Q4 2026 GRP Ltd Earnings Call Transcript
Key Points
- GRP Ltd (BOM:509152) made significant strategic investments and commissioned new business platforms, strengthening its long-term positioning within the circular materials ecosystem.
- The company commercialized its next-gen low-emission Reclaim Rubber technology and expanded customer approvals for the same.
- Domestically, Reclaim Rubber outperformed broader industry trends, with consumption rising by approximately 7% year-on-year.
- GRP Ltd's investments in biofuel-based heating systems and renewable energy projects helped mitigate fuel cost volatility.
- The company is targeting a growth CapEx of approximately INR90 crores to INR100 crores during FY '27, focusing on solar and wind energy usage across operations in Gujarat.
- Total income for FY '26 declined by approximately 3% compared to FY '25, reflecting a high comparative base and persistent softness in export demand.
- EBITDA for FY '26 stood at INR429 million, impacted by softened export volumes, lower spreads, and inflationary pressures in key raw material categories.
- Profitability was further impacted by onetime and nonoperational items, including foreign exchange losses and closure of the Polymer Composite business.
- Export volumes for the company declined by about 15%, while domestic volumes grew nearly 10%, indicating a shift towards lower-margin markets.
- The company's debt-to-equity ratio increased to 1.15 in FY '26 from 0.76 in FY '25, primarily due to strategic growth CapEx and investments in new business initiatives.
Ladies and gentlemen, good day, and welcome to the GRP Limited Q4 and FY '26 earnings conference call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note, this conference is being recorded.
I now hand the conference over to Mr. Harsh Gandhi, Managing Director, for his opening remarks. Thank you, and over to you, sir.
Thank you. A very good afternoon, ladies and gentlemen. We appreciate your presence on GRP Limited's Q4 and FY '26 Earnings Conference Call. I'm joined today by our CFO, Ms. Shilpa Mehta; and representatives from SGA, our Investor Relations adviser. The investor presentation has been uploaded to the stock exchanges and our corporate website, and I trust you have had the opportunity to
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