GRP Reports 20% Revenue Growth, Plans Major Expansion into Tyre Recycling
- By TT News
- February 07, 2025
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.
Apollo Tyres Launches Aspire 5 Summer Tyre With Dynamic Contour Technology
- By TT News
- January 07, 2026
Apollo Tyres Ltd has launched the new Apollo Aspire 5 summer tyre designed for performance sedans and SUVs, including electric vehicles. The next-generation model succeeds the Aspire 4G+ and is offered in 24 sizes to fit rims from 17 to 21 inches. Engineered to provide a premium driving experience at a competitive price, the tyre incorporates several key technological advances.
At its core is Apollo’s Dynamic Contour Technology, which utilises an advanced tread design and specialised compound. This includes integrated ‘diamond ridges’ that absorb road shocks to improve comfort and control. Building upon its predecessor, an evolved Synchronised Tread Pitch system effectively reduces vibrations and road noise, with some sizes achieving a top-tier noise rating.
Performance and durability are enhanced through a structure that ensures even pressure distribution during demanding manoeuvres, promoting stable handling and uniform wear. A novel low-hysteresis carbon black compound reduces heat generation and rolling resistance, contributing to both extended tread life and better fuel efficiency, the latter reflected in a favourable rolling resistance rating for select variants. Furthermore, the tyre promises strong all-weather capability, with an excellent wet grip rating available on certain sizes for confident braking.
The Aspire 5’s development was validated through rigorous global testing. The results indicate that its overall refinement and comfort meet or surpass the standards set by leading premium European tyre brands.
Daniele Lorenzetti, Chief Technology Officer, Apollo Tyres Ltd, said, “With the Aspire 5, our R&D teams focused on enhancing refinement and comfort without compromising dynamic performance. Every element of the tyre has been developed to meet the expectations of premium and executive car owners seeking both comfort and control, resulting in a tyre that combines quietness and composure with responsive handling and efficiency.”
Madison Becomes Exclusive Distributor Of Maxxis Bicycle Tyres In UK And Ireland
- By TT News
- January 07, 2026
Madison, UK’s leading distributor of bicycle parts and accessories, has solidified its relationship with global tyre manufacturer Maxxis through a new exclusive agreement. Effective from the start of 2026, Madison has become the sole distributor of Maxxis bicycle tyres across the United Kingdom and Ireland. This move expands upon a partnership that began in 2017 and signifies a deepened, long-term commitment to growing the brand’s footprint in the region.
The decision to grant exclusivity underscores a mutual belief in the potential for further market development. Maxxis, an established leader in the premium tyre sector, will benefit from Madison’s extensive experience in cultivating cycling brands within the UK market. The distributor plans to implement a cohesive strategy for retail partners, focusing on consistent pricing, coordinated marketing and strengthened in-store support.
To bolster the brand’s visibility, Madison will channel additional investment into targeted marketing campaigns, retail activations and ambassador programmes. These efforts will be supported by the company’s in-house marketing resources, which encompass digital commerce, content production, public relations and social media management. Retailers can also expect tailored support through merchandising solutions and point-of-sale materials designed to enhance consumer engagement.
Operational stability and product availability for retailers of all sizes are set to be prioritised, leveraging Madison’s established logistics network. The existing roster of UK athletes and teams representing Maxxis will continue as a core component of the broader promotional strategy, supported by dedicated content creation.
Dom Langan, CEO, Madison, said, “We are delighted to strengthen our partnership with Maxxis. An exclusive approach allows us to work with clarity and purpose, offering consistent support for retailers and ensuring that Maxxis continues to thrive in the UK and Ireland. By aligning our strategy, resources and long-term ambitions, we are confident that we can drive meaningful, sustainable growth for the brand.”
Webfleet Partners With Bia Power And ChargeBroker To Streamline EV Fleet Management
- By TT News
- January 07, 2026
Webfleet, Bridgestone’s advanced fleet management solution, has partnered with Bia Power and ChargeBroker to form a comprehensive solution for electric vehicle fleet management. This integrated system is designed to work with a company's current setup, avoiding the need for new infrastructure.
The service begins with Webfleet providing operational data to Bia Power, which uses it to create optimal charging schedules. ChargeBroker then brings together various charging networks into one simplified platform. This end-to-end process makes managing large electric vehicle fleets far more efficient by seamlessly connecting vehicle operations with depot energy management.
It specifically solves the challenges of coordinating different vendor systems, offering a faster and more cost-effective path to fleet electrification. The services are now available globally for Webfleet users.
Apollo Tyres' Chennai And Limda Plants Earn Coveted Sword of Honour
- By TT News
- January 06, 2026
Apollo Tyres has achieved a significant international distinction in workplace safety, with its Chennai and Limda (Gujarat) plants each receiving the prestigious Sword of Honour from the British Safety Council. This accolade represents one of the highest global recognitions for excellence in health and safety management. The honour was formally presented to Chief Quality and Safety Officer Yoichi Sato, alongside Chennai Unit Head C Thomasmathew and Limda Unit Head Piush Bansal.
This award follows both facilities having previously secured top-tier five-star ratings in the British Safety Council’s rigorous Occupational Health and Safety Audit. The Sword of Honour is specifically reserved for organisations that exhibit an outstanding and sustained dedication to upholding the utmost standards in employee health, safety and wellbeing. Notably, the Chennai plant received additional commendation for its achievements in Innovation and Development.
These awards highlight Apollo Tyres' proactive and systematic approach to fostering a pervasive safety-first culture across its operations. The company's efforts extend beyond mere regulatory compliance, reflecting a deep-rooted commitment to cultivating secure, healthy and sustainable working environments for all employees, contractors and stakeholders. By consistently demonstrating world-class safety management and a drive for continuous improvement, this milestone reinforces Apollo Tyres' standing as a responsible industry leader aligned with global best practices.
Yoichi Sato, Chief Quality and Safety Officer, Apollo Tyres Ltd,, said, “Receiving the Sword of Honour for both our plants is a matter of great pride for everyone at Apollo Tyres. This recognition reinforces our belief that operational excellence begins with putting people first. We remain committed to continually strengthening our health and safety practices across all our operations, guided by our ‘Safety First’ philosophy.”
Peter McGettrick, Chairman, British Safety Council, said, “On behalf of the board of trustees and staff of the British Safety Council, I would like to congratulate Apollo Tyres on achieving the highest standards of its health, safety and wellbeing management. Achieving recognition of this sort takes absolute dedication and the utmost professionalism. We are proud to support you in your achievements and delighted we can contribute to your ongoing success.”
Mike Robinson, Chief Executive, British Safety Council, said, “I would like to congratulate Apollo Tyres and its staff on this award, in tribute to their commitment to keeping their workplace safe and healthy and contributing to safeguarding the environment. All of the Sword, Globe and Shield award-winning organisations share a commitment and willingness to achieve the uppermost standards of health and safety. We thank Apollo Tyyres for contributing to achieving our vision that no one should be injured or made ill through their work.”
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