Gravita India Q1 FY27 Results: Profit Declines Marginally, Subsidiary Operations Cease
Gravita India reported Q1 FY27 consolidated PAT of ₹106.37 crore, up from ₹91.81 crore YoY. Standalone PAT was ₹68.05 crore, down from ₹69.67 crore. The company is closing its subsidiary Gravita Metal Inc. effective August 1, 2026, citing operational efficiencies. An additional 0.62% stake in RMIL was acquired for ₹3.48 crore.
The closure of a subsidiary and the mixed financial results warrant a medium impact. While the subsidiary's contribution is small, the strategic shift and financial performance are noteworthy.
The results show a mixed performance with consolidated profit increasing but standalone profit slightly decreasing. The closure of a subsidiary is a significant event but is stated to have no material impact.
Gravita India Limited's Board of Directors, in a meeting held on July 27, 2026, approved the unaudited financial results for the quarter ended June 30, 2026. The company also announced the closure of operations of its subsidiary, Gravita Metal Inc., effective August 1, 2026.
The closure of Gravita Metal Inc. is attributed to greater operational and cost efficiencies offered by the company's other manufacturing facility in Jaipur. Management believes this decision will lead to optimal utilization of Group resources and is not expected to have a material impact on the company's financial position. The subsidiary's turnover contributed 2.65% (₹92.24 crore), net worth 0.05% (₹1.00 crore), and PAT 0.55% (₹1.63 crore) to the company's financials in the last fiscal year.
For the quarter ended June 30, 2026, Gravita India reported standalone Profit After Tax (PAT) of ₹68.05 crore, a slight decrease from ₹69.67 crore in the corresponding quarter of the previous year. Total income for the quarter stood at ₹861.06 crore.
On a consolidated basis, the company's Profit After Tax (PAT) for the quarter ended June 30, 2026, was ₹106.37 crore, an increase from ₹91.81 crore in the same period last year. Total consolidated income rose to ₹1,522.60 crore from ₹1,181.62 crore in the prior-year period. The consolidated results also reflect the acquisition of an additional 0.62% stake in Rashtriya Metal Industries Limited for ₹3.48 crore, increasing Gravita's shareholding to 99.57%. Additionally, a step-down subsidiary in South Africa, Recyclers South Africa (PTY) Ltd, ceased operations during the quarter but had no business activity, thus having no material impact.
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