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 tyre industry gathered to honour outstanding innovation and individual accomplishment over the past year during the Tire Technology Expo 2026 held in Hannover. The Tire Technology International Awards, spanning 13 categories, recognised both technological progress and the commitment to a more sustainable future within the tyre sector. Organised by the Tire Technology International magazine, the winners were selected by an independent panel of journalists and technical experts.

Sustainability was a dominant theme, highlighted by three distinct environmental awards. Bridgestone received the award for tyre design innovation, celebrated for developing a truck tyre composed of 70 percent recycled and renewable materials, a notable industry milestone. In manufacturing, Continental was acknowledged for its significant strides in reducing freshwater consumption during production with the Environmental Achievement of the Year – Manufacturing award. The Environmental Achievement – Industry Contribution award went to the BioButterfly project, a collaborative effort involving Michelin, IFP Energies Nouvelles and Axens. This initiative was praised for creating bio-based butadiene from bioethanol, presenting a credible substitute for fossil fuel-derived materials and demonstrating strong potential for immediate industrial application.

Further technical achievements were recognised across several categories. Flexsys earned the Chemicals and Compounding Innovation of the Year award for developing the first practical alternative to the antioxidant 6PPD after extensive research. Teijin Aramid was honoured with the Materials Innovation of the Year award for industrialisation of its high-performance Twaron Next para-aramid fibre. A collaborative R&D breakthrough by Goodyear and TNO, which integrates tyre intelligence directly into a vehicle's automatic emergency braking systems to enhance safety, won the R&D Breakthrough of the Year award. In manufacturing equipment, Comerio Ercole’s advanced modular calendering line, Zeus, won the Tire Manufacturing Innovation of the Year award. Uzer Makina, a long-time finalist, was finally named Tyre Industry Supplier of the Year.

The event also celebrated conceptual and product excellence. Michelin had a particularly successful evening, first winning the Tire Concept of the Year award for its Lunar Airless Wheel, designed to withstand the extreme conditions on the moon. The company then claimed the highly anticipated Tire of the Year award for its Primacy 5 Energy, a tyre noted by the jury for achieving top EU label ratings in most sizes while offering improved longevity and reduced emissions compared to its predecessor. In the final major category, Continental was named Tire Manufacturer of the Year for the second consecutive year and the fifth time overall, following a review of the top manufacturers' yearly contributions.

The awards also highlighted personal achievements within the field. The Young Scientist Prize for 2026 was presented to Max Dixey, a PhD student at Queen Mary University of London, for his compelling presentation on the effects of carbon black activators. Finally, a Lifetime Achievement Award was bestowed upon Michelin’s Pascal Prost. A veteran engineer, researcher and long-time contributor to both the conference and the awards jury, Prost was celebrated by peers and colleagues for his enduring and significant impact on the tyre industry.

Matt Ross, Chairman of the awards and Editor-in-Chief of Tire Technology International, said, “As is now becoming the norm, this year’s awards were incredibly close. Continental and Michelin have picked up multiple awards and should be highly commended, but I’m also happy to see such an array of winners across the whole range of categories. The level of innovation on display across the tyre sector is staggering, and I hope that this year’s awards have captured even a hint of the groundbreaking work taking place to move this industry forward.”

On Frost’s achievement, Ross said, “For as long as I have worked on Tire Technology International and these awards, Pascal has been a valued contributor, a hugely appreciated advisor – and a wonderful sounding board. I would like to join with his peers and friends from across the industry in celebrating his phenomenal contribution to the tyre business.”

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MRF has announced a significant move to expand its manufacturing footprint in southern India. The company revealed that it has signed a non-binding memorandum of understanding (MOU) with the Tamil Nadu Government, facilitated through the state’s nodal investment promotion agency, Guidance. This preliminary agreement outlines the company’s intent to establish a greenfield manufacturing unit dedicated to the production of automotive tyres and related ancillary products. The proposed facility is planned for location within the SIPCOT Industrial Park situated in the Sivaganga District of Tamil Nadu.

As the agreement is currently non-binding, its progression to a final commitment is contingent upon several conditions. These include the Tamil Nadu government’s sanction of a bespoke incentive package, the provision of necessary infrastructure, the allotment of land and the securing of all requisite statutory approvals in accordance with applicable state laws.

According to the official statement released by MRF, the project, upon receiving all clearances and moving forward, envisions a substantial capital outlay. The estimated investment for this venture is projected to be approximately INR 53 billion, with the capital expenditure to be phased over a 12-year period. Beyond the financial injection into the region’s economy, the initiative is also anticipated to be a major source of employment, with expectations of creating direct job opportunities for around 1,000 individuals.

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The second Sustainable Development (ESG) Industrial Ecosystem Innovation Competition for Chinese and Foreign Enterprises in Shanghai’s Pudong New Area recently concluded, with Sailun Group emerging as a distinguished honouree. Recognised for its collaborative ESG efforts with Vale, a global leader in metal and mining, Sailun received the prestigious ‘Innovative Model’ award, standing out as the sole tire company to achieve this recognition.

Organised jointly by the Shanghai Pudong Foreign-Invested Enterprises Association and the Shanghai Pudong Domestic-Funded Enterprises Association, the competition welcomed participation from companies registered and operating in the area, along with their partners. Invited by Vale Metals (Shanghai), Sailun took an active role by meticulously organising and presenting its innovative achievements in sustainable development. Through a structured application process highlighting solid practices and creative excellence, the company successfully secured the award.

Vale, one of the world’s foremost iron ore producers, maintains a longstanding strategic partnership with Sailun. Driven by a mutual dedication to sustainable supply chains, the two organisations have intensified collaboration, particularly in mining tyre supply. By integrating Sailun’s low-carbon tyre technologies, they inject environmental vitality into operations while enabling Vale to achieve refined efficiency through cutting-edge solutions. Their partnership exemplifies a synergistic model that harmonises efficiency, safety and low-carbon practices, serving as a standout case of ESG-driven empowerment across the industrial chain.

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Hankook Tire convened its annual Proactive Awards ceremony on 3 March 2026 at the Hankook Technodome, the company’s advanced research and development centre in Daejeon’s Yuseong District. This marks the 19th iteration of a programme that began in 2007, designed to acknowledge teams and personnel across its global operations for exceptional performance driven by innovative thinking and a willingness to take bold steps. The initiative stands as a key vehicle for embedding the Proactive Culture, a management philosophy championed by Hyunbum Cho, Chairman of Hankook & Company Group, throughout the organisation.

Around 100 people attended the gathering, including awardees from overseas and their families, alongside executives from the headquarters. The programme distributed accolades in four distinct classifications: Leadership, Performance, Challenge and Innovation. Ten groups and individuals, judged to have demonstrated the highest distinction in their respective fields, received trophies and monetary prizes reaching as much as KRW 20 million (approximately USD 13,568).

Within the Leadership category, honour was bestowed upon those who guided meaningful organisational transformation through adept communication and decisive action. Recognised here were Bonbae Koo, who heads the Gyeonggi Central PC/LT Team within the domestic sales division; Deokhee Ryu, leading the Material Machinery Team under Safety & Production Technology; Jiyoung Kim, who manages a manufacturing sub-team at the Keumsan Plant and Yue Peng, a line leader at the Chongqing Plant in China.

The Performance category, celebrating entities that have bolstered commercial competitiveness through remarkable achievements, saw awards presented to Manufacturing Team 2 at the Indonesian facility and the Romanian subsidiary representing European operations. Changmo Kang, a senior manager engaged in a real estate development project, received the Challenge honour for demonstrating significant results through an enterprising and bold approach.

Finally, the Innovation category recognised efforts producing substantial outcomes through transformative initiatives, particularly those involving digital advancements and practical, site-driven enhancements. Honourees included Nayoung Jeon, a manager within the Quality Digital Innovation Task Project; the Qingfeng Quality Control Circle from Manufacturing Team 3 at the Jiaxing Plant in China and the Oil Quality Control Circle, part of the DP PCR1 Sub-Team at the Daejeon Plant.

Through the consistent application of its foundational Proactive Culture, Hankook Tire continues to foster an environment where all employees are encouraged to evolve into proactive leaders capable of shaping the future of mobility. The company actively promotes open, horizontal communication to unlock individual creativity while simultaneously using the Proactive Awards to stimulate a healthy competitive spirit, thereby motivating both personal advancement and wider organisational progress.

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