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**Financial Highlights:** GRP Limited reported revenue of ₹2,586 Mn for H1 FY25, reflecting a solid 20% year-on-year growth. EBITDA also grew by 26% to ₹233 Mn, driven by increased domestic reclaim rubber demand and improved pricing strategies, despite rising raw material costs. Q2 FY25 revenue reached ₹1,319 Mn, a 15% increase from Q2 FY24, although margins were impacted by higher costs.
**Strategic Initiatives and Growth Drivers:** The company is pursuing a strategic capital expenditure plan of up to ₹150 crore, funded through term loans and potential equity issuance, focusing on technology upgrades for lower CO2 emissions and expanding its capabilities in crumb rubber production as part of sustainable practices.
**Business Developments:** GRP has secured a term loan of up to €15 million from a French development institution for project funding. The domestic reclaim rubber revenue showed a notable 10% increase in Q2 FY25, supported by higher volumes and pricing improvements.
**Market Position and Competitive Advantage:** With a strong presence in over 55 countries and substantial domestic market share, GRP is well-positioned in the recycling sector. Increasing rubber prices and strong demand for sustainable materials bolster its competitive advantage.
**Investor Implications:** Investors should watch closely as GRP enhances its operational capabilities and focuses on sustainability, potentially translating to long-term growth in profitability and shareholder value amidst challenging market conditions.