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GRP Q2 FY27 Share Price & Earnings Call Analysis

₹1,928.70+7.75% today
Market cap
₹1,029 Cr
P/E
150.16
ROE
2.48%
PEG
-4.94
Price to sales
1.81
Debt to equity
1.16
52W high / low
₹2,106 / ₹1,542
Sales growth (5Y)
13.86%
EBITDA margin
8.30%
Net profit margin
0.86%
Promoter holding
40.05%
Sales (last year)
₹568 Cr

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]

Guidance scorecard · Q2 FY27 call

What GRP Ltd's management guided
and where it ranks in Industrial Products

#20of 100 in
Industrial Products
Revenue20–40%MarginsUp 2%+CapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

20–40%
  • Overall revenue growth expected to be around 20%+ in FY27.
  • Reclaim Rubber volumes anticipated to grow close to 20% in FY27, with sustained mid-teen volume growth over next 3 years.
  • Pyrova Energy capacity to scale to 45,000 tons in FY27; further 30,000 tons capacity addition planned in FY28.
  • Pyrova business expected to move from single-digit margins during ramp-up to 18%-20% EBITDA margin after rCB facility commissioning and customer approvals.
  • Plastic recycling business (nylon and polyolefin) expected to grow over 20% in FY27 and mid-teen growth through FY30, with stable EBITDA margins of 10%-15%.

2 more points from GRP Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 2%+

See what GRP Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • FY28 Capex to be decided in H2 FY27, dependent on Solapur facility success.
  • Total committed investment remains INR 250 crores with around INR 100 crores pending.
  • Deleveraging plans exist but timing depends on cash flow and opportunities; no firm plans currently.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what GRP Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • GRP Limited has restored all lost volumes in exports and is aiming for further growth, indicating a healthy order pipeline.
  • The export share in focused geographies has increased, while domestic market share has marginally improved.
  • Export order books are recovering; however, indirect business impacted by U.S. tariffs has not fully returned yet, with expectations for recovery over the year.

2 more points from GRP Ltd's call on the order book

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Full Q1 FY27 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does GRP Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

Sign up free to see every company in the sector ranking and track GRP Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of GRP Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

GRP Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +40.36%40.36%40.30%40.29%40.18%40.06%40.06%40.06%40.06%40.06%40.05%40.05%
FIIs +0.00%0.00%0.00%0.05%0.01%0.05%0.03%0.02%0.02%0.05%0.02%0.01%
DIIs +0.00%0.00%0.00%0.00%0.38%0.38%0.38%0.00%0.00%0.00%0.00%0.28%
Public +59.64%59.64%59.69%59.66%59.44%59.53%59.53%59.93%59.93%59.90%59.93%59.66%
No. of Shareholders2,9453,1513,8949,0978,4948,2378,3578,7958,5588,0467,9327,653

Financials of GRP Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +114.41109.69137.94126.20131.65132.26160.34123.75132.36134.71144.52156.83172.34
Expenses +103.3399.27115.22113.42121.85119.62127.49113.82121.74123.97135.59139.93154.49
Operating Profit11.0810.4222.7212.789.8012.6432.859.9310.6210.748.9316.9017.85
OPM %9.68%9.50%16.47%10.13%7.44%9.56%20.49%8.02%8.02%7.97%6.18%10.78%10.36%
Other Income +0.430.48-2.230.470.240.400.250.930.78-0.920.500.460.37
Interest1.881.911.692.102.182.943.253.393.543.864.003.964.16
Depreciation2.983.283.443.833.974.054.164.254.544.894.984.995.20
Profit before tax6.655.7115.367.323.896.0525.693.223.321.070.458.418.86
Tax %29.32%24.52%23.96%40.30%35.48%27.44%24.29%45.65%40.96%20.56%400.00%50.06%28.10%
Net Profit +4.694.3111.674.372.514.3819.451.751.960.85-1.344.206.38
EPS in Rs8.858.1322.028.254.718.2136.473.283.681.59-2.517.8811.96

Financials of GRP Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +339315304300357349280388451461550535608
Expenses +317286278281332330263364426411482494554
Operating Profit22292618251917242551694154
OPM %7%9%9%6%7%5%6%6%6%11%13%8%9%
Other Income +8-031012010-1100
Interest5444585567101516
Depreciation15141414131413121312161920
Profit before tax11101117-217153043819
Tax %19%24%35%197%26%-232%-127%23%9%25%28%60%
Net Profit +987-15326142331310
EPS in Rs16.7414.9213.00-1.4210.065.603.1510.8726.3242.7257.566.0418.92
Dividend Payout %17%17%19%-22%20%25%20%21%16%22%25%58%

Financials of GRP Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital1111111111555
Reserves111118125123128126130135146165186173184
Borrowings +6768675765867210189113147208220
Other Liabilities +53505148525644595063747679
Total Liabilities233237244230247269248296287342412462489
Fixed Assets +130132134126122122110122103160182227225
CWIP6222122011127624
Investments1111110151622148
Other Assets +97102107100123144135158156180201216232
Total Assets233237244230247269248296287342412462489

Financials of GRP Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +321821228725225274530
Cash from Investing Activity +-8-13-16-7-9-111-38-5-42-61-56
Cash from Financing Activity +-24-5-6-1548-2023-19151826
Net Cash Flow-10-21345-130-01-1
Free Cash Flow235515-0-425-2213-30-18-16
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit150%72%90%122%45%43%148%16%116%63%76%96%

Financials of GRP Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days546358636768838157846775
Inventory Days6282121917410011710781867769
Days Payable424642424650435027424138
Cash Conversion Cycle749913711295118158138111127103105
Working Capital Days31022222221463837271817
ROCE %8%8%8%3%6%3%2%6%9%15%18%7%

Guidance history

How GRP Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%Up 2%+Planned—Rising
Q4 FY26 call →10–20%FlatPlannedPlannedRising
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%Up 0–2%PlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

28out of 100

Momentum score · price trend

28 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−4.1%57%
Last 6 months+1.6%58%
Last 3 months−8.1%50%

The price is 55.8% below its all-time high of ₹4,362.35 (16 Aug 2024). Stocks more than 20% below their peak have their score halved, so 56 became 28.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For GRP Ltd: 0.4 × 57 + 0.4 × 58 + 0.2 × 50 = 56, halved to 28 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What GRP Ltd's management said in earlier quarters

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