- FY18 Profit after Tax up 48.03 % to 45.21 cr. vs.30.54 cr. in FY 17
- Board recommends final dividend of Rs. 0.70 (35%) for FY18
- Bags orders worth Rs 300 crore from Singapore firm Kyen Resources Pte Ltd
- Bags orders worth Rs. 250 crore from Luminous Power Technologies
- Started Commercial production of Red Lead Oxide with new plant capacity of 7500 MTPA
Jaipur: Gravita India Limited, one of the leading recycling multinational companies, declared its financial results for the quarter and financial year ended March 31, 2018. The results show that the profit of the company after tax grew to Rs. 11.11 crore as against Rs. 9.34 crore for the corresponding quarter last year. The net profit increased by 18.94 per cent. Profit After Tax (PAT) margin stood at 3.07 per cent in Q4 FY18 versus 4.39 per cent in Q4 FY17.
Commenting on the results, Rajat Agrawal, MD at Gravita India said, “We are pleased to announce the results and they are in-line with our expectations. Our recently commissioned commercial production of Lead Tetra Oxide at Jaipur and PPCP Granules Lines at Chittoor plant; the recent order-win from Singapore will strengthen our top line and bottom line in FY18-19.”
The revenue of the company in the fourth quarter increased by more than 70 per cent i.e. from Rs. 212.65 crore to Rs. 362.44 crore as compared to last year. The EBITDA (Earnings before interest, taxes, depreciation, and amortization) of the company also increased up to 41.29 per cent. The EBITDA in fourth quarter of FY18 were recorded to be Rs. 24.99 crore while it was Rs. 19.20 crore in the same period last year.
Highlights of Consolidated full-year FY18 Performance
- Net sales increased by 49.60% YoY to Rs. 1029.48 crore from Rs. 688.14 crore of FY17.
- EBITDA rose by 60.19 % YoY to Rs. 88.69 crore in FY18 from Rs. 55.37 crore in FY17
- Net profit jumped 48.03 % to Rs. 45.21 crore from Rs. 30.54 crore in FY17.
- EPS stands at Rs. 6.42 vs. EPS of Rs. 4.78 in FY17
Highlights during the Quarter
- Gravita India received orders worth Rs. 250 crore from Luminous Power Technologies Private Limited which is a part of European Schneider group.
- During the quarter the company also bagged orders worth Rs 300 crore from Singapore firm Kyen Resources Pte Ltd for supplying 18,000 MT of pure lead and lead bullion. Besides helping it strengthen its top line and bottom line, the new orders will help Gravita expand its global footprint across new geographies like Europe, North America, South America, Africa and Asia among others.
- The company also commenced commercial production of Lead Tetra Oxide (Red Lead Oxide) at its Jaipur unit with a capacity of 7500 MTPA. The Red Lead Oxide is a value-added product and will help the company to cater new segments like ceramic tiles, crystal glass, anti-corrosive paints and inverter and solar batteries.