Gravita India Ltd.H1 revenue +40%, EBITDA ₹143 Cr, lead volumes hit by scrap

Gravita India's Q2 FY27 call, held on 28 October 2026, showed a recycler growing profits through copper and value-added products while a Gulf scrap disruption cut lead volumes.

Consolidated revenue rose 38% to ₹1,427 crore, adjusted EBITDA rose 28% to ₹143.37 crore at a margin above 10%, and profit after tax rose 6% to ₹102 crore. For the half, revenue rose 40%, EBITDA 29% and profit 10%. Copper EBITDA reached ₹84,671 a ton, with ₹65 to ₹70 a kg seen as sustainable, while lead volumes fell about 11% on raw material shortages. Management said the worst is over, new sourcing geographies start delivering from Q3, and a reverse charge rule on battery scrap is improving domestic supply.

It is incorporating a US subsidiary to build scrap yards, plans ₹1,680 crore of capex through FY29, and expects lead volumes to grow 18% to 20% a year for three years. No earlier promises were on file for comparison.