Gravita expands capacity of its Tanzania Plant

Gravita India Limited ("Gravita" or the "Company") a leading "Recycling Company" having its manufacturing presence around the globe, has announced that Gravita Tanzania Limited, a step down wholly owned subsidiary of the company has increased capacity of its existing recycling unit situated at Tanzania. The existing capacity of said unit for battery recycling has been increased by 5,000 MTPA bringing the total capacity of battery recycling of this unit to 12,000 MTPA.

With this expansion the total capacity of Gravita Group has reached to 2,90,859 MTPA which is in line with company's target to reach 4,25,000 MTPA by FY 2026.

The production from said plant will cater to the needs of battery industry globally and support the establishment of a circular economy in the global recycling market.

The investment in the said capacity expansion is approx. Rs 3.33 Cr. which has been funded through internal accruals of the company.

Gravita is a leading recycling company with 12 eco-conscious state-of-the-art manufacturing facilities across the globe. The Group has global footprint in 70+ countries having recycling DNA of 30+ years with 5 business verticals. The company is amongst the top 1,000 listed companies on NSE and BSE Ltd.

Shares of Gravita India Limited was last trading in BSE at Rs. 878.80 as compared to the previous close of Rs. 894.80. The total number of shares traded during the day was 6479 in over 718 trades.

The stock hit an intraday high of Rs. 902.15 and intraday low of 875.05. The net turnover during the day was Rs. 5718796.00.

Source : Equity Bulls

Keywords

GravitaIndia INE024L01027 GravitaTanzania CapacityIncrease RecyclingUnit