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Gravita India posted strong Q2 and H1 FY26 results, driven by operational efficiencies and value-added products. Revenue grew double-digits with PAT up over 30% YoY in both periods. The company plans significant capacity expansion from 3.4 to over 7 lakh MTPA by FY28 with INR1,225 Cr capex. This includes lead facilities commissioning by early FY26 and a pilot lithium-ion unit by Q3 FY26. Management is confident in achieving >25% volume CAGR and >35% profitability growth, supported by stricter waste management rules increasing domestic scrap and continued diversification. Lead margins are now sustainably expected at INR19-20/kg.