Gravita continues to deliver strong performance in Q1 FY2024

EBITDA for Q1 FY 2024 stood at Rs. 80 crores as compared to Rs. 65 crores in Q1 FY 2023, depicting a growth of 24% on Y-o-Y basis. EBITDA margins stood at ~11% and company continues to maintain resilient margins despite increasing cost pressure across major raw materials during the quarter. Profit after Tax was Rs. 52 crores as compared to Rs. 43 crores in Q1 FY2023, depicting a growth of 22% on Y-o-Y basis. PAT margins were ~7.40%.

Recently, company has Started Commercial Production of Rubber in Tanzania, and increased production capacity at its Chittoor and Mundra Plant.

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.

Gravita is a leading global recycling company with 12 eco-conscious state-of-the-art manufacturing facilities with a capacity of 2,78,059 MTPA. The Group is having global footprints in 70+ countries having recycling DNA of 30 years with 5 business verticals. The company is amongst top 600 listed companies on NSE and BSE Ltd. 

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