Gravita India Limited, a leading recycling company with manufacturing presence around the world, hereby informs that Recyclers Ghana Limited, a subsidiary of the company located in Ghana, West Africa, has increased the production capacity of its lead recycling plant from 12,000 to 16,200 MTPA. MTPA.
The Group has made an investment of Rs. 10 Crores for the above expansion and up to date approx. Rs. 31 Crores has been invested for the creation of this recycling plant with a capacity of 16,200 MTPA which has been invested through internal company regularizations.
Recyclers Ghana Limited has also started to manufacture custom products in which the company enjoys the best margins. The group expects a contribution to turnover of approx. Rs. 200 crore along with a gross margin of around 15% of this depressed subsidiary in fiscal year 2021-22.
In addition, due to the increase in domestic purchases, the company has accelerated the process of establishing a new unit in Mundra, Gujarat, which is expected to be completed by August 2021. The establishment of the factory de Mundra will help the company save inbound and outbound logistics costs as a Mundra facility. is much closer to the port, which will reduce the company’s working capital requirement. In addition, the above expansions will increase the business share of the overseas market, which will result in higher margins.
The Gravita Group is one of the largest recycling companies in the world and the installation of this plant will help the company increase its footprint and expand its horizons around the world.
Shares of GRAVITA INDIA LTD. was last traded on the BSE at Rs 139.25 from the previous close of Rs. 125. The total number of shares traded during the day was 384,439 in more than 5,737 trades.
The share hit an intraday high of Rs. 142.6 and an intraday low of 124.25. The net turnover during the day was Rs. 50,469,925.