Gravita India Limited PAT up by 103% in Q1-FY21

Key financial highlights of the Q1-FY 21

- Revenue INR 258.45 Cr
- EBITDA INR 12.64 Cr
- PAT INR 3.88 Cr
- EPS INR 0.57
- Sales Quantity: Lead 16,221 MT, Aluminum 973 MT & Plastics 2,493 MT

Operational Highlights

During Ql-FY21 the consolidated revenue of the company stood al Rs. 258.45 Cr and Profit after tax stood at Rs. 3.88 Cr. The increase in profit margins of the company is due to significant increase in sales volumes from overseas manufacturing facilities where company enjoys better margins coupled with lower working capital cycle.

The overall production during the quarter has increased by ~ 2% from corresponding quarter of previous year despite adverse condition related to Covid-19 pandemic around the world. Further, during the quarter the sales volume of Lead products has also increased by ~ 7% from corresponding quarter of previous year.

Road Ahead

The company has plans to focus on optimizing its overseas manufacturing facilities along with improving its scrap collection network in India to help improve its profitability by reducing logistic costs of importing the scrap in India and also reducing working capital cycle. Additionally the company continues to focus on improving product and market mix to get better margins.

Mr. Rajat Agrawal, Managing Director, Gravita India Limited said, "During the quarter the company has been able to achieve remarkable performance in spite of adverse market conditions globally due to COVID 19 pandemic and lower metal prices. We expect the better operational performance coupled with volume growth in upcoming quarters."

Shares of GRAVITA INDIA LTD. was last trading in BSE at Rs.48.4 as compared to the previous close of Rs. 48.95. The total number of shares traded during the day was 13765 in over 137 trades.

The stock hit an intraday high of Rs. 50.7 and intraday low of 48.4. The net turnover during the day was Rs. 679046.

Source : Equity Bulls

Keywords