Gravita India, a leading recycling company in India, today announced its financial results for the quarter/nine months ended 31st December 2022.
Key Financial Highlights Q3 FY23- Consolidated
- Revenue from Operations of Rs. 792 Crores, YoY growth of 42 per cent
- Adj. EBITDA of Rs 71 Crore, YoY growth of 31 per cent
- PAT of Rs. 50 Crore, YoY growth of 28 per cent
- Started Commercial Production of Aluminum in Senegal
- Started Commercial Production of Aluminum in Togo
- Started Commercial Production of Plastic in Ghana
Key Financial Highlights 9M FY23- Consolidated
- Revenue from Operations of Rs. 2054 Crores, YoY growth of 33 per cent
- Adj. EBITDA of Rs. 201 Crore, YoY growth of 41 per cent
- PAT of Rs. 137 Crore, YoY growth of 40 per cent
Gravita India delivered a strong financial performance in Q3 FY23. In Q3 FY23, Revenues stood at Rs 792 crores, registering a growth of 42 per cent on Y-o-Y basis. The Revenue growth was supported by increasing sales volumes and better realizations. Overall sales volumes increased by 34 per cent on a Y-o-Y basis.
EBITDA for the year was Rs. 71 crores as compared to Rs. 54 crores in Q3 FY22, depicting a growth of 31 per cent on Y-o-Y basis. EBITDA margins stood at ~9 per cent and company continues to maintain resilient margins despite increasing cost pressure across major raw materials during the quarter. Profit after Tax was Rs. 50 crores as compared to Rs 39 crores in Q3 FY22, depicting a growth of 28 per cent on Y-o-Y basis. PAT margins were ~6.34 per cent.
Recently, company has Started Commercial Production of Aluminum in Senegal, Started Commercial Production of Aluminum in Togo, Started Commercial Production of Plastic in Ghana
The Company has incurred capital expenditure of approximately Rs 16.40 crores for installing and commissioning the above three plants.
Gravita India continues to maintain its leadership position in the recycling industry and is well-positioned to tap emerging opportunities as the focus moves on creating circular economies. Management remains committed to moving forward on its long-term growth plan, with a prudent approach and creating value for all stakeholders.
Commenting on the Performance Rajat Agrawal; Managing Director Gravita India Said, "We are extremely happy with our performance in this quarter. Our strong revenue and profitability show the strength and scalability of our business model. Our endeavour is to provide a clean and green future and at the same time create superior value for all our stakeholders. We are committed to achieving our 2026 vision and are taking all the necessary actions for the same."
Gravita is a leading global recycling company with 14 eco-conscious state-of-the-art manufacturing facilities in Asia, Africa and Central America with a capacity of 2,27,719 MTPA. The Group is having global footprint in 70+ countries having a recycling DNA of 30 years with 5 business verticals. The company is amongst the top 1000 listed companies on NSE and BSE Ltd.
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( With inputs from ANI )
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