{"id":19310,"date":"2020-08-05T05:14:19","date_gmt":"2020-08-05T05:14:19","guid":{"rendered":"https:\/\/www.gravitaindia.com\/?p=19310"},"modified":"2021-10-26T12:59:10","modified_gmt":"2021-10-26T12:59:10","slug":"gravita-india-un-audited-financial-results-gravita-india-limited-pat-up-by-103-in-q1-fy-21","status":"publish","type":"post","link":"http:\/\/vividsoftech.com\/work\/hg\/gg\/gravita-india-un-audited-financial-results-gravita-india-limited-pat-up-by-103-in-q1-fy-21\/","title":{"rendered":"Gravita India: Un-Audited Financial Results PAT up by 103% in Q1-FY 21"},"content":{"rendered":"

Gravita India Limited PAT up by 103% in Q1-FY 21<\/strong><\/p>\n

Key financial highlights of the Q1-FY 21
\n\u2022 Revenue INR 258.45 Cr
\n\u2022 EBITDA INR 12.64 Cr
\n\u2022 PAT INR 3.88 Cr
\n\u2022 EPS INR 0.57
\n\u2022 Sales Quantity: Lead 16,221 MT, Aluminum 973 MT & Plastics 2,493 MT<\/p>\n

Operational Highlights<\/strong><\/p>\n

During Q1- FY 21 the consolidated revenue of the company stood al Rs. 258.45 Cr and Profit after tax\u00a0stood at Rs. 3.88 Cr. The increase in profit margins of the company is due to significant increase in sales\u00a0volumes from overseas manufacturing facilities where company enjoys better margins coupled with lower\u00a0working capital cycle.
\nThe overall production during the quarter has increased by ~ 2% from corresponding quarter of previous\u00a0year despite adverse condition related to Covid-19 pandemic around the world. Further, during the quarter\u00a0the sales volume of Lead products has also increased by ~ 7% from corresponding quarter of previous\u00a0year.<\/p>\n

Road Ahead<\/strong><\/p>\n

The company has plans to focus on optimizing its overseas manufacturing facilities along with improving\u00a0its scrap collection network in India to help improve its profitability by reducing logistic costs of\u00a0importing the scrap in India and also reducing working capital cycle. Additionally the company continues\u00a0to focus on improving product and market mix to get better margins.<\/p>\n

About Gravita India Limited<\/strong><\/p>\n

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\u00a0South America Continent. The company enjoys patronage of its products in more than 59 countries.<\/p>\n

Management Commentary<\/strong><\/p>\n

Mr. Rajat Agrawal, Managing Director, Gravita India Limited said, “During the quarter the company has\u00a0been able to achieve remarkable performance in spite of adverse market conditions globally due to\u00a0COVID 19 pandemic and lower metal prices. We expect the better operational performance coupled with\u00a0volume growth in upcoming quarters. “<\/p>\n

Forward looking statement<\/strong><\/p>\n

We have disclosed forward-looking information so that investors can comprehend the Company’s\u00a0prospects and make informed investment decisions. This release and other written and oral statements that\u00a0we make periodicall y contain such forward-looking statements that set out anticipated results based on the\u00a0Maagement’s plans and assumptions. We have tried, wherever possible, to qualify such statements by\u00a0using 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.<\/p>\n

For further information, please contact:
\nName: Mr. Sunil Kansal, CFO
\nCompany: Gravita India Limited
\nMob: +91 9784595005
\nEmail: sunil@gravitaindia.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Gravita India Limited PAT up by 103% in Q1-FY 21 Key financial highlights of the Q1-FY 21 \u2022 Revenue INR 258.45 Cr \u2022 EBITDA INR 12.64 Cr \u2022 PAT INR 3.88 Cr \u2022 EPS INR 0.57 \u2022 Sales Quantity: Lead 16,221 MT, Aluminum 973 MT & Plastics 2,493 MT Operational Highlights During Q1- FY 21 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/posts\/19310"}],"collection":[{"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/comments?post=19310"}],"version-history":[{"count":1,"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/posts\/19310\/revisions"}],"predecessor-version":[{"id":23011,"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/posts\/19310\/revisions\/23011"}],"wp:attachment":[{"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/media?parent=19310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/categories?post=19310"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/vividsoftech.com\/work\/hg\/gg\/wp-json\/wp\/v2\/tags?post=19310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}