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GRAVITAINDIA Diversified 15 May 2026

Gravita India Limited — Q4 FY26

Gravita India reported a strong Q4 FY26 with revenue of ₹1,172.76 crore (+13% YoY) and EBITDA of ₹112.91 crore (+4% YoY), though margins compressed to 9.63% due to Middle East disruptions impacting value-added product sales.

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Revenue ₹1,173 Cr +13%
EBITDA ₹113 Cr +4%
PAT ₹92 Cr
EBITDA Margin 9.63%
Duration 65 min
Read Time 1 min read

✓ Verified against BSE filing

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Gravita India reported a strong Q4 FY26 with revenue of ₹1,172.76 crore (+13% YoY) and EBITDA of ₹112.91 crore (+4% YoY), though margins compressed to 9.63% due to Middle East disruptions impacting value-added product sales. Full-year revenue grew 10% to ₹4,265 crore and PAT rose 21% to ₹378.80 crore, driven by capacity additions and operational efficiencies. The company is aggressively expanding into copper, lithium-ion, and rubber recycling, with a total capex plan of ₹1,700 crore through FY29. Management guided for 20-25% volume CAGR over the next three years, with copper EBITDA per ton expected to rise from ₹45,000 to ₹65,000 post-backward integration. Key risk: Middle East tensions could continue to pressure near-term margins and delay volume recovery in value-added segments.

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Middle East disruption impact on margins

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Quarter Snapshot

Total Volume (FY26) 56,286 MT
+5% YoY

Total sales volume for FY26, driven by lead segment growth of 7%.

Lead EBITDA per ton ₹22,000
flat YoY

Sustainable lead EBITDA per kg guided at ₹19-20/kg, with temporary arbitrage opportunities.

Copper EBITDA per ton (RML) ₹45,000
N/A

Current EBITDA per ton for RML; expected to rise to ₹65,000 with backward integration.

Capacity target (FY29) 800,000 MT
+75% vs current

Total installed capacity target by FY29, up from 457,000 MT currently.

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Guidance and risk preview

Top guidance Volume CAGR of 20-25% over next 3 years

Management expects 20-25% volume CAGR consistently for the next three years, with FY27 slightly higher due to catch-up from FY26.

Top risk Middle East disruption impact on margins

Geopolitical tensions in the Middle East have disrupted value-added product sales and increased logistics costs, pressuring near-term margins.

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