Gravita declared its Consolidated and Standalone Financial Results for the financial year and fourth quarter ended 31st March, 2017 at the Meeting of its Board of Directors held on 15th May, 2017. There is a marked improvement both in Turnover and Profitability as the Consolidated Net Profit of the company for the year stood at Rs. 30.30 crore as compared to Rs 4.37 crore in F.Y. 2015-16 respectively. Similarly, the Standalone Net Profit of the company for the year stood at Rs.22.65 crore as compared to Rs. 3.27 crore in F.Y. 2015-16. The highlights of the same are given below:
Consolidated Financial Highlights for Q4
- Consolidated total revenue during the quarter increased to Rs. 202.63 crore from Rs. 118.83 crore in corresponding quarter, representing a growth of 71%.
- Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 18.51 crore as compared to EBITDA of Rs. 4.02 crore in corresponding quarter, depicting a growth of 360%.
- Net Profit After Tax and Minority Interest stood at Rs. 10.18 crore as compared to Loss of Rs. 0.21 crore in corresponding quarter.
Standalone Financial Highlights for Q4
- Total revenue for the quarter increased to Rs. 171.13 crore from Rs. 98.65 crore in corresponding quarter, depicting a growth of 73%.
- Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 13.41 crore as compared to profit of Rs. 1.44 crore in corresponding quarter, depicting a growth of 831%.
- Net Profit After Tax stood at Rs. 8.21 crore as compared to profit of Rs. 0.80 crore in corresponding quarter, depicting a growth of 930%.
Consolidated Financial Highlights for the Year Ended 2016-17
- Total revenue for the year ended 31 March 2017 increased to Rs. 655.68 crore from Rs. 431.20 crore in corresponding year, depicting a growth of 52%.
- Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 55.42 crore as compared to profit of Rs. 16.03 crore in corresponding year, depicting a growth of 246%.
- Net Profit After Tax for the year ended 31 March 2017 stood at Rs. 30.30 crore as compared to profit of Rs. 4.37 crore in corresponding year depicting a growth of 593%.
Standalone Financial Highlights for the Year Ended 2016-17
- Total revenue for the year increased to Rs. 534.00 crore from Rs. 353.84 crore in corresponding year, depicting a growth of 51%.
- Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 38.32 crore as compared to profit of Rs. 8.86 crore in corresponding year, depicting a growth of 332%.
- Net Profit After Tax stood at Rs. 22.65 crore as compared to net profit of Rs. 3.27 crore in corresponding year, depicting a growth of 594%.
The Board of Directors at their meeting held on 15th May, 2017 recommended a Final Dividend of Rs. 0.60 per share, i.e. 30% on each equity share having of face value of Rs. 2/- each
The Company is growing at a CAGR of 40% in revenue and 31% in profitability since last 10 years.
Gravita commenced its new lead recycling plant in Chittoor in AP in January this year. The plant, which has production capacity of 12000 metric tonne per annum (MTPA), aims to tap the opportunity of domestic scrap available with the large telecom players, UPS batteries from IT offices in and around southern markets by entering into long-term contracts to collect their pan-India scrap in cost effective manner. Being near to the Chennai port, the plant cuts the company’s logistics cost in exporting the finished goods. The plant, built with an investment of approximately Rs. 25 crore, is expected to help Gravita to strengthen its presence in Southern market and for exports in the Far East markets.
The company’s product caters to the Auto, Telecom, Power, Nuclear and Medical industries. Gravita is also one of the leading Turn-key project suppliers for Lead smelting, recycling and pollution-control equipment, having supplied 59 plants in 41 countries across the globe.
The Turnkey solution business of Gravita has recently received orders worth Rs. 15 crore from Metal Lead Factory for metal casting & Quiwan Group from the Middle East region.
In the recent past, the company has added aluminum and Plastics recycling to its portfolio, which are expected to drive the company’s growth in the coming years. Over years, the company has diversified into Recycling of non-ferrous metals, Plastics industry and Turnkey Solutions. Gravita has plants in India, Sri Lanka, Ghana, Mozambique, Senegal, Tanzania, Mauritania, Nicaragua and Jamaica.