GRP Ltd

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

GRP Ltd

₹ 2,893 -4.02%
20 May - close price
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 ₹ 1,543 Cr.
  • Current Price ₹ 2,893
  • High / Low ₹ 4,840 / 1,967
  • Stock P/E 50.3
  • Book Value ₹ 359
  • Dividend Yield 0.32 %
  • ROCE 17.3 %
  • ROE 17.1 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 60.6% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 21.1%

Cons

  • Stock is trading at 8.05 times its book value
  • The company has delivered a poor sales growth of 9.56% 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

Consolidated Figures in Rs. Crores / View Standalone

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 96 99 114 110 138 126 132 132 160
103 118 111 107 90 93 103 99 115 113 122 120 127
Operating Profit 8 6 6 7 6 7 11 10 23 13 10 13 33
OPM % 7% 5% 5% 6% 6% 7% 10% 10% 16% 10% 7% 10% 20%
1 0 6 2 1 1 0 0 -2 0 0 0 0
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 8 4 2 2 7 6 15 7 4 6 26
Tax % 43% 21% 19% 2% -20% 21% 29% 25% 24% 40% 35% 27% 24%
2 1 6 4 3 2 5 4 12 4 3 4 19
EPS in Rs 4.38 2.06 11.60 7.45 5.19 3.72 8.85 8.13 22.02 8.25 4.71 8.21 36.47
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
309 339 315 304 300 357 349 280 388 451 461 550
273 317 286 278 281 332 330 263 364 426 411 482
Operating Profit 36 22 29 26 18 25 19 17 24 25 51 68
OPM % 12% 7% 9% 9% 6% 7% 5% 6% 6% 6% 11% 12%
1 8 -0 3 1 0 1 2 0 10 -1 1
Interest 7 5 4 4 4 5 8 5 5 6 7 10
Depreciation 12 15 14 14 14 13 14 13 12 13 12 16
Profit before tax 18 11 10 11 1 7 -2 1 7 15 30 43
Tax % 39% 19% 24% 35% 197% 26% -232% -127% 23% 9% 25% 28%
11 9 8 7 -1 5 3 2 6 14 23 31
EPS in Rs 20.47 16.74 14.92 13.00 -1.42 10.06 5.60 3.15 10.87 26.32 42.72 57.56
Dividend Payout % 20% 17% 17% 19% -22% 20% 25% 20% 21% 16% 22% 25%
Compounded Sales Growth
10 Years: 5%
5 Years: 10%
3 Years: 12%
TTM: 19%
Compounded Profit Growth
10 Years: 15%
5 Years: 61%
3 Years: 69%
TTM: 25%
Stock Price CAGR
10 Years: 27%
5 Years: 79%
3 Years: 103%
1 Year: 26%
Return on Equity
10 Years: 7%
5 Years: 10%
3 Years: 14%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 105 111 118 125 123 128 126 130 135 146 165 186
85 67 68 67 57 65 86 72 101 89 113 147
52 53 50 51 48 52 56 44 59 50 63 74
Total Liabilities 242 233 237 244 230 247 269 248 296 287 342 412
136 130 132 134 126 122 122 110 122 103 160 182
CWIP 4 6 2 2 2 1 2 2 0 11 1 27
Investments 0 1 1 1 1 1 1 0 15 16 2 2
102 97 102 107 100 123 144 135 158 156 180 201
Total Assets 242 233 237 244 230 247 269 248 296 287 342 412

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 21 22 8 7 25 2 25 27 45
-14 -8 -13 -16 -7 -9 -11 1 -38 -5 -42 -61
-14 -24 -5 -6 -15 4 8 -20 23 -19 15 18
Net Cash Flow 1 -1 0 -2 1 3 4 5 -13 0 -0 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 63 67 68 83 81 57 84 67
Inventory Days 84 62 82 121 91 74 100 117 107 81 86 77
Days Payable 47 42 46 42 42 46 50 43 50 27 42 41
Cash Conversion Cycle 95 74 99 137 112 95 118 158 138 111 127 103
Working Capital Days 60 49 64 82 78 82 93 118 104 88 99 91
ROCE % 14% 8% 8% 8% 3% 6% 3% 2% 6% 9% 15% 17%

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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