, released by Research and Markets, forecasts a compound annual growth rate (CAGR) of 0.7 percent for the TPMS market.

The study synthesises data from multiple sources and provides an overview of the tyres and wheels sector, highlighting recent developments, patent activity, job trends and regional growth prospects.

The report identifies opportunities for auto manufacturers and suppliers to refine sales and marketing strategies, noting growing demand for detailed, region-specific data.

Key sections include an analysis of patent filings by region and country, sector forecasts across five geographies – Asia-Pacific, Europe, the Middle East and Africa, North America and South America – as well as profiles of leading component suppliers.

The report also tracks job listings and advertising activity in the sector, broken down by geography, occupational category and level of seniority.

Companies covered in the report include Bridgestone, Continental, Goodyear, Michelin and Hankook.

Truck driver Adam Medley of Omro, Wisconsin, has been named the winner of the 41st Goodyear Highway Hero Award. The professional driver for J.B. Hunt Transport, Inc. was recognised for a courageous act performed on 28 July 2024 while driving on County Rd A in Green Lake, WI.

While navigating a familiar route, Medley initially steered to avoid what he assumed was road debris. As he drew closer, he realised a person was lying directly in the roadway. Medley promptly and safely pulled over, rushed to assist the individual and moved them to safety before contacting the police.

Established in 1983, the Goodyear Highway Hero Award honours commercial drivers in the U.S. and Canada who perform extraordinary acts of courage. Winners are selected by an independent panel of industry judges from nominations submitted each year. As this year’s honouree, Medley will receive a cash prize and a commemorative ride on the Goodyear blimp.

Goodyear presents the award to acknowledge the vital role of the commercial trucking industry. The program’s stories of heroism inspire the company to continuously enhance its commercial tire products and support services, like its Fleet HQ network, to ensure drivers have reliable assistance on the road.

Nick Hobbs, Chief Operating Officer at J.B. Hunt, said, "In a moment where every second counted, Adam put the safety and well-being of others first. His actions exemplified integrity and selflessness, and we are excited that Goodyear has recognised him with this year's Highway Hero Award."

Joe Burke, Vice President, Goodyear North America Commercial, said, "Adam's story continues to remind us that professional truck drivers are the unsung heroes of our roads. His quick and professional response to this unexpected situation demonstrates the integrity, dedication and compassion that define what's the best of our industry."