Company Update : Gravita India Ltd By Motilal Oswal Financial Services Ltd
Operating performance in line
* Consol. revenue grew 31% YoY to INR9.9b in 3QFY25.
* Gross margin contracted 370bp YoY to 15.8%.
* Adjusted EBITDA grew 14% YoY to INR1b during the quarter.
* Adjusted EBITDA margin contracted 160bp YoY to 10.3%.
* Adj. PAT grew 29% YoY to INR779m.
* Consolidated volumes rose 33% YoY to 53KMT in 3QFY25.
Segmental performance
* Lead business revenue grew 23% YoY to INR8.4b, led by 27% YoY volume growth, reaching 44KMT in 3QFY25. EBITDA/MT stood at INR19,030 (down 19% YoY).
* Aluminum business revenue grew 2.4x YoY to INR1.2b. Volumes stood at 6.3KMT, up 1.9x YoY, while EBITDA/MT increased 2.3x YoY to INR20,861.
* Plastic business revenue grew 44% YoY to INR255m and volumes were up 33% YoY to 3.3KMT. EBITDA/MT declined 7% YoY to INR10,353.
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