Gravita's revenue up by 49% at Rs. 399.58Cr
Jaipur, 28th May, 2013: The Company registered 49% growth in revenue at Rs. 399.58 Cr which is the highest in any financial year since inception .Gravita on Tuesday reported 27% increase in Profit After Tax at Rs.19.03 Cr for the financial year ending Marc'31, 2013. The Board of Directors at its meeting held on May'28, 2013 has recommended a final dividend of 15%, a cumulative dividend of 40% for the financial year 2013. Commenting on the results, Mr. Rajat Agrawal, Managing director said “Robust global strategy and continued focus on new markets led to business growth."
Board recommends 15% Dividend
Jaipur, 28th May, 2013: Board of Directors of the Company at its meeting held on May 28, 2013, inter alia, has proposed the final dividend @ 15% amounting to Rs. 0.30 per share on the equity share of Rs. 2/- each for the Financial Year 2012-13, subject to the approval of shareholders at the ensuing Annual General Meeting.
Board to consider Final Dividend
Jaipur, 18th May, 2013: A meeting of the Board of Directors of the Company will be held on May 28, 2012 inter alia, to consider and take on record the Annual Audited Financial Results of the Company for the Year ended March 31, 2012 and consideration of recommendation of Final Dividend, if any.
Gravita selected among top 100 SME achievers of India 2012
Jaipur, 25th April, 2013: GRAVITA INDIA LIMITED has been awarded as “India SME 100 Awards” in an Award Ceremony organized by Reliance Commercial Finance and Supported by Ministry of Micro, Small and Medium Enterprises (MSME). The Award was received by Mr. Rajat Agrawal, Managing Director of the Company. Total 42623 Nominations were received and 100 Best SME’s were selected based on evaluation process audited by SDRC.
The Awardees had interaction with Mrs. Vijayalakshmi R. Iyer, Chairperson and Managing Director of Bank of India, V. Balasubramaniam, Chief Business officer BSE Ltd., Mr. Parag Patki CEO of SMERA.
Gravita is planning for exceptional growth and towards this end it has upgraded and done expansion at its Jaipur manufacturing plant during the financial year 2012-13. Going forward, the Company is planning to enter into value-added products of Lead metal to cater to global requirements.
Free Health & Medical Check Up Camp by Gravita
Jaipur, 12th March, 2013
: Gravita India Limited organised a free health and Medical check up Camp in association with renowned Fortis Hospital for the residents of nearby villages of its factory in Phagi, towards its initiative to make healthier nation by providing basic health care to the underserved masses of the society.
The incumbents were tested for Blood Pressure, Blood Sugar levels along with specific diagnosis of Child and Women Diseases by Pediatrics and Gynecologists. The Company also provided for free medicines as advised by the doctors.
The residents contributed towards success of this noble initiative of the Company by participating in the camp in great numbers.
Gravita Poses 45th in fastest growing top 500 SME's of India
Jaipur, 5th March, 2013 : GRAVITA INDIA LTD has been ranked 45th in the list of fastest growing midsized top 500 Indian companies in 2012 and 4th rank among top 10 companies in steel & ferrous metals in a survey conducted by INC India Magazine.
INC. India magazine is the Indian edition of INC., the leading US magazine. This magazine focuses on growing companies, their aspirations and growth strategies.
In 2011, GRAVITA was ranked 90th in the list of top 500 fastest growing mid-sized Indian companies in the similar survey conducted by INC India.
During the current Financial Year 2012-13 for the nine months ended 31st December 2012 the Company has out-performed with growth in turnover at Rs 302.03 Crores as against 198.93 crores in the corresponding results of previous year. Similarly, the Profits have grown by 37% over the corresponding results of previous year.
Gravita Reported 146% increase in its Q3 Net Profits
Jaipur, 31st January, 2013
: Gravita India Limited, Jaipur, has announced its Financial results for the quarter ended December 31, 2012. Consolidated Net total income for the quarter was Rs. 11307.01 Lacs, showing an increase of 59% over the total income for the corresponding quarter of previous year.
The EBITDA of the Company increased by 189% in Q3 FY 2012-13 compared to the corresponding quarter of previous year.
Over the last 10 months, the Share of the Company has gained 21% outpacing the Sensex’s 14.5% gain.
In addition to above the Board of Directors of the Company have declared 2nd Interim Dividend for the Financial Year 2012-13 @15% on total issued capital of the Company.
The Company has recently expanded its Plant operations at Jammu and Senegal by implementing upgraded Plant & Machinery. The Company is in the process of establishing a new plant in Gujarat. The Company’s Jaipur Plant is also under expansion of production capacity.
Board Declares 2nd Interim Dividend 2012-13 @15%
Jaipur, 28th January, 2013 : The Board of Directors of Gravita India Limited at their meeting held on 28th January 2013 declared 2nd Interim dividend for the Financial Year 2012-13 @15% amounting to Rs 0.30 per share on aggregate paid-up capital of 6,81,27,552 Equity shares of Rs 2/- each.
The Record date for the purpose is 7th February 2013.
Allotment of shares under Gravita employees stock option scheme 2011
Jaipur, 23rd October, 2012 : The Board of Directors of the Company at their meeting held on Tuesday, October 23, 2012, approved the Allotment of 27552 equity shares of the Company @ of Rs 2/- each to the employees of the Company and of its subsidiaries to whom options were granted last year under Gravita Employees Stock Option Scheme 2011.
Gravita India Limited skim off its stake in Gravita Honduras
Jaipur, 28th September, 2012 : Gravita has sold its complete 33.33% stake in its Associate company Gravita Honduras S A de C. V. For the purpose, Mr Rajat Agrawal, Managing Director of the Company signed the Share Purchase Agreement at Honduras on behalf of Gravita India Limited.
The Company disinvested from the venture due to operational losses and scarcity of raw material in the vicinity of the Plant.
Board of Directors Declared 10% Interim Dividend
Jaipur, 17th August, 2012: The Board of Directors of the Company, at their meeting held on 17th August 2012 have declared Interim Dividend of 10% ( 0.20/- per share) for the Financial Year 2012-13.
Board Considered and adopted the Un-audited financial results for the quarter ended 30th June, 2012
Jaipur, 6th August, 2012: The Board of Directors of the Company at their meeting held on Monday, August 6, 2012, discussed and approved the following matters along with other matters:
- Considered and adopted the Un-audited Financial Results (Standalone & Consolidated) of the Company for the Quarter ended 30th June 2012.
- Considered and Recommended the Re-appointment of Mr. Rajat Agrawal, Managing Director of the Company for a period of three years w.e.f. from 26th September 2012 subject to the approval of shareholders at General Meeting.
- Considered and Recommended the Re-appointment of Mr. Rajeev Surana, Whole-Time Director of the Company for a period of three years w.e.f. from 26th September 2012 subject to the approval of shareholders at General Meeting.
Check out the Un-audited Financial Results»
Gravita Announced 30% Final Dividend
Jaipur, 6th August, 2012: The 20th Annual General Meeting of Gravita India Limited was held at its registered office on 6th August, 2012. Mrs Leena Jain, Secretary of the Company welcomed all the Shareholders, Board of Directors, press reporters and other special invitees at the meeting.
Mr Rajat Agrawal, Managing Director of the Company chaired the meeting. While addressing the shareholders of the Company he informed that the financial year 2011-12 was challenging for the Indian manufacturing sector, marked by globalindustrial slowdown. Despite having most volatile activities of financial duo for the Global Metal Sector i.e. Dollar and Lead LME on London Metal Exchange, the Company had been able to maintain its status quo and rather been able to grow marginally by 6% and 2% respectively in terms of the consolidated top line and bottom line of the Company during the financial year 2011-12.
At the AGM, along with others decisions, the shareholders approved the payment of final dividend at the rate of 30%.
Mr Agrawal further informed about the steps taken by the Company towards overall growth of Gravita group. The Company commissioned a world-class plant and machinery fabrication facility at Mahindra SEZ (Jaipur), facilitating turnkey project and technology solution. He further informed that the Company has recently set up a wholly owned Company in Singapore, Netherlands and Namibia. He added that Company has increased its installed production capacity by 13000 MT of its centers at Senegal, Mozambique, Sri Lanka and started production at Unit in Honduras and Kathua. After the above additions the total installed capacity of the Company is 55600 MT.
Gravita Celebrates its 21st Founders Day
04 August, 2012: As a part of commitment towards greener environment, Gravita planted trees across all their factories in the world. Mr Rajat Agrawal, Managing Director expressed his appreciation to all the employees for their commitment and performance. Outstanding performers were awarded on this ocassion.
As a part of its corporate social responsibility initiative and contnuing the concern for society, Mr Rajat Agrawal presented charity cheques to the "Akshaya Patra Foundation" and ‘S.O.S. Balgram’ which they do every year.
The company is on a growth path and considers its human resource as the key to sustainance. After listing on BSE and NSE in 2010 the company has given handsome returns to its shareholders and participants.
Board Grants 31000 options under Gravita ESOP Scheme 2011
05 July 2012: The Compensation Committee of the Board of Directors of the Company at its meeting held on July 05, 2012 has granted 31000 options to the eligible employees of the Company as well as its subsidiaries under the Gravita ESOP Scheme 2011 of the Company. Each option so granted to the eligible Employees shall carry a right to subscribe one Equity Share of the Company upon vesting and payment of pre-determined exercise price for the options. The said options are granted at exercise price of Rs. 2/- per share i.e. face value per share of the Company.The said Stock Options granted shall be vested over a period of 5 years subject to minimum vesting period of 1 year from the date of grant i.e. July 05, 2012.The Eligible Employees shall be entitled to exercise the options up to a period of 6 years from the date of grant of the options on payment of exercise price.
Board to consider Final Dividend
16 May 2012: A meeting of the Board of Directors of the Company will be held on May 25, 2012 inter alia, to consider and take on record the Annual Audited Financial Results of the Company for the Year ended March 31, 2012 and consideration of recommendation of Final Dividend, if any.
Marking of Corporate Action for Sub-Division of shares on Stock Exchanges- BSE
Marking of Corporate Action for Sub-Division of shares on Stock Exchanges- NSE
Board fixes Record date for the purpose of Sub-division of shares- 11th May 2012
11 May 2012: The Board of Directors of the Company at their meeting held on 11th May, 2012, has fixed Monday, 28th May, 2012 as record date for the purpose of ascertaining the eligibility of the shareholders/beneficial owners who would be entitled to receive sub-divided shares, pursuant to the approval of shareholders by way of postal ballot for the sub-division of 1 Equity share of Rs 10/- each of the Company into 5 Equity shares of Rs 2/- each.
Board approves Sub-division of shares
09 March 2012: Gravita India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 09, 2012, discussed and approved the following subject to approval of shareholders:
1. Sub-division of shares of the Company by split of Face Value of Rs. 10/- per share to Rs. 2/- per share.
2. Alteration in the Capital Clause of Memorandum of Association of the Company, consequent upon sub-division of shares as above.
Minister of trade and industry in Trinidad & Tobago visit to GRAVITA
08 January 2012: Gravita India Limted has taken a strong move towards its global presence. Company has initiated to setup a new battery recycling plant in Trinidad & Tobago. It is noted that Kamla Prasad Bissessar, The Prime Minister of Trinidad & Tobago is the chief guest of ongoing Pravasi Bhartiya Divas at Jaipur. Mr. Rajat Agrawal (MD of GRAVITA) and Mr. Brian Frontin (The Chairman of InvesTT) has signed a memorandum of understanding (MOU) in the presence of Mr. Stephen Cadiz (Minister of trade and Industry in Trinidad & Tobago).
Gravita is operating 3 Lead recycling plants in India and 7 plants in overseas.
Managing Director of Gravita India Ltd, Mr. Rajat Agrawal said “We are committed to save Environment”. Gravita is public listed company since Nov. 2010 and the company have been providing good profit to the investors and shareholders from the listing date.
The company is also planning to setup lead recycling plants in 3 more countries.
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Gravita Board of Directors recommend 40% Dividend
21 May 2011. The Board of Directors of the Company, at their meeting held on 21st May 2011 have recommended Final Dividend of 40% ( 4/- per share) for the Financial Year ended 31st March 2011, subject to final approval of shareholders at the forthcoming Annual General Meeting.
Gravita Board of Directors approved Employees Stock Option Plans
21 May 2011. The Board of Directors of the Company, at their meeting held on 21st May 2011 have approved the issuance of Employees Stock Option Plans subject to final approval of shareholders at the forthcoming Annual General Meeting.
Gravita Acquires M/s K M Udyog, Jammu
04 April 2011. We are pleased to announce that our Company, Gravita India Limited together with its subsidiary Company, Gravita Exim Limited have acquired 60% stake in M/s K.M. Udyog, Jammu. The installed Lead manufacturing and refining capacity of M/s K.M. Udyog, Jammu is 7200 MT per annum.
With this addition, the enhanced capacity of Gravita India Limited will be 45,900 MT per annum. The addition of M/s K.M. Udyog, Jammu is expected to improve the top and bottom line of the Company by around 65,00,00,000/- (Rupees Sixty Five Crores only) and 3,00,00,000/- (Rupees Three Crores only) respectively during the Financial Year 2011-12.