Started commercial production of aluminum, Commercial company

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 GhanaKey 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 centGravita 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 GhanaThe 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.will not be responsible in any way for the content of this article. (ANI/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Started Commercial Production Of AluminumFOLLOW

Started commercial production of aluminum, Latest News

Business :Gravita India continues to deliver stellar performance in Q3 FY2023

Gravita India, a leading recycling company in India, today announced its financial results for the quarter/nine months ended 31st December 2022. ...