Gravita India (GRAVITA) Q4 24/25 earnings summary

Executive summary

• Achieved record revenue, EBITDA, and PAT in FY2025, with a five-year CAGR of 23% in revenue and 57% in PAT, and maintained a net debt-free status.

• Strategic focus on expanding core and new recycling verticals, targeting 25%+ volume CAGR and 35%+ profitability growth by 2029, with emphasis on ESG priorities and renewable energy initiatives.

• Completed a Qualified Institutional Placement (QIP) raising ₹1,000 crore, with proceeds used for debt repayment, asset acquisition, and working capital.

• Board approved an interim dividend of INR 6.35 per share, continuing a 14-year track record of payouts.

• Acquisition of a rubber recycling business in Romania completed in Q4 FY25 for ₹39.16 crore.

Financial highlights

• FY2025 revenue rose 22% year-over-year to INR 3,869 crore; Q4 revenue up 20% YoY to INR 1,037 crore.

• Adjusted EBITDA increased 22% to INR 404 crore for FY2025; PAT grew 31% YoY to INR 312 crore.

• Overseas business contributed 32% of revenue and 25% of profit in Q4 FY25.

• Cash flow from operations surged from INR 42 crore to INR 282 crore; cash and cash equivalents at year-end increased to ₹94.61 crore.

• Earnings per share (EPS) for FY25 stood at ₹45.11, compared to ₹34.88 in FY24.

Outlook and guidance

• Targeting 25-30% annual capacity and revenue growth over the next three years, with FY2026 growth expected in the 20-30% range depending on CAPEX execution.

• Aims for volume CAGR above 25%, profitability growth over 35%, and ROIC above 25% through FY29.

• Over ₹1,500 Cr capex planned to reach 700,000+ MTPA capacity by FY28.

• Interim dividend of ₹6.35 per share (₹46.87 crore total) approved in May 2025.