Gravita India Limited reported INR 12.26 Cr PAT in 3rd Quarter FY20
February 18, 2020
Key financial highlights of the 03-FY20- Consolidated
- Revenue INR 376.51 Cr
- EBITDA INR 32.84 Cr
- PATINR12.26 Cr
- EPS INR 1.54
- Sales Quantity: Lead 20,301 MT, Aluminium 1,925 MT & Plastics 3,184 MT
Q3-FY20 Operational Highlights
The consolidated revenue of the company stood at INR 376.5 1 Cr. representing a growth of 23% against the corresponding quarter of previous year. The EBITDA grew by 224% YoY and stood at INR 32.84 Cr and Profit after tax stood at INR 12.26 Cr as against INR 0.36 Cr during the corresponding quarter of the previous year.
The increase in revenue was primarily driven by higher sales volume in Lead and Plastic division. The overall production during the quarter increased by 17% from the corresponding quarter of previous year. The increase in production was due to higher capacity utilization at all the existing facilities and stabilization of new facilities situated in Ghana and Tanzania. Further, during the quarter the company has been able to procure 39,559 MT of scrap evidencing a growth of approx. 19% from the corresponding quarter of the previous year.
The EBlDTA margin of the company improved significantly due to higher sale of Lead Alloys and Value Added Products (V AP). The sales from Lead Alloys and V AP increased by 60% against the corresponding quarter of the previous year. The bottom line of the company improved due to the stabilization of 100% hedging policy of the company and economies of scale. The increase in production at overseas facilities helped in increasing the bottom line due to higher margins at these locations. Further, the company has focused on improving its customer segmentation which has resulted in better profit margins.
Over the next few quarters, the company will majorly focus to improve its capacity utilization at existing facilities, increasing the production and sales of high margin products like Lead Alloys and Value Added Products by strengthening its global scrap collection network and also by venturing into new territories. The company is also focusing on developing the export market for its Aluminium Alloys which will result in a reduced working capital cycle coupled with improved profit margins.
About Gravita India Limited
Grav ita India Limited (www.gravitaindia.com), a leader in integrated operations of non-ferrous metals
and plastics having recycling, manufacturing and Turnkey business in 8 countries of Asia, Africa and
Central America Continent. The company enjoys patronage of its products in more than 59 countries.
Mr. Rajat Agrawal, Managing Director, Gravita li1dia Limited said, " During the quarter the company
performed rationally well due to higher capacity utilization at is overseas facilities and higher sales of
Value Added Products and Lead Alloys which resulted in handsome profit margins. The company is
continuously working for better operational efficiencies and focusing on deep-rooted scrap collection