Gravita India: Un-Audited Financial Results PAT up by 103% in Q1-FY 21
Gravita India Limited PAT up by 103% in Q1-FY 21
Key financial highlights of the Q1-FY 21
• Revenue INR 258.45 Cr
• EBITDA INR 12.64 Cr
• PAT INR 3.88 Cr
• EPS INR 0.57
• Sales Quantity: Lead 16,221 MT, Aluminum 973 MT & Plastics 2,493 MT
During Q1- FY 21 the consolidated revenue of the company stood al Rs. 258.45 Cr and Profit after tax stood at Rs. 3.88 Cr. The increase in profit margins of the company is due to significant increase in sales volumes from overseas manufacturing facilities where company enjoys better margins coupled with lower working capital cycle.
The overall production during the quarter has increased by ~ 2% from corresponding quarter of previous year despite adverse condition related to Covid-19 pandemic around the world. Further, during the quarter the sales volume of Lead products has also increased by ~ 7% from corresponding quarter of previous year.
The company has plans to focus on optimizing its overseas manufacturing facilities along with improving its scrap collection network in India to help improve its profitability by reducing logistic costs of importing the scrap in India and also reducing working capital cycle. Additionally the company continues to focus on improving product and market mix to get better margins.
About Gravita India Limited
Gravita India Limited (www.gravitaindia.com), a leader in integrated operations of non-ferrous metalsand plastics having recycling, manufacturing and Turnkey business in 8 countries of Asia, Africa and South America Continent. The company enjoys patronage of its products in more than 59 countries.
Mr. Rajat Agrawal, Managing Director, Gravita India Limited said, “During the quarter the company has been able to achieve remarkable performance in spite of adverse market conditions globally due to COVID 19 pandemic and lower metal prices. We expect the better operational performance coupled with volume growth in upcoming quarters. “
Forward looking statement
We have disclosed forward-looking information so that investors can comprehend the Company’s prospects and make informed investment decisions. This release and other written and oral statements that we make periodicall y contain such forward-looking statements that set out anticipated results based on the Maagement’s plans and assumptions. We have tried, wherever possible, to qualify such statements by using words such as ‘ anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘ intends’, ‘plans’, ‘ believes’ and words and terms of similar substance in connection with any discussion of future operating or financial performance. We do not guarantee that any forward-looking statement will be realized, although we believe we have been diligent and prudent in our plan and assumptions. The achievement of future results is subject to risk, uncertainties and validity of inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
Name: Mr. Sunil Kansal, CFO
Company: Gravita India Limited
Mob: +91 9784595005