Mumbai, January 28, 2025 – GRP Limited, a leading integrated polymer recycling company, has reported a 20% increase in consolidated revenue for Q3 FY25, reaching ₹1,327 million compared to ₹1,102 million in Q3 FY24. The company attributed the growth to increased reclaim rubber volumes and the scaling of its subsidiaries.
Key Financial Highlights (Q3 FY25)
- Revenue from Operations: ₹1,327 million (+20% YoY)
- EBITDA: ₹130 million (+20% YoY)
- Net Profit (PAT): ₹44 million (+2% YoY)
- EBITDA Margin: 9.8%
- Gross Profit Margin: 53.1%, down 246 bps YoY, due to higher raw material costs.
- Revenue: ₹3,912 million (+20% YoY)
- EBITDA: ₹363 million (+23% YoY)
- Net Profit: ₹113 million (+3% YoY)
Strategic Expansion and CAPEX
The company announced a ₹250 crore CAPEX plan to be executed over three years. Key highlights include:- Phase 1 Investment: ₹150 crore to be deployed by December 2025.
- Funding Sources:
- €15 million External Commercial Borrowing (ECB) from PROPARCO.
- ₹150 crore via Qualified Institutional Placement (QIP).
- Focus Areas:
- Advanced reclaim rubber technologies with reduced CO2 emissions.
- Expansion in crumb rubber and plastic recycling capabilities.
Management Commentary
Harsh Gandhi, Managing Director, GRP Limited, said:"Our Q3 FY25 results demonstrate strong progress across our business verticals. The strategic CAPEX plan reinforces our commitment to sustainability and operational excellence, ensuring long-term value creation."
Growth Drivers
- Reclaim Rubber Segment: Achieved 10% volume growth in Q3 FY25, supported by robust domestic and international demand.
- Repurposed Polyolefins Business: Gained incremental approvals from global brands, contributing to margin improvements.
- EPR Credit Sales: Generated ₹121 million year-to-date, with an estimated additional stock worth ₹180 million.