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.

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Pirelli is all set for the Monaco Grand Prix, a street circuit steeped in glamour and racing history since 1929. For this 3.337-kilometre layout with 19 tight corners, the Italian tyre manufacturer has selected the softest compounds in its range – C3, C4 and C5 – to provide maximum mechanical grip on the Principality’s unusually smooth asphalt surface.

The narrow carriageway follows regular urban traffic lanes, leaving virtually no run-off areas and placing safety barriers just centimetres from the racing line. Drivers frequently brush against these walls while pursuing the ideal trajectory, with average speeds the lowest of the Formula 1 season. In some sections, cars decelerate to roughly 50 kilometres per hour, making qualifying the most critical session of the weekend since overtaking is exceptionally rare.

Several sections of the track have been resurfaced for this edition, including between Turns 19 and 1, from Turn 7 to the tunnel entrance and at pit lane entry and exit. Although graining could appear, tyre behaviour is unlikely to be significantly affected because the Monaco circuit primarily subjects rubber to traction-related loads. Low degradation traditionally encourages a one-stop race strategy, though an experimental rule in 2024 forced two pit stops by requiring three different tyre sets. That regulation has since been abandoned.

Red flags and safety car periods frequently disrupt the race due to the high probability of barrier contact and the difficulty of recovering stricken cars. In 2024, an opening-lap red flag allowed all drivers to immediately fulfil the two-compound requirement, enabling a split strategy between Medium and Hard tyres for the remainder of the Grand Prix. The 2025 edition reintroduced a three-set rule, prompting most drivers to choose Medium-Hard combinations while six teams used all three compounds including the C6 Soft.

Now in its 72nd running in Monaco, the event has seen Ayrton Senna claim six victories, one more than Graham Hill and Michael Schumacher. McLaren remains the most successful constructor with 16 wins, followed by Ferrari on 10. Reflecting the Principality’s elegance, Pirelli has unveiled a special Podium Cap in deep red and champagne colours, designed by Denis Dekovic and available on the Pirelli e-commerce platform.

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Tyres Europe has joined a broad coalition of European industry associations urging the European Commission to fix persistent flaws, gaps and technical limitations in the EU Deforestation Regulation’s Information System before the rules take effect on 30 December 2026. The system serves as the central pillar of the EUDR, designed to ensure traceability and compliance within highly complex supply chains.

Industry feedback highlights major shortcomings, particularly restrictions on aggregating Due Diligence Statements and a lack of essential functions for business users. These issues threaten to impose heavy administrative burdens and create operational uncertainty for companies trying to meet the regulation’s requirements.

The coalition is demanding that the Commission make the system not only legally compliant but also operationally practical, thoroughly stress-tested and adapted to real-world business practices. A reliable and user-friendly platform is deemed critical for supporting compliance while protecting the uninterrupted supply of key commodities and products into the European market.

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Van den Ban Autobanden has announced the passing of its founder, Arie van den Ban, with deep sorrow. He was a familiar and respected figure both inside and outside the organisation.

Establishing the company in 1968, Arie van den Ban used vision, entrepreneurship and determination to transform it into an international tyre wholesaler and distributor serving global customers. The company looks back with great respect and gratitude on his profound contributions.

The company statement read: “For many, both within and beyond the company, Arie was a familiar and respected figure. His influence on the organisation and the people around him will be felt for years to come. We look back with great respect and gratitude on everything he has meant to Van den Ban Autobanden.”

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Nokian Tyres has once again secured a position on the Financial Times’ Europe’s Climate Leaders list, maintaining a perfect record since the ranking first launched in 2021. The annual recognition, compiled jointly by the Financial Times and research firm Statista, evaluates data from approximately 3,000 European companies. Being featured highlights the Finnish tyre manufacturer’s measurable advancements in cutting greenhouse gas emissions.

Out of 600 companies selected across all industries for their five-year emission reduction progress, Nokian Tyres placed 29th overall. Within the automobiles and components sector, only one other firm joined it in the top 100, and Nokian Tyres emerged as the highest-ranking tyre manufacturer on the entire list. The company’s strong performance underscores its leadership within its specific industry segment.

ductions in both absolute greenhouse gas emissions and emissions intensity, alongside broader climate commitments and collaboration with external sustainability assessors such as CDP and the Science Based Targets initiative. These combined criteria determine the final order of Europe’s most climate-progressive companies.

Susanna Tusa, VP – Public Affairs and Sustainability, Nokian Tyres, said, “From using mostly renewable energy to building the world’s first full‑scale zero‑CO₂‑emissions tyre factory, our climate actions help pave the way for more sustainable mobility. We want to offer drivers safe, high‑quality tyres that are made with continuously lower environmental impact as we continue moving towards net‑zero greenhouse gas emissions. This ranking by the Financial Times is a great recognition of our work.”

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