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GRP Ltd (GRPLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509152 NSE: GRPLTD Rubber Products | Small Cap | GRP Share Price

₹1,784.70 -15.30 (-0.85%)

As on 04-Jun'26 16:59

GRP Ltd (GRPLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509152 NSE: GRPLTD Rubber Products | Small Cap | GRP Share Price

₹1,784.70 -15.30 (-0.85%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹952 Cr.
Current Price
₹1,784.7
52-Week Low / High
₹1,500 / 3,001
TTM EPS
₹16.7
TTM Sales
₹526 Cr.
Book Value per Share
₹361.3
P/E Ratio
106.62
Higher than its 5-year historical median
Industry PE
26.4
Price to Book (P/B)
4.94
Higher than its 5-year historical median
Price to Sales (P/S)
1.81
Higher than its 5-year historical median
EV/EBITDA
24.49
Higher than its 5-year historical median
Dividend Yield
0.52%
Profitability Efficiency
Return on Equity (ROE)
20.58%
Outperforms industry median
Return on Capital Employed (ROCE)
19.47%
Outperforms industry median
Return on Assets (ROA)
9.90%
Operating Profit Margin
12.6%
Net Profit Margin
7.09%
Gross Profit Margin
11.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
15.74%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
43.33%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
59.68%
Asset Quality
Promoter Holding
40.06%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹187 Cr.
Equity
₹5.3 Cr.
Face Value
₹10
All Time Low / High
₹3.70 / 4840.00

GRP stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is GRP Ltd a good quality company?
GRP Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does GRP Ltd performance compare with that of its Peers?
Q.1 Revenue growth of GRP Ltd vs industry peers?
GRP Ltd revenue CAGR is 8.91%, compared to the industry median CAGR of 8.96%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of GRP Ltd?
Promoters hold 40.06% of the GRP Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 How do the current valuation ratios compare with 5-year historical median and industry numbers?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GRP Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 8.2%8.3%3.6%6.8%2.8%2.9%5.4%7.7%15.2%19.5%-
Value Creation
Index
-0.4-0.4-0.7-0.5-0.8-0.8-0.6-0.50.10.4-

Growth Parameters

Sales 315303299357349280388451462534526
Sales YoY Gr.--3.7%-1.2%19.2%-2.3%-19.8%38.9%16.2%2.4%15.7%-
Adj EPS 15.813.42.56.9-3.1-2.82.113.442.767.316.7
YoY Gr.--15.1%-81.2%172.3%-144.4%NANA548.8%218.2%57.6%-
BVPS (₹) 222.9239.5238.1250.9246.1254.2263277.1315.4374.6361.3
Adj Net
Profit
8.47.21.43.7-1.6-1.51.17.222.835.99
Cash Flow from Ops. 17.721.923.18.77.524.81.825.928.747.9-
Debt/CF from Ops. 3.832.47.411.32.954.33.33.82.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.1%8.9%11.2%15.7%
Adj EPS 17.5%NA219.2%57.6%
BVPS5.9%8.8%12.5%18.8%
Share Price 21.2% 46.3% 23.7% -38.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
7.35.81.12.8-1.2-1.10.8514.419.54.6
Op. Profit
Mgn %
9.38.86.25.93.54.84.24.710.112.68
Net Profit
Mgn %
2.72.40.51-0.5-0.50.31.64.96.71.7
Debt to
Equity
0.60.50.40.50.70.50.70.60.70.70.4
Working Cap
Days
16415513911012715712512112912874
Cash Conv.
Cycle
70808069801068879827718

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales315303299357349280388451462534
Operating Expenses + 286277281336337266373430415468
Manufacturing Costs5859617168548093104112
Material Costs149139138172172136183210211242
Employee Cost 49535258604847535460
Other Costs 30263035362862734754
Operating Profit 29271821121315214666
Operating Profit Margin (%) 9.1%8.8%6.1%5.9%3.5%4.8%4.0%4.7%10.0%12.4%
Other Income + 0325759978
Exceptional Items 00000000-20
Interest 44458546810
Depreciation 14141313131312121215
Profit Before Tax 111228-217123150
Tax 3412-5-121712
Profit After Tax 8816326102438
PAT Margin (%) 2.6%2.8%0.3%1.8%0.9%0.6%1.5%2.3%5.1%7.1%
Adjusted EPS (₹)15.015.71.812.05.63.110.919.244.571.0
Dividend Payout Ratio (%)16.60%15.90%17%16.70%24.50%20.40%20.70%22.20%21.10%20.40%

Valuation of GRP - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 119128127134131136140148168200
Share Capital 1111111115
Reserves 118126126132130134139146167194
Debt +566150628167937699127
Long Term Debt91153111630222033
Short Term Debt46504559695263547994
Minority Interest0000000000
Trade Payables18211522251726162529
Others Liabilities 77594136373344475562
Total Liabilities 270268234253273253304286347418

Fixed Assets

Net Fixed Assets +130131121118119107119100146163
Gross Block216230233240254250271246303328
Accumulated Depreciation8599111122135143152145156165
CWIP 22212205127
Investments 111888232179
Inventories33453334464353464850
Trade Receivables5448516565638671106102
Cash Equivalents 21158140101
Others Assets 47402322251523423866
Total Assets 270268234253273253304286347418

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 18222398252262948
PBT 111228-217123450
Adjustment 18171716231817171824
Changes in Working Capital -7-44-13-126-201-18-18
Tax Paid -3-3-0-3-1-0-2-4-5-8
Cash Flow From Investing Activity + -12-17-7-10-121-38-3-44-59
Capex -11-14-7-9-12-0-24-5-53-62
Net Investments -0-1-0-7-00-15414-0
Others -1-2-06010-1-53
Cash Flow From Financing Activity + -5-7-1548-2023-231513
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 00000000-213
Interest Paid -4-3-4-5-8-5-4-6-7-9
Dividend Paid -2-2-2-0-20-0-1-2-5
Others 0-2-9918-1528-152614
Net Cash Flow 0-21345-130-01

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)6.936.790.774.892.261.234.197.115.0120.58
ROCE (%)8.218.333.596.772.842.855.357.6515.2319.47
Asset Turnover Ratio1.151.171.251.551.391.131.481.631.561.49
PAT to CFO Conversion(x)2.252.75231.52.6712.50.332.61.211.26
Working Capital Days
Receivable Days58.7059.5057.8056.5064.807966.1059.7065.4066.50
Inventory Days35.4045.3045.5032.9040.205542.7037.6034.5031.30
Payable Days47.5051.8048.2039.6049.1055.5043.3036.7035.6040.60

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.190.190.190.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

GRP Ltd FAQs

The current trading price of GRP on 04-Jun-2026 16:59 is ₹1,784.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of GRP stood at ₹951.8 Cr

The latest P/E ratio of GRP as of 03-Jun-2026 is 106.6.

The latest P/B ratio of GRP as of 03-Jun-2026 is 4.94.

The 52-week high of GRP is ₹3,001.2 and the 52-week low is ₹1,500.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GRP is ₹526 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that GRP Ltd is a below average quality company.

The key valuation ratios of GRP Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of GRP Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About GRP Ltd

Established in 1974, Gujarat Reclaim & Rubber Products Ltd. (GRRP) began producing with a modest capacity of only 2400 MT.From then on, there was no looking back. GRRPL grew manifold and widened its geographical presence in India and abroad. It was conferred the 'Export House' status by the Government of India for its steady export, growth and performance.

GRRPL produces reclaim rubber from scrap of whole tyres, tread peelings, natural rubber tubes, butyl tubes, moulded rubber products for different applications in both, tyre and non tyre rubber products.

Through steady growth and a strong vision, GRRP has emerged as the largest manufacturer of reclaim rubber in the country and among the largest globally.

GRRP has achieved a strong export growth in the last decade and spread itself to over 35 countries across the globe. GRRP is striving to expand its global base by reaching out to countries and applications not explored in the past. 

Product range of the company includes:

GRRPL produces reclaim rubber from scrap of whole tyres, tread peelings, natural rubber tubes, butyl tubes, moulded rubber products for different applications in both, tyre and non tyre rubber products.

  • BT 999 Butyl Reclaim
  • BTA 777 Butyl Reclaim
  • BTI 888 Butyl Reclaim
  • T 1010 Tube Reclaim
  • CHT 100 Latex Reclaim
  • EP 101 EPDM Reclaim
  • 777 E Nitrile Polycoat
  • FKM 100 Reprocessed Fluroelastomer (FKM)
  • FKM 101 Reprocessed Fluroelastomer (FKM)
  • HT 555 High Tensile Whole Tyre Reclaim

Milestones:

  • 1978 Production commences at Ankleshwar
  • 1984  First export order 4800
  • 1986  Solapur plant setup 7200
  • 1989  Joint venture in Malaysia
  • 1991  Exports grow to 5 countries, commenced production of Butyl Reclaim
  • 1993  Commenced manufacture of surface treated crumb from tyre crumb & NBR crumb
  • 1997  Commenced production of products split and punched from waste tyres
  • 1999  Exports cross 10 countries, commenced production of EPDM reclaim
  • 2003  Exports cross 25 countries
  • 2004  Government of India confers 'Export House' status, company receives single ISO 9001 certification for both plants
  • 2005  Implemented SAP for streamlining processes, exports cross 31 countries
  • 2006  3rd Reclaim plant setup at Panoli, company receives ISO 14001 certification
  • 2007  A dedicated plant for fine crumbs set up, exports cross 35 countries

Achievements/ recognition:

  • Largest manufacturer and exporter of reclaimed rubber in India.
  • Successfully offered technical collaboration (a plant in Malaysia) for supply of machinery and technical know how to manufacture reclaimed rubber.
  • First to introduce a surface treated crumb rubber manufacturing facility in India capable of manufacturing crumbs from various types of natural rubber based and synthetic rubber based products.
  • Punch and split products from used tyres were manufactured for the first time in India by GRRP.
  • First to design and commission an air pollution control system.
  • GRRP has in its portfolio the most number of grades of reclaim from synthetic rubbers such as Butyl, EPDM.
  • GRRP has been an uninterrupted dividend paying company.
  • Use of a gas based captive power plant at Ankleshwar & Panoli for continuous power supply, ensuring a clean environment. The company has also utilized waste heat from the process to use back in its processes.
  • GRRP has implemented a SAP ERP to streamline its business processes, moving it from a people driven to a systems driven company.
  • GRRP has been conferred a Star Export House status by the Government of India.

Certification

  • Solapur plant receives ISO 9001 certification.
  • Ankleshwar plant receives ISO 9002 certification.

Awards From

  • Compuworld
  • AIRIA
  • CAPEXIL
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