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Gravita India Ltd

Q3 FY25Minerals & Mining

Gravita India Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹1,822

Market cap₹12.5K Cr

P/E31.8

Updated23 Aug 2026

Read4 min read

The short version

Gravita targets a volume CAGR of around 25% year-on-year growth over the next 3-4 years. Gravita projects a volume CAGR of around 25% over the next 3 years, with lead growing at 18-20%, aluminium at 40%, and plastic at 60-70% growth rates.

From Gravita India Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Gravita targets a volume CAGR of around 25% year-on-year growth over the next 3-4 years.
Lead volumes are expected to grow at 18%-20% annually.
Aluminium volumes are projected to grow at about 40% annually.
Plastic volumes have an aggressive expected growth rate of 60%-70% annually.
The company aims to increase non-lead business contribution to over 30% in the next three years by expanding into aluminium, plastic, lithium-ion battery, steel, rubber, and paper recycling.
Domestic scrap availability growth and stringent regulations (EPR, BWMR) are expected to drive faster growth, especially in lead.
M&A activities planned with around INR 800-900 crores budget for acquisitions in the next 3 years to fuel geographical and vertical expansion.

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Profitability & Margins

Gravita projects a volume CAGR of around 25% over the next 3 years, with lead growing at 18-20%, aluminium at 40%, and plastic at 60-70% growth rates.
Operating profit (EBITDA) is expected to grow at approximately 33-35% annually, aligned with volume growth and improved margins.
PAT is also expected to grow around 35% compounded, slightly higher than EBITDA due to working capital reductions and increased domestic scrap sourcing.
EBITDA margin guidance is INR18-19/kg consolidated, with expected sustainable aluminium margins at INR14-15/kg.
Return on Invested Capital (ROIC) is anticipated to remain above 25%, increasing to 27-28% in 3-3.5 years.

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Capital Expenditure Plans

Gravita raised INR1,000 crores through QIP to support growth initiatives including capacity expansion and diversification into new verticals.
INR245 crores from QIP utilized for repayment of borrowings and working capital.
Ongoing capacity expansions in lead, aluminium, and plastic recycling, including increasing Mundra lead capacity from 72,000 to 100,000 tons.
Pilot projects underway for lithium-ion battery recycling and first-ever rubber recycling plant in Mundra, expected operational by H1 FY '26.
Exploration and planning for greenfield expansions in countries like Dominican Republic.
Aggressively scouting for mergers and acquisitions with an expected INR800-900 crores investment in M&A over the next 3 years.

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Fundraising & Capital Structure

Gravita has raised INR1,000 crores through QIP (Qualified Institutional Placement) recently, part of which (INR245 crores) has been used to repay debt and working capital.
The company plans to reduce gross debt to zero by March-end using QIP funds.
However, future debt is expected as the company explores M&A opportunities and capacity expansions next year.
Management indicated they will take on new debt "as and when required" to fund acquisitions, capacity expansion, and new projects.

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Order Book & Pipeline

The transcript provided from pages 1 to 20 of Gravita India Limited's Q3 FY25 conference call does not explicitly mention the current or expected order book or pending orders. The focus is primarily on capacity expansion, financial performance, growth strategies, debt management, margin outlook, and acquisition plans. - No direct disclosure of current or expected order book/pending orders. - Emphasis on capacity expansion and volume growth guidance (~25% CAGR over next 3 years). - Ongoing exploration of M&A opportunities (INR800-900 crores planned over 3 years). - Focus on increasing domestic scrap sourcing and growing non-lead verticals.

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Gravita India Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹92 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Gravita India Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Gravita India Ltd Q3 FY25 results?

Gravita targets a volume CAGR of around 25% year-on-year growth over the next 3-4 years. Gravita projects a volume CAGR of around 25% over the next 3 years, with lead growing at 18-20%, aluminium at 40%, and plastic at 60-70% growth rates.

What is Gravita India Ltd share price analysis?

Gravita India Ltd currently shows a neutral. The stock trades at a P/E of 31.8 with a market cap of ₹12,465 Cr. Investors should review the full earnings analysis for detailed insights.

Is Gravita India Ltd planning capital expenditure?

Gravita raised INR1,000 crores through QIP to support growth initiatives including capacity expansion and diversification into new verticals.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.