Gravita Group expands production capacity of its existing lead recycling plant

Gravita India Ltd, a company engaged in the manufacturing of lead metal, announced today that its step-down subsidiary-Recyclers Ghana Limited, has scaled up the production capacity of its existing lead recycling plant from 12,000 MTPA to 16,200 MTPA.  

For this expansion, the group had made an investment of Rs 10 crore. It expects to earn a revenue of Rs 200 crore in FY22 along with a gross margin of around 15 per cent.  

Apart from this, owing to a rise in domestic procurement the company has fast-tracked the process of establishing a new unit at Mundra, Gujarat.  This establishment is expected to get completed by August 2021.  

This will help the company in saving the inward and outward logistics cost as the above-mentioned facility is closer to the port.  This will bring down the working capital requirement of the company and increase the share of business from overseas market; thereby resulting in higher margins. 

At 2.40 pm, the share price of Gravita India Ltd was trading at Rs 140.90, an increase of 1.18 per cent over the previous day’s closing price of Rs 139.25 on BSE.