GRAVITA: Q2 revenue rose 38% YoY as expansion and diversification advanced

What happened

Gravita reported first-half FY27 revenue of ₹2,902 crore, EBITDA of ₹288 crore and profit after tax of ₹208 crore. Second-quarter revenue rose 38% from a year earlier as expansion and diversification advanced. The strategy targets 20–25% volume growth a year and over 8,00,000 MTPA capacity by FY29.

Confirmed

Global impact / market context

Faster revenue growth means Gravita is selling more recycled metal, which can spread fixed costs across more output and lift profit per sale. The capacity target signals large capital spending ahead, so cash available and borrowing needs will matter as new plants are built.

Analyst inference

The figures cover the first half of FY27, so they show growth before the full capacity plan is built. Investor positioning will likely depend on whether volume growth stays near the 20–25% target while expansion spending rises and capacity reaches 8,00,000+ MTPA by FY29.

Analyst inference

What to watch

1. Watch whether second-quarter revenue growth of 38% holds in later quarters, since the first-half revenue figure of ₹2,902 crore already includes that strong quarter. Confirmed
2. Track progress toward the stated goal of more than 8,00,000 MTPA capacity by FY29, since MTPA means million tonnes per year and shows planned output scale. Proposed
3. Monitor capital spending and borrowed money as new capacity is built, because higher interest and depreciation costs could reduce profit even if revenue keeps growing. Analyst inference

Evidence

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