Gravita India Shines Bright with Strong Financial Performance for Q4 and FY23, Boasts Revenue Growth and Debt Reduction

• 45% Revenue from Value added products
• 38% Revenue from Overseas Business
• 46% Domestic scrap collection for Indian Plants
• Sales Volume at 41,490 MT, growth of 11%

Operational Highlights for FY23

• Company generated Rs. 200 Crore Operating Cashflow
• Capex during the year Rs. 110 Crore 
• Rs. 40 Crore + Reduction in Debt
• Net Working Capital Cycle stood at 83 Days
• 37% Revenue from Overseas Business
• 51% PAT from Overseas Business
• ROCE stood at 29%

Gravita India continues to maintain its leadership position in recycling industry and is well positioned to tap emerging opportunities as focus moves on creating circular economies. Management remains committed to move forward on its long-term growth plan, with a prudent approach and create value for all stakeholders.

Commenting on the Performance Mr. Rajat Agrawal; Managing Director Gravita India Said

“We are pleased to announce our strong financial results for the quarter and year ended March 31, 2023, with significant growth achieved in our value-added products and overseas business. We remain committed to creating value for our stakeholders and are excited to launch new recycling verticals in rubber, lithium, steel, and paper. 

Our ambitious Vision 2027 growth plan aims to achieve a revenue CAGR of 25% or more, with a focus on value-added products and non-lead business. To achieve this, we plan to enhance our capacity to 4,25,000 MTPA by FY 2026, with a capex investment of Rs. 600+ Crore. We are confident that our prudent approach and focus on creating a circular economy will drive sustainable growth for our company and create long-term value for all our stakeholders.”

About Gravita India Limited

Gravita is a leading global recycling company with 14 eco-conscious state-of-the-art manufacturing facilities in Asia, Africa and Central America with a capacity of 2,27,719 MTPA. The Group is having global footprints in 70+ countries having recycling DNA of 30 years with 5 business verticals. The company is amongst top 1000 listed companies on NSE and BSE Ltd. 

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.