ANI PR Wire
24 Jan 2023, 20:45 GMT+10
Jaipur (Rajasthan) [India], January 24 (ANI/PNN): Gravita India, a leading recycling company in India, today announced its financial results for the quarter/nine months ended 31st December 2022.
Key Financial Highlights Q3 FY23- Consolidated
- Revenue from Operations of Rs. 792 Crores, YoY growth of 42 per cent
- Adj. EBITDA of Rs 71 Crore, YoY growth of 31 per cent
- PAT of Rs. 50 Crore, YoY growth of 28 per cent
- Started Commercial Production of Aluminum in Senegal
- Started Commercial Production of Aluminum in Togo
- Started Commercial Production of Plastic in Ghana
Key Financial Highlights 9M FY23- Consolidated
- Revenue from Operations of Rs. 2054 Crores, YoY growth of 33 per cent
- Adj. EBITDA of Rs. 201 Crore, YoY growth of 41 per cent
- PAT of Rs. 137 Crore, YoY growth of 40 per cent
Gravita India delivered a strong financial performance in Q3 FY23. In Q3 FY23, Revenues stood at Rs 792 crores, registering a growth of 42 per cent on Y-o-Y basis. The Revenue growth was supported by increasing sales volumes and better realizations. Overall sales volumes increased by 34 per cent on a Y-o-Y basis.
EBITDA for the year was Rs. 71 crores as compared to Rs. 54 crores in Q3 FY22, depicting a growth of 31 per cent on Y-o-Y basis. EBITDA margins stood at ~9 per cent and company continues to maintain resilient margins despite increasing cost pressure across major raw materials during the quarter. Profit after Tax was Rs. 50 crores as compared to Rs 39 crores in Q3 FY22, depicting a growth of 28 per cent on Y-o-Y basis. PAT margins were ~6.34 per cent.
Recently, company has Started Commercial Production of Aluminum in Senegal, Started Commercial Production of Aluminum in Togo, Started Commercial Production of Plastic in Ghana
The Company has incurred capital expenditure of approximately Rs 16.40 crores for installing and commissioning the above three plants.
Gravita India continues to maintain its leadership position in the recycling industry and is well-positioned to tap emerging opportunities as the focus moves on creating circular economies. Management remains committed to moving forward on its long-term growth plan, with a prudent approach and creating value for all stakeholders.
Commenting on the Performance Rajat Agrawal; Managing Director Gravita India Said, "We are extremely happy with our performance in this quarter. Our strong revenue and profitability show the strength and scalability of our business model. Our endeavour is to provide a clean and green future and at the same time create superior value for all our stakeholders. We are committed to achieving our 2026 vision and are taking all the necessary actions for the same."
Gravita is a leading global recycling company with 14 eco-conscious state-of-the-art manufacturing facilities in Asia, Africa and Central America with a capacity of 2,27,719 MTPA. The Group is having global footprint in 70+ countries having a recycling DNA of 30 years with 5 business verticals. The company is amongst the top 1000 listed companies on NSE and BSE Ltd.
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
Get a daily dose of Myanmar Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Myanmar Sun.
More InformationKATHMANDU, Nepal - The Rukum Paschim District Court sentenced 24 people to life in prison for their roles in the ...
JAKARTA, Indonesia: The death toll from the eruption of Indonesia's Marapi volcano surged to 22 as rescuers discovered additional climbers ...
DHAKA, Bangladesh - PM Sheikh Hasina is ranked 46th on Forbes' list of the World's 100 Most Powerful Women in ...
LAHORE, Pakistan - According to the Lahore police Organized Crime Unit (OCU), a gang of robbers has been arrested in ...
BUKITTINGGI, Indonesia: On December 2, Mount Marapi in West Sumatra province, Indonesia, erupted, sending hot ash clouds several miles (kilometers) ...
NAYPYITAW, Myanmar - Myanmar's junta chief has urged ethnic armed groups fighting the military across the country to find a ...
WASHINGTON, DC - Within hours of blocking a UN Security Council resolution from demanding a ceasefire in the current Mideast ...
WASHINGTON D.C.: In a sign of the challenges ahead for his 2024 re-election bid, a new Reuters/Ipsos poll showed that ...
Israel has acknowledged and thanked the United States and President Joe Biden for standing firmly by Israel's side at the ...
NEW YORK: This week, New York City officials said that one person was killed and six others were injured when ...
NEW YORK, New York - The United Kingdom refrained from supporting demands for a ceasefire in the two-months long Israel-Gaza ...
NEW YORK, New York - The U.S. was alone on Friday in a 13-1 vote for a ceasefire in the ...