Lan kwai fong, Street in Hong Kong, Asia

Gravita India, a leading recycling company in India, today announced its financial results for the quarter/half year ended 30th September 2022.Key Financial Highlights Q2 FY2023- ConsolidatedRevenue from Operations of Rs 683 Crores, YoY growth of 25 per centAdj. EBITDA of Rs 65 Crore, YoY growth of 29 per centPAT of Rs 45 Crore, YoY growth of 21 per centStarted commercial production of Recycling of Poly-propylene granules in GhanaStarted commercial production of Aluminium in SenegalKey Financial Highlights H1 FY2023- ConsolidatedRevenue from Operations of Rs 1,262 Crores, YoY growth of 27 per centAdj. EBITDA of Rs 130 Crore, YoY growth of 48 per centPAT of Rs 87 Crore, YoY growth of 48 per centGravita India delivered a strong financial performance of Q2 FY2023. In Q2 FY2023, Revenues stood at Rs 683 crores, registering a growth of 25 per cent on Y-o-Y basis. The Revenue growth was supported by increasing sales volumes by ~ 17 per cent.EBITDA for the quarter was Rs 65 crores as compared to Rs 50 crores in Q2 FY2022, depicting a growth of 29 per cent on Y-o-Y basis. EBITDA margins stood at ~10 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. 45 crores as compared to Rs. 37 crores in Q2 FY2022, depicting a growth of 21 per cent on Y-o-Y basis. PAT margins were ~7 per cent.Recently, a step down subsidiary of company has Started commercial production of Recycling of Poly-propylene granules in Ghana having an annual capacity of around 1,200 MTPA in phase 1. Further, company has plans to increase this capacity to 2,700 MTPA in next phase.The company is already having similar plastic recycling facility in Senegal, Mozambique and India. Further, this is in line with the company's vision of replicating the recycling business in different geographies.The Group has made investment of approx. Rs 1.90 Crores for procurement and commissioning of this new Recycling Plant which is invested from internal accruals of the company.Further, a step down subsidiary of company has started commercial production of Aluminium from a new recycling plant having an annual capacity of around 4,000 MTPA. The Company is expecting additional revenue of approx. Rs 60 Crores per annum with a gross margins of ~ 20 per cent from the new capacity.The Group has made investment of approx. Rs 3.50 Crores for procuring and commissioning of this new Recycling Plant which is invested from internal accruals of the company.Gravita is a leading global recycling company with 13 eco-conscious state-of-the-art manufacturing facilities in Asia, Africa and Central America with a capacity of 213,719 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 1000 listed companies on NSE and BSE Ltd.This story has been provided by PNN.will not be responsible in any way for the content in this article. (ANI/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Lan Kwai FongFOLLOW

Lan kwai fong, Latest News

Loom Solar, an emerging SolarTech D2C start-up under Govt. of India's Start Up India initiative and leading player in mono panel category, has been adjudged the winner of cleantech sector in India by 2022 Red Herring top 100 Global. ...

New Delhi / California November 4, 2022- Loom Solar, an emerging SolarTech D2C start-up under Govt. of India’s Start Up ... ...

The Institution of Engineering and Technology (IET) India announces Applied Materials India Private Limited as the Materials Engineering Partner for IET's two-day annual flagship conference - the IET Future Tech Congress 2022. ...

Nitte (Deemed to be University) is holding its 12th Annual Convocation on November 5, 2022, at 10.00 AM in the presence of the Chancellor, Sri. N. Vinaya Hegde at Nitte Grounds, KSHEMA campus. The Chief Guest, Prof Mamidala Jagadesh Kumar, Chairperso ...

New Delhi, Nov 4 Asia's largest bike festival India Bike Week 2022, in association with PETRONAS Sprinta is ... ...

Get ready to witness the last total lunar eclipse of this year. North American Skygazers can see the moon ... ...

Unimrkt Research Pvt. Ltd. received accolades in its already illustrious journey for its positive impact on the industry through market research. ...

Gravita India, a leading recycling company in India, today announced its financial results for the quarter/half year ended 30th September 2022. ...