Friday, May 24th, 2024

Gravita India Limited Announces Q3 FY24 Results, Showcasing Remarkable 20 per cent Surge in PAT

Mumbai (Maharashtra) [India], January 25: Gravita India, a leading recycling company in India, today announced its unaudited financial results for the quarter ended 31st December 2023.

Q3 FY24 Consolidated Financials:

• Revenue of ₹ 758 Cr, YoY Change -4 %

• EBITDA of ₹ 89.68 Cr, YoY growth of 26 %

• EBITDA Margin of 11.82 %, YoY growth of 293 Bps

• PAT of ₹ 60.27 Cr, YoY growth of 20 %

• PAT Margin of 7.95 %, YoY growth of 143 Bps

• EPS of ₹ 8.74, YoY growth of 18 %

Q3 FY24 Operational Highlights

In Q3 FY24, the recycling volume for Lead was 34,488 MT, Aluminum stood at 3,264 MT, and Plastic reached 2,458 MT. 

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 Yogesh Malhotra; Whole-time Director & CEO of Gravita India said, Gravita is strongly progressing towards achieving its ambitious Clear Vision 2027 focusing on diversifying into new business verticals, attaining a revenue cagr and profitability growth of 25%+ and 35%+. Our strategies of expanding the capacities, increasing the proportion of value-added products and back-to-back hedging for risk mitigation has shown results in the form of strong and sustainable margins. We are confident that, with the same level of commitment and teamwork, we will achieve our mission to Rank among the top five global recycling companies by 2026.

Coming to Q3 & 9MFY24 performance, I am pleased to report that our company has delivered a strong financial & operational performance. Volumes, Revenue, EBITDA and PAT for nine months have increased by 5%, 12%, 19% and 24% resp. ROCE and proportion of Value-added products for 9MFY24 stood strong at 26% and 47% respectively. With the support of all the stakeholders, we are confident that we will be able to achieve our Vision 2027.”

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