GRP Limited — PPTs, 13-11-2025: Investor Presentation

Here's a concise, retail-friendly summary:

1. **Business Performance:** GRP's Q2 FY26 total income grew 1% YoY to Rs 133.1 Cr, with EBITDA up 13% to Rs 11.4 Cr. However, Profit After Tax (PAT) declined 22% to Rs 2 Cr, impacted by macro headwinds, US tariffs, and a notional forex loss. Domestic reclaim rubber revenue grew 20% YoY, but non-reclaim segments saw softer demand. The Polymer Composite business in the US is being discontinued due to unviability.

2. **Growth Drivers or Strategy:** GRP plans a strategic CAPEX of up to Rs 250 Cr over three years, investing in new, greener reclaim rubber technology, expanding crumb rubber, and plastic recycling. The company aims to capitalize on India’s Extended Producer Responsibility (EPR) guidelines for both tyres and plastic packaging.

3. **Recent Developments:** GRP has commissioned its continuous pyrolysis facility in Solapur, with volumes expected to ramp up. The commissioning of Recovered Carbon Black (rCB) in Q4 is anticipated to unlock significant growth opportunities.

4. **Key Financial Metrics:** For Q2 FY26: Revenue Rs 133.1 Cr (+1% YoY), EBITDA Rs 11.4 Cr (+13% YoY), PAT Rs 2 Cr (-22% YoY). For H1 FY26: Revenue Rs 257.8 Cr (flat YoY), EBITDA Rs 22.2 Cr (-4% YoY), PAT Rs 3.7 Cr (-46% YoY), partly due to a Rs 2 Cr notional forex loss.

5. **Management Commentary / Outlook:** Management anticipates a gradual recovery in volumes in upcoming quarters, which should support margin improvement. They are reallocating resources from unviable segments towards higher-growth and more sustainable areas.