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Gravita India Ltd

GRAVITA NSE

Key Fundamentals

MicrocapIndustrial MineralsMetals & Mining
Market Cap
₹13,398 Cr
Volatility
Moderate
P/E Ratio
34.16
EBITDA
₹435 Cr
Return on Equity
15.06%
Debt to Equity
0.3
Book Value
₹332.16
EPS
₹36.86
52W High
₹1,913.6
52W Low
₹1,266.9

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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52 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

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: -10.6%

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 8d ago
AI opinion · based on fundamentals
Risk medium

Gravita India is a mid-cap recycling company with a market cap of ~₹12,908 Cr trading at a PE of 32.6x. It delivered FY2025 revenue of ₹3,869 Cr (up 22% YoY) and PAT of ₹312 Cr (up 31% YoY), with a 5-year profit CAGR of 46%, though its stock has declined 3% over the past year and promoter holding has fallen by 10.6% over three years.

Bull Case 8
  • FY2025 PAT grew 31% YoY to ₹312 Cr, with a 5-year compounded profit CAGR of 46%
  • FY2025 revenue rose 22% YoY to ₹3,869 Cr, with a 10-year sales CAGR of 26% and median sales growth of 22.2%
  • Company achieved net debt-free status after raising ₹1,000 Cr via QIP, strengthening balance sheet for growth
  • 5-year ROE averages 24%, indicating efficient capital deployment over a sustained period
  • Targeting 25%+ volume CAGR and 35%+ profitability growth by 2029 through expansion into rubber recycling and other new verticals
  • FY2025 adjusted EBITDA grew 22% to ₹404 Cr, maintaining EBITDA margin at ~10.4%
  • 14-year unbroken dividend track record with interim dividend of ₹6.35 per share declared in FY2025
  • Stock has delivered a 10-year CAGR of 49%, reflecting long-term value creation
Bear Case 8
  • PE of 32.6x is elevated for a metals/recycling business with EBITDA margins of only ~10.4%, leaving limited margin of safety
  • Promoter holding has decreased by 10.6% over the last 3 years, signaling potential dilution or reduced promoter conviction
  • Stock has returned -3% over the past 1 year despite strong earnings growth, suggesting the market is repricing valuations
  • Last year ROE declined to 17% from a 3-year average of 21% and 5-year average of 24%, indicating potential return compression
  • EBITDA margin remained flat at ~10.4% in FY2025 vs 10.5% prior year, showing limited operating leverage despite revenue scale-up
  • Price-to-book of 5.21x is high for a capital-intensive recycling business, pricing in significant future growth
  • Dividend yield of only 0.37% provides minimal income cushion for investors during periods of capital depreciation
  • Expansion into new verticals like rubber recycling (Romania acquisition at ₹39 Cr) carries execution and integration risk in unfamiliar geographies

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2d ago
Headwinds 1
  • EBITDA margin contracts to 9.52% Jul 29

    Despite strong revenue growth, EBITDA margin contracted to 9.52% in Q1FY27 versus higher levels in the prior year, indicating cost pressures even as topline scaled up.

Positives 3
  • Revenue surges 42% YoY Q1FY27 Jul 30

    Gravita India reported Q1FY27 revenue of ₹1,475 crore, up 42% YoY, driven by higher capacity utilization and value-added products. EBITDA grew 29% to ₹145 crore.

  • ICRA upgrades credit rating to AA Jul 30

    ICRA upgraded Gravita India's credit rating to AA alongside strong Q1FY27 results, reflecting improved financial profile and creditworthiness.

  • PAT grows 14% to ₹106.37 crore Jul 29

    Consolidated net profit rose 14% to ₹106.37 crore in Q1FY27 from ₹93.06 crore in Q1FY26, with total income reaching ₹1,522.60 crore.

Neutral 3
  • Q1FY27 institutional investor meeting Aug 7

    Gravita India hosted an institutional investor meeting on August 7, 2026 to present Q1FY27 updates; no unpublished price-sensitive information was disclosed.

  • Scheduled meets with fund houses Aug 3

    Gravita India scheduled virtual one-on-one meetings with Arika Capital (Aug 11) and Mirabilis Investment Trust (Aug 6) under SEBI LODR regulations.

  • Q1FY27 earnings call on Jul 28 Jul 21

    Gravita India held its post-results conference call on July 28, 2026, organized by Antique Stock Broking, featuring CEO and CFO. Audio was subsequently uploaded to its website.

TL;DR: Gravita India delivered a strong Q1FY27 with 42% revenue growth and a credit rating upgrade to AA, signaling robust operational momentum in the metals recycling space. PAT grew a healthy 14% though EBITDA margin compression to 9.52% suggests input cost pressures need monitoring. Active institutional engagement indicates sustained investor interest. The growth trajectory is clearly positive, but sustaining margins at higher utilization levels will be key to watch in coming quarters.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
703
836
758
863
908
927
996
1,037
1,040
1,036
1,017
1,173
1,475
Expenses
645
764
677
791
820
864
916
945
939
933
897
1,060
1,365
Operating Profit
58
73
80
72
88
63
81
92
101
102
120
113
110
OPM %
8%
9%
11%
8%
10%
7%
8%
9%
10%
10%
12%
10%
7%
Other Income
23
14
15
25
7
40
29
36
30
26
12
9
48
Interest
13
11
13
12
13
12
13
6
6
8
7
4
11
Depreciation
8
9
9
12
7
7
8
8
9
9
10
11
14
PBT
61
67
74
72
75
85
89
115
116
111
115
106
131
Tax %
14%
12%
17%
4%
9%
15%
12%
17%
20%
14%
15%
13%
19%
Net Profit
53
59
61
69
68
72
78
95
93
96
97
92
106
EPS in Rs
7.54
8.38
8.73
9.99
9.75
10.43
10.56
12.89
12.64
13.01
13.23
12.45
14.41
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
501
430
655
1,017
1,242
1,348
1,410
2,216
2,801
3,161
3,869
4,265
4,700
Expenses
480
412
596
926
1,180
1,239
1,288
1,998
2,594
2,873
3,541
3,830
4,256
Operating Profit
20
18
59
92
62
109
121
217
207
287
328
435
444
OPM %
4.1%
4.3%
9%
9%
5%
8%
9%
10%
7%
9%
8%
10%
9%
Other Income
4
3
1
2
5
-12
1
6
88
76
111
77
94
Interest
11
9
11
20
26
31
31
38
44
52
46
25
30
Depreciation
6
7
6
9
12
18
20
21
24
38
29
39
45
PBT
7
6
44
64
30
47
71
165
228
274
363
448
464
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
392
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
53.1
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 Jun 2026
Promoters 55.88%
Public 19.10%
FIIs 12.85%
Others 6.65%
DIIs 5.51%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
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%
12.85%
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%
5.51%
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%
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%
19.10%
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%
6.65%
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
1,57,641

Documents

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 Metals & Mining sector within the Industrial Minerals 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 ₹13398.45 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 34.16. 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 ₹1,913.6. 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 0.35%. 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 15.06%. 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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