Gravita India Q2 FY27 Results: Consolidated Net Profit ₹102 Crore on Total Income of ₹1,445 Crore
Earnings
metal recycling
Blacklitt Research3 min read
Fumikas Sagisavas, via Wikimedia Commons (CC0). Illustrative image.
In a filing on 27 Oct 2026, Gravita India Limited (NSE: GRAVITA) reported consolidated total income of ₹1,445.35 crore and net profit of ₹102.03 crore for the quarter ended 30 Sep 2026. On a standalone basis, total income was ₹795.26 crore and net profit ₹47.34 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,445.35 crore, up 36.1% YoY and down 5.1% QoQ
Net profit: ₹102.03 crore, up 6.3% YoY and down 4.1% QoQ
Finance costs: ₹13.88 crore, up 77.5% YoY and 20.9% QoQ
Interim dividend: ₹7.70 per share, record date 3 Nov 2026
Standalone
The company on its own, without its subsidiaries
Total income: ₹795.26 crore, down 8.8% YoY and 9.7% QoQ
Net profit: ₹47.34 crore, down 45.7% YoY; basic EPS ₹6.40
Other income: ₹8.35 crore, down 56.9% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
Total income
1,445.35
1,061.82
+36.1%
1,522.60
-5.1%
102.03
95.97
+6.3%
106.37
-4.1%
Profit before tax
124.21
111.28
+11.6%
131.28
-5.4%
Finance costs
13.88
7.82
+77.5%
11.48
+20.9%
Depreciation
13.60
n/a
n/a
n/a
n/a
Tax expense
22.18
15.31
+44.9%
24.91
-11.0%
Net profit margin
7.06%
9.04%
-1.98 pp
6.99%
+0.07 pp
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated total income rose 36.1% year on year to ₹1,445.35 crore. The consolidated figures are not comparable with the year-earlier quarter to the extent of the acquisition of Rashtriya Metal Industries Limited, where control took effect on 12 Mar 2026.
Net profit rose 6.3% year on year to ₹102.03 crore, slower than total income. Profit before tax rose 11.6% to ₹124.21 crore, and tax expense rose 44.9% to ₹22.18 crore. Tax was 17.9% of profit before tax. The net profit margin was 7.06%, against 9.04% a year earlier and 6.99% in the quarter ended 30 Jun 2026.
Finance costs were ₹13.88 crore, up 77.5% year on year and 20.9% above the ₹11.48 crore of the quarter ended 30 Jun 2026. Depreciation for the quarter was ₹13.60 crore. Against the June quarter, consolidated net profit fell 4.1% from ₹106.37 crore, less than the 5.1% fall in total income.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
795.26
871.58
-8.8%
881.06
-9.7%
Revenue from operations
786.91
852.20
-7.7%
860.13
-8.5%
Other income
8.35
19.38
-56.9%
20.93
-60.1%
47.34
87.22
-45.7%
n/a
n/a
Profit before tax
59.64
102.27
-41.7%
84.47
-29.4%
Depreciation
5.92
4.47
+32.4%
5.61
+5.5%
Tax expense
12.30
15.05
-18.3%
16.42
-25.1%
EPS, basic (₹)
6.40
11.81
-45.8%
9.23
-30.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income fell 8.8% year on year to ₹795.26 crore. Revenue from operations fell 7.7% to ₹786.91 crore, and other income fell 56.9% to ₹8.35 crore. Other income was 1.0% of standalone total income this quarter.
Standalone profit before tax fell 41.7% to ₹59.64 crore, and net profit fell 45.7% to ₹47.34 crore from ₹87.22 crore a year earlier. Net profit fell more than profit before tax. Tax expense fell 18.3% to ₹12.30 crore, which was 20.6% of profit before tax. Basic EPS was ₹6.40, against ₹11.81 a year earlier and ₹9.23 in the quarter ended 30 Jun 2026.
Against the quarter ended 30 Jun 2026, standalone total income fell 9.7% from ₹881.06 crore and profit before tax fell 29.4% from ₹84.47 crore. Depreciation was ₹5.92 crore, up 32.4% from ₹4.47 crore a year earlier.
Inference
The board declared an interim dividend of ₹7.70 per share for FY 2026-27 on a face value of ₹2 per share, amounting to ₹56.83 crore. The record date is 3 Nov 2026 and the payment is to be made by 25 Nov 2026.
During the quarter the company acquired a further 0.64% stake in Rashtriya Metal Industries Limited for ₹3.59 crore, taking its shareholding to 99.59%, after acquiring 98.95% with control from 12 Mar 2026. As at 30 Sep 2026, 9,57,787 equity shares were held by Gravita Employee Welfare Trust.
A customs demand of ₹70.10 crore, excluding interest, fine and penalty, is under appeal, and management believes the order will not have a material impact. Gravita Metal Inc. ceased operations in the quarter, with its activities moved to other plants, and management says this has no material impact on the results. The reasons for the fall in other income or the rise in finance costs are not stated.
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