Gravita India Limited delivered mind-blowing returns of over 2,000% in just three years; do you hold it?

Shares of the company gained more than 160% in the last one year.

Gravita India Limited has delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 44.75 on October 16, 2020, to Rs 947.05 on October 12, 2023, an increase of about 2,000% in a three-year holding period.

An investment of Rs 1 lakh in the shares of this company one year ago would have turned to Rs 21 lakh today.

Gravita India Limited has reported a strong first quarter for FY24, with net profit growth of 17.69% to Rs 52.55 crore, compared to Rs 44.56 crore in the same quarter last year. The operating profit also saw a significant increase of 23.63%. The total income for the quarter increased by 15.35% to Rs 703.39 crore, compared to the previous year’s same quarter.

Gravita India Limited and its subsidiaries are engaged in lead recycling, plastic recycling, aluminium processing, plastic recycling, rubber recycling, and dealing in turn-key recycling projects. The company carries out smelting of used lead battery scrap or lead concentrate to produce secondary lead metal, which is further transformed into pure lead, specific lead alloy, lead oxides (lead suboxide, red lead, and litharge), and lead products like lead sheets, lead powder, and lead shot.

Today, the stock opened at Rs 903.60, with a high and low of Rs 956.55 and Rs 883.50, respectively. The stock ended the trading session at Rs 946.70, up by 5.54%. The stock has a 52-week high of Rs 960 and a 52-week low of Rs 342.20. The company has a ROCE of 31.6% and an ROE of 42% with a market capitalisation of Rs 6,532 crore.

The stock has shown impressive growth and investors should keep a close eye on this stock.

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