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.

Comments (0)

ADD COMMENT

Link Copied!

Bridgestone India has launched Project PRAVAAH, a new environmental initiative aimed at addressing severe water scarcity and ecological decline in the Dhar district of Madhya Pradesh. The programme, executed in partnership with the Society for Agriculture and Environmental Sustainability, targets the restoration of three traditional water bodies situated within a catchment zone of approximately 140 acres.

The region has historically suffered from critical groundwater depletion, with extraction rates reaching or exceeding the annual recharge capacity. This unsustainable usage has caused water tables to plummet to depths of 10 to 20 metres below ground level, particularly during the dry pre-monsoon period, severely impacting both domestic drinking water supplies and agricultural irrigation.

Moving beyond simple water conservation, Project PRAVAAH employs nature-based solutions and active community engagement to revive local ecosystems. The effort creates new livelihood opportunities for marginalised women and complements Bridgestone’s broader environmental portfolio, which already includes 9.5 acres of biodiversity parks and community gardens designed to promote conservation awareness.

The restoration project is projected to recharge up to 150,000 metric tonnes of groundwater, ensuring more reliable water access for nearby households, livestock and farms. By revitalising ponds as living ecosystems, the initiative aims to foster biodiversity, bolster community resilience against climate variability and reaffirm the company’s dedication to long-term societal and environmental well-being.

Sudhir Kulkarni, Executive Director – HR, Admin & CSR, said, “Care for the environment and the communities that it serves are core to Bridgestone’s philosophy. Project PRAVAAH aims at tackling the acute water shortage faced by communities in Dhar. With Project PRAVAAH, we are turning these ponds back into living ecosystems that will benefit these communities.”

Comments (0)

ADD COMMENT

Link Copied!

Pyrum Innovations AG has officially entered into a binding plant purchase agreement with its Czech-based joint venture, SUAS reTire s.r.o., marking a watershed moment for the German technology firm. The agreement, covering a thermolysis system for the planned Sokolov recycling hub, constitutes Pyrum’s inaugural external equipment sale, a transaction that significantly propels its commercial footprint beyond domestic operations.

Financial groundwork for the Czech project has been firmly secured, as the joint venture concurrently closed loan arrangements with a local banking institution. This development rendered the venture fully capitalised, prompting SUAS reTire to place an irrevocable order for Pyrum’s core technology, which encompasses three reactor units and auxiliary process systems. As the primary technology partner, Pyrum will assume responsibility for harmonising all ancillary site equipment with the master control architecture.

The corporate structure underpinning the initiative sees Pyrum owning 49 percent of SUAS reTire, while the remaining 51 percent is held by SUAS Ecology s.r.o., a partnership forged in the preceding year. The JV is exclusively mandated to oversee the design, construction and subsequent operation of the advanced tyre recycling facility in the western Czech city.

Ground preparation at the industrial zone has already commenced, and the impending down payments will unlock procurement of long-lead components to uphold the project timeline. Once operational, the three-reactor train is designed to process upwards of 22,000 tonnes of scrap tyres per annum. The location’s inherent logistical edge derives from the adjacent SUAS power plant, which will permit direct conversion of pyrolytic off-gas into electricity, circumventing heavy auxiliary capital outlays. The plant is slated to begin production by the spring of 2028.

Pascal Klein, CEO, Pyrum Innovations AG, said, “By signing our first external plant purchase agreement, we have reached a significant milestone in Pyrum’s development. This achievement is the result of a long and intensive journey during which, together with our partners, we established key technical, financial and organisational foundations. We are therefore all the more pleased to have now signed our first plant purchase agreement for an external facility, which we will build together with our partner SUAS. The secured financing underlines our partners’ confidence in our technology and provides an excellent foundation for the successful implementation of the project in the Czech Republic.”

Comments (0)

ADD COMMENT

Link Copied!

Kraton Corporation, a global producer of speciality polymers and bio-based chemicals derived from pine wood pulping byproducts, has secured its sixth consecutive EcoVadis Platinum rating for sustainability management. The firm achieved a record score of 90 out of 100, surpassing its own previous high of 88 from 2024 and improving markedly from the 86 posted in 2025.

This latest recognition carries added weight given that EcoVadis benchmarks performance relative to sector peers. The organisation evaluates over 150,000 companies globally, offering sustainability intelligence and improvement frameworks designed to foster responsible operations and ethical supply chains. Kraton’s sustained top-tier placement underscores its ongoing commitment to environmental and social governance standards within the speciality chemicals industry.

Rogier Roelen, Chief Sustainability Officer and General Counsel, Kraton, said, “While Platinum recognition has become familiar to many of our stakeholders, it should never be taken for granted. EcoVadis continuously raises expectations, and our peers continue to strengthen their sustainability programmes. Maintaining Platinum status for six consecutive years reflects the dedication of employees across our global organisation and the rigorous processes we have established to continuously advance our sustainability management practices.”

Sangwoo Ryu, Chief Executive Officer, Kraton, said, “EcoVadis serves as an important benchmark that helps us keep our sustainability management practices current, effective and aligned with evolving stakeholder expectations. This recognition reflects our commitment to building a more sustainable business and delivering long-term value for our customers, employees, investors and communities.”

Comments (0)

ADD COMMENT

Link Copied!

Hankook Tire emerged as a standout performer at the Red Dot Award 2026, securing six accolades in the Design Concept category. The South Korean manufacturer captured two Best of the Best honours alongside four Winner titles, underscoring its prowess in forward-thinking mobility design. This competition, recognised among the three premier design awards globally, evaluates concepts based on innovative potential at the prototype stage.

Among the top honours, the i-Flex Gen 2 received a Best of the Best award for its evolution as a next-generation airless tyre tailored for electric and autonomous vehicles. Building upon research initiated in 2015, this concept introduces a groundbreaking circumferential spoke structure that elevates visual design while reducing noise and enhancing stability. The second Best of the Best winner, Medi Buddy, emerged from collaboration with the Korea Institute of Design Promotion, integrating autonomous driving and AI into a smart intravenous system to alleviate anxiety for young patients.

The four Winner awards recognised the Bladder Upcycling Series, Concept S targeting 100 percent sustainable materials by 2050, the omnidirectional WheelBot2 and Bloom, an intelligent urban canopy. The full collection is slated for display at a special exhibition in Singapore. Hankook Tire, which in 2015 became the first Korean company to receive the Red Dot Luminary honour, later secured the iF Gold Award and an IDEA Bronze, completing a sweep of the top three design accolades.

Through continuous innovation and focus on sustainable mobility, the company continues solidifying its reputation as an industry leader committed to redefining transportation's future. The achievement reaffirms the company's global competitiveness, driven by commitment to sustainability and future-ready technologies.

Comments (0)

ADD COMMENT

Link Copied!