Gravita India Limited PAT increased by 152% in Q2 FY20
Key financial highlights of the Hl-FY20 – Consolidated
- Revenue INR 59,202 Lacs
- EBITDA INR 3,562 Lacs
- PAT INR 1,469 Lacs
- EPS INR 2.14
- Sales Quantity: Lead 33,897 MT, Aluminum 4,400 MT & Plastics 5,480 MT
Key financial highlights of the 02-FY20 – Consolidated
- Revenue INR 32,767 Lacs
- EBITDA INR 2,068 Lacs
- PAT INR 1,279 Lacs
- EPS INR 1.86
- Sales Quantity: Lead 18,753 MT, Aluminum 2,512 MT & Plastics 2,807 MT
During Q2-FY 20 the consolidated revenue of the company stood at INR 32,767 Lacs and Profit after tax stood at INR 1,279 Lacs depicting a tremendous growth of 12% and 152% respectively against the corresponding quarter of previous year. The increase in revenue is due to higher sales volume in Lead Division. However, the sale in the Aluminium division was on the lower side due to the slowdown in the automotive industry.
The overall production during the quarter has increased by 25% from the corresponding quarter of last F.Y.
The increase in production is due to higher capacity utilization at existing plants along with additional capacities installed at new facilities in Ghana and Tanzania. Further, during the quarter the company has been able to procure 30,086 MT of battery I Lead scrap evidencing a growth of approximately 18% from the corresponding quarter of previous year.
During the quarter, the sales realization of Lead division of the company has improved due to the higher sale of Lead Alloys and Value Added Products (V AP). The sale from Lead Alloys and V AP contributed approximately 35% of the total turnover with volume growth of 68% against the last quarter of the previous year.
During the quarter, the sales realizations of the company’s plastic division was adversely impacted due to the ongoing US-China trade war, which has resulted in a surplus of plastic scrap in the US, putting pressure on the realizations, consequentially losses ~or the division. Although, there has been a significant focus on the recycling of plastic products as well as the surplus availability of plastic scraps at bottomed out prices, which will augur well for the company in the coming quarters.
For further information, please contact:
Name: Mr. Sunil Kansal, CFO
Company: Gravita India Limited