GRP Ltd , a leading player in the rubber industry, has announced significant changes to its board composition and key appointments following its 51st Annual General Meeting (AGM) held on July 25, 2025. The company has made strategic moves to strengthen its leadership team and corporate governance structure.

Appointment of Non-Executive Non-Independent Director

Rajendra V. Gandhi, a veteran with over 50 years of experience in the rubber industry, has been appointed as a Non-executive Non-Independent Director of GRP Ltd. Gandhi, who holds a B.Tech degree from IIT Mumbai, brings a wealth of knowledge and expertise to the board. His appointment is expected to provide valuable insights and guidance to the company's strategic direction.

Reappointment of Executive Director

Hemal H. Gandhi has been reappointed as an Executive Director for the period from August 22, 2025, to March 31, 2028. With degrees in Human Development and Developmental Counselling, Hemal Gandhi leads the company's Polymer Composite and Custom Die Form verticals. She also oversees key functions including Human Resources, Corporate Communications, and CSR activities. Her reappointment ensures continuity in these critical areas of the company's operations.

New Independent Director

Belur Krishna Murthy Sethuram has been appointed as an Independent Director for a five-year term from May 9, 2025, to May 8, 2030. Sethuram brings 38 years of experience in chemical and allied industries to GRP Ltd. His expertise is further evidenced by his role as an Independent Director in three other listed companies within the plastic and chemical segment.

Appointment of Secretarial Auditor

In a move to enhance its corporate governance practices, GRP Ltd has appointed Yogesh D. Dabholkar & Co. as the Secretarial Auditor for five consecutive financial years from 2025-26 to 2029-30. This appointment ensures compliance with regulatory requirements and maintains transparency in the company's secretarial practices.

Shareholder Approval and Voting Results

The company reported that all resolutions proposed at the AGM were passed with the requisite majority. The voting results showed strong shareholder support for these appointments and changes, with most resolutions receiving over 99% votes in favor.

These board changes and appointments reflect GRP Ltd's commitment to strengthening its leadership team and corporate governance structure. By bringing in experienced professionals and ensuring continuity in key positions, the company aims to drive growth and maintain its competitive edge in the rubber industry.

The market will be watching closely to see how these new appointments and reappointments contribute to GRP Ltd's strategic direction and performance in the coming years.

GRP Limited , a leading sustainable materials producer, announced significant changes in its leadership and approved important financial and operational decisions during its 51st Annual General Meeting (AGM) and subsequent Board meeting held on July 25, 2025.

Leadership Transition

Rajendra V. Gandhi, who has been at the helm of GRP Limited as Executive Chairman, stepped down from his position at the conclusion of the 51st AGM. This transition aligns with the company's Nomination and Remuneration policy and follows a shareholders' resolution passed at the 50th AGM held on August 2, 2024.

In a move to retain Gandhi's expertise, the company has proposed his appointment as a Non-executive Non-Independent Director through a special resolution at the same AGM. The voting results for this proposal are pending.

Financial Performance and Operational Updates

The Board of Directors approved the unaudited provisional standalone and consolidated financial results for the quarter ended June 30, 2025. While specific figures were not disclosed for all metrics, the company acknowledged facing challenges in both revenue and profitability during this period.

Managing Director Harsh Gandhi commented on the Q1 FY26 performance, stating, "We began FY26 on a challenging note, with headwinds impacting both revenue and profitability. Total income for Q1 FY26 stood at Rs 1,247.00 crore, reflecting a marginal year-on-year decline."

Key highlights from the quarter include:

• A 7% drop in volumes, primarily due to global uncertainties and a temporary maintenance-related pause in one production line.
• Domestic revenue grew by 5% year-on-year, while export revenue declined by 9%.
• The Non-RR (Non-Reclaim Rubber) segment saw a 17% year-on-year revenue increase, supported by volume growth.

Strategic Decisions

The Board made several important decisions to strengthen the company's financial and operational position:

1. External Commercial Borrowings (ECB): The Board approved a reduction in the existing ECB sanctioned by PROPARCO from €15.00 million to €12.00 million.

2. Renewable Energy Initiative: GRP Limited will procure power from solar renewable sources for its Gujarat and Maharashtra manufacturing locations under a group captive arrangement. This will involve investments in Amplus Energy Solutions Private Limited and GSE Renewables India Private Limited.

3. Sustainability Focus: The company continues to emphasize sustainability, with 37% of its energy needs now harnessed from renewable sources, up from 11% in the previous year.

Future Outlook

Despite current challenges, GRP Limited remains committed to its growth strategy and sustainability goals. The company is set to commission its continuous pyrolysis facility at Solapur soon, which is expected to enhance its recycling capabilities.

Harsh Gandhi expressed confidence in the company's future, stating, "We remain committed to navigating the current headwinds with resilience and agility, and shall continue to strive toward restoring growth and strengthening our business performance in the quarters ahead."

As GRP Limited navigates through this transition period, stakeholders will be keenly watching how these strategic decisions and leadership changes shape the company's future in the sustainable materials industry.