GRAVITA
Gravita India share price & financials
- Price
- ₹1,818.2
- Market cap
- ₹11.6k Cr
- Sector
- Metals & Mining
- Calls analysed
- 8
Gravita India Limited Q1 FY27
What went well
- Robust financial performance with 42% YoY revenue growth to ₹1,475 crores.
- EBITDA grew 29% YoY to ₹145 crores, with healthy margins over 9.80%.
- PAT increased 14% YoY to ₹106.39 crores.
What to watch
- Lead volumes declined YoY due to supply chain disruptions from the Middle East war.
- Copper segment operated at 50% capacity utilization in Q1 FY27.
What Gravita India Limited does
Gravita India is a multi-metal, multi-geography recycler that collects scrap — lead-acid batteries, aluminium, plastics, tyre rubber and lithium-ion batteries — and processes it into refined metals, alloys and value-added products supplied to OEMs and industrial customers. It runs 14 recycling and manufacturing plants across India and eight other countries (Sri Lanka, Dominican Republic, Romania, Ghana, Senegal, Mozambique, Tanzania and Togo), fed by a company-owned network of scrap yards and collection touch points spanning Asia, Africa, Europe and the Americas. Alongside its own recycling, it also designs, builds and commissions turnkey recycling plants for third parties worldwide. It has recently expanded into copper recycling through the acquisition of Rashtriya Metal Industries Limited (RMIL).
Segments
- Lead Recycling
- Aluminium Recycling
- Plastic Recycling
- Rubber Recycling
- Turnkey Project Solutions
- Lithium-ion Battery Recycling
- Copper Recycling
- Recycling business verticals
- 6 established (Lead, Aluminium, Plastic, Rubber, Turnkey Solutions, Lithium-ion battery), plus new Copper vertical via RMIL
- Manufacturing / recycling plants
- 14 plants globally
- Countries with own recycling plants
- 9 (India, Sri Lanka, Dominican Republic, Romania, Ghana, Senegal, Mozambique, Tanzania, Togo)
- Installed production capacity
- ~4.36 lakh MT (excluding internal rubber)
- Global procurement network
- 2,200+ touch points across 39 company-owned scrap yards
- Annual scrap collection handled
- ~3.30 lakh MT
Guidance record · Q1 FY27
what the last two calls moved 33 tracked 4 delivered 7 missed 22 open- Sustainable Lead EBITDA per ton delivered said Q2 FY25 Promised: ₹18,000 to ₹19,000 Q1 FY27: Achieved ₹24,181/ton, continuing to perform well above the sustainable guidance range of ₹19,000-20,000/ton.
- Gross Debt missed said Q3 FY25 Promised: 0 by March 2025 Q1 FY27: Net debt increased to ₹150 crores. The promise remains missed.
- Volume CAGR at risk said Q2 FY25 Promised: >25% Q1 FY27: Management acknowledged short-term volume growth challenges due to supply chain disruptions and stated they 'may not be able to achieve the same volume growth that we were expecting earlier on a quarter-to-quarter basis'.
All 33 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 41.8%, net profit up 14.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 927 | 996 | 1,037 | 1,040 | 1,036 +12% | 1,017 +2% | 1,173 +13% | 1,475 +42% |
| EBITDA | 63 | 81 | 92 | 101 | 102 +62% | 120 +48% | 113 +23% | 110 +9% |
| Net profit | 72 | 78 | 95 | 93 | 96 +33% | 97 +24% | 92 −3% | 106 +14% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +0.3% 1Y
1Y: ₹1,663 on 10 Sept 2025 → ₹1,668.2. High ₹1,875.4 (26 Dec 2025), low ₹1,295.1 (2 Apr 2026).
How the price took the results
close before → close after
- Q1 FY27
- −8.4%
- 28 Jul
- Q4 FY26
- +2.0%
- 11 May
- Q3 FY26
- +2.2%
- 23 Jan
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 15.1% a year over 3 years, FY23 to FY26. Operating margin widened to 10.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.8k Cr | ₹3.2k Cr | ₹3.9k Cr | ₹4.3k Cr |
| Operating profit | ₹216 Cr | ₹283 Cr | ₹324 Cr | ₹436 Cr |
| Operating margin | 7.7% | 9.0% | 8.4% | 10.2% |
| Interest | ₹40 Cr | ₹49 Cr | ₹44 Cr | ₹25 Cr |
| Depreciation | ₹24 Cr | ₹38 Cr | ₹30 Cr | ₹39 Cr |
| Net profit | ₹204 Cr | ₹242 Cr | ₹313 Cr | ₹378 Cr |
| Net margin | 7.3% | 7.7% | 8.1% | 8.9% |
| Cash from operations | ₹200 Cr | ₹42 Cr | ₹282 Cr | ₹169 Cr |
| Free cash flow | ₹93 Cr | ₹-56 Cr | ₹175 Cr | ₹-46 Cr |
| ROCE | 32.0% | 28.0% | 22.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹15 Cr | ₹15 Cr |
| Reserves | ₹255 Cr | ₹373 Cr | ₹575 Cr | ₹824 Cr | ₹2.2k Cr | ₹2.4k Cr |
| Borrowings | ₹261 Cr | ₹392 Cr | ₹348 Cr | ₹548 Cr | ₹445 Cr | ₹736 Cr |
| Other liabilities | ₹196 Cr | ₹219 Cr | ₹268 Cr | ₹217 Cr | ₹169 Cr | ₹229 Cr |
| Total liabilities | ₹726 Cr | ₹998 Cr | ₹1.2k Cr | ₹1.6k Cr | ₹2.9k Cr | ₹3.4k Cr |
| Fixed assets | ₹172 Cr | ₹191 Cr | ₹273 Cr | ₹348 Cr | ₹480 Cr | ₹939 Cr |
| Capital work in progress | ₹13 Cr | ₹42 Cr | ₹46 Cr | ₹43 Cr | ₹82 Cr | ₹48 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹16 Cr | ₹669 Cr | ₹413 Cr |
| Other assets | ₹540 Cr | ₹764 Cr | ₹885 Cr | ₹1.2k Cr | ₹1.6k Cr | ₹2.0k Cr |
| Total assets | ₹726 Cr | ₹998 Cr | ₹1.2k Cr | ₹1.6k Cr | ₹2.9k Cr | ₹3.4k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −2.23 pp while the public added +1.17 pp. The shareholder count grew 5% to 1,57,641.
- Promoters
- 55.9%
- FIIs
- 12.9%
- DIIs
- 5.5%
- Public
- 24.4%
- Others
- 1.3%
Since Jun 2025
- FIIs −2.23 pp
- Public +1.17 pp
- DIIs +1.11 pp
How it drifted, 12 quarters
Over this window promoters fell from 66.5% to 55.9% — −10.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 66.5%, FIIs 10.0%, DIIs 0.4%, Public 21.7%, Others 1.4%.Dec '23: Promoters 66.5%, FIIs 10.6%, DIIs 0.4%, Public 21.1%, Others 1.4%.Mar '24: Promoters 66.5%, FIIs 11.1%, DIIs 0.4%, Public 20.6%, Others 1.4%.Jun '24: Promoters 63.4%, FIIs 13.4%, DIIs 2.6%, Public 19.2%, Others 1.4%.Sep '24: Promoters 63.4%, FIIs 14.0%, DIIs 3.2%, Public 17.9%, Others 1.4%.Dec '24: Promoters 59.3%, FIIs 14.1%, DIIs 5.4%, Public 19.8%, Others 1.4%.Mar '25: Promoters 59.3%, FIIs 14.0%, DIIs 5.4%, Public 19.9%, Others 1.4%.Jun '25: Promoters 55.9%, FIIs 15.1%, DIIs 4.4%, Public 23.3%, Others 1.3%.Sep '25: Promoters 55.9%, FIIs 14.7%, DIIs 4.9%, Public 23.3%, Others 1.3%.Dec '25: Promoters 55.9%, FIIs 15.8%, DIIs 4.7%, Public 22.3%, Others 1.3%.Mar '26: Promoters 55.9%, FIIs 13.9%, DIIs 5.2%, Public 23.7%, Others 1.3%.Jun '26: Promoters 55.9%, FIIs 12.9%, DIIs 5.5%, Public 24.4%, Others 1.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Tata Business Cycle Fund Mutual fund newly disclosed 1.38% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Gravita India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rajat Agrawal | 32.38% | unchanged |
| Rajat Agrawal Trustee of Agrawal Family Private Trust | 23.50% | unchanged |
| Goldman Sachs Funds - Goldman Sachs India Equity P Global fund house | 2.23% | unchanged |
| Tata Business Cycle Fund Mutual fund | 1.38% | newly disclosed |
| Goldman Sachs Bank Europe Se - Odi Global fund house | 1.23% | unchanged |
| Jupiter India Fund Global fund house | 1.07% | unchanged |
| Tata Multicap Fund Mutual fund | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in GRAVITA
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.01 L shares (+1.1%).
- Held by funds
- ₹15 Cr
- 5 schemes
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹9 Cr · 0.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹9 Cr | +0.01 L | Mar '25 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹5 Cr | +0.00 L | Mar '25 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Mar '25 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Mar '25 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 1 trimmed — net +904 shares (+1.1%)
- Funds are sitting on
- +3%
- vs est. average cost
- Held by funds
- ₹15 Cr
- 5 schemes · ≈ 0.13% of the company
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹9 Cr · 0.3% of that fund
Shares held by these funds +42%
Mar '25 82,341 shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Gravita India Limited
Guides on how to read this kind of business and the numbers that matter.