Gravita India Limited — Investor Meet, 07-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Gravita India posted record FY25 revenue of INR3,869 Cr (+22% YoY), adjusted EBITDA of INR404 Cr (+22%) with steady 10.43% margins, and PAT of INR312 Cr (+31%), driven by strong execution and 5-year PAT CAGR of 57%. Q4 saw 20% revenue growth to INR1,037 Cr, EBITDA up 17% to INR109 Cr, and PAT rising 38% to INR95 Cr. Capacity expansion to 7 lakh MTPA by FY28 is underway, supported by INR1,500 Cr capex targeting lithium-ion, rubber, paper, and steel recycling. Domestic scrap sourcing rose to 43%, boosting volumes and inventory efficiency. Management highlighted a strategic European acquisition (INR40 Cr invested) and pilot scaling in lithium-ion and rubber recycling by H1 FY26. They project 20-30% annual volume growth over three years, with ROIC steady at 27%. Value-added products now represent 46% of revenue, targeting 50% by FY29. Tolling constitutes ~85% of India volumes, with new clients like Exide contributing to volume gains. Management stays confident on growth, margin expansion, and ESG commitments amid a flexible global model.