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Business News/ Markets / Stock Markets/  Ashish Kacholia portfolio stock Gravita India records 54% Q4 net profit growth, Board declares dividend
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Ashish Kacholia portfolio stock Gravita India records 54% Q4 net profit growth, Board declares dividend

During today's closing session, Gravita India, a small cap company, had a market cap of ₹3,551.66 Cr.

One of India's leading lead producers, Gravita India Ltd. was founded in 1992.Premium
One of India's leading lead producers, Gravita India Ltd. was founded in 1992.

During today's closing session, Gravita India, a small cap company, had a market cap of 3,551.66 Cr. One of India's leading lead producers, Gravita India Ltd. was founded in 1992. As a result of the company's announcement of strong Q4 results and a dividend for the eligible shareholders, the stock closed the day higher by 1.33%. 

“This is to inform that Board has approved a final dividend of Rs. 4.35 per share to be paid subject to the approval of members at the Annual General Meeting," said Gravita India in a stock exchange filing.

The company has reported a consolidated total income of Rs.772.06 crores during the period ended March 31, 2023 up by 16.00% YoY as compared to Rs.665.55 crores during the period ended March 31, 2022. During Q4FY23, the company reported a net profit of 63.81 Cr up by 54.35% YoY from 41.34 Cr during Q4FY22 and its EPS reached 9.43 during the quarter under review, up by 54.34% YoY from 6.11 during the year-ago quarter. During Q4FY23, the company’s EBITDA reached Rs. 85 Crore, YoY growth of 17% and EBITDA margin stood at 11.35% growth of 39 bps. During FY23, the company generated Rs. 200 Crore operating cashflow and Capex during the year stood at Rs. 110 Crore. 37% revenue and 51% PAT from overseas business and ROCE stood at 29% reported by the company during FY23. 

Commenting on the Performance Mr. Rajat Agrawal; Managing Director Gravita India Said “We are pleased to announce our strong financial results for the quarter and year ended March 31, 2023, with significant growth achieved in our value-added products and overseas business. We remain committed to creating value for our stakeholders and are excited to launch new recycling verticals in rubber, lithium, steel, and paper."

“Our ambitious Vision 2027 growth plan aims to achieve a revenue CAGR of 25% or more, with a focus on value-added products and non-lead business. To achieve this, we plan to enhance our capacity to 4,25,000 MTPA by FY 2026, with a capex investment of Rs. 600+ Crore. We are confident that our prudent approach and focus on creating a circular economy will drive sustainable growth for our company and create long-term value for all our stakeholders," Rajat Agrawal further added.

The shares of Gravita India closed today on the BSE at 514.45 apiece level, up by 1.33% from the previous close of 507.70. During the quarter ended March 2023 or Q4FY23, ace investor Ashish Kacholia held 14,84,399 shares or 2.15% stake in the company. 

“The company has come out with decent last quarter results, the revenue from the operation on a YoY basis grew by ~12%, however, the company saw a dip of ~5% on a sequential basis in the revenues. The volumes in all three segments; Lead, Aluminium, and plastic also came down by 3.74%, 4.02%, and 3.3% on a Q-o-Q basis. The company has reported other income of ~Rs.23 crores in Q4 and a total of ~Rs.93 crores for the full financial year 2023. The company will accelerate the next phase of growth with its future expansion plans in all segments by FY26 and a rising share of value-added products," said Diwakar Rana, Senior Research Analyst, Prudent Equity.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 02 May 2023, 04:23 PM IST
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