Shares of Gravita India Limited surged 5.56% on Thursday and closed at ₹ 352.00. In the past 6 months, it has gained ₹159.55 or 82.90% and in the past one year, it has gained ₹ 253.85 or 258.63%. In other words, the share was trading at ₹100 levels a year ago.
The company deals in the processing of lead and aluminium, recycling of plastic and turn-key lead recycling projects. It also manufactures customized aluminium alloys, plastic granules and pet flakes.
It operates in more than 40 countries around the world and some of its major clients include Exide, Tata Batteries, Schneider Electric, KEC, Amara Raja Batteries, KEI, Prysman, and Panasonic.
The company reported consolidated a total income of Rs. 560.47 crores during the period ended December 31, 2021, as compared to Rs.372.25 crores during the same period last year. It posted a net profit of ₹39.32 crores for the period ended December 31, 2021, as against a net profit of Rs.15.75 crores for the period ended December 31, 2020.
The share prices increased over time as the company announced that its “Refined Lead” of 99.98 per cent purity and above from its Chittoor plant was been empanelled as approved lead brands deliverable against MCX Lead futures contract.
In December 2021, it announced that it had operationalized its new battery recycling unit near the Mundra Port in Gujarat and plans to invest a total of Rs 62 crore to enhance its overall capacity to 48,000 MTPA.
The company said its plant is “well-positioned to cater to the growing demand from overseas markets and with higher operational efficiency it is expected to further enhance profitability”.
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