Gravita India Limited Earnings Summary — Q4 FY2026

• Revenue reached a quarterly high of ₹1,173 crore, driven by expansion and capacity optimization.
• Operating Profitability (OPM) contracted to 10% from 12% in the previous quarter, signaling rising raw material or logistical costs.
• Net Profit was lower both year-over-year and quarter-over-quarter despite the significant revenue jump.
• Borrowings saw a sharp spike during the fiscal year, rising from ₹286 crore to ₹736 crore to fund aggressive global expansion.
• Inventory levels surged to ₹1,273 crore by year-end, which may impact liquidity and free cash flow in the near term.
• The company continues to diversify beyond lead, focusing on aluminum, plastic, and recently rubber and paper recycling.

Management is targeting a capacity of 4,25,000+ MTPA by 2026, focusing on moving from commodity recycling to high-margin value-added products like lead alloys and plastic granules.

Stable

While top-line growth is robust, the sequential decline in profit and margin compression indicates pressure from commodity price cycles and high debt servicing costs.

The outlook remains positive for long-term volume growth as the company scales its global scrap collection network, though quarterly performance will remain sensitive to LME price spreads and interest rate movements.