Gravita India Nears Full Ownership of RMIL

Gravita India Limited announced on April 16, 2026, that it has acquired an additional 20,400 equity shares in its subsidiary, Rashtriya Metal Industries Limited (RMIL). This purchase represents a 0.49% stake in RMIL, increasing Gravita India's total shareholding from the previously disclosed 98.95% to 99.44%.

Strategic Significance

This increased shareholding underscores Gravita India's ongoing strategy to consolidate its subsidiaries. A higher ownership percentage grants Gravita greater operational control and enhances its ability to integrate RMIL's financial reporting, aligning with its long-term objective of achieving 100% ownership of key subsidiary assets.

RMIL's Role in Gravita's Strategy

Rashtriya Metal Industries Limited (RMIL) is a critical component of Gravita India's metal recycling and manufacturing value chain. Gravita India, a prominent player in the non-ferrous metals recycling sector with international operations, has a history of systematically increasing its stake in RMIL to foster consolidation. For instance, on March 12, 2026, the company had previously raised its stake from 98.06% to 98.95%.

Transition to Enhanced Control

The acquisition is expected to lead to enhanced operational control and decision-making power for Gravita India over RMIL. This also facilitates more streamlined financial consolidation of RMIL's results, reducing the complexity associated with managing minority interests and progressing Gravita India's strategic goal of full subsidiary ownership.

Past Regulatory Scrutiny

Gravita India has previously navigated regulatory challenges, including scrutiny from exchanges concerning minimum public shareholding (MPS) norms. These issues were subsequently resolved.

Broader Industry Players

While direct competitors in specialized lead recycling are limited, broader industrial metal companies such as Hindalco Industries Ltd and Vedanta Ltd operate in related sectors. Hindalco is a major player in aluminium and copper, while Vedanta has diverse interests including zinc, lead, and aluminium production.

Financial Snapshot

For the nine months ended December 31, 2025, Gravita India reported consolidated revenue of ₹2,850 crore and a profit after tax of ₹212 crore. The company's consolidated debt-to-equity ratio stood at 0.75 as of that date.

Future Outlook

Investors will be monitoring Gravita India's subsequent steps toward acquiring the remaining stake in RMIL. Future performance and financial contributions of RMIL post-consolidation, along with Gravita India's broader strategy for subsidiary integration and growth, will also be key areas to track.