Gravita India shares climb up to 10% after strong growth in June quarter | News on Markets
Illustration: Ajay Mohanty
Shares of Gravita India soared up to 10.18 per cent, at Rs 1,467.15 per share on the BSE in Monday’s intraday deals.
This came after the company on Saturday announced its financial results for the first quarter of FY25. Gravita India’s net profits increased by 29.4 per cent year on year to Rs 68 crore for the quarter ended June, up from Rs 53 crore in the corresponding quarter of the previous fiscal year.
Revenue for the three-month period rose by 29 per cent year-on-year to Rs 909 crore, compared to Rs 703 crore in the same period last year.
Operating income, or earnings before interest, taxes, depreciation, and amortisation (Ebitda), increased by 50 per cent year-on-year to Rs 88 crore. The Ebitda margin expanded to 9.7 per cent from 8.3 per cent in the corresponding period of the previous year.
“Q1FY25 performance shows a great start to FY25. Proportion of Value-added products and availability of domestic scrap continues to increase. Gravita is well-positioned for growth with its ambitious expansion plans, strong balance sheet, stringent Government Regulations, and support from all the stakeholders,” said Yogesh Malhotra
Whole Time Director & CEO, Gravita.
The company has a total market capitalisation of Rs 9,922.82 crore, according to BSE. The company’s shares are trading at a price to earnings multiple of 52.02 times with an earning per share of Rs 25.07.
At 12:53 PM, shares of the company were trading 7.78 per cent higher at Rs 1435.10 a piece. By comparison, the BSE Sensex was down by 0.16 per cent at 80,476 levels.
Gravita India operates in lead processing, aluminium processing, turn-key solutions, and plastic manufacturing segments.
First Published: Jul 22 2024 | 1:21 PM IST
