Investor presentation for the financial results for the financial year ended 31st March, 2026
GRPLTD · price
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GRP Limited reported a challenging FY26 with total income of Rs. 5,380 Mn (down 3% YoY) and EBITDA of Rs. 429 Mn (down 38% YoY), impacted by US tariff disruptions causing ~33% drop in reclaim revenues from key customers and ~44% margin impact. PAT declined sharply to Rs. 46 Mn from Rs. 307 Mn in FY25. Gross margins contracted to 49% from 54%, while EBITDA margins fell to 8% from 13%. The new Pyrova Energy (pyrolysis) business incurred Rs. 85 Mn PAT loss during commercialization phase. Management noted raw material costs rose ~43% in select reclaim rubber grades. However, domestic reclaim rubber outperformed broader industry trends. The company is scaling up crumb rubber and pyrolysis operations, commissioning India's largest single-line continuous reactor at 15KTPA, with full capacity utilization and rCB production expected from Q3 FY27.
FY26 results show significant profit decline due to US tariffs and new business losses, but the company is positioned for recovery as Pyrova operations stabilize and rCB production commences in FY27. Capital expansion plans and margin improvement trajectory remain key watchpoints for shareholders.