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Regulatory approval delays for capacity expansion
View Risks →Gravita India Limited — Q3 FY26
Gravita India reported a mixed Q3 FY26 with revenue flat at ₹1,017 crore YoY, but EBITDA grew 13% to ₹116 crore and PAT surged 32% to ₹97.67 crore, driven by operating efficiencies and mix improvements.
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Gravita India reported a mixed Q3 FY26 with revenue flat at ₹1,017 crore YoY, but EBITDA grew 13% to ₹116 crore and PAT surged 32% to ₹97.67 crore, driven by operating efficiencies and mix improvements. Lead volumes grew modestly, plastics rebounded 55% QoQ, but aluminium volumes declined due to scrap hoarding amid rising metal prices. Management maintained its medium-term volume CAGR target of 25% and guided for 30-35% bottom-line growth, though near-term volume growth remains constrained by delayed capacity expansions. Key risks include regulatory approval delays for new capacities and aluminium margin volatility from lack of hedging. The company is expanding into lithium-ion, rubber, steel, and paper recycling, with a total capex of ₹1,225 crore planned through FY28.
ग्रवीता इंडिया ने तीसरी तिमाही में मिला-जुला प्रदर्शन दिखाया। कमाई 1,017 करोड़ रुपये पर स्थिर रही, लेकिन परिचालन मुनाफा 13% बढ़कर 116 करोड़ और शुद्ध मुनाफा 32% बढ़कर 97.67 करोड़ रुपये हो गया। यह कंपनी की कुशलता और बेहतर उत्पाद मिश्रण से हुआ। सीसे की बिक्री थोड़ी बढ़ी, प्लास्टिक रीसाइक्लिंग में 55% का उछाल आया, लेकिन एल्युमीनियम की बिक्री घट गई क्योंकि लोगों ने कीमतें बढ़ने के डर से स्क्रैप जमा कर लिया। कंपनी का लक्ष्य अगले कुछ सालों में हर साल 25% अधिक उत्पाद बेचने का है और मुनाफा 30-35% बढ़ाने का अनुमान है। हालांकि, नई फैक्ट्रियों के खुलने में देरी से फिलहाल बिक्री बढ़ाना मुश्किल है। कंपनी लिथियम-आयन, रबर, स्टील और कागज रीसाइक्लिंग में भी कदम रख रही है और 2028 तक 1,225 करोड़ रुपये का निवेश करेगी।
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Lead volume sold
46,269 tons
+5% YoY
Lead volumes grew steadily YoY and QoQ, driven by stable demand and scrap availability.
Plastic volume sold
3,160 tons
+55% QoQ
Plastic volumes rebounded strongly sequentially, reflecting improved demand and capacity utilization.
Aluminium volume sold
3,550 tons
-50% YoY
Aluminium volumes declined sharply due to scrap hoarding by aggregators amid rising metal prices.
Lead EBITDA per ton
₹23,000
+15% YoY
Lead per-ton margins exceeded the guided range of ₹19,000-20,000, aided by arbitrage opportunities.
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Management reiterated its target of 25% volume CAGR, with capacity expansions expected to drive growth from Q4 FY26 onwards.
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