Gravita India Limited (GRAVITA)

Metals & Mining · Minerals & Mining · NSE · Updated 16 July 2026

₹1,829.5 ↑ 6.19% (1Y)

🎯 Key Takeaways

Gravita India Limited is transitioning from a period of modest growth to a more stable, credit-strengthening phase, marked by improving operational performance and upgraded credit ratings for its subsidiary. The company is demonstrating consistent revenue and margin expansion across quarters, with profitability trends aligning with strategic refinements in its business structure.
Revenue grew 7.4% QoQ to ₹996 in Q3FY25.
⚠️ 1) Margin volatility remains a concern, as operating margins peaked in Q3FY24 (10.6%) but have not been consistently sustained, indicating exposure to

Market Cap

₹12,460

P/E Ratio

40.4

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Gravita India Limited is transitioning from a period of modest growth to a more stable, credit-strengthening phase, marked by improving operational performance and upgraded credit ratings for its subsidiary. The company is demonstrating consistent revenue and margin expansion across quarters, with profitability trends aligning with strategic refinements in its business structure. Management appears focused on enhancing financial credibility and operational efficiency rather than aggressive expansion.

📰 What's Happening

In June 2026, Gravita India announced the closure of its trading window ahead of un-audited Q1FY26 results, signaling upcoming financial disclosure. Earlier, in June 2026, its subsidiary Rashtriya Metal Industries received an upgraded credit rating of AA/Stable (long-term) and IVR A1+ (short-term) from Infomerics, with the outlook changed to stable and removed from watch. This follows a prior positive revision in May 2026 by India Ratings, which upgraded the bank loan facility outlook to Positive while maintaining IND AA- rating. These credit rating improvements reflect strengthened financial health and reduced perceived risk in the company's debt profile.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	749	703	836	758	863	908	927	996
Operating Profit	87	82	87	96	97	95	104	110
OPM %	8.5%	8.3%	8.7%	10.6%	8.4%	9.7%	6.8%	8.1%
Net Profit	64	53	59	61	69	68	72	78
EPS	₹9.43	₹7.70	₹8.52	₹8.74	₹9.92	₹9.82	₹10.66	₹11.35

The company has shown sequential growth in revenue and operating profit over the past eight quarters, with Q3FY25 revenue at ₹996 crore and operating profit at ₹110 crore, up from ₹927 crore and ₹104 crore in Q2FY25. Operating margins have fluctuated between 6.8% and 10.6%, peaking in Q3FY24, while net profit and EPS have risen steadily from ₹53 crore and ₹7.70 in Q1FY24 to ₹78 crore and ₹11.35 in Q3FY25. This upward trend in profitability appears to be supported by operational scaling and margin management, though margin variability suggests sensitivity to input costs or market pricing.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance in the reviewed filings, but the consistent pattern of credit rating upgrades and focus on financial discipline suggests confidence in sustained performance. The subsidiary's improved credit profile indicates that Gravita is positioning itself for potentially lower-cost financing and greater financial flexibility, which could support future investments or working capital needs.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Minerals & Mining

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Lloyds Metals And Energy Limited	94,532	57.8	—	—	—
NMDC Limited	80,366	12.4	—	—	—
Gujarat Mineral Development Corporation Limited	20,753	31.1	—	—	—
Gravita India Limited	12,460	40.4	—	—	—
MOIL Limited	6,246	98.4	—	—	—
Ashapura Minechem Limited	6,103	21.4	—	—	—
The Orissa Minerals Development Company Limited	2,451	—	—	—	—
20 Microns Limited	614	9.5	17.8%	15.0%	0.35
Nile Limited	502	—	—	—	—
Goa Carbon Limited	367	—	—	—	—

🔗 Peer Stock Analyses

LLOYDSME NMDC GMDCLTD MOIL ASHAPURMIN

⚠️ Risk Factors

1) Margin volatility remains a concern, as operating margins peaked in Q3FY24 (10.6%) but have not been consistently sustained, indicating exposure to commodity pricing or operational inefficiencies. 2) The company's reliance on a single subsidiary (Rashtriya Metal Industries) for credit upgrades introduces concentration risk, as broader business performance metrics are not yet reflected in parent-level ratings. 3) The pending Q1FY26 financial results may introduce market volatility if they deviate from the current growth trend, especially given the upcoming trading window closure.

📋 Recent Filings

🧠 Analyst's Read

Gravita India appears to be in a phase of consolidating financial strength through operational consistency and improved credit perception, rather than pursuing aggressive growth. Investors should monitor the upcoming Q1FY26 results for signs of margin sustainability and management's ability to maintain momentum, while watching for any shifts in capital allocation strategy or subsidiary performance that could impact the parent company's strategic trajectory.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-16.

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