Q4 2024 Gravita India Ltd Earnings Call Transcript
Key Points
- Gravita India Ltd (BOM:533282) achieved record high revenue, EBITDA, and PAT for Q4 and FY24 despite logistics disruptions.
- The company’s pure lead produced at Gravita Mundra, Gujarat has been empaneled as an approved lead brand deliverable against MCX lead futures contract.
- Gravita Tanzania Limited increased its battery recycling capacity by 5,000 metric tonnes per annum, bringing the total capacity to 12,000 metric tonnes per annum.
- The Board of Directors approved an interim dividend of INR5.2 per equity share, continuing a 13-year track record of sustainable dividend payouts.
- Gravita India Ltd (BOM:533282) expanded its total capacity to over 3 lakh metric tonnes per annum in FY24, a 29% increase from FY23, with plans to reach 5 lakh metric tonnes per annum by FY27.
- Aluminum volume dropped to approximately 3,200 tonnes due to high risk of metal price fluctuations during the transit period for imports in India.
- The company faced logistics issues related to the Suez Canal, impacting volume growth in Q3 FY24.
- Working capital increased due to higher inventories and receivables, partly due to logistics disruptions and arbitrage opportunities.
- The qualification of recent financial statements regarding the accounting treatment of the sale of shares held by the trust for the benefit of employees led to differences in interpretation of accounting standards.
- The company’s Vision 2028 indicates a delay from the original Vision 2027, incorporating additional landmarks and targets, which may suggest potential delays in certain CapEx elements.
Ladies and gentlemen, good day, and welcome to Gravita India Limited Q4 FY24 earnings conference call hosted by Antique Stockbroking. (Operator Instructions) Please note that this call is being recorded.
I now hand the conference over to Mr. Manish Mahawar from Antique Stockbroking. Thank you, and over to you, sir.
Thank you, Steve. On behalf of Antique Stockbroking, I would like to welcome all the participants on the 4Q FY24 earnings call of Gravita India. From the management, we have Mr. Yogesh Malhotra, Whole-time Director and CEO; Mr. Vijay Kumar Pareekh, Executive Director; Mr. Naveen Prakash Sharma, Executive Director; and Mr. Suni 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 will open the floor for Q&A. Thank you, and over to Mr. Malhotra.
Thank you, Mr. Manish. Good
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