Gravita India Limited (GRAVITA) AI Stock Analysis

Gravita India Limited

(NSE:GRAVITA)

Select Model

Rating:54Neutral

Price Target:INR 1,443.00▲(4.19% Upside)

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 growthRevenue 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 conversionThe 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.

Gravita India Limited (GRAVITA) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 104.26B
Dividend Yield: 0.46%
Average Volume (3M): 18.25K
Price to Earnings (P/E): 25.4
Beta (1Y): 1.72
Revenue Growth: 23.93%
EPS Growth: 8.39%
Country: India
Employees: 3,500
Sector: General
Sector Strength: 55
Industry: Other Precious Metals

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 segmen...

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. Its...

Gravita India Limited Financial Statement Overview

Summary

Strong multi-year revenue growth and improved net margins support the score, and leverage has structurally improved to a low debt-to-equity level. However, cash generation is the major drag: operating cash flow declined in 2026 and free cash flow turned negative, signaling inconsistent cash conversion and higher near-term funding sensitivity.

Income Statement

78Positive

Balance Sheet

74Positive

Cash Flow

38Negative

Financial statement breakdown
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	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	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

Technical Analysis SentimentNegative

Last Price1385.00

Price Trends

50DMA1574.70Negative

100DMA1650.52Negative

200DMA1618.94Negative

Market Momentum

MACD-56.53Negative

RSI39.30Neutral

STOCH39.47Neutral

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 1385.00 is below the 20-day moving average (MA) of 1428.67, below the 50-day MA of 1574.70, and below 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GRAVITA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:NELCAST	72Outperform	INR 11.49B	28.01	―	0.53%	4.22%	-1.86%
IN:ALICON	65Neutral	INR 13.79B	37.55	―	0.60%	13.71%	0.15%
IN:PTCIL	62Neutral	INR 380.01B	285.81	―	―	94.62%	103.35%
IN:MANAKCOAT	56Neutral	INR 14.93B	35.05	―	0.04%	12.70%	4.68%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:RKFORGE	54Neutral	INR 117.71B	109.83	―	0.15%	25.19%	-38.28%
IN:GRAVITA	54Neutral	INR 102.22B	25.40	―	0.46%	23.93%	8.39%

* General Sector Average

Performance Comparison

IN:GRAVITA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GRAVITA	Gravita India Limited	1385.00	-420.90	-23.31%
IN:ALICON	Alicon Castalloy Limited	840.00	-114.93	-12.04%
IN:MANAKCOAT	Manaksia Coated Metals & Industries Ltd	140.00	-21.88	-13.52%
IN:NELCAST	Nelcast Limited	132.10	16.73	14.50%
IN:PTCIL	PTC Industries Ltd	23979.25	6588.80	37.89%
IN:RKFORGE	Ramkrishna Forgings Ltd	646.15	104.87	19.37%

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., with...

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 in...

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 unpublis...

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.

Date of analysis: Oct 30, 2026

Gravita India Limited AI Stock Analysis