Jaipur (Rajasthan) [India], November 3 (ANI/PNN): 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- Consolidated
Revenue from Operations of Rs 683 Crores, YoY growth of 25 per cent
Adj. EBITDA of Rs 65 Crore, YoY growth of 29 per cent
PAT of Rs 45 Crore, YoY growth of 21 per cent
Started commercial production of Recycling of Poly-propylene granules in Ghana
Started commercial production of Aluminium in Senegal
Key Financial Highlights H1 FY2023- Consolidated
Revenue from Operations of Rs 1,262 Crores, YoY growth of 27 per cent
Adj. EBITDA of Rs 130 Crore, YoY growth of 48 per cent
PAT of Rs 87 Crore, YoY growth of 48 per cent
Gravita 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.
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