Gravita India Limited has released the transcript of its earnings conference call for the quarter and nine months ended December 31, 2025. The call, conducted on January 23, 2026, featured discussions on the company's performance, expansion plans, and operational updates. During the call, management highlighted a consistent performance in Q3 and the first nine months of FY2026, with year-on-year growth of 9%, 15%, and 32% in revenue, EBITDA, and PAT, respectively, for the nine-month period. The company has earmarked a CAPEX of ₹1,225 crore through FY2028, with ₹850 crore for existing business expansion and the remainder for new recycling verticals like lithium-ion batteries, paper, and steel. Capacity expansion at Mundra and Jaipur for lead is targeted for completion by Q4 FY2026, while the Mundra rubber project is slated for commissioning in Q1 FY2027. Gravita Netherlands BV approved an additional investment in Gravita Europe S.R.L, increasing its stake to 95%. The company noted a favorable regulatory environment for organized recyclers. In terms of volumes, the plastic segment saw a 55% quarter-on-quarter increase, while aluminum volumes declined due to higher metal prices and scrap withholding by aggregators. Revenue remained flat at ₹1,017 crore in Q3 FY2026, with Adjusted EBITDA up 13% year-on-year to ₹116 crore and PAT increasing by 32% year-on-year to ₹97.67 crore. Management addressed delays in capacity expansion due to licensing issues but expressed confidence in completion within the quarter. They also discussed margin stability, the domestic vs. overseas mix, and the progress of EPR and BWMR frameworks. The company is targeting strong growth metrics for Vision 2029, including a volume CAGR of over 25% and profitability growth above 35%. Discussions also covered the trading of aluminum alloy on MCX, revenue and profit contribution from overseas operations, capacity utilization, working capital management, and expansion plans in plastics and aluminum segments.
