By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
Gravita India Limited (NSE: GRAVITA, BSE: 533282), 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 % 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 %
The EBITDA in Q4 FY18 stood at Rs. 24.99 crore from Rs. 19.20 crore; up 41.29 % in the same period last year.
Q4 Net Profit rose by18.94 % 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% YoY to Rs. 1029.48 crore from Rs. 688.14 crore of FY17.
EBITDA rose by 60.19 % YoY to Rs. 88.69 crore in FY18 from Rs. 55.37 crore in FY17
Net profit jumped 48.03 % 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.
About Gravita India Limited:
Gravita India Limited (www.gravitaindia.com), a leader in integrated operations of non-ferrous metals and plastics having recycling, manufacturing and Turnkey business in 7 countries of Asia, Africa and South America Continent. The company enjoys patronage of its products in more than 40 countries.
Forward looking statement:
We have disclosed forward-looking information so that investors can comprehend the Company’s prospects and make informed investment decisions. This release and other written and oral statements that we make periodically contain such forward-looking statements that set out anticipated results based on the Management’s plans and assumptions. We have tried, wherever possible, to qualify such statements by using 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 realised, 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 materialise, 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.