Gravita India Limited revenue up by 51.36% to Rs. 304.95 Cr in Q1 FY19

Highlights

•  Enhanced Lead smelting capacity at Phagi and Chittoor by 3,000 and 6,000 MT per annum respectively
• Gravita enters into contract with Amara Raja Batteries for lead acid battery scrap collection and recycling arrangements
• Gravita started Commercial Production of PPCP Granules from its Plant situated at Chittoor, Andhra Pradesh
• ILA (International Lead Association) approval received for our Phagi Plant, Jaipur
• Initiated construction at Mundra, 28000 MTPA of the Lead recycling is expected to come on-stream by March 2019
• Up-gradation in Credit Rating of the Company by Brickwork Ratings Private Limited
• Gravita bestowed with RCCI Excellence Award for outstanding achievement of the company in its business segment

Operational Performance
Gravita has a robust scrap collection network globally and has collected 25,668 MT of scrap in Q1FY2019 v/s 21,532 MT of scrap collected in Q1FY2018.  The production from scrap grew by 59% to 18,781 MT v/s 11,786 MT because of higher production from Semelted divisions Lead, which is an intermediate product similarly there was higher production from aluminium and plastics.

Financial Performance
Revenue from operations during the quarter was Rs. 304.95 Crore, an increase of approx 51% y-o-y primarily due to higher production and better sales realizations.

Gravita’s Profit after Tax surged to Rs. 12.18 crores as against Rs. 10.59 crores for the corresponding quarter last year. PAT margin stood at 3.99 % in Q1 FY19.