1. At a Glance
Gravita India Ltd, the ₹12,821 Cr lead recycler, has ridden a 49% profit CAGR over five years to report ₹312 Cr PAT in FY25. With ROE >21% and an ambitious ₹1,500 Cr capex plan by FY28, the stock trades at a frothy 41× P/E. Is this green play still ripe, or has value turned to waste?
2. Introduction with Hook
Imagine mining gold from your garbage—sounds like sci-fi, right? Yet Gravita India does exactly that, turning used batteries, cable scrap, and plastics into a ₹3,869 Cr revenue machine in FY25. But when a recycler sports a P/E north of 40, even Mount Trashmore starts looking like Everest.
3. Business Model (WTF Do They Even Do?)
- Lead Recycling (Flagship): Smelts and refines lead alloys, sheets, bricks, red lead, and lead oxide.
- Aluminium Recycling: Converts scrap into custom alloys.
- Plastic Recycling: Processes PET flakes and plastic granules.
- Rubber Recycling: Extracts tyre oil from end-of-life tyres.
- Turnkey Projects: Designs recycling plants globally (latest: Romania & Ghana).
4. Financials Overview – Profit, Margins, ROE, Growth
- Revenue: ₹3,869 Cr in FY25 (up 22% CAGR over 5 yrs)
- PAT: ₹312 Cr in FY25 (49% CAGR over 5 yrs)
- OPM: ~8%–11% quarterly range;
