Please find enclosed earning call transcript for the quarter and year ended 31st March, 2026
GRAVITA · price
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Gravita India reported FY26 revenue of INR 4,265 crores (10% YoY growth) with EBITDA of INR 452.48 crores (12% growth) and PAT of INR 378.80 crores (21% growth). The company achieved strong 5-year CAGRs of 25% in revenue, 49% in EBITDA, and 31% in PAT. Key strategic developments include the acquisition of Rashtriya Metal Industries (RML) for INR 560 crores to enter copper, expansion of lead recycling capacity at Mundra to 145,100 MTPA, and commissioning of a pilot lithium-ion battery recycling facility. Management guided total CAPEX of INR 1,700 crores through FY29, with copper representing INR 700 crores of this. The company faces short-term headwinds from Middle East geopolitical disruptions affecting 10-12% of sales and expects Q1 FY27 margins to be impacted, though maintaining a 20-25% volume growth target for the year.
The copper diversification and capacity expansion plans are positive long-term signals, but near-term margin pressure from Middle East disruptions and higher working capital needs (expected net debt to rise to INR 800-900 crores) may weigh on near-term performance.