Gravita India Ltd logo

Gravita India Ltd

GRAVITA NSE

Established in 1992, Gravita India Ltd is one of the largest lead producer in India. The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminum recycling, Plastic recycling and Turnkey projects. The company also has expertise in the recycling of used batteries, cable scrap/other Lead scrap, Aluminum scrap, Plastic scrap, etc.

AI Verdict: BUY Confidence: 7%

Gravita India offers compelling growth with 46% profit CAGR over 5 years and unanimous analyst buy ratings (9/9). However, the stock trades at a PE of 34x with declining ROE (from 24% 5-year average to 17% last year), suggesting investors should accumulate on dips rather than chase at current levels.

Key Fundamentals

MicrocapIndustrial MineralsMetals & Mining
Market Cap
₹12,569 Cr
Volatility
Moderate
P/E Ratio
32.55
EBITDA
₹435 Cr
Return on Equity
33.92%
Debt to Equity
0.29
Book Value
₹332.16
EPS
₹36.86
52W High
₹1,949
52W Low
₹1,266.9

Technical Indicators

Key Insights

Strengths

2
  • Company has delivered good profit growth of 46.0% CAGR over last 5 years
  • Company's median sales growth is 22.2% of last 10 years

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -17.1%

Growth Rate

Revenue Growth
7.15% ↘
Net Income Growth
21.06% ↗
Cash Flow Change
565.52% ↗
ROE
-47.12% ↘
ROCE
-38.72% ↘
EBITDA Margin (Avg.)
-8.49% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
BUY
Risk medium

Gravita India offers compelling growth with 46% profit CAGR over 5 years and unanimous analyst buy ratings (9/9). However, the stock trades at a PE of 34x with declining ROE (from 24% 5-year average to 17% last year), suggesting investors should accumulate on dips rather than chase at current levels.

Bull Case 8
  • Exceptional profit growth of 46% CAGR over 5 years far exceeds sector averages for commodity companies
  • Unanimous analyst consensus with 100% buy ratings from all 9 analysts covering the stock
  • Remarkable stock price CAGR of 70% over 5 years and 59% over 10 years demonstrates sustained wealth creation
  • Consistent sales growth with 10-year CAGR of 26% and median sales growth of 22.2% over last 10 years
  • TTM profit growth of 23% remains healthy despite a slowing macro environment
  • 5-year average ROE of 24% indicates efficient capital allocation in a capital-intensive recycling business
  • Market cap of Rs 12,719 Cr provides sufficient liquidity while still offering mid-cap growth runway
  • TTM sales growth of 10% shows continued top-line momentum even in a potentially challenging commodity cycle
Bear Case 8
  • Promoter holding has decreased by 17.1% over last 3 years, signaling potential lack of insider confidence
  • ROE has declined sharply from 24% (5-year average) to 17% last year, indicating deteriorating return efficiency
  • PE ratio of 34x is elevated for a commodities sector company, leaving limited margin of safety
  • Price-to-book of 5.25x is expensive for an asset-heavy recycling business, pricing in significant future growth
  • Stock price CAGR has decelerated dramatically from 42% (3-year) to just 3% (1-year), suggesting momentum fatigue
  • Sales growth has decelerated from 25% (5-year CAGR) to 10% TTM, indicating potential volume or pricing headwinds
  • Dividend yield of only 0.36% offers minimal income cushion during potential market corrections
  • 3-year profit CAGR of 23% versus 5-year CAGR of 46% shows a clear deceleration in earnings growth trajectory

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 1
  • Mundra plant gets LME accreditation Jun 17

    Gravita India's Mundra plant secured LME brand accreditation for lead metal, listed as 'GRAVITA M', making it eligible for delivery at LME warehouses worldwide. This enhances global market access and pricing credibility.

Neutral 4
  • Overseas investor roadshow Hong Kong/Singapore Jun 3

    Gravita held analyst meetings from June 8-10 in Hong Kong and Singapore with Kotak, signalling active engagement with international institutional capital.

  • Q1FY27 investor presentation shared Jun 15

    Gravita India executives held a meeting with institutional investors on June 15 and made the Q1FY27 presentation available on the company website.

  • Multiple domestic analyst meets scheduled Jun 9

    Virtual meetings scheduled with Ashika Institutional Equities (Jun 16), NKSquared (Jun 24), Habrok Capital (Jun 26), and Asian Markets Securities (Jun 19).

  • Institutional one-on-one meetings held Jun 22

    Gravita executives held one-on-one meetings with institutional investors on June 10 and June 22. Meetings also held with Skyridge Growth Fund (Jun 19) and Quantum AMC (Jun 22). No UPSI shared.

TL;DR: Gravita India's newsflow is dominated by high-frequency investor engagement across domestic and international institutions, indicating strong buy-side interest. The standout development is LME brand accreditation for the Mundra plant, which validates product quality and opens global delivery channels. No material headwinds surfaced in this period. The trend is constructive, with the company actively building institutional visibility ahead of potential capacity or market expansion.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
749
703
836
758
863
908
927
996
1,037
1,040
1,036
1,017
1,173
Expenses
686
645
764
677
791
820
864
916
945
939
933
897
1,060
Operating Profit
63
58
73
80
72
88
63
81
92
101
102
120
113
OPM %
8%
8%
9%
11%
8%
10%
7%
8%
9%
10%
10%
12%
10%
Other Income
23
23
14
15
25
7
40
29
36
30
26
12
9
Interest
10
13
11
13
12
13
12
13
6
6
8
7
4
Depreciation
7
8
9
9
12
7
7
8
8
9
9
10
11
PBT
70
61
67
74
72
75
85
89
115
116
111
115
106
Tax %
8%
14%
12%
17%
4%
9%
15%
12%
17%
20%
14%
15%
13%
Net Profit
64
53
59
61
69
68
72
78
95
93
96
97
92
EPS in Rs
9.24
7.54
8.38
8.73
9.99
9.75
10.43
10.56
12.89
12.64
13.01
13.23
12.45
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
501
430
655
1,017
1,242
1,348
1,410
2,216
2,801
3,161
3,869
4,265
Expenses
480
412
596
926
1,180
1,239
1,288
1,998
2,594
2,873
3,541
3,830
Operating Profit
20
18
59
92
62
109
121
217
207
287
328
435
OPM %
4%
4%
9%
9%
5%
8%
9%
10%
7%
9%
8%
10%
Other Income
4
3
1
2
5
-12
1
6
88
76
111
77
Interest
11
9
11
20
26
31
31
38
44
52
46
25
Depreciation
6
7
6
9
12
18
20
21
24
38
29
39
PBT
7
6
44
64
30
47
71
165
228
274
363
448
Tax %
-33%
8%
19%
26%
34%
22%
20%
10%
10%
12%
14%
16%
Net Profit
10
5
35
48
19
37
57
148
204
242
313
378
EPS in Rs
0.97
0.64
4.78
6.42
2.25
4.81
7.6
20.19
29.13
34.65
42.32
51.32
Div. Payout %
21%
31%
13%
11%
13%
15%
14%
15%
15%
15%
15%
12%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
14
14
14
14
14
14
14
14
14
14
15
15
Reserves
102
105
136
176
186
211
255
373
575
824
2,055
2,437
Borrowings
103
99
166
233
250
279
261
392
348
548
286
736
Other Liabilities
31
22
39
70
123
110
196
219
268
217
159
229
Total Liabilities
250
240
355
492
573
614
726
998
1,205
1,602
2,515
3,417
Fixed Assets
54
54
68
109
137
182
172
191
273
348
436
939
CWIP
6
15
32
24
46
15
13
42
46
43
39
48
Investments
0
0
0
0
0
0
0
0
1
16
528
413
Other Assets
190
170
255
359
390
418
540
764
885
1,194
1,512
2,017
Total Assets
250
240
355
492
573
614
726
998
1,205
1,602
2,515
3,417
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0
29
1
-3
89
34
77
10
200
42
282
169
Investing
-2
-10
-49
-42
-66
-14
-19
-69
-105
-158
-864
-364
Financing
6
-17
49
40
-17
-21
-57
72
-87
121
640
178
Net Cash Flow
3
2
2
-4
6
-2
1
12
7
5
59
-17
Free Cash Flow
-4
15
-46
-42
21
19
55
-61
93
-56
175
-46
CFO/OP
5
164
6
9
164
41
73
11
108
32
101
54
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
19
25
34
41
28
18
15
18
18
31
26
37
Inventory Days
81
77
77
72
64
75
115
107
95
96
71
109
Days Payable
12
8
10
21
35
29
44
7
14
10
5
7
Cash Conversion Cycle
88
94
101
91
58
65
87
119
99
117
92
139
Working Capital Days
34
35
24
18
4
16
32
40
43
66
78
115
ROCE %
9%
7%
20%
23%
13%
19%
21%
31%
32%
28%
22%
17%

Shareholding Pattern

As of Mar 2026
Promoters 55.88%
Public 18.16%
FIIs 13.94%
Others 6.88%
DIIs 5.14%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
73.00%
73.00%
73.00%
73.00%
73.00%
73.00%
73.00%
73.00%
73.00%
66.48%
66.48%
66.48%
66.48%
63.37%
63.37%
59.27%
59.27%
55.88%
55.88%
55.88%
55.88%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
9.99%
10.58%
11.08%
13.40%
14.01%
14.12%
14.03%
15.09%
14.66%
15.76%
13.94%
DIIs
0.25%
0.00%
0.00%
0.00%
0.00%
0.00%
0.19%
0.21%
0.25%
0.39%
0.43%
0.43%
0.44%
2.61%
3.21%
5.42%
5.43%
4.41%
4.87%
4.71%
5.14%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
22.93%
22.40%
21.45%
20.67%
20.94%
21.29%
19.92%
17.48%
17.74%
17.77%
17.73%
17.59%
17.19%
15.03%
14.32%
15.54%
15.76%
18.51%
18.61%
17.36%
18.16%
Others
3.82%
4.60%
5.55%
6.33%
6.06%
5.71%
6.89%
9.32%
9.00%
15.35%
5.37%
4.91%
4.81%
5.59%
5.09%
5.65%
5.50%
6.11%
5.98%
6.29%
6.88%
No. of Shareholders
0
18,708
23,041
34,404
38,136
43,751
43,826
44,118
53,190
62,916
76,242
81,524
75,335
75,740
97,869
1,22,858
1,26,954
1,50,647
1,60,487
1,46,728
1,51,337

Documents

1
Concall - Mar 2018 Mar 2018
2
Concall - Mar 2019 Mar 2019
3
Concall - Aug 2019 Aug 2019
4
Concall - Aug 2019 Aug 2019
5
Concall - Aug 2019 Aug 2019

Frequently Asked Questions about Gravita India Ltd

What does Gravita India Ltd do?
Established in 1992, Gravita India Ltd is one of the largest lead producer in India. The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminum recycling, Plastic recycling and Turnkey projects. The company also has expertise in the recycling of use...
Where is Gravita India Ltd (GRAVITA) listed?
Gravita India Ltd is listed on the Indian stock exchanges. It is listed on NSE: GRAVITA and BSE: 533282. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Gravita India Ltd belong to?
Gravita India Ltd operates in the Commodities sector within the Minerals & Mining industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Gravita India Ltd?
Gravita India Ltd has a market capitalisation of approximately ₹12568.84 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Gravita India Ltd?
The Price-to-Earnings (PE) ratio of Gravita India Ltd is 32.55. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Gravita India Ltd?
Over the past 52 weeks, Gravita India Ltd has traded between a low of ₹1,266.9 and a high of ₹1,949. This range helps investors understand the stock's price volatility and recent trading levels.
Does Gravita India Ltd pay dividends?
Yes, Gravita India Ltd has a dividend yield of 0.37%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Gravita India Ltd?
Gravita India Ltd has a Return on Equity (ROE) of 33.92%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Gravita India Ltd on Tapetide?
On Tapetide, you can view Gravita India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Established in 1992, Gravita India Ltd is one of the largest lead producer in India. The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminum recycling, Plastic recycling and Turnkey projects. The company also has expertise in the recycling of used batteries, cable scrap/other Lead scrap, Aluminum scrap, Plastic scrap, etc.

Website gravitaindia.com
CEO Mr. Rajat Agrawal
Employees 3,116
Listed 2010-11-16
Face Value ₹ 2
Issued Size 7,38,08,451

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