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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Nova Motorsport has secured a multi-year agreement to become the Official Tyre Partner of the PartsForCars.ie Irish Rallycross Championship (IRX). The deal, struck with championship promoter Mondello Park, also brings in leading Irish motorsport supplier Euro M-Sport as a third partner. Under the arrangement, Nova Motorsport will serve as the exclusive tyre supplier to three headline classes from Rounds 3 and 4 of the 2026/27 season onward.

The affected categories are Supercar, Super Buggies and FIA Cross Car. Euro M-Sport will be present at every IRX event to supply and fit Nova Motorsport tyres for all competitors in these classes, ensuring consistent product availability and expert trackside assistance throughout the campaign. The collaboration links Ireland’s foremost rallycross promoter with a tyre brand whose lineage is deeply rooted in the discipline.

Nova Motorsport manufactures the former Avon Motorsport range under licence and owns the assets and intellectual property previously employed to produce Cooper Tires competition products. This gives the brand direct continuity with tyres that have long dominated rallycross, from national events to the FIA World Rallycross Championship. In the Supercar class, IRX competitors will use the Nova ACB11 in 225/640-17 fitment, with the Nova RALLYCROSS WET 210/635R17 available for wet conditions.

The ACB11 stands as the most successful rallycross tyre ever produced, with 10 FIA World Rallycross Championship titles, over 20 consecutive European crowns and numerous national honours. Relaunched in 2024, it is manufactured in Portugal using the original moulds, compound and construction, allowing IRX drivers to race on the same specification that has defined the sport’s elite level. Super Buggies and FIA Cross Car will run the all-new Nova ZZXC, revealed in August 2026 and developed specifically for Cross Car competition.

The ZZXC is Nova Motorsport’s first clean-sheet design. Its asymmetric rear tread fits either side of the car, reducing spare requirements, while a larger-block outer shoulder boosts durability and a more open inner pattern generates traction. Tyre pressure adjustments alter the rear profile for dry, wet or muddy conditions. Benchmark testing with three-time FIA European Cross Car Champion David Méat confirmed strong start-line traction, lateral grip and durability. The partnership also includes branding on every car in the exclusive categories, winner’s caps, Mondello Park signage, digital promotion and website features.

Roddy Greene, Managing Director, Mondello Park, said, “We are excited to have Nova Motorsport as our Tyre Partner as we enter a new era in the promotion of the Irish Rallycross Championship. Although Nova Motorsport is a relatively new company, it comes with a huge heritage, particularly in rallycross. Rallycross demands specialist tyres, so bringing on board a company as synonymous with rallycross as Nova Motorsport was an easy decision. We look forward to working with Nova as we continue to promote rallycross within Irish Motorsport.”

Matthew Vincent, Senior Product Category Manager, Nova Motorsport, said, “Nova Motorsport is proud to become Official Tyre Partner of the Irish Rallycross Championship. Irish rallycross has a long history and a passionate following, and under Mondello Park’s promotion, the IRX is a championship with real momentum. This agreement reinforces our commitment to rallycross at every level of the sport and gives us the ideal platform to bring both the ACB11 and the all-new ZZXC to a new group of competitors. The ACB11 needs little introduction. It is the most successful rallycross tyre ever made, and IRX Supercar drivers will race on exactly the construction and compound that has won world championships. The ZZXC is the first product we have created from a clean sheet, developed specifically for Cross Car, so it is fitting that the Super Buggies and FIA Cross Car classes will be among the first to compete on it. With Euro M-Sport delivering trackside supply and fitting at every round, competitors can be confident of consistent product and the highest level of support throughout the season.”

Mick McCullagh, Director, Euro M-Sport, said, “Rallycross, with the help of Mondello Park, has gone from strength to strength and is now one of the most exciting spectacles in Irish Motorsport. Euro M-Sport has a growing professional track record across multi-discipline motorsports, such as BSB, WEC, Motorsport Ireland Stages Events and contractual work with OEM Manufacturers. We are now delighted to partner with Nova Motorsport and the IRX to provide a world-class tyre and fitting service and help continue the growth of Rallycross in Ireland.”

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Hankook Tire has been named a Finalist in two categories at the 2026 International Design Excellence Awards, presented by the Industrial Designers Society of America. The IDEA programme ranks among the world’s three leading design honours, alongside Germany’s Red Dot and iF awards, with entrants judged across more than 20 categories on factors such as innovation, user experience and social responsibility.

One finalist entry came in the Social Impact Design category for re:move, an upcycling initiative that converts tyre-curing bladders into new resources. Developed with Seoul National University’s DISCO Lab, the Bladder Upcycling Series includes furniture, bricks and lifestyle products, while a Kinetic Wall built from those bricks expresses the company’s sustainability vision. The project has now collected four major international design honours this year, adding the IDEA recognition to a Red Dot Winner title, an A’ Design Gold award and a Green Good Design award.

The second finalist placement, in Concepts and Speculative Design, went to WheelBot2, a modular robotic wheel system. Using built-in and crab-walk drive motors, it achieves three-axis movement and full 360-degree omnidirectional motion, allowing precise control in tight spaces and along complicated routes. Judges praised the concept for expanding mobility possibilities in an era of smart cities and autonomous driving.

Hankook Tire’s latest showing follows success across all three of the world’s top design competitions, underscoring its global design credentials. The company has continued to sharpen that competitiveness by pushing innovation further into future mobility and sustainable design while reinforcing the premium positioning of its unified global brand, Hankook.

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Fornnax Technology has received the Special Export Award – Rubber Machinery for 2025–26 from the All-India Rubber Industries Association (AIRIA). The recognition stems from the company recording the highest export volume of tyre recycling plants to Europe, marking a significant achievement in its international trade performance.

For more than 10 years, Fornnax has driven innovation within India’s tyre recycling sector. The firm now holds a 90 percent share of the domestic market, while exports constitute 30 percent of its operations, serving regions such as Europe, Australia and the GCC. Its integrated, high-capacity recycling lines and shredding systems support a more circular ecosystem.

The company’s approach centres on complete infrastructure rather than standalone equipment, combining multiple shredding and size-reduction stages to boost throughput and reliability. Fornnax aims to expand its global footprint and advance technologies suited to rising international recycling demands.

Jignesh Kundaria, Founder and Director, Fornnax, said, “This honour from AIRIA is a reflection of an incredible journey we have undertaken over the years. When we started Fornnax, there was no established recycling industry in India to follow. We chose to build for the future instead. Today, when you see India’s tyre recycling sector, it has already transformed into a dynamic, high-growth industry, and we are proud to have played our part in building it.”

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Apollo Tyres Ltd has expanded its industrial tyre portfolio with the introduction of the AWE 733 flotation tyre, engineered for mobile excavators working on soft and sensitive ground. Developed in Europe, the product reflects the company’s ‘Engineered for Tough Conditions’ approach, combining minimal surface compaction with high traction and durability.

The tyre, offered in size 600/50-22.5, targets construction, infrastructure and utility duties requiring low ground pressure and dependable off-road manoeuvrability. Its wide flotation tread incorporates rounded lugs and shoulders to reduce ground disturbance while preserving grip.

A steel-belted bias construction supports stability during lifting and digging, and a reinforced carcass with steel breaker guards against cuts and punctures. High flotation and a durable tread compound extend service life and cut downtime. Global sales begin in the fourth quarter of 2026.

Bernhard Schmolz, Division Head OHT Europe, said, “The AWE 733 flotation tyre is an important addition to our proven excavator portfolio. It combines flotation, traction and durability in a purpose-built solution, enabling operators to work productively in challenging conditions while reducing ground impact. It is another example of Apollo Tyres’ commitment to providing reliable and application-focused solutions for industrial equipment operators.”

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