GRP Ltd

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

GRP Ltd

₹ 3,153 1.60%
24 Dec - 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
Reclaim Rubber - It produces high-quality reclaim rubber from end-of-life tires, tread peelings, natural rubber, and butyl tubes, molded rubber products for use in both, tire and non-tire rubber products.
Engineering plastics - It is a sustainable material solution provider for challenging engineering applications. Its sustainable solutions are based on unfilled, and glass-reinforced Polyamide 6, Polyamide 66, and Polybutylene terephthalate. [1]
Polymer composite- It is produced using 100% recycled rubber and plastic. The products are eco-friendly and are stronger and more durable than wood. The products are well suited for application in logistics, construction, oil & gas, aviation, marine, industrial, and agriculture sectors. [2]

Segment Wise Revenue Split
Reclaim Rubber - 91% in FY22 vs 93% in FY21
Other Segments - 9% in FY22 vs 7% in FY21 [3]

Website BSE NSE
  • Market Cap ₹ 1,672 Cr.
  • Current Price ₹ 3,153
  • High / Low ₹ 4,840 / 1,136
  • Stock P/E 57.2
  • Book Value ₹ 323
  • Dividend Yield 0.30 %
  • ROCE 16.2 %
  • ROE 16.2 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 31.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 21.3%

Cons

  • Stock is trading at 9.75 times its book value
  • Company has a low return on equity of 9.50% over last 3 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

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
100.62 93.31 111.45 123.76 117.27 114.40 95.38 98.95 114.27 109.67 138.72 122.62 127.33
95.21 87.77 103.48 117.73 111.09 107.61 89.28 92.35 103.16 99.14 116.12 109.49 116.37
Operating Profit 5.41 5.54 7.97 6.03 6.18 6.79 6.10 6.60 11.11 10.53 22.60 13.13 10.96
OPM % 5.38% 5.94% 7.15% 4.87% 5.27% 5.94% 6.40% 6.67% 9.72% 9.60% 16.29% 10.71% 8.61%
0.30 0.06 0.50 0.17 5.21 1.84 -1.91 0.56 0.53 0.61 -1.76 1.31 0.88
Interest 1.00 1.38 1.19 1.60 1.47 1.61 1.78 1.80 1.84 1.91 2.10 1.98 2.01
Depreciation 2.99 3.15 3.20 3.22 3.25 3.02 2.90 2.70 2.87 3.16 3.27 3.57 3.70
Profit before tax 1.72 1.07 4.08 1.38 6.67 4.00 -0.49 2.66 6.93 6.07 15.47 8.89 6.13
Tax % -97.67% 27.10% 43.14% 20.29% 21.89% 1.50% -93.88% 20.68% 28.57% 23.89% 22.24% 32.85% 22.35%
3.39 0.78 2.32 1.10 5.20 3.95 -0.02 2.11 4.95 4.62 12.03 5.97 4.76
EPS in Rs 6.40 1.47 4.38 2.08 9.81 7.45 -0.04 3.98 9.34 8.72 22.70 11.26 8.93
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
274 309 339 315 303 299 357 349 280 388 451 462 498
242 273 317 286 277 280 332 330 263 364 426 411 441
Operating Profit 32 36 22 29 27 19 25 19 17 24 25 51 57
OPM % 12% 12% 7% 9% 9% 6% 7% 5% 6% 6% 6% 11% 11%
3 1 8 0 3 1 1 1 2 0 5 -0 1
Interest 6 7 5 4 4 4 5 8 5 4 6 8 8
Depreciation 10 12 15 14 14 13 13 13 13 12 12 12 14
Profit before tax 18 18 11 11 12 2 8 -2 1 7 12 31 37
Tax % 34% 39% 20% 24% 31% 60% 23% -233% -141% 22% 12% 24%
12 11 9 8 8 1 6 3 2 6 10 24 27
EPS in Rs 22.09 20.43 16.74 15.13 15.64 1.85 12.04 5.66 3.09 10.91 19.30 44.74 51.61
Dividend Payout % 17% 20% 17% 17% 16% 17% 17% 24% 20% 21% 22% 21%
Compounded Sales Growth
10 Years: 4%
5 Years: 5%
3 Years: 18%
TTM: 18%
Compounded Profit Growth
10 Years: 9%
5 Years: 32%
3 Years: 234%
TTM: 166%
Stock Price CAGR
10 Years: 28%
5 Years: 74%
3 Years: 132%
1 Year: 162%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 10%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 1 1 1 1 1 1 1 1 1 1 1 1 5
Reserves 96 104 111 118 126 126 132 130 134 139 146 167 167
90 85 67 68 65 56 64 86 72 100 85 110 109
49 52 53 49 50 48 52 57 45 60 50 63 66
Total Liabilities 236 242 233 236 243 231 250 273 252 300 283 341 347
139 136 129 130 130 123 119 120 108 120 101 147 144
CWIP 2 4 6 2 2 2 1 2 2 0 5 1 12
Investments 0 0 1 1 1 1 8 8 8 23 21 7 8
95 102 97 103 109 104 122 143 134 157 155 185 183
Total Assets 236 242 233 236 243 231 250 273 252 300 283 341 347

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
13 28 32 18 22 23 9 8 25 2 26 29
-32 -14 -9 -12 -17 -7 -10 -12 1 -38 -3 -44
6 -14 -24 -5 -7 -15 4 8 -20 23 -23 15
Net Cash Flow -13 1 -1 0 -2 1 3 4 5 -13 0 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 64 59 54 63 58 62 66 68 83 80 58 84
Inventory Days 92 84 62 81 118 88 73 98 116 106 79 83
Days Payable 52 47 42 45 41 41 46 52 45 53 28 44
Cash Conversion Cycle 105 95 74 99 135 110 93 114 153 134 109 123
Working Capital Days 59 60 49 64 83 80 81 91 116 102 88 103
ROCE % 14% 14% 8% 8% 8% 4% 7% 3% 2% 6% 7% 16%

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
41.75% 41.58% 41.49% 41.51% 41.26% 40.61% 40.51% 40.41% 40.36% 40.36% 40.30% 40.29%
0.00% 0.03% 0.01% 0.12% 0.01% 0.13% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05%
58.25% 58.39% 58.50% 58.37% 58.71% 59.24% 59.50% 59.58% 59.64% 59.64% 59.69% 59.66%
No. of Shareholders 2,8263,1433,1223,0062,8023,0913,0742,9972,9453,1513,8949,097

* 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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