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.
Tegeta Green Planet And Shine Energy Bring Environmental Education To Tbilisi School
- By TT News
- October 29, 2026
Tegeta Green Planet and Shine Energy brought an environmental education session to seventh-graders at Tbilisi Public School No. 142, aiming to deepen young people's understanding of sustainable development and environmental protection. The meeting was designed to make abstract ecological concepts tangible for early adolescents.
Led by representatives of the two organisations, the session unfolded under the theme ‘A Sustainable Future: Environment, Transport and Energy’. Presentations and discussions covered waste management, responsible resource use, environmental protection and the value of renewable energy, giving students a broad picture of how these issues interconnect.
The interactive format included team activities through which students explored the Extended Producer Responsibility (EPR) system, learning what it is for and how it contributes to environmental protection. Participants also considered how ordinary daily choices can curb pollution and conserve resources. An environmental game and a hands-on activity reinforced the lessons, helping students link environmental concerns to their own lives, and each participant received a certificate and a small gift at the close.
Operating since 2022, Tegeta Green Planet ranks among Georgia's first authorised EPR organisations, advancing a circular economy by collecting and recycling waste tyres, waste oils and used batteries while helping reduce environmental harm and meet legal obligations. Environmental education for young people remains a priority for both organisations, which run school sessions on environmental protection, resource conservation and sustainable development.
Dunlop Tyre Europe Takes Premium Partner Role At Erste Bank Open
- By TT News
- October 28, 2026
Dunlop Tyre Europe GmbH will hold Premium Partner status at the Erste Bank Open in Vienna, running 24 October to 1 November at the Wiener Stadthalle, under a three-year term from 2026 to 2028 with an extension option, and holds exclusive tyre-category rights. DUNLOP Sports separately serves as Official Ball Partner. The event lets Dunlop Tyre Europe spread the ONE DUNLOP message, as trademark rights for DUNLOP tyres across Europe, North America and Oceania now sit once more under Sumitomo Rubber Industries (SRI). A 25-square-metre stand will occupy the fan zone in the Wiener Stadthalle foyer.
The divisions have already collaborated at B2B events this year, including THE TIRE COLOGNE. At the Mondial de l'Auto in Paris, held 12 to 18 October, the DUNLOP brand joined DUNLOP Sports colleagues to display tyres, motorsport heritage and tennis, padel and squash racquets across 105 square metres. Vienna marks the first time both appear together at a sporting tournament.
Premium Partner status brings strong visibility. Television coverage includes Micro Wings, LED side banners, Close Calls and the ‘New Balls Please’ activation. Dunlop Tyre Europe also features at the ceremonial coin toss, in the tournament magazine, in the fan zone and via ‘Daily Highlights presented by Dunlop’. Hospitality packages at the Wiener Stadthalle and Marx Halle await customers and partners, with invitations to the Pro-Am tournament and official press conference.
At the DUNLOP stand, visitors can guess how many tennis balls sit inside a racing tyre, entering via iPad and a digital landing page, with newsletter sign-up optional. A set of tyres is the prize, and souvenir photos in a DUNLOP-branded frame can be downloaded via QR code. The brand and SRI trace their heritage to 1909, when Dunlop Far East was founded in Kobe. After a partner organisation held passenger car tyre rights in several markets, those rights were reacquired in 2025 and Dunlop Tyre Europe GmbH launched in early 2026, reuniting the brand under SRI. The goal is restoring DUNLOP among the world's leading, most innovative tyre makers.
Dennis Wilstermann, Marketing Manager, Dunlop Tyre Europe, said, “Through our Premium Partnership with the Erste Bank Open and with our colleagues from DUNLOP Sports serving as the tournament’s Official Ball Partner, we are appearing together at a sporting event for the first time, following successful collaborations in the B2B sector and at the Paris motor show. The dynamic environment of professional tennis and the world-class performances regularly seen on court provide the ideal stage for combining activation activities for DUNLOP Tyres and DUNLOP Sports. We work closely with DUNLOP Sports and our parent company, Sumitomo Rubber Industries in Japan, to unlock the full potential of the global ONE DUNLOP strategy.”
Indian manufacturer invests in radial tyre capacity and electric vehicle products as it seeks growth in domestic and export markets
JK Tyre and Industries is expanding production capacity and pushing into higher-value tyres as the Indian manufacturer seeks to capitalise on strong vehicle demand, the shift towards premium cars and the growth of electric mobility.
The company plans to invest in additional truck and bus radial and passenger car radial capacity, while broadening its distribution network and developing products for overseas markets. The strategy comes as a sharp increase in raw-material prices threatens to erode the benefits of rising sales.
Nearly 30 percent of JK Tyre’s passenger car tyre volumes in the first half of the financial year came from premium products with wheel sizes of 16 inches and above, Managing Director Anshuman Singhania told analysts on the company’s second-quarter earnings call. The segment has grown at an annual rate of about 20 percent over the past two to three years.
The shift towards larger tyres reflects changing consumer preferences in India’s car market, where manufacturers are increasingly catering to buyers seeking more premium vehicles. JK Tyre is seeking to capture that demand while maintaining its position in commercial vehicle and agricultural tyres.
Electric mobility and premium products
Electric mobility is another area of growth. The company said its electric vehicle tyre volumes rose by more than 24 pe cent quarter on quarter. It also highlighted its position in electric trucks and buses, and said the MG Hector Tomahawk had been launched with its Ranger HPE electric vehicle-specific tyres.
JK Tyre is investing in research and development and using artificial intelligence and machine learning in product design, manufacturing and supply-chain management. The company is also expanding its range of specialist off-the-road tyres, targeting applications where product performance and specifications are important purchasing considerations.
Expanding distribution
The push into premium products is accompanied by an effort to widen the company’s reach among customers. During the second quarter, JK Tyre added more than 250 pit shops and more than 80 dealers and distributors, almost half of the latter in rural markets. It also expanded its fleet accounts.
The replacement market, in which vehicle owners buy tyres independently of new vehicle purchases, accounted for about 60 percent of standalone revenue.
Demand remained strong across several categories. Truck and bus radial tyre volumes supplied to original equipment manufacturers increased 76 percent year on year, while passenger car radial volumes rose 14 percent. Farm tyre demand also grew, although management warned that uneven rainfall in some agricultural regions could weigh on the farming season.
JK Tyre expects demand to remain healthy in the second half of the financial year, supported by infrastructure spending, freight movement and vehicle manufacturers’ year-end purchasing. It expects high-single-digit growth in the truck and bus replacement market and mid-single-digit growth in passenger car tyres over the medium term.
Raw-material inflation
The outlook is less straightforward on costs. Raw-material prices have risen by about 30 percent over the past six months, according to management, amid supply-chain disruption and geopolitical tensions linked to the conflict in West Asia. The company expects a further increase of 4–5 per cent in its raw-material cost basket in the third quarter.
JK Tyre plans to raise selling prices by a similar amount, but acknowledged that passing on higher costs is difficult in the replacement market, where customers are sensitive to price. Price increases under contracts with vehicle manufacturers are partly linked to input-cost indices, but take time to feed through.
The company is relying on higher selling prices, a more favourable product mix and cost efficiencies to protect profitability. Its ability to do so will be tested if commodity inflation persists.
Capacity and export plans
Capacity expansion is central to the growth strategy. JK Tyre said projects worth about INR 13 billion covering truck and bus radial and passenger car radial tyres were under implementation, following the completion of projects worth INR 14 billion. Utilisation at its Indian plants was above 90 percent across key segments, leaving the company looking to add capacity to meet demand.
JK Tyre is also looking overseas for growth. The company is assessing opportunities arising from the India-UK free trade agreement and has developed products specifically for European markets. Management said it was already supplying some European markets, but did not confirm any material increase in UK orders or shipments following the trade agreement.
Exports from India rose 14 percent sequentially in the second quarter.
Mexican subsidiary recovers
Its Mexican subsidiary, JK Tornel, is meanwhile continuing a recovery programme focused on operational efficiency, quality and modernisation. Management expects sales to move towards levels comparable with the previous year in the third and fourth quarters. It also reported triple-digit growth in shipments from Mexico to the US on a quarter-on-quarter basis, against a backdrop of uncertainty over US trade policy and the review of the United States-Mexico-Canada Agreement.
Kuraray America Volunteers And Cyclists Unite For Galveston Bay Foundation's Conservation Mission
- By TT News
- October 28, 2026
Kuraray America, Inc. (KAI) returned as a sponsor of the Galveston Bay Foundation’s Bike Around the Island, with 21 cyclists completing a 43-mile ride on 17 October 2026. The event coincided with the 20th anniversary celebration of Bike Around the Bay, reinforcing KAI’s support for the Foundation’s conservation mission.
Although the ride spanned a single day, the cause continues year-round through initiatives such as the River, Lakes, Bays ’N Bayous Trash Bash and oyster reef monitoring at Sweetwater Nature Preserve. These programmes protect the Bay’s waters, restore coastal habitats and preserve regional biodiversity. KAI contributed to that mission by mobilising nine volunteers alongside participating employees, family members and friends, collectively raising more than USD 8,300 for GBF’s conservation efforts.
At the second rest stop, KAI volunteers welcomed cyclists with encouragement and a chance to reconnect before the next stretch. For cycling team captain Diana Maya, the stop became a meaningful moment of teamwork and connection, illustrating how employees and volunteers supported both the event and one another. Special recognition went to Maya and Johnny Alvarado, KAI’s volunteer lead, for coordinating this year’s participation, and the company expressed appreciation to every cyclist, volunteer, employee, family member and friend who contributed time, energy and encouragement.
The 20th anniversary marked two decades of bringing cyclists, volunteers, corporate partners and community members together for Galveston Bay. KAI congratulated the Foundation on the milestone and affirmed its commitment to community engagement and environmental stewardship, supporting efforts that protect natural ecosystems surrounding the communities where employees live and work. From cycling 43 miles to volunteering at rest stops and supporting year-round conservation, KAI’s participation reflected a shared commitment to protecting Galveston Bay for future generations.
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