Gravita India FY18 PAT at Rs. 45.21 crore; up 48 per cent

Mumbai: Gravita India Limited a leading recycling multinational company declared its financial results for the quarter and financial year ended March 31, 2018.

Gravita’s Profit After Tax surged to Rs.11.11 crore as against Rs. 9.34 crore for the corresponding quarter last year. PAT margin stood at 3.07 % in Q4 FY18 versus 4.39 per cent in Q4 FY17.

Commenting on the results, Mr Rajat Agrawal, MD at Gravita India said, “We are pleased to announce the results and they are in-line with our expectations. Our recently commissioned commercial production of Lead Tetra Oxide at Jaipur and PPCP Granules Lines at Chittoor plant;  the recent order-win from Singapore will strengthen our top line and bottom line in FY18-19.”

Highlights of Consolidated Q4 FY18 Performance

Fourth quarter total revenue increased to Rs. 362.44 crore from Rs. 212.65 crore in Q4FY 17, up 70.44 per cent

The EBITDA in Q4 FY18 stood at Rs. 24.99 crore from Rs. 19.20 crore; up 41.29 per cent in the same period last year.

 Q4 Net Profit rose by18.94 per cent to Rs. 11.11 crore up from Rs. 9.34 crore in FY 17.

Highlights of Consolidated full-year FY18 Performance

Net sales increased by 49.60 per cent YoY to Rs. 1029.48 crore from Rs. 688.14 crore of FY17.  

EBITDA rose by 60.19 per cent YoY to Rs. 88.69 crore in FY18 from Rs. 55.37 crore in FY17

 Net profit jumped 48.03 per cent to Rs. 45.21 crore from Rs. 30.54 crore in FY17.

EPS stands at Rs. 6.42 vs. EPS of Rs. 4.78 in FY17

                                                        

Highlights during the Quarter

Gravita India received orders worth Rs. 250 crore from Luminous Power Technologies Private Limited which is a part of European Schneider group.

During the quarter the company also bagged orders worth Rs 300 crore from Singapore firm Kyen Resources Pte Ltd for supplying 18,000 MT of pure lead and lead bullion. Besides helping it strengthen its top line and bottom line, the new orders will help Gravita expand its global footprint across new geographies like Europe, North America, South America, Africa and Asia among others.

The company also commenced commercial production of Lead Tetra Oxide (Red Lead Oxide) at its Jaipur unit with a capacity of 7500 MTPA. The Red Lead Oxide is a value added product and will help the company to cater new segments like ceramic tiles, crystal glass, anti-corrosive paints and inverter and solar batteries.