GRP Ltd

GRP Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

GRP Ltd

₹ 2,857 -1.57%
21 May 2:04 p.m.
grrpl.com; www.grpweb.com BSE: 509152 NSE: GRPLTD
About

GRP Ltd, established in 1974, is a manufacturer of reclaimed rubber from used tyres, upscaled polyamide from nylon waste and engineered products die-cut from end-of- life tyres. [1]

Key Points

Business Verticals
1. Reclaim Rubber[1][2]
GRP’s core business, contributing ~89% of revenue, involves recycling end-of-life tyres, tubes, and rubber waste into reclaim rubber. This serves as a sustainable substitute for virgin rubber in industries like tyre manufacturing, conveyor belts, automotive components, and industrial rubber products. With a strong presence in the global market, **GRP supplies reclaim rubber to 8 of the top 10 tyre manufacturers worldwide. **

Website BSE NSE
  • Market Cap ₹ 1,524 Cr.
  • Current Price ₹ 2,857
  • High / Low ₹ 4,840 / 1,967
  • Stock P/E 40.2
  • Book Value ₹ 375
  • Dividend Yield 0.31 %
  • ROCE 19.4 %
  • ROE 20.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 66.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 21.2%

Cons

  • Stock is trading at 7.63 times its book value
  • The company has delivered a poor sales growth of 8.91% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Plantation & Plantation Products Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
111 124 117 114 95 99 114 110 139 123 127 129 156
103 118 111 108 89 92 103 99 116 109 116 116 122
Operating Profit 8 6 6 7 6 7 11 11 23 13 11 13 33
OPM % 7% 5% 5% 6% 6% 7% 10% 10% 16% 11% 9% 10% 21%
0 0 5 2 -2 1 1 1 -2 1 1 1 1
Interest 1 2 1 2 2 2 2 2 2 2 2 3 3
Depreciation 3 3 3 3 3 3 3 3 3 4 4 4 4
Profit before tax 4 1 7 4 -0 3 7 6 15 9 6 8 27
Tax % 43% 20% 22% 2% -94% 21% 29% 24% 22% 33% 22% 23% 22%
2 1 5 4 -0 2 5 5 12 6 5 6 21
EPS in Rs 4.38 2.08 9.81 7.45 -0.04 3.98 9.34 8.72 22.70 11.26 8.93 10.91 39.96
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
309 339 315 303 299 357 349 280 388 451 462 534
273 317 286 277 280 332 330 263 364 426 411 464
Operating Profit 36 22 29 27 19 25 19 17 24 25 51 70
OPM % 12% 7% 9% 9% 6% 7% 5% 6% 6% 6% 11% 13%
1 8 0 3 1 1 1 2 0 5 -0 4
Interest 7 5 4 4 4 5 8 5 4 6 8 10
Depreciation 12 15 14 14 13 13 13 13 12 12 12 15
Profit before tax 18 11 11 12 2 8 -2 1 7 12 31 50
Tax % 39% 20% 24% 31% 60% 23% -233% -141% 22% 12% 24% 24%
11 9 8 8 1 6 3 2 6 10 24 38
EPS in Rs 20.43 16.74 15.13 15.64 1.85 12.04 5.66 3.09 10.91 19.30 44.74 70.99
Dividend Payout % 20% 17% 17% 16% 17% 17% 24% 20% 21% 22% 21% 20%
Compounded Sales Growth
10 Years: 5%
5 Years: 9%
3 Years: 11%
TTM: 16%
Compounded Profit Growth
10 Years: 17%
5 Years: 66%
3 Years: 81%
TTM: 48%
Stock Price CAGR
10 Years: 27%
5 Years: 79%
3 Years: 103%
1 Year: 26%
Return on Equity
10 Years: 8%
5 Years: 11%
3 Years: 15%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 1 1 1 1 1 1 1 1 1 1 1 5
Reserves 104 111 118 126 126 132 130 134 139 146 167 195
85 67 68 65 56 64 86 72 100 85 110 137
52 53 49 50 48 52 57 45 60 50 63 73
Total Liabilities 242 233 236 243 231 250 273 252 300 283 341 410
136 129 130 130 123 119 120 108 120 101 147 171
CWIP 4 6 2 2 2 1 2 2 0 5 1 27
Investments 0 1 1 1 1 8 8 8 23 21 7 9
102 97 103 109 104 122 143 134 157 155 185 204
Total Assets 242 233 236 243 231 250 273 252 300 283 341 410

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
28 32 18 22 23 9 8 25 2 26 29 48
-14 -9 -12 -17 -7 -10 -12 1 -38 -3 -44 -59
-14 -24 -5 -7 -15 4 8 -20 23 -23 15 13
Net Cash Flow 1 -1 0 -2 1 3 4 5 -13 0 -0 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 59 54 63 58 62 66 68 83 80 58 84 70
Inventory Days 84 62 81 118 88 73 98 116 106 79 83 75
Days Payable 47 42 45 41 41 46 52 45 53 28 44 43
Cash Conversion Cycle 95 74 99 135 110 93 114 153 134 109 123 102
Working Capital Days 60 49 64 83 80 81 91 116 102 88 103 96
ROCE % 14% 8% 8% 8% 4% 7% 3% 2% 6% 7% 16% 19%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
41.49% 41.51% 41.26% 40.61% 40.51% 40.41% 40.36% 40.36% 40.30% 40.29% 40.18% 40.06%
0.01% 0.12% 0.01% 0.13% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.01% 0.05%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.38% 0.38%
58.50% 58.37% 58.71% 59.24% 59.50% 59.58% 59.64% 59.64% 59.69% 59.66% 59.44% 59.53%
No. of Shareholders 3,1223,0062,8023,0913,0742,9972,9453,1513,8949,0978,4948,237

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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