Financials Gravita India Limited

Equities

GRAVITA

INE024L01027

Specialty Mining & Metals

Market Closed - NSE India S.E. Other stock markets 05:19:10 14/05/2024 pm IST			5-day change	1st Jan Change
947.6 ^INR	+4.49%		+4.53%	-13.56%

02/05	Transcript : Gravita India Limited, Q4 2024 Earnings Call, May 02, 2024
30/04	Gravita India Limited Declares Interim Dividend for the Financial Year 2024-25, Payable on or Before 29 May, 2024	CI

Valuation

Fiscal Period: March	2019	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,579	6,182	21,498	32,790	64,109	-	-
Enterprise Value (EV) ¹	5,579	6,182	25,084	32,790	67,573	68,224	67,777
P/E ratio	36.1 x	11.7 x	15.4 x	16.3 x	28.6 x	21.6 x	17 x
Yield	0.37%	-	0.94%	0.9%	0.54%	0.69%	0.8%
Capitalization / Revenue	0.45 x	-	0.97 x	1.17 x	2.14 x	1.56 x	1.26 x
EV / Revenue	0.45 x	-	1.13 x	1.17 x	2.14 x	1.66 x	1.33 x
EV / EBITDA	8.7 x	-	11.9 x	16.6 x	23.8 x	16.4 x	13 x
EV / FCF	26.2 x	-	-39.9 x	35.7 x	106 x	78.9 x	66.6 x
FCF Yield	3.81%	-	-2.5%	2.8%	0.95%	1.27%	1.5%
Price to Book	2.8 x	-	5.67 x	5.57 x	8.3 x	5.9 x	4.54 x
Nbr of stocks (in thousands)	68,747	68,310	67,657	67,657	67,657	-	-
Reference price ²	81.15	90.50	317.8	484.6	947.6	947.6	947.6
Announcement Date	28/05/19	03/09/21	19/05/22	01/05/23	30/04/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart	2019	2021	2022	2023	2024	2025	2026
Net sales ¹	12,417	-	22,159	28,006	31,608	41,139	50,936
EBITDA ¹	641.6	-	2,109	1,976	2,836	4,160	5,221
EBIT ¹	525.9	-	1,904	1,736	2,456	3,716	4,675
Operating Margin	4.24%	-	8.59%	6.2%	7.77%	9.03%	9.18%
Earnings before Tax (EBT) ¹	295.9	-	1,646	2,276	2,742	3,398	4,335
Net income ¹	154.9	524.8	1,394	2,011	2,392	2,977	3,753
Net margin	1.25%	-	6.29%	7.18%	7.57%	7.24%	7.37%
EPS ²	2.250	7.720	20.60	29.72	34.88	43.83	55.80
Free Cash Flow ¹	212.8	-	-628	919.2	632	864.7	1,018
FCF margin	1.71%	-	-2.83%	3.28%	1.98%	2.1%	2%
FCF Conversion (EBITDA)	33.17%	-	-	46.52%	18.83%	20.79%	19.49%
FCF Conversion (Net income)	137.36%	-	-	45.71%	27.35%	29.04%	27.11%
Dividend per Share ²	0.3000	-	3.000	4.350	5.133	6.500	7.533
Announcement Date	28/05/19	03/09/21	19/05/22	01/05/23	30/04/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2024 Q4
Net sales ¹	8,245
EBITDA ¹	803
EBIT ¹	713
Operating Margin	8.65%
Earnings before Tax (EBT) ¹	783
Net income ¹	672
Net margin	8.15%
EPS ²	9.700
Dividend per Share	-
Announcement Date	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	3,586	-	2,719	4,116	3,668
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	1.7 x	-	0.8103 x	0.9893 x	0.7025 x
Free Cash Flow ¹	213	-	-628	919	632	865	1,018
ROE (net income / shareholders' equity)	7.97%	-	42.5%	41.2%	33.5%	30.9%	29.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	29.00	-	56.00	87.00	114.0	161.0	209.0
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	677	-	728	1,082	1,932	1,869	2,535
Capex / Sales	5.46%	-	3.29%	3.86%	6.04%	4.54%	4.98%
Announcement Date	28/05/19	03/09/21	19/05/22	01/05/23	30/04/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Gravita India Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

906.8 INR

Average target price

1,120 INR

Spread / Average Target

+23.53%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Nonferrous Metal Processing

	1st Jan change	Capi.
GRAVITA INDIA LIMITED	-13.56%	73Cr
VSMPO-AVISMA CORPORATION	-.--%	718.71Cr
ZHEJIANG HUAYOU COBALT CO., LTD	-11.69%	687.11Cr
CHINA RARE EARTH RESOURCES AND TECHNOLOGY CO., LTD.	+5.49%	428.31Cr
PANGANG GROUP VANADIUM & TITANIUM RESOURCES CO., LTD.	-4.57%	402.27Cr
CHINA NONFERROUS MINING CORPORATION LIMITED	+54.78%	399.57Cr
WESTERN SUPERCONDUCTING TECHNOLOGIES CO., LTD.	-17.53%	396.5Cr
YUNNAN COPPER CO.,LTD	+30.58%	393.94Cr
AURUBIS AG	+2.28%	347.06Cr
ZHE JIANG HAI LIANG CO., LTD	-19.01%	249.5Cr

Nonferrous Metal Processing