GRP Share Price

Auto Tyres & Rubber Products company GRP announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Total Income: Rs 1,606 million compared to Rs 1,381 million during Q4FY24, change 16%. EBITDA: Rs 331 million compared to Rs 229 million during Q4FY24, change 45%. EBITDA margin: 20.6% for Q4FY25. PAT: Rs 194 million compared to Rs 117 million during Q4FY24, change 45%. PAT margin: 12.1% for Q4FY25. FY25 Financial Highlights: Total Income: Rs 5,518 million compared to Rs 4,630 million during FY24, change 19%. EBITDA: Rs 694 million compared to Rs 523 million during FY24, change 33%. EBITDA margin: 12.6% for FY25. PAT: Rs 307 million compared to Rs 226 million during FY24, change 36%. PAT margin: 5.6% for FY25. Harsh Gandhi, Managing Director for GRP said: “We are pleased to report that our total income for FY25 stood at Rs 5,518 million, marking a 19% YoY growth, primarily driven by an 11% increase in volumes. This income includes Rs 220 million of EPR credit sale and an accrual of Rs 214 million of EPR revenue on account of improved stability in the EPR regime, consistent demand for credits, and the emergence of a stable market price. As a result, EBITDA margins expanded by 128 basis points, resulting in an EBITDA of Rs 694 million. From a macroeconomic standpoint, India's reclaim rubber (RR) consumption rose 8% YoY in CY24, exceeding the 3% growth seen in overall rubber consumption. Globally, during Q4FY25, the Passenger car/Light truck original equipment (OE) segment saw a 1% decline in demand, while replacement tire (RT) demand grew 4%. In the truck and bus (T&B;) segment, OE demand—excluding China—contracted by 6% due to weaker markets in Europe and North America, while RT demand remained flat. Reclaim rubber exports from India increased by 10% during FY25, and GRP maintained its export market share in line with industry growth. On a standalone basis, operating margins in the reclaim business were impacted by higher raw material costs, particularly for synthetic reclaim rubber, along with an unfavorable product and geographic mix. Employee expenses included ESOP-related charges and variable pay provisions recognized during the year. In the Non-RR segment, revenue growth was supported by a 14% increase in volumes, led by a 23% volume rise in Engineering Plastics. However, the Polymer Composite and Custom Die Forms businesses, which are primarily US-focused, remained flat due to geopolitical uncertainties. Our new venture under GCSL has made progress, having secured approvals from major players in the Paint, Lube, and FMCG sectors. We anticipate a further uptick in demand with the enforcement of EPR regulations for plastics starting April 1, 2025. Under our previously announced strategic capex plan of Rs 250 crore, documentation for the line of credit from the French development finance institution, Proparco, has been completed and partial disbursements were received during Q4 FY25. Additionally, shareholders approved raising up to Rs 150 crore via equity or eligible securities through a Qualified Institutional Placement (QIP). As of date, approximately Rs 49 crore has been invested in the new project. The crumb rubber unit of our integrated facility commenced operations in Q4FY25, and the first line of the continuous pyrolysis unit is set to begin operations in Q1FY26.” Result PDF

• Trendlyne
• 1 year ago