1. At a Glance
GRP Ltd, the king of giving old tyres a second life, posted Q1 FY26 revenue of ₹123.8 Cr with profit plunging 60% YoY to ₹1.75 Cr. Margins compressed to 8%. Stock trades at ₹2,423, down 36% YoY, still valued at a premium P/E of 46x.
2. Introduction with Hook
Ever seen a phoenix rise from the ashes? GRP tries that with tyres. The company takes old rubber junk, recycles it, and sells it like it’s premium caviar to global tyre giants. But Q1 results? More like the phoenix catching a cold mid-flight.
3. Business Model (WTF Do They Even Do?)
- Reclaim Rubber (89% revenue) – Old tyres reborn as reclaimed rubber, sold to 8 of the top 10 tyre makers worldwide.
- Upscaled Polyamide & Engineered Products – Niche products from waste nylon and tyre scrap.
- Punchline: “Basically, they clean up your mess and charge you for it.”
4. Financials Overview
