Gravita India enters into MOU to establish a Recycling plant in Oman

Gravita India enters into MOU to establish a Recycling plant in Oman

Indian Market
by 5paisa Research Team Last Updated: Feb 25, 2023 - 02:27 pm 215 Views

Shares of the company have gained more than 40 per cent in the last 6 months.

New Recycling Plant

On February 24, 2023, Gravita India Limited informed in the exchange filing that the company is delighted to announce that step down subsidiary of company Gravita Netherlands BV (herein after “GNBV”) has executed a Memorandum of Understanding (MOU) to establish a recycling plant in Oman. This will be Gravita’s first recycling facility in the middle eastern market. 

GNBV will be holding 50% of the equity with management control in the said project and the remaining equity will be held by other partners based in Oman. In Phase-1, a Battery

recycling plant will be established with a capacity of 6,000 MTPA. Further, the total investment in this Joint Venture for Phase-1 will be approx. Rs 40 crore and GNBV will be investing approx. Rs 20 crore towards its share in Fixed capital and working capital.

About the company 

Established in 1992, Gravita India Ltd is one of the largest lead producers in India. The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminium recycling, Plastic recycling and Turnkey projects. The company also has expertise in the recycling of used batteries, cable scrap/other Lead scrap, Aluminium scrap, Plastic scrap, etc.

Share price movement of Gravita India Ltd 

Today, the stock opened at Rs 487, with a high and low of Rs 488.95 and Rs 461.25. The stock closed trading at Rs 474.20, down by 1.52%.

In the last 6 months, the shares of the company have given 40% returns and on a YTD basis, the stock has given more than 4% returns.

The stock has a 52-week high of Rs 539.45 and a 52-week low of Rs 230.95. The company has a ROCE of 31.2% with a market capitalisation of Rs 3,277 crore.

How do you rate this article?

Fill in your details below:

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number