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Gravita India Limited
(GRAVITA)
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Rating:54Neutral
Price Target:
₹1,443.00
▼(-21.63% Downside)
Action:Reiterated
Date:10/30/26
The score is primarily held back by weak cash-flow quality (negative free cash flow in 2026) and a bearish technical backdrop (below key moving averages with negative MACD). These are partially offset by strong historical revenue growth, improved profitability, and a stronger balance-sheet structure versus earlier years, while valuation and dividend yield are only moderately supportive.
Positive Factors
Multi-year revenue growth
Revenue increased from ~₹14.1B in 2021 to ~₹42.7B in 2026, demonstrating substantial multi-year expansion. This scale growth can broaden customer reach and improve operating leverage across recycling capacity, supporting a stronger base for continued earnings development over the next several quarters.
Negative Factors
Weak cash conversion
The decline in operating cash flow and reversal to negative free cash flow show that reported earnings are not converting consistently into available cash. Persistent cash-flow volatility can increase reliance on external funding and constrain investment or balance-sheet flexibility over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue growth
Revenue increased from ~₹14.1B in 2021 to ~₹42.7B in 2026, demonstrating substantial multi-year expansion. This scale growth can broaden customer reach and improve operating leverage across recycling capacity, supporting a stronger base for continued earnings development over the next several quarters.
Read all positive factors
Gravita India Limited (GRAVITA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹102.22B
Dividend Yield0.45%
Average Volume (3M)18.99K
Price to Earnings (P/E)25.4
Beta (1Y)1.72
Revenue Growth23.93%
EPS Growth8.39%
CountryIN
Employees3,500
SectorGeneral
Sector StrengthN/A
IndustryOther Precious Metals
Share Statistics
EPS (TTM)53.82
Shares Outstanding73,808,450
10 Day Avg. Volume15,322
30 Day Avg. Volume18,986
Financial Highlights & Ratios
PEG Ratio1.65
Price to Book (P/B)3.92
Price to Sales (P/S)2.25
P/FCF Ratio-234.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)60.62
Revenue Forecast (FY)₹63.09B
Gravita India Limited Business Overview & Revenue Model
Company Description
Established in 1992 and headquartered in Jaipur, India, this company specializes in the manufacturing and recycling of lead and aluminum, serving both domestic and international markets. Its diverse operations are structured across several key seg...
How the Company Makes Money
Gravita makes money by procuring scrap materials (primarily lead-acid battery scrap and other non-ferrous scrap), processing them through its recycling and refining operations, and selling the resulting recycled products at market-linked prices. I...
Gravita India Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.00B | 42.65B | 38.39B | 31.43B | 27.87B | 22.06B |
| Gross Profit | 7.15B | 6.27B | 6.39B | 5.69B | 4.95B | 4.57B |
| EBITDA | 5.38B | 5.12B | 4.26B | 3.51B | 2.79B | 2.09B |
| Net Income | 3.92B | 3.79B | 3.12B | 2.39B | 2.01B | 1.39B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 34.17B | 25.15B | 16.02B | 12.06B | 9.97B |
| Cash, Cash Equivalents and Short-Term Investments | 5.85B | 5.85B | 8.98B | 523.10M | 862.80M | 268.70M |
| Total Debt | 0.00 | 7.36B | 2.86B | 5.48B | 3.48B | 3.91B |
| Total Liabilities | -24.58B | 9.59B | 4.38B | 7.52B | 6.04B | 5.97B |
| Stockholders Equity | 24.58B | 24.52B | 20.70B | 8.37B | 5.89B | 3.87B |
Cash Flow | ||||||
| Free Cash Flow | -1.56B | -409.30M | 1.75B | -557.80M | 919.20M | -627.40M |
| Operating Cash Flow | -505.30M | 1.75B | 2.82B | 424.00M | 2.00B | 100.60M |
| Investing Cash Flow | -746.00M | -3.94B | -8.64B | -1.58B | -1.06B | -698.80M |
| Financing Cash Flow | 989.70M | 2.02B | 6.40B | 1.21B | -873.80M | 719.30M |
Gravita India Limited Technical Analysis
Negative
1841.20
Price Trends
1574.70
Negative
1650.52
Negative
1618.94
Negative
Market Momentum
-56.53
Negative
39.30
Neutral
39.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRAVITA, the sentiment is Negative. The current price of 1841.2 is above the 20-day moving average (MA) of 1428.67, above the 50-day MA of 1574.70, and above the 200-day MA of 1618.94, indicating a bearish trend. The MACD of -56.53 indicates Negative momentum. The RSI at 39.30 is Neutral, neither overbought nor oversold. The STOCH value of 39.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GRAVITA.
Gravita India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹13.79B | 37.55 | ― | 0.60% | 13.71% | 0.15% | |
62 Neutral | ₹380.01B | 285.81 | ― | ― | 94.62% | 103.35% | |
57 Neutral | ₹14.93B | 35.05 | ― | 0.04% | 12.70% | 4.68% | |
56 Neutral | ₹11.49B | 28.01 | ― | 0.53% | 4.22% | -1.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹102.22B | 25.40 | ― | 0.45% | 23.93% | 8.39% | |
43 Neutral | ₹117.71B | 109.83 | ― | 0.15% | 8.55% | -74.66% |
* General Sector Average
IN:GRAVITA
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Gravita India Limited Corporate Events
Gravita India Expands Global Recycling Network with Mozambique Subsidiary
Oct 8, 2026
Gravita India Limited has announced the incorporation of Green Maputo Recyclers, LDA as a step-down wholly owned subsidiary in the Republic of Mozambique. The entity has been set up through Gravita Netherlands B.V. and Gravita Global Pte. Ltd., wi...
Gravita India to Hold 34th AGM via Video Conferencing on September 28
Aug 30, 2026
Gravita India Limited has notified the stock exchanges that its 34th Annual General Meeting will be held on 28 September 2026 at 1:00 p.m. IST via video conferencing and other audio-visual means. The company has published the statutory AGM notice ...
Gravita India Schedules Analyst and Institutional Investor Meeting in Jaipur
Aug 26, 2026
Gravita India Limited has announced a scheduled meeting with various analysts and institutional investors on 2 September 2026, to be held physically in Jaipur. The company emphasized that the schedule may change due to exigencies and that no unpub...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.