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Systematix Research Report
We come back positive from Gravita India Ltd.’s plant visit in Jaipur, Rajasthan. Set up in the 1990s by a first-generation promoter, Mr. Rajat Agarwal, Gravita India has come a long way since its initial days, when it traded in lead, lube oil, etc.
The company is now a leading recycler of used lead-acid batteries, lead scrap, aluminium and plastic scrap, and is present pan India, with plants located in the north, west and south, which allow it material fungibility.
Over the years, Gravita India has expanded operations by setting up plants in Sri Lanka and Ghana, Senegal, Mozambique, Tanzania in Africa, and Nicaragua in Central America.
As competitive intensity in African markets is low, Gravita is able to source inexpensive scrap. Its overseas business segment has seen huge growth in recent years, and now contributes 36% and 61% of topline and Ebitda, respectively (FY22 numbers).
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