Q1 2025 Gravita India Ltd Earnings Call Transcript
Key Points
- Revenue for Q1 FY25 increased by 29% to INR908 crores.
- Adjusted EBITDA for Q1 FY25 increased to INR91.24 crore, up by 33% year-on-year.
- PAT showed a significant increase of 29% to INR67.33 crores year-on-year in Q1 FY25.
- Gravita India Ltd (BOM:533282) is setting up a pilot project for lithium-ion recycling and its first Indian tire recycling plant at Mundra, expected to be operational in H1 FY26.
- The company is advancing strategically to meet its short-term, mid-term, and long-term goals by FY27, FY34, and FY50, respectively, as outlined in its ESG roadmap.
- Employee costs saw a material increase of close to 60% quarter-on-quarter due to additional incentives and annual increments.
- Other income reduced materially on a quarter-on-quarter and year-on-year basis.
- Closure of subsidiaries in Costa Rica and Jamaica, although non-operational, indicates a strategic exit from certain geographies.
- The hedging mechanism for aluminum is not yet in place, leading to potential volatility in margins.
- The company faces challenges in achieving more than 70-80% capacity utilization due to the non-linear flow of scrap material.
Ladies and gentlemen, good day, and welcome to the Gravita India Limited Q1 FY25 conference call hosted by Antique Stock Broking. (Operator Instructions) Please note that this conference is being recorded.
And I'll hand the conference over to Mr. Manish Mahawar from Antique Stock Broking. Thank you, and over to you.
Thank you, Neha. On behalf of Antique Stock Broking, I would like to welcome all the participants on the 1Q FY25 earnings call of Gravita India. From the management we have Mr. Yogesh Malhotra, Whole-Time Director and CEO; Mr. Vijay Pareek, Executive Director; Mr. Naveen Sharma, Executive Director; and Mr. Sunil Kansal, CFO, on the call.
Without further ado, I would like to hand over the call to Mr. Malhotra for opening remarks, post which we'll open the floor for Q&A. Over to you, Malhotra.
Thank you, Mr. Manish. Good afternoon, ladies and gentlemen
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