Gravita India Limited, a leading recycling company, has reported robust financial results for the first half of FY26, demonstrating steady growth across key metrics. The company also unveiled ambitious expansion plans, aiming to more than double its capacity by FY28.

Financial Highlights

For H1 FY26, Gravita India reported:

The company's Q2 FY26 performance was equally impressive:

Expansion Plans and Strategic Initiatives

Gravita India has outlined an ambitious growth strategy:

• Capacity Expansion: The company aims to increase its installed capacity from the current 3.40 lakh metric tons per annum to over 7 lakh metric tons by FY28.
• Capex Realignment: The capex budget has been adjusted to approximately INR 1,225 crore by FY28, with INR 850 crore allocated for strengthening existing verticals and the remainder for diversification initiatives.
• Mundra Facility Expansion:
  • Phase 1 (30,000 metric tons) expected by November 2025
  • Phase 2 (50,000 metric tons) targeted for January 2026
• Phagi Lead Recycling: Capacity enhancement of 45,000 metric tons per annum, expected completion by December 2026.
• Diversification: Entry into lithium-ion battery recycling with a pilot unit at Mundra scheduled to be operational in Q3 FY26.

Value-Added Products and Market Presence

• 47% of revenue in H1 FY26 came from value-added products, progressing towards the Vision 2029 target of 50% contribution.
• The company operates across 70+ countries with 13 environmentally responsible state-of-the-art facilities.

Management Commentary

Yogesh Malhotra, Whole Time Director and CEO, stated, "Gravita delivered a steady performance in H1 FY26, reflecting consistent strength across operational and financial parameters in all major business verticals. Supported by a net debt-free balance sheet, the company remains well-positioned for continued growth and long-term value creation."

Future Outlook

Gravita India is advancing towards its Vision 2029, focusing on scaling core businesses and expanding into emerging sectors. The company is targeting:

• Volume CAGR of over 25%
• Profitability growth above 35%
• Maintaining ROIC of over 25%
• Increasing non-lead segment share to 30% of total revenue
• Meeting 30% of energy needs through renewables
• Reducing energy intensity by more than 10%

With its strong financial performance, ambitious expansion plans, and focus on value-added products, Gravita India appears well-positioned for sustainable growth in the recycling industry.

Gravita India , a leading recycling company, has reported robust financial results for the second quarter of fiscal year 2026, while also announcing ambitious growth targets for the coming years. The company aims to achieve a compound annual growth rate (CAGR) of over 25% by FY27, with plans to reach ₹4,000 crore in revenue and ₹600 crore in EBITDA.

Q2 FY2026 Financial Highlights

For the quarter ended September 30, 2025, Gravita India reported:

• Consolidated revenue from operations of ₹1,035.50 crore, up 12% year-on-year
• EBITDA of ₹111.81 crore, with an EBITDA margin of 10.80%
• Net profit after tax of ₹95.97 crore, a significant increase of 33% compared to the same quarter last year
• Earnings per share (EPS) of ₹13.38, up from ₹10.66 in Q2 FY2025

Segment-wise Performance

The company's performance across its key business segments for Q2 FY2026 was as follows:

Growth Strategy and Targets

Gravita India has outlined an ambitious growth strategy, focusing on:

1. Capacity Expansion: The company plans to increase its battery recycling capacity to 410,000 tonnes per annum across lead, aluminum, and plastic verticals.

2. Global Footprint: Gravita aims to expand its presence in Africa and Asia, leveraging its existing international operations.

3. Margin Sustainability: Through backward integration, the company intends to maintain sustainable margins above 15%.

4. Financial Targets:

   • Revenue goal of ₹4,000 crore by FY27
   • EBITDA target of ₹600 crore
   • Targeting a CAGR of over 25% by FY27

5. Return on Capital: The company is focused on achieving high return on capital employed.

Management Commentary

Yogesh Malhotra, Whole Time Director & CEO, commented on the results: "Gravita has reported a steady performance in H1FY26, showcasing consistent strength across both operational and financial parameters in all major business verticals. We remain committed to achieving over 25% volume CAGR, 35%+ profitability growth, and 25%+ ROIC, while steadily increasing the share of value-added products beyond 50% and non-lead segments above 30%."

Future Outlook

Gravita India's growth strategy aligns with its VISION 2029, which includes:

• Diversification into new recycling verticals such as lithium, steel, rubber, and paper
• Increasing the share of value-added products to over 50%
• Expanding non-lead business to more than 30% of total revenue
• Focusing on sustainable practices, including a 10%+ reduction in energy consumption and 30%+ renewable power usage

The company's strong Q2 FY2026 results and ambitious growth targets reflect its confidence in the recycling sector's potential and its ability to capitalize on emerging opportunities in the circular economy.

Investors and stakeholders will be watching closely to see how Gravita India executes its expansion plans and navigates the challenges of rapid growth in the coming years.