Gravita India Q1 Results Operating Income Hits ₹81.15 Crores

Gravita India Q1 Results: Gravita India recently released its Q1 results for the fiscal period ending June 2024. The total revenue for this quarter was ₹907.86 crores, showing a significant increase compared to ₹703.39 crores in the same quarter last year. This year-over-year (YoY) growth in revenue highlights the company's strong performance and effective strategies. Additionally, when comparing this quarter's results to the previous quarter (QoQ), the revenue rose from ₹748.93 crores, indicating a solid quarter-on-quarter (QoQ) increase.

Gravita India's selling, general, and administrative expenses totaled ₹42.76 crores in June 2024, up from ₹39.26 crores in June 2023, reflecting a YoY increase. Other operating expenses also showed a YoY rise, totaling ₹48.88 crores this quarter compared to ₹42.82 crores last year. Despite these increases in expenses, the company managed to achieve an operating income of ₹81.15 crores, a significant YoY improvement from ₹50.51 crores in the same quarter last year. Furthermore, the net income for this quarter was ₹67.33 crores, up from ₹52.08 crores a year ago, showcasing another strong YoY increase. 

Here’s the Q1 results summary for Gravita India, presented in a simple format:

(Rs. in Crores, except the shares)

Source: Here 

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Gravita India Q1 Results

Gravita India has shared its financial results for the quarter that ended on June 30, 2024. In this period, the company earned a total income of ₹15,878 crores. This is much higher than the income from the previous quarter, which was ₹7,363 crores. The main source of this income was revenue from operations, which accounted for ₹15,714 crores. Gravita also made ₹164 crores from other sources.

Gravita India’s total expenses for the quarter were ₹7,161 crores, which is also higher than previous quarters. The main expenses included costs for materials, employee salaries, and other operational costs. After deducting expenses from total income, Gravita India made a profit before tax of ₹8,717 crores.

Gravita India’s After paying taxes, which were ₹694 crores, the profit for the period stood at ₹8,023 crores. The company also reported some other comprehensive income items, leading to a total comprehensive income of ₹8,096 crores. The earnings per share for Gravita India were ₹5.19. Overall, these results show that Gravita India had a strong financial performance in this quarter, indicating growth and stability in its operations.

Here’s a simplified version of the statement of Standaione's unaudited financial results for the quarter ended June 30, 2024:

(in crores)

Gravita India Stock Performance

Gravita India is a company with a market capitalization of ₹16,625 crore, which means this is its total value in the stock market. The current stock price is ₹2,408. The stock has reached a high of ₹2,700 and a low of ₹730 in the past. The Price-to-Earnings (P/E) ratio is 65.3, indicating how much investors are willing to pay for each unit of profit. The book value per share is ₹121, showing the company's net asset value. The dividend yield of 0.23% means that shareholders earn a small return from dividends. Gravita India has strong returns, with a Return on Capital Employed (ROCE) of 27.9% and a Return on Equity (ROE) of 33.7%. 

Here's a summarized table based on the information you provided:

Quarterly Results 

Gravita India’s financial results for December 2023, March 2024, and June 2024 show positive growth in several areas. In December 2023, the company reported sales of 758 crores and a net profit of 61 crores. By March 2024, sales increased to 863 crores, with a net profit rising to 69 crores, highlighting strong business performance. In June 2024, sales reached 908 crores, and the net profit was 68 crores, showing stability. 

Here are the quarterly financial results for December 2023, March 2024, and June 2024, presented in a table format with specific particulars:

(Consolidated Figures in Rs. Crores)

About Gravita India 

Gravita India is a well-known company that focuses on recycling and manufacturing materials. They work with lead metal and lead products, aluminium alloys, and plastic granules. The company is not just about recycling; they are committed to sustainability and creating a cleaner environment. Gravita has advanced facilities for recycling lead batteries and other metals, making them a leader in the industry. With customers in over 38 countries, more than half of their income comes from international markets.

Gravita India main offices are in India, including Jaipur, Kathua, Mundra, and Chittoor, and they also have facilities in countries like Ghana and Tanzania. Gravita India is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). They are recognized for their excellent customer service and technical knowledge. Gravita aims to create a better future by promoting sustainability and environmental responsibility in everything they do.