The Board of Directors of Navam Lanka, Sri Lanka, a step-down subsidiary of the company in which Gravita Group through Gravita Netherlands B.V. is holding 52% of its share capital (herein after 'NLL' ) has completed the repurchase/buyback of 2,29,087 shares from its existing shareholders representing 25.56% of its total stated capital. The price per share for buyback was LKR 3,530 per share and total buyback value is approx. Rs 23.00 crore which will be paid to shareholders from the reserves and surplus of Navam Lanka. Further Gravita Netherlands B.V., a step-down subsidiary of the company and one of the shareholder of Navam Lanka has not participated in the said buyback and 2,29,087 shares have been tendered by other shareholders in the buyback. Now, consequent to repurchase/buyback of 2,29,087 shares of Navam Lanka, the shareholding of Gravita Netherlands BV has increased from 52% to 69.85%.Powered by Capital Market - Live

Net profit of Gravita India rose 24.44% to Rs 72.00 crore in the quarter ended September 2024 as against Rs 57.86 crore during the previous quarter ended September 2023. Sales rose 10.91% to Rs 927.42 crore in the quarter ended September 2024 as against Rs 836.18 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales927.42836.18 11 OPM %6.858.68 - PBDT91.9075.57 22 PBT84.7267.00 26 NP72.0057.86 24 Powered by Capital Market - Live

Gravita India will hold a meeting of the Board of Directors of the Company on 21 October 2024.Powered by Capital Market - Live

The Board of Gravita India at its meeting held on 04 October 2024 has approved the appointment of Sunil Kansal (DIN: 09208705), as Whole Time Director of the Company w.e.f. 04 October 2024. The Board also approved change in designation of Rajat Agrawal (DIN: 00855284) from Managing Director to Chairman cum Managing Director w.e.f. 05 October 2024. The Board has accepted the resignation of Dr. Mahavir Prasad Agarwal (DIN: 00188179), as Chairman and Whole Time Director of the Company w.e.f. 05 October 2024.Powered by Capital Market - Live

The Board of Gravita India at its meeting held on 04 October 2024 has approved fund raising up to Rs 1,000 crore by issuance of securities. Powered by Capital Market - Live

Gravita India announced that step down subsidiary of company Gravita Netherlands BV (herein after GNBV) has executed a Memorandum of Understanding (MOU) to acquire a Waste Tyre Recycling plant in Romania from an existing entity based out in Romania having a capacity of approx. 17,000 MTPA . This will be Gravita's 1st recycling facility in Europe. This acquisition will be done by forming a separate SPV in Romania in which GNBV will be holding 80% of equity with management control in the said SPV and remaining equity will be held by other partners based in Romania. Further, total investment in this transaction will be approx. Rs. 40 crore and GNBV will be investing approx. Rs. 32 crore towards its contribution subject to in depth Financial. Environmental and Legal Due Diligence. GNBV also aims to expand its recycling business operations across the European market, leveraging new market opportunities and establishing strategic partnerships to drive growth. This acquisition will enhance our presence, increase our customer base, and strengthen our competitive edge in the European market. The company is already having similar rubber recycling facilities Senegal, Togo, Ghana and Tanzania. This is in alignment with the company's vision of Diversification and expansion plan of replicating our recycling business in different geographies. Powered by Capital Market - Live

Gravita India announced that the Annual General Meeting (AGM) of the company will be held on 18 September 2024.Powered by Capital Market - Live

Mazagon Dock Shipbuilders Ltd, Garden Reach Shipbuilders & Engineers Ltd, Firstsource Solutions Ltd and Triveni Engineering and Industries Ltd are among the other losers in the BSE's 'A' group today, 20 August 2024.Gravita India Ltd crashed 10.17% to Rs 2140 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1.05 lakh shares were traded on the counter so far as against the average daily volumes of 60479 shares in the past one month.Mazagon Dock Shipbuilders Ltd tumbled 8.55% to Rs 4318.65. The stock was the second biggest loser in 'A' group.On the BSE, 3.25 lakh shares were traded on the counter so far as against the average daily volumes of 1.68 lakh shares in the past one month.Garden Reach Shipbuilders & Engineers Ltd lost 7.48% to Rs 1777.45. The stock was the third biggest loser in 'A' group.On the BSE, 1.61 lakh shares were traded on the counter so far as against the average daily volumes of 1.2 lakh shares in the past one month.Firstsource Solutions Ltd plummeted 4.43% to Rs 322.5. The stock was the fourth biggest loser in 'A' group.On the BSE, 7.66 lakh shares were traded on the counter so far as against the average daily volumes of 5.76 lakh shares in the past one month.Triveni Engineering and Industries Ltd shed 4.21% to Rs 445.95. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.5 lakh shares were traded on the counter so far as against the average daily volumes of 73399 shares in the past one month.Powered by Capital Market - Live