Buy Gravita India, target price Rs 3,000: Axis Securities

Axis Securities has buy call on Gravita India with a target price of Rs 3,000. The current market price of Gravita India Ltd. is Rs 2,584.45.

Gravita India, incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 17,863.22 Crore) operating in Metals-Non Ferrous sector.

Gravita India key Products/Revenue Segments include Lead, Plastics, Turnkey Project, Aluminium, Export Incentives, Scrap, Other Operating Revenue, Sale of services, Others and Job Work for the year ending 31-Mar-2024.


Financials

For the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 914.73 Crore, up 2.98 % from last quarter Total Income of Rs 888.30 Crore and up 25.87 % from last year same quarter Total Income of Rs 726.74 Crore. Company has reported net profit after tax of Rs 68.00 Crore in latest quarter.

Promoter/FII Holdings

Promoters held 63.37% stake in the company as of 30-Jun-2024, while FIIs owned 13.39%, DIIs 2.61%.