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 German Rubber Industry Association (wdk) is advocating for the creation of a dedicated ‘Industrial SMEs’ parliamentary circle. This proposal responds to the significant challenges faced by medium-sized industrial companies, which the association believes are frequently misjudged by political decision-makers. wdk President Michael Klein emphasised that a high-performance industrial middle tier exists in Germany, positioned between major corporations and small artisanal businesses. He argues that the critical role of these firms deserves greater recognition within parliamentary proceedings, and the proposed cross-party group would be an effective measure to achieve this.

The German rubber industry itself serves as a prime example of this vital sector. Its companies are often ‘hidden champions’, leading the global market in specialised niches and supplying indispensable products that underpin diverse areas of the economy. Despite this importance, medium-sized industrial enterprises consistently fall through the cracks of policy. Legislators in both Germany and Europe often demonstrate a lack of awareness regarding the specific capacities and limitations of these businesses, leading to disproportionate bureaucratic burdens.

A dedicated parliamentary circle would establish a direct channel for dialogue, allowing committed policymakers to engage with company representatives. This forum would provide valuable, ground-level insights and act as an essential political corrective. The wdk contends that such an initiative would not only provide much-needed support to the numerous medium-sized industries but would also strengthen the national economy as a whole.

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In response to significant economic pressures within the chemical industry, WACKER has initiated a comprehensive efficiency programme named PACE. The project, launched in October, is designed to secure substantial and permanent annual cost savings exceeding EUR 300 million. A primary focus will be on optimising fixed production costs and administrative structures.

To achieve this financial target, the company anticipates a reduction of more than 1,500 positions globally, with the majority of job cuts affecting its German sites. This workforce adjustment is expected to account for approximately half of the total savings. The company, which had previously forecast a net loss for 2025, intends to fully implement all PACE measures by the end of 2027. This strategic move aims to strengthen WACKER's operational resilience amid a challenging business climate.

Christian Hartel, President and CEO, WACKER, said, "We are currently working on measures to achieve our cost-saving targets. The aim is to reduce our costs to a competitive level through savings. This will put WACKER back on the road to success." Emphasising the need for competitive framework conditions, he added, "Particularly in Germany, the excessively high energy prices and bureaucratic obstacles continue to act as a central brake on the successful development of the chemical industry."

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Bridgestone India, a subsidiary of the Bridgestone Group, has announced the opening of its latest Bridgestone Select Store, Arora Wheel and Car Accessories, in Firozpur, Punjab.

The store was inaugurated by Rajiv Sharma, Executive Director – Integrated Consumer Business, Bridgestone India.

The Bridgestone Select stores represent the company’s retail format that delivers a comprehensive ownership experience. These outlets provide guidance, diagnostics, and infrastructure, ensuring safety, performance and driving confidence.

Rajiv Sharma, Executive Director – Integrated Consumer Business, Bridgestone India, said, “Punjab is a key market for Bridgestone, and the opening of our new Select Store in Firozpur reflects our focus on being closer to customers, through modern, high-quality retail touchpoints. At Bridgestone, we are committed to providing not just superior products but also an enhanced customer experience that combines premium products & services along with Bridgestone’s promise of safety, and trust. The Select Store format allows us to deliver the best of Bridgestone’s global expertise with a local, customer-first approach”

Arora Wheels is making available Bridgestone’s latest offerings: Turanza 6i and Dueler All-Terrain A/T002. The Turanza 6i is engineered with ENLITEN technology and delivers a driving experience. Compatible with both internal combustion engine (ICE) and electric vehicles (EVs), this tyre is EV-ready, offering efficiency, comfort and durability for mobility.

The Dueler All-terrain A/T002 is built for adventure and is a said to be a preferred choice among off-road enthusiasts. Its tread design and on- and off-road capabilities make it the choice for drivers seeking performance without compromising control or safety.

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Michelin, a tyre technology company, has expanded its network in India with the inauguration of three new Michelin Tyres & Services (MTS) stores in Tamil Nadu.

Two stores were launched in Coimbatore: one with Covai Tyres in Sundarapuram, and another with Carzone in Goundermills. The third facility was inaugurated with Carworld Automotive in Tirupur.

Each new dealership offers Michelin’s complete range of products, along with advanced diagnostic tools and high precision equipment for alignment, balancing and car services. The new facilities were inaugurated by Prashant Sharma, National Sales Director at Michelin India.

Shantanu Deshpande, Managing Director, Michelin India, said: “The opening of three new Michelin Tyres & Services Stores in Tamil Nadu reflects our continued investment in expanding our retail network and strengthening consumer access to our products and services. These new touchpoints align with our broader strategy as we prepare to introduce our Made-in-India passenger car tyre range, ensuring we are well positioned to serve the evolving needs of our consumers.”

Tamil Nadu is a key market for Michelin, supported by the company’s production facility in Chennai. Michelin stated it is focused on delivering mobility experiences that combine safety, durability, and performance through collaboration with partners like Covai Tyres, Carzone and Carworld Automotive.

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