Gravita India Ltd Share Price – NSE  /  BSE

Non Ferrous Metals, Small Cap

Kaveri Seed Company Ltd, Borosil Renewables Ltd, Team Lease Services Ltd and Easy Trip Planners Ltd are among the other gainers in the BSE's 'A' group today, 23 July 2024.

Gravita India Ltd surged 8.86% to Rs 1579.1 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 69377 shares were traded on the counter so far as against the average daily volumes of 14834 shares in the past one month.

Kaveri Seed Company Ltd soared 8.26% to Rs 1048.55. The stock was the second biggest gainer in 'A' group. On the BSE, 73433 shares were traded on the counter so far as against the average daily volumes of 10978 shares in the past one month.

Borosil Renewables Ltd spiked 7.64% to Rs 515.5. The stock was the third biggest gainer in 'A' group. On the BSE, 3.93 lakh shares were traded on the counter so far as against the average daily volumes of 69413 shares in the past one month.

Team Lease Services Ltd gained 5.83% to Rs 3078.25. The stock was the fourth biggest gainer in 'A' group. On the BSE, 5193 shares were traded on the counter so far as against the average daily volumes of 6913 shares in the past one month.

Easy Trip Planners Ltd spurt 5.74% to Rs 42.35. The stock was the fifth biggest gainer in 'A' group. On the BSE, 49.17 lakh shares were traded on the counter so far as against the average daily volumes of 9.05 lakh shares in the past one month.

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Profit before tax stood at Rs 75.06 crore in June 2024 quarter, up 22.73% from Rs 61.16 crore in Q1 FY23.

EBITDA jumped to Rs 91.24 crore in Q1 FY25, registering growth of 33.12% from Rs 68.54 crore posted in Q1 FY24.

EBITDA margin improved to 10.05% in Q1 FY25 as against to 9.74% recorded in the corresponding quarter previous year.

Yogesh Malhotra, whole time director & CEO, Gravita India, said, “Gravita has commenced FY25 on an optimistic note. It is firmly advancing towards its objective of boosting capacity to over 5 Lacs+ MTPA with a capex of Rs 600 crore+ by FY27. Vision 2028 outlines Gravita’s strategic focus on expanding into new recycling verticals such as lithium-ion, steel, and paper recycling.

The company aims for a volume and profitability growth of over 25% and 35%, respectively on CAGR basis, ROCE of over 25%, and an increase in value-added products and non-lead business to over 50% and 30%, respectively. Gravita is committed to meeting its short-term, mid-term, and long-term targets outlined in the company's ESG Roadmap by FY27, FY34, and FY50, respectively showing its focus on sustainable growth and creating a positive impact.

Q1FY25 performance shows a great start to FY25. Gravita witnessed remarkable growth in volumes, revenues, EBITDA, and PAT by 29%, 29%, 33%, and 29% respectively. Proportion of Value-added products and availability of domestic scrap continues to increase.”

Meanwhile, the company’s board has approved the re-appointment of Rajat Agrawal as managing director for a term of three years with effect from 25 September, 2024. He is a Bachelor of Engineering from MNIT, Jaipur and carry rich experience of over 32 years in establishing and handling manufacturing operations.

Later, the board of directors approved the proposal of voluntary dissolution of the wholly owned subsidiary of the company, Gravita Ghana.

Gravita India is manufacturer of lead, lead alloys & lead products, aluminium alloys & plastic granules, offers turnkey solutions for recycling industry and consultancy.

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Net profit of Gravita India rose 29.28% to Rs 67.33 crore in the quarter ended June 2024 as against Rs 52.08 crore during the previous quarter ended June 2023. Sales rose 29.07% to Rs 907.86 crore in the quarter ended June 2024 as against Rs 703.39 crore during the previous quarter ended June 2023.

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The Board of Gravita India at its meeting held on 20 July 2024 has approved the proposal of Voluntary dissolution of the wholly owned subsidiary of the company, i.e. Gravita Ghana.

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