Gravita India Q2 FY27 Earnings Call Transcript Released
Gravita India's Q2 FY27 earnings call transcript reveals H1 FY27 revenue, EBITDA, and PAT grew 40%, 29%, and 10%. The company plans ₹64 crore copper recycling capacity expansion at Mundra by March 2029 and ₹160 crore at Mandvi within 12 months. Total capex of ₹1,680 crore planned by FY29. Q2 FY27 consolidated revenue rose 38% to ₹1,427 crore.
The announcement details significant strategic expansions, large capital expenditures, and a new international subsidiary focused on sourcing. These initiatives are expected to have a material impact on the company's future growth, operational capacity, and market positioning in the recycling sector.
The company reported resilient performance with significant growth in revenue, EBITDA, and PAT for H1 FY27. Strategic expansion plans in copper recycling and lithium-ion battery recycling, along with a substantial capital expenditure program and the establishment of a US subsidiary for sourcing, indicate positive future outlook.
Gravita India Limited has released the transcript of its earnings conference call for the quarter and half-year ended September 30, 2026. The call, held on October 28, 2026, featured the management team including Mr. Yogesh Malhotra (Whole-Time Director and CEO) and Mr. Sunil Kansal (Whole-Time Director and CFO).
During the call, the management highlighted a resilient performance in Q2 and H1 FY27, with H1 FY27 revenues, EBITDA, and PAT growing by 40%, 29%, and 10% respectively. This growth was attributed to an improved product mix, operational efficiencies, and contributions from diversified recycling businesses.
Strategic initiatives discussed include a planned expansion of copper recycling capacity by 59,200 metric tons per annum at Mundra with an investment of approximately ₹64 crores, expected to be commissioned in phases by March 2029. Additionally, a 29,400 metric tons per annum copper recycling facility at Mandvi, Gujarat, with an investment of approximately ₹160 crores, is on track for commissioning within 12 months. Gravita also approved an investment of approximately ₹94.42 crores in the rights issue of Rashtriya Metal Industries Limited (RMIL).
The company has embarked on a total capital expenditure of ₹1,680 crores through FY29, with ₹815 crores allocated to strengthening existing businesses and the remainder for new recycling verticals, including lithium-ion battery and copper recycling.
A wholly-owned subsidiary, Gravita Recyclers USA, Inc., is being incorporated in the United States with an initial capital of US$50,000 to establish a scrap procurement network. This move aims to enhance international sourcing resilience and reduce dependence on specific geographies.
Operationally, total volumes increased by 3% year-on-year to 52,199 metric tons per annum in Q2 FY27. Value-added products contributed 64% of total sales in H1 FY27. Consolidated revenue for Q2 FY27 grew by 38% year-on-year to ₹1,427 crores, with Adjusted EBITDA increasing by 28% to ₹143.37 crores and Consolidated PAT growing by 6% to ₹102 crores.
Management expressed optimism about scaling lithium-ion battery recycling and strengthening core businesses, expanding into new verticals, and increasing the contribution of value-added products towards their Vision 2030 targets. The company also confirmed that copper and lead positions are hedged.
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