Gravita reported 215% growth in PAT, Board recommended 150% dividend

Jaipur, India, January 29, 2022:  Gravita India, a leading recycling company in India, today announced its financial results for the third quarter ending December 31, 2021.

Key Financial Highlights 9M FY2022- Consolidated

• Revenue from Operations of Rs. 1549 Crores, YoY growth of 60%
• EBITDA of Rs. 142 Crore, YoY growth of 75%
• PAT of Rs. 98 Crore, YoY growth of 215%

Key Financial Highlights Q3 FY2022- Consolidated

• Revenue from Operations of Rs. 557 Crores, YoY growth of 49%
• EBITDA of Rs. 54 Crore, YoY growth of 69%
• PAT of Rs. 39 Crore, YoY growth of 150%
• Board of Directors announced interim dividend of 150% i.e. Rs. 3.00 per share

Gravita India delivered another quarter with a strong financial performance. In Q3 FY2022, Revenues stood at Rs. 557 crores, registering a growth of 49% on Y-o-Y basis. The Revenue growth was supported by increasing production volumes, better realizations and a favorable macro-economic scenario. Overall production volumes increased by 16% on a Y-o-Y basis.

EBITDA for the quarter was Rs. 54 crores as compared to Rs. 32 crores in Q3 FY21, a growth of 69% on Y-o-Y basis. EBITDA margins stood at 9.7% and company continues to maintain resilient margins despite increasing cost pressure across major raw materials during the quarter. Profit after Tax was Rs. 39 crores as compared to Rs. 16 crores in Q3 FY21, a growth of 150% on Y-o-Y basis. PAT margins were 7.06%.

The Board of Directors announced interim dividend of 150% i.e. Rs. 3.00 per share

In Q3FY22, company has announced operationalization of new recycling unit at Mundra Port, Gujarat. The 48,000 MTPA plant (with 19,500 MTPA operational in Phase-I), with a strategic location and equipped with state-of-the-art facilities, is expected to increase share of higher-margin business from the overseas market and enhance operational efficiency and profitability. Capital expenditure of Rs. 32 crores had been incurred and additional Rs. 30 crores outlined for further capacity increase.

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.

Gravita is a leading global recycling company with 13 eco-conscious state-of-the-art manufacturing facilities in Asia, Africa and Central America with a capacity of 1,82,619 MTPA. The Group is having global footprints in 70+ countries having recycling DNA of 29 years with 4 business verticals. The company is amongst top 1000 listed companies on NSE and BSE Ltd with market capitalization of ~ 2200 crores.