Gravita has been allotted the status of an Authorized Economic Operator-T2 under a major programme undertaken by the Customs and Excise Department.
The Authorized Economic Operator plan works under the World Customs Organization’s (WCO) SAFE framework of Standards to secure and facilitate global trade.
This programme aims to enhance international supply chain security and smoothen the movement of legitimate goods. AEO encompasses various players in the global supply chain. Under this programme, an entity engaged in international trade is approved by Customs as compliant on its supply chain security standards and granted AEO status with certain benefits.
About 30 companies have been given this prestigious AEO-T2 standard as on date by the Customs and Excise Department and Gravita India Limited is honored to be on this list.
Gravita Honored with the world Non Ferrous Award for being “The Best performing company” in the Non-ferrous Metals Sector. The award was organized by MTLEXS in a ceremony held at hyatt Regency, Mumbai on Septum 08, 2017 in collaboration with leading news-channeL ET Now and KPMG as the Knowledge partner.
Gravita declared its Consolidated and Standalone Financial Results for the financial year and fourth quarter ended 31st March, 2017 at the Meeting of its Board of Directors held on 15th May, 2017. There is a marked improvement both in Turnover and Profitability as the Consolidated Net Profit of the company for the year stood at Rs. 30.30 crore as compared to Rs 4.37 crore in F.Y. 2015-16 respectively. Similarly, the Standalone Net Profit of the company for the year stood at Rs.22.65 crore as compared to Rs. 3.27 crore in F.Y. 2015-16. The highlights of the same are given below:
Consolidated Financial Highlights for Q4
Consolidated total revenue during the quarter increased to Rs. 202.63 crore from Rs. 118.83 crore in corresponding quarter, representing a growth of 71%.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 18.51 crore as compared to EBITDA of Rs. 4.02 crore in corresponding quarter, depicting a growth of 360%.
Net Profit After Tax and Minority Interest stood at Rs. 10.18 crore as compared to Loss of Rs. 0.21 crore in corresponding quarter.
Standalone Financial Highlights for Q4
Total revenue for the quarter increased to Rs. 171.13 crore from Rs. 98.65 crore in corresponding quarter, depicting a growth of 73%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 13.41 crore as compared to profit of Rs. 1.44 crore in corresponding quarter, depicting a growth of 831%.
Net Profit After Tax stood at Rs. 8.21 crore as compared to profit of Rs. 0.80 crore in corresponding quarter, depicting a growth of 930%.
Consolidated Financial Highlights for the Year Ended 2016-17
Total revenue for the year ended 31 March 2017 increased to Rs. 655.68 crore from Rs. 431.20 crore in corresponding year, depicting a growth of 52%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 55.42 crore as compared to profit of Rs. 16.03 crore in corresponding year, depicting a growth of 246%.
Net Profit After Tax for the year ended 31 March 2017 stood at Rs. 30.30 crore as compared to profit of Rs. 4.37 crore in corresponding year depicting a growth of 593%.
Standalone Financial Highlights for the Year Ended 2016-17
Total revenue for the year increased to Rs. 534.00 crore from Rs. 353.84 crore in corresponding year, depicting a growth of 51%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 38.32 crore as compared to profit of Rs. 8.86 crore in corresponding year, depicting a growth of 332%.
Net Profit After Tax stood at Rs. 22.65 crore as compared to net profit of Rs. 3.27 crore in corresponding year, depicting a growth of 594%.
The Board of Directors at their meeting held on 15th May, 2017 recommended a Final Dividend of Rs. 0.60 per share, i.e. 30% on each equity share having of face value of Rs. 2/- each
The Company is growing at a CAGR of 40% in revenue and 31% in profitability since last 10 years.
Gravita commenced its new lead recycling plant in Chittoor in AP in January this year. The plant, which has production capacity of 12000 metric tonne per annum (MTPA), aims to tap the opportunity of domestic scrap available with the large telecom players, UPS batteries from IT offices in and around southern markets by entering into long-term contracts to collect their pan-India scrap in cost effective manner. Being near to the Chennai port, the plant cuts the company’s logistics cost in exporting the finished goods. The plant, built with an investment of approximately Rs. 25 crore, is expected to help Gravita to strengthen its presence in Southern market and for exports in the Far East markets.
The company’s product caters to the Auto, Telecom, Power, Nuclear and Medical industries. Gravita is also one of the leading Turn-key project suppliers for Lead smelting, recycling and pollution-control equipment, having supplied 59 plants in 41 countries across the globe.
The Turnkey solution business of Gravita has recently received orders worth Rs. 15 crore from Metal Lead Factory for metal casting & Quiwan Group from the Middle East region.
In the recent past, the company has added aluminum and Plastics recycling to its portfolio, which are expected to drive the company’s growth in the coming years. Over years, the company has diversified into Recycling of non-ferrous metals, Plastics industry and Turnkey Solutions. Gravita has plants in India, Sri Lanka, Ghana, Mozambique, Senegal, Tanzania, Mauritania, Nicaragua and Jamaica.
Gravita achieved one more milestone towards our journey of achieving 2020 Goal with clear focus on executing the plan , collaborating within and working on strengths which outflow the limitations around environment . We are happy to be recognized as one of the Fastest Growing Organization in “Feather Weights Category” by most trusted business magazine Business World. We have been ranked as 31st in series with 28% growth in PAT and outperform all sentiments in lead industry .
The India SME Forum, a not for profit initiative was formed to propel the SME movement, by nurturing entrepreneurship and support innovative, globally competitive, SMEs in India. Their Mission is to foster the development of a flourishing entrepreneurial culture and a competitive SMEs sector to support economic development. The core strategies to bring this about include Listening, Sharing and Advocating for a Pro-Business Environment and Identifying, Enabling and Seeding Innovative Start-ups and Recognizing, Grooming and Supporting, Promising SMEs. In order to enable the SMEs to share best practices, converge and address their concerns, reward success: on-ground forums are being organized across the country to create a year round meeting platform for SMEs to help build competitiveness, profitability.
In line with the strategy to groom promising SMEs, the India SME 100 ranking will act as catalyst to identify such SMEs and recognize them for eventually becoming large global oriented companies. The award also hope to inspire willing and able SMEs that have potential to be World Class enterprises and offer them the platform to promote themselves to investors and partners to sustain growth.
We are very Happy to Share with you that with continuous focus on improving the overall process of business development and sustaining our efforts on scaling up as per Global Standards, our own organization GRAVITA India Limited has been rewarded on 2nd Aug at Gala Function at Mumbai which has been facilitated by Honorable Lok Sabah Speaker Smt. Sumitra Mahajan and Mr. Kalraj Mishra – Union Minster MSME.
Our visionary Managing Director Sh. Rajat Agarwal received the reward on behalf of many aspirants in same category .Everyone in GRAVITA today is feeling overwhelmed with this reward which will go a long way in building our confidence in core ideology of GRAVITA.