Q1 2027 GRP Ltd Earnings Call Transcript
Key Points
- GRP Ltd (BOM:509152) reported a 26% year-on-year increase in consolidated total income for Q1 FY27, reaching INR1,573 million, driven by volume growth and improved realizations.
- EBITDA rose by 60% to INR174 million, with an EBITDA margin expansion of 233 basis points to 11%, despite rising raw material costs.
- The Rubber Recycling segment saw a 34% revenue growth, with reclaim export volumes rebounding by 20% due to easing US tariffs.
- The Pyrova Energy business achieved its longest continuous reactor run, indicating improved stability and operational efficiency.
- Engineering Plastics volumes grew by 27%, supported by domestic automotive demand and favorable pricing, leading to a 14 percentage point expansion in EBITDA margins year-on-year.
- Raw material costs rose sharply during the quarter, impacting gross margins.
- The Pyrova Energy business is not yet stand-alone profitable and requires further scaling and customer approvals to achieve profitability.
- Challenges persist in the effective collection of waste and improving yield in the plastic recycling business.
- The company faces ongoing volatility in global logistics, which could impact future operations.
- The indirect impact of US tariffs has led to some lost business volumes that have not yet fully recovered.
Ladies and gentlemen, good day, and welcome to GRP Limited Q1 FY27 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 date of this call. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that 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 to everyone, and thank you for joining GRP Limited's quarter 1 earnings call for fiscal year 2027. I'm joined today by our CFO, Ms. Shilpa Mehta; and by our Investor Relations advisers, SGA.
Our investor presentation has been uploaded to the stock exchanges and on our website, and hope all of you have had an opportunity to go through the same. For several
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