Gravita India Limited, Jaipur, has announced its Financial results for the quarter ended December 31, 2012. Consolidated Net total income for the quarter was Rs. 11307.01 Lacs, showing an increase of 59% over the total income for the corresponding quarter of previous year.
The EBITDA of the Company increased by 189% in Q3 FY 2012-13 compared to the corresponding quarter of previous year. Over the last 10 months, the Share of the Company has gained 21% outpacing the Sensex’s 14.5% gain. In addition to above the Board of Directors of the Company have declared 2nd Interim Dividend for the Financial Year 2012-13 @15% on total issued capital of the Company.
The Company has recently expanded its Plant operations at Jammu and Senegal by implementing upgraded Plant & Machinery. The Company is in the process of establishing a new plant in Gujarat. The Company’s Jaipur Plant is also under expansion of production capacity. See Results on Gravita India Ltd.
Gravita India Ltd. is Leading Indian Company having state-of-the-art Lead Processing unit at Jaipur (Rajasthan), INDIA. We carry out smelting of Lead Ore / Lead Concentrate / Lead Battery Scrap to produce primary & secondary Lead Metal, which is further transformed into Pure Lead, Specific Lead Alloy, Lead Oxides (Lead Sub-Oxide, Red Lead, and Litharge) and Lead Products like Lead Sheets, Lead Pipes etc. with proven technology and processes.
The Kerala State Pollution Control Board (PCB) is in the process of bringing dealers of Lead acid batteries under the newly introduced provisions of battery management. Accordingly, the dealers will have to get registered with the PCB.
The Batteries (Management and Handling) Rules, 2001, which had been in force, stipulated those dealers and other agencies handling lead acid batteries should file half-yearly returns on the number of batteries being handled. The rules were intended to ensure that the chemicals used in batteries are not handled unscientifically. There is a potential threat of polluting the environment due to improper handling or spilling of acid and other chemicals used in the battery. The new measure to get dealers registered with the PCB has been introduced as the direction on filing of half-yearly returns was not effective, a senior official of the PCB told The Hindu. The board had already asked 35 dealers to register with the board as per rules.
The initiative is to ensure accountability among dealers. Old batteries have to be disposed of scientifically or recycled in accordance with established norms to ensure that no pollution of environment takes place in the process. There are two battery recycling units in Kerala (in Palakkad and Pathanamthitta) which have been registered with the PCB.
While established companies have a mechanism to track down the batteries in use and recycling of them, there are local manufacturers who have inadequate set-up to handle hazardous chemicals or insufficient awareness, ultimately contributing to environmental degradation. The used battery would have to be neutralized under technical supervision.
Under the Batteries (Management and Handling) Rules, 2001, it is mandatory for manufacturers, assemblers, re-conditioners, importers and dealers to comply with the statutory requirements to ensure that used batteries were collected back against new batteries sold. The manufacturers, assemblers and re-conditioners were to file half-yearly returns of their sales and buy-back to the PCB concerned.
The rules also stipulated that collection centers be set up either individually or jointly at various places for collection of used batteries from consumers or dealers. The used batteries collected are to be sold only to the registered recyclers.
Source: The Hindu