Gravita India Ltd

Gravita India announced that its wholly owned subsidiary, Gravita Ghana has been voluntarily dissolved. Powered by Capital Market - Live

Gravita India has received credit ratings from India Ratings and Research as under: Fund based / non fund based working capital limit (Rs 100 crore) - IND AA-/Stable/ IND A1+ Proposed short term loans (Rs 50 crore) - IND A1+Powered by Capital Market - Live

KPI Green Energy Ltd, Jai Corp Ltd, Vardhman Textiles Ltd and Ramkrishna Forgings Ltd are among the other losers in the BSE's 'A' group today, 23 January 2025.Gravita India Ltd lost 5.20% to Rs 2061.05 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 32939 shares were traded on the counter so far as against the average daily volumes of 13114 shares in the past one month.KPI Green Energy Ltd tumbled 4.99% to Rs 370.2. The stock was the second biggest loser in 'A' group.On the BSE, 4.51 lakh shares were traded on the counter so far as against the average daily volumes of 1.28 lakh shares in the past one month.Jai Corp Ltd crashed 4.79% to Rs 138.1. The stock was the third biggest loser in 'A' group.On the BSE, 2.07 lakh shares were traded on the counter so far as against the average daily volumes of 2.71 lakh shares in the past one month.Vardhman Textiles Ltd corrected 4.65% to Rs 458.15. The stock was the fourth biggest loser in 'A' group.On the BSE, 25073 shares were traded on the counter so far as against the average daily volumes of 16146 shares in the past one month.Ramkrishna Forgings Ltd dropped 4.11% to Rs 859.95. The stock was the fifth biggest loser in 'A' group.On the BSE, 31103 shares were traded on the counter so far as against the average daily volumes of 47839 shares in the past one month.Powered by Capital Market - Live

Profit before tax stood at Rs 80.11 crore in the December 2024 quarter, up 20.79% from Rs 73.77 crore in Q3 FY24. Total expenses advanced 35.2% to Rs 915.69 crore during the quarter. The cost of material consumed stood at Rs 798.94 crore (up 29.3% YoY), employee benefit expenses stood at Rs 33.88 crore (up 1.3%), and finance cost was at Rs 18.97 crore (down 1.23% YoY) during the period under review. EBITDA stood at Rs 102.27 crore in Q3 FY25, registering growth of 14.03% from Rs 89.68 crore posted in Q3 FY24. EBITDA margin reduced to 10.26% in Q3 FY25 as against 11.83% recorded in the corresponding quarter previous year. Yogesh Malhotra, whole-time director & CEO, Gravita India, said, 'Gravita has delivered exceptional performance in the first nine months of FY25 and is progressing strongly towards achieving its vision 2028. This vision includes expanding capacities across both existing and new verticals, with an expected compound annual growth rate (CAGR) of 25%+ in volume and 35%+ in profitability. The company also aims for a return on invested capital (ROIC) of 25%+, value-added products to contribute over 50% of the total portfolio, and non-lead business to account for 30%+ of the revenue. Furthermore, I am pleased to announce that Gravita has successfully raised Rs 1,000 crore through a Qualified Institutional Placement (QIP).' These funds will be strategically utilized to drive the company's vision of becoming a global leader and one of the most valuable companies in the recycling industry. Coming to Q3FY25 performance, Gravita achieved significant growth across key metrics, with volumes, revenues, EBITDA, and PAT increasing by 33%, 31%, 14%, and 29%, on YoY basis respectively. Proportion of Valueadded products and availability of domestic scrap continues to increase. Gravita is well-positioned for growth due to its strategic focus on ambitious capex and capacity expansion, global operations, and an integrated supply chain. The company benefits from stringent regulatory compliance, operational excellence, and a focus on high-margin products. Proactive risk mitigation through hedging, an experienced management team, and strong stakeholder support further bolster its growth prospects. Gravita India is a manufacturer of lead, lead alloys & lead products, aluminium alloys & plastic granules, and offers turnkey solutions for the recycling industry and consultancy. Powered by Capital Market - Live

Net profit of Gravita India rose 29.30% to Rs 77.93 crore in the quarter ended December 2024 as against Rs 60.27 crore during the previous quarter ended December 2023. Sales rose 31.49% to Rs 996.42 crore in the quarter ended December 2024 as against Rs 757.77 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales996.42757.77 31 OPM %8.1010.60 - PBDT96.7582.79 17 PBT89.1173.77 21 NP77.9360.27 29 Powered by Capital Market - Live

Gravita India will hold a meeting of the Board of Directors of the Company on 22 January 2025.Powered by Capital Market - Live

Gravita India announced that Recyclers Ghana, a step down subsidiary of the company situated in Ghana, West Africa has started commercial production of Recycled Aluminum Alloys from its new recycling plant having an annual capacity of around 4,000 MTPA in phase-I. Going ahead company has plans to increase the capacity of said plant upto 8,000 MTPA. The company is already having similar aluminum recycling facility in Senegal, Mozambique, Tanzania, Togo and India. Further, this is in line with the company's vision of replicating the recycling business in different geographies. The Group has made investment of approx. Rs. 6.75 crore in phase-I for procurement and commissioning of the said Recycling Plant which is invested from internal accruals of the company. The Company will be procuring domestic aluminum scrap for the purpose of production from this plant and it will cater to the needs of Automobiles and die casting industries situated in Europe & Asia. This plant will help company to change its sales mix by increasing the contribution from aluminum business.Powered by Capital Market - Live

The qualified institutional placement (QIP), which commenced on 16 December 2024, concluded on 19 December 2024, with a total of 47,70,537 equity shares being allotted. The shares were priced at Rs 2,096.20 per share, resulting in an issue size of approximately Rs 1,000 crore. The issue price of Rs 2,096.20 is at a discount of 5%, to the floor price of Rs 2,206.49 per equity share set for the QIP issue. Pursuant to the allotment of equity shares under the QIP, the paid-up equity share capital of the company increased to Rs 14.76 crore comprising 7,38,08,451 equity shares. The QIP witnessed participation from various institutional investors, with the top five allottees receiving around 40.95% of the total issue size. Oxbow Master Fund and Mirae Asset Mutual Fund, both secured a substantial 12.40% allocation. Following, Societe Generale - ODI received allocation of 6.15%. A 5% allocation was recived by both Aditya Birla Sun Life Insurance Company and Goldman Sachs Funds - Goldman Sachs India Equity Portfolio. Gravita India operates three largest amusement parks in Kochi, Bengaluru, and Hyderabad and the Wonderla resort in Bengaluru under the brand name Wonderla. On a standalone basis, net profit of Wonderla Holidays rose 28.4% to Rs 13.52 crore on 13.8% increase in net sales to Rs 75.16 crore in Q2 FY24 over Q2 FY23. The scrip rose 0.79% to currently trade at Rs 2,425.10 on the BSE. Powered by Capital Market - Live

The company's board authorized and declared the opening of the issue on Monday, 16 December 2024. The floor price of Rs 2,206.49 is at a discount of 1.45% to the scrip's previous closing price of Rs 2,239.05 on the BSE. The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead manager appointed for the issue. Gravita India said that it expects to use the net proceeds from the issue for repayment / pre-payment, in part or in full, of certain outstanding borrowings availed by the company and/or one of its subsidiaries; for funding working capital requirements of the company; and for general corporate purposes. Gravita India is manufacturer of lead, lead alloys & lead products, aluminium alloys & plastic granules, offers turnkey solutions for recycling industry and consultancy. The scrip had gained 0.49% to end at Rs 2250.10 on the BSE today. Powered by Capital Market - Live

The Board of Directors of Navam Lanka, Sri Lanka, a step-down subsidiary of the company in which Gravita Group through Gravita Netherlands B.V. is holding 52% of its share capital (herein after 'NLL' ) has completed the repurchase/buyback of 2,29,087 shares from its existing shareholders representing 25.56% of its total stated capital. The price per share for buyback was LKR 3,530 per share and total buyback value is approx. Rs 23.00 crore which will be paid to shareholders from the reserves and surplus of Navam Lanka. Further Gravita Netherlands B.V., a step-down subsidiary of the company and one of the shareholder of Navam Lanka has not participated in the said buyback and 2,29,087 shares have been tendered by other shareholders in the buyback. Now, consequent to repurchase/buyback of 2,29,087 shares of Navam Lanka, the shareholding of Gravita Netherlands BV has increased from 52% to 69.85%.Powered by Capital Market - Live