Gravita India Ltd
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.
- Market Cap ₹ 12,132 Cr.
- Current Price ₹ 1,644
- High / Low ₹ 2,092 / 1,267
- Stock P/E 40.8
- Book Value ₹ 250
- Dividend Yield 0.39 %
- ROCE 19.6 %
- ROE 17.3 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 54.0% CAGR over last 5 years
- Company's median sales growth is 26.8% of last 10 years
Cons
- Promoter holding has decreased over last 3 years: -17.1%
- Working capital days have increased from 60.0 days to 87.3 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 334 | 353 | 533 | 787 | 1,059 | 1,172 | 1,226 | 1,894 | 2,524 | 2,679 | 3,223 | 3,481 | |
| 327 | 343 | 493 | 729 | 1,018 | 1,100 | 1,161 | 1,813 | 2,422 | 2,478 | 2,998 | 3,169 | |
| Operating Profit | 7 | 10 | 40 | 58 | 42 | 72 | 65 | 81 | 102 | 202 | 225 | 312 |
| OPM % | 2% | 3% | 7% | 7% | 4% | 6% | 5% | 4% | 4% | 8% | 7% | 9% |
| 7 | 4 | 1 | 1 | 12 | -9 | 10 | 6 | 59 | 52 | 46 | 77 | |
| Interest | 9 | 8 | 9 | 18 | 23 | 27 | 26 | 30 | 34 | 32 | 23 | 9 |
| Depreciation | 3 | 3 | 3 | 5 | 7 | 9 | 9 | 9 | 11 | 13 | 15 | 18 |
| Profit before tax | 2 | 3 | 28 | 36 | 24 | 28 | 40 | 49 | 116 | 208 | 233 | 363 |
| Tax % | -205% | -1% | 19% | 30% | 21% | 20% | 20% | 18% | 13% | 14% | 17% | 18% |
| 5 | 3 | 23 | 25 | 19 | 22 | 32 | 40 | 101 | 180 | 194 | 297 | |
| EPS in Rs | 0.75 | 0.48 | 3.36 | 3.71 | 2.76 | 3.25 | 4.66 | 5.76 | 14.65 | 26.02 | 26.30 | 40.24 |
| Dividend Payout % | 27% | 42% | 18% | 19% | 11% | 22% | 24% | 52% | 30% | 20% | 24% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 23% |
| 3 Years: | 11% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 72% |
| 5 Years: | 54% |
| 3 Years: | 43% |
| TTM: | 57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 53% |
| 5 Years: | 73% |
| 3 Years: | 43% |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 23% |
| 3 Years: | 21% |
| Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 15 | 15 |
| Reserves | 76 | 79 | 102 | 122 | 136 | 150 | 175 | 194 | 295 | 443 | 1,580 | 1,832 |
| 90 | 94 | 160 | 207 | 216 | 230 | 212 | 322 | 286 | 268 | 12 | 336 | |
| 16 | 10 | 24 | 64 | 119 | 85 | 186 | 229 | 251 | 315 | 244 | 239 | |
| Total Liabilities | 196 | 197 | 299 | 407 | 485 | 480 | 587 | 758 | 846 | 1,039 | 1,851 | 2,422 |
| 37 | 38 | 54 | 82 | 107 | 117 | 115 | 140 | 177 | 203 | 216 | 319 | |
| CWIP | 3 | 12 | 23 | 14 | 9 | 3 | 5 | 15 | 14 | 8 | 25 | 19 |
| Investments | 27 | 27 | 29 | 17 | 24 | 15 | 10 | 9 | 10 | 9 | 534 | 935 |
| 129 | 120 | 192 | 294 | 345 | 345 | 457 | 594 | 645 | 819 | 1,076 | 1,149 | |
| Total Assets | 196 | 197 | 299 | 407 | 485 | 480 | 587 | 758 | 846 | 1,039 | 1,851 | 2,422 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1 | 7 | -9 | -18 | 54 | 20 | 53 | -21 | 96 | 91 | 168 | -8 | |
| -8 | -4 | -40 | -10 | -34 | -0 | -2 | -41 | -22 | -15 | -783 | -308 | |
| 9 | -4 | 52 | 27 | -18 | -22 | -50 | 61 | -68 | -82 | 666 | 267 | |
| Net Cash Flow | 0 | -1 | 3 | -2 | 2 | -3 | 1 | -1 | 6 | -6 | 52 | -48 |
| Free Cash Flow | -5 | -3 | -46 | -40 | 27 | 16 | 39 | -65 | 47 | 63 | 121 | -136 |
| CFO/OP | -25% | 71% | -19% | -16% | 142% | 37% | 91% | -13% | 113% | 63% | 94% | 15% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 23 | 30 | 41 | 49 | 37 | 19 | 19 | 20 | 20 | 29 | 23 | 26 |
| Inventory Days | 79 | 60 | 70 | 69 | 52 | 55 | 88 | 79 | 64 | 76 | 57 | 76 |
| Days Payable | 12 | 6 | 11 | 31 | 42 | 28 | 45 | 16 | 17 | 30 | 21 | 18 |
| Cash Conversion Cycle | 90 | 84 | 100 | 87 | 47 | 46 | 63 | 82 | 67 | 76 | 58 | 84 |
| Working Capital Days | 12 | 9 | 5 | 9 | 1 | 15 | 25 | 27 | 26 | 33 | 60 | 87 |
| ROCE % | 7% | 5% | 17% | 18% | 13% | 18% | 17% | 17% | 27% | 37% | 21% | 20% |
Insights
In beta| Mar 2015 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Total Installed Recycling Capacity MTPA |
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| Value Added Products Contribution to Revenue % |
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| Lead Segment Installed Capacity MTPA |
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| Aluminium Segment Sales Volume MT |
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| Capacity Utilization (Average Group) % |
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| Lead Segment Sales Volume MT |
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| Own Yards Globally Number |
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| Sourcing Touchpoints Number |
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| Total Sales Volumes MT |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
4h - Gravita India held a one-on-one institutional investor meeting on 21 May 2026; no UPSI shared.
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Update On Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
1d - Lead recycling capacity at Phagi, Jaipur increased by 40,500 MTPA to 75,819 MTPA.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Executives held one-on-one institutional investor meetings on 20 May 2026; presentation posted online.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Executives held one-on-one institutional investor meetings on 19 May 2026; presentation posted online.
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015.
16 May - Ghaziabad GST authority imposed Rs. 1,65,863 penalty on 16 May 2026 for loading-place mismatch.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Jan 2025Transcript PPT
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Jan 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Oct 2024Transcript PPT REC
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Jul 2024Transcript PPT REC
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Oct 2023TranscriptAI SummaryPPT
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Jul 2023Transcript PPT REC
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May 2023Transcript PPT REC
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Jan 2023Transcript PPT
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Jan 2023TranscriptAI SummaryPPT
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Nov 2022Transcript PPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Jan 2021TranscriptAI SummaryPPT
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Aug 2020Transcript PPT
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Jun 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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Mar 2019TranscriptAI SummaryPPT
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Mar 2018TranscriptAI SummaryPPT
Business Profile[1][2]
The Co. is in the business of lead recycling, where it processes battery scrap into value-added products like pure lead, lead alloys, lead sheets, lead bricks, red lead, and lead oxide