Gravita India Reports FY26 Financials

Consolidated PAT up 21% to Rs 379 crore; Revenue grew 10% to Rs 4,265 crore.

Reader Takeaway: Strong growth in non-lead segments and RMIL acquisition drive performance despite auditor software qualification.

What just happened

Gravita India has released its FY26 annual report showing consistent financial growth. The company reported a net profit of Rs 379 crore, up from Rs 313 crore the previous year. Revenue reached Rs 4,265 crore, a 10% increase over the Rs 3,869 crore reported in FY25. The company also announced its 34th Annual General Meeting for September 28, 2026.

Why this matters

The results highlight Gravita’s successful transition from a pure-play lead recycler to a diversified multi-metal recycling company. The Rs 559 crore acquisition of a 98.95% stake in Rashtriya Metal Industries Limited (RMIL) signals a significant entry into the copper and copper alloy space, a key material for the EV and energy transition sectors.

Operational Highlights

• Lithium-ion Expansion: Commissioned a 6,000 MTPA recycling plant at the Mundra facility.
• Global Footprint: Operations now span 14 manufacturing plants across India, Africa, Asia, and Europe.
• Scale: The company maintains a scrap collection capacity of 3.30 lakh metric tonnes with 2,200+ global procurement touchpoints.

Risks to watch

The auditor's report contains a 'Qualified Opinion' regarding audit trail features in third-party software used for accounting and employee records. While management deems the impact immaterial, it remains a governance point for investors. Additionally, the company is exposed to global commodity price volatility on the LME, which impacts margins.

Management Changes

The board saw a transition with the appointment of Mr. Bhupendra Kumar Dak as an Independent Director in March 2026, following the resignation of Mr. Satish Kumar Agrawal.