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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The Yokohama Rubber Co., Ltd. has been named a ‘Supplier Engagement Leader’, the top ranking in the 2025 Supplier Engagement Assessment by CDP, a global environmental nonprofit focused on a sustainable economy. This marks the second consecutive year the company has received the highest rating.

The CDP assessment examines how businesses effectively collaborate with suppliers on climate change issues, based on five criteria from its climate questionnaire: governance and strategy, emissions targets, Scope 3 emissions, risk management and supplier cooperation. Yokohama Rubber aims to achieve net zero CO₂ emissions from its own operations by 2050 and has disclosed Scope 3 emissions since 2013.

To address supply chain climate impact, the company created the Yokohama Green Procurement Guidelines with suppliers to promote eco-friendly raw materials. It also holds annual CSR briefings for suppliers on carbon neutrality. Under its ‘Caring for the Future’ sustainability slogan, Yokohama Rubber continues to generate shared value by tackling social issues through business activities.

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HF Group’s Freudenburg site in Germany has once again been awarded the EcoVadis Gold Medal, a distinction granted only to the top five percent of companies assessed by EcoVadis in the 12 months prior to the medal issue date.

The recognition reflects the quality of the company’s sustainability management system and demonstrates a firm commitment to promoting transparency throughout the value chain, acknowledging its continued dedication to responsible business practices and continuous improvement.

Simultaneously, the group is now preparing for a group-wide EcoVadis assessment, aiming to achieve its first consolidated group result by the close of 2026. This initiative represents another important milestone in strengthening HF Group’s sustainability journey on a global level, reinforcing its long-term environmental and social governance objectives across all operations.

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BKT Tyres, the tyre mobility brand of Balkrishna Industries Ltd. (BKT), has introduced a 24x7 journey assistance programme called BKT YOU FORWARD for two-wheeler riders. The initiative marks the company’s shift from a pure tyre manufacturer to a comprehensive mobility partner, offering support that extends well beyond the point of sale and aligns with its Elevate Your Drive philosophy.

Available across India, the programme provides round-the-clock assistance through a dedicated helpline for unexpected incidents like punctures, breakdowns or accidents. Services include towing, repairs, ambulance access, cab arrangements and legal aid, all aimed at reducing rider anxiety and ensuring uninterrupted mobility.

A digital-first campaign film starring veteran actor Rakesh Bedi brings the initiative to life through everyday riding scenarios, showing how reliable support turns stressful roadside moments into reassuring experiences.

BKT YOU FORWARD offers three structured plans with two-year validity: the Basic Plan at INR 99, the Signature Plan at INR 149 and the Elite Plan at INR 199. Partner agencies Crossroads and Bi WW support the programme, which relies on a robust service infrastructure, real-time monitoring and defined processes to maintain consistent customer experiences and long-term engagement.

Mahesh Koppad, Chief Marketing Officer, BKT Tyres, said, “Indian riders face diverse challenges every day, and access to timely, reliable support can redefine their journey experience. At BKT Tyres, our philosophy of Elevate Your Drive is not limited to selling tyres; it’s a long-term commitment to rider confidence and mobility. BKT YOU FORWARD, as the name suggests, is designed with consumer-first principle and embodies this promise by offering a structured, 24x7 assistance programme that covers nearly every scenario a rider may encounter. This initiative is not just about solving problems, it’s about building trust, continuity and assurance into every journey. By combining strong service infrastructure, real-time monitoring and defined escalation processes, we are setting a new benchmark in customer engagement. Our vision is to ensure that riders don’t just move forward but move forward with confidence.”

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Xingda, a prominent producer of rubber reinforcement materials, has joined forces with tyre manufacturer Pirelli and low-carbon steel specialist Nanjing Iron & Steel (NISCO) to obtain ISCC PLUS certification across the entire scrap steel recycling chain. The jointly awarded certification spans every stage from raw material sourcing and steel cord production to finished tyre manufacturing.

The pilot project, championed by Pirelli and taken up by both Xingda and NISCO, seeks to add recycled steel to the ISCC PLUS approved materials list. This achievement represents continued progress in certifying the complete tyre supply chain under the ISCC PLUS framework for recycled steel usage.

Through this certification, a fully traceable circular model has been validated. Scrap steel carrying ISCC PLUS certification is turned into high-grade wire rod at NISCO, then converted into steel cord by Xingda and finally incorporated into tyres produced by Pirelli. The three value chain leaders are demonstrating collective action under a single certification system to speed up the circular economy transition. The partnership has helped define technical standards and sustainability protocols, enabling transparent communication about raw material origins.

Xingda has confirmed that recycled steel can be used in steel cord and bead wire applications at proportions between 40 and 100 percent. The company has established targets of reaching 40 percent recycled content by 2030 and full 100 percent by 2050. Meanwhile, Pirelli, as an early adopter of ISCC PLUS certified recycled steel in tyre production, aims to launch a tyre composed of over 80 percent bio based and recycled materials by 2030 while achieving 40 percent in total raw material use. NISCO supplies green special steel to the automotive sector using advanced electric arc furnace technology, with plans to peak carbon emissions by 2030 and reach carbon neutrality by 2050.

The ISCC PLUS certification awarded to this three-party collaboration ensures that the recycled steel meets strict sustainability and traceability standards. As a globally recognised system for tracking recycled and renewable materials across complex supply chains, ISCC PLUS now supports a replicable model for the worldwide tyre industry, allowing the full journey from scrap steel to finished tyres to be verified in response to rising market demand for transparent, circular supply chains.

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