Our strategic initiatives are designed to ensure our long-term growth,
resilience and global competitiveness ^
Dear Shareholders,
I hope this letter finds you well. It is with immense pleasure and
gratitude that I present to you the annual report of GRP Ltd., commemorating our milestone
of completing 50 years of impactful operations. As the Promoter Director, I am deeply
honored to share some of the pivotal moments and achievements that have defined our
journey thus far.
Founded amidst the economic challenges of the seventies, GRP Ltd. was
established in 1974, with a vision to create employment opportunities, champion recycling
as a sustainable raw material, contribute to conserving foreign exchange and safeguarding
the environment. Over the decades, we have not only fulfilled these objectives but have
also grown to become a global leader in the manufacturing and export of reclaim rubber.
Our commitment to self-reliance led us to innovate and fabricate
essential machinery in-house, a decision that not only enhanced our operational expertise
but also positioned us as a strategic partner in international ventures, such as our
collaboration with MARDEC in Malaysia.
The economic shifts of the nineties propelled us towards a focus on
exports, earning the trust of prominent tire manufacturers worldwide and solidifying our
position as India's foremost exporter of reclaim rubber. Our dedication to innovation,
quality, and sustainability has allowed us to maintain this leadership role and has been
instrumental in navigating the evolving regulatory landscape, including the recent
government initiatives under the Extended Producer Responsibility (EPR) policy.
As we celebrate our golden anniversary, it is a moment of great pride
for all of us at GRP Ltd. Not only have we achieved longevity, but we have also made a
tangible positive impact on our environment and communities. The decision of the Board to
propose a generous bonus of three new shares for every one share held is a testament to
our commitment to sharing our success with our valued shareholders, alongwith declaring an
all time high of 375% pending your approval at the upcoming AGM.
Looking ahead, we are focused on expanding our capacities, advancing
our technologies, deepening our commitment to sustainability, diversifying our markets,
nurturing talent, and fortifying our supply chain. These strategic initiatives are
designed to ensure our long-term growth, resilience and global competitiveness.
I extend my heartfelt gratitude to all stakeholders - our dedicated
employees, loyal customers, resilient supply chain partners, supportive bankers and most
importantly, you, our esteemed shareholders. Your unwavering trust and support have been
instrumental in our journey of growth and sustainability. Together, we will build upon our
legacy of excellence and continue to create an impact positive for all stakeholders!
Rajendra Gandhi
Executive Chairman, GRP Ltd