INVESTOR PRESENTATION

July 2023

Towards Clean, Green &

Sustainable Future
GRAVITA, Started In 1992 by First
Generation Entrepreneur
RAJAT AGRAWAL at JAIPUR
2
We are on an
AMAZING JOURNEY Added Rubber

2022
Recycling,

2021
New recycling facility at
Became MCX
Mundra port
empaneled brand

2019
Started Aluminium &
Plastic recycling in Africa

2016
Added Aluminium
Recycling

2015
Diversified in

2013
Plastic recycling Value added
products in Jaipur

2010
Listed on

2007
1st
recycling NSE & BSE
unit in Ghana
2001

1st Overseas recycling

1994

Lead recycling unit at Sri-Lanka

plant in Jaipur
3
 Business VERTICALS

Lead Recycling
1

2 Aluminium Recycling

3 Plastic Recycling

4 Rubber Recycling

5 Turnkey Solutions

Phagi Plant’s Full Ariel View 4

 FINANCIAL Highlights - FY23

22 % 9-10% A
Revenue CAGR - 5 Yrs Consistent EBITDA margins External credit rating from ICRA

35 % Locking the margins 12 Years

PAT CAGR - 5 Yrs Back-to-back hedging mechanism in place History of sustainable dividend payouts
40%

40 Cr +
Reduction in Debt
PAT (Cr) and PAT Margin (%) Capital Employed (Cr)
Revenue
2801 250 8.00%
7.18%
7.00%
200 201 969
2216 6.00%
37% 6.32% 807
28% 150 5.00%
36% 139 51% 39%
29% 1410 33% 4.00% 31%
1242 1348 514 544
25% 3.20%
100 67% 75% 460
29% 33% 2.46% 3.00% 23% 29%
25% 21%
63% 69% 61%
64% 1.25% 52 2.00%
75% 71% 67% 50 33 77% 71%
61% 49% 79%
15 1.00%
48% 25%
47% 52% 39%
0 53% 0.00%
FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23
India Overseas PAT Margin India Overseas
India Overseas
5
 QUARTERLY HIGHLIGHTS - Q1 FY24
REVENUE (Cr)
Rising Higher - VISION 2027 749 703
580

18%+ 21%+ 24%+ 22%+

Volume Revenue EBITDA PAT Q1FY23 Q4FY23 Q1FY24
Y-o-Y Y-o-Y Y-o-Y Y-o-Y
100.00EBITDA* (Cr) 85.32 12.00%
80.23 11.41%
80.0011.16% 11.39% 11.00%
64.69
49% 39% 60.00 10.00%
Revenue from Value added products Revenue from Overseas Business 40.00 9.00%
20.00 8.00%
30% - 7.00%
Domestic scrap collection for Indian Plants Q1FY23 Q4FY23 Q1FY24
EBITDA EBITDA %

80.00PAT (Cr) 8.52% 9.00%

EBITDA per MT VOLUME (MT) 63.81
32,601 60.00 52.08 8.50%
21,726 20,958 29,287
20,167
24,738 42.52 8.00%
18,113 16,928 7.40%
12,512 12,823 40.00
7.50%
8,875 10,217 7.33%
20.00 7.00%
3,706 5,605 3,284 5,396 2,750
3,318
- 6.50%
Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24
Lead Aluminium Plastic Lead Aluminium Plastic PAT PAT% 6
*Revenue / EBITDA after adjustment of income/loss from Currency & Metal hedging
Project Updates
• Increased capacity of Lead recycling to 64,640 MTPA
Chittoor • Capex - Rs.21 Cr. from internal accruals

• Started Rubber Recycling

Tanzania • Capacity of 3,000 MTPA
• Capex – Rs.3.86 Cr. from internal accruals

• Increased capacity of Lead recycling to 60,000 MTPA

Mundra • Started Value Added Production of Red Lead with a Capacity of 4,800 MTPA
• Started Plastic Recycling with a Capacity of 7,500 MTPA

• Gravita signed MOU to establish Battery Recycling Plant through JV

Oman • Capacity of 6,000 MTPA in Phase 1
• Gravita’s first recycling facility in Middle East

• Started Aluminium Recycling

Togo • Capacity of 4,000 MTPA
• Capex– Rs.11 Cr. from internal accruals

• Started Aluminium Recycling

Senegal • Capacity of 4,000 MTPA
• Capex – Rs.3.5 Cr. from internal accruals

7
 VISION 2027
New recycling
verticals 25%+
Rubber, Lithium, ROCE
Steel & Paper

25% + 50%+
Revenue CAGR Value added products

35% + 25%+
Profitability Growth Non-Lead business

● ● ●
Our Priorities
Shareholder value Return accretive Judicious use of
creation growth capital 8
 Capacity Expansion & CAPEX over the Years
Capacity (MT) CAPEX (Rs Cr.)
4,34,319 159
3,95,319 148

3,24,319
110 110
105
100
2,33,919
2,04,919
73

45

FY22 FY23 FY24E FY25E FY26E FY22 FY23 FY24E FY25E FY26E
Lead Aluminium Plastic Rubber Total Existing Verticals New Verticals

4,25,000 MTPA Capacity planned by FY 2026 Rs. 600+ Cr Capex planned by FY 2026
9
 RETURN ON CAPITAL
EMPLOYED

Target ROCE 25% +

29% 29%
Consolidated

Drivers of ROCE
● Improving industry
18% dynamics
16%
● Resultant reduction in
12% working capital
● Improving demand-
supply
● Value added products

FY19 FY20 FY21 FY22 FY23

*on Average Capital Employed

● 3 Years ● 25% + ● 8+
Capital Allocation policy for new projects Maximum Payback period ROCE Asset turns 10
Reducing NET WORKING CAPITAL CYCLE
• More domestic scrap & Lower imports reduces transit inventory
• Retail scrap collection through OEM’s - Zero working capital

83 Days* 65 Days
95 Days March’26
March’22 March’23

15 14 11
34 27
24

46 41 30

Receivables Receivables Receivables

Paid Plant Inventory * Paid Plant Inventory * Paid Plant Inventory *
Transit Inventory Transit Inventory
Transit Inventory

• Paid Inventory includes advance to vendors and net off Trade payables
• Based on Avg Core working capital 11
Leveraging existing GRAVITA’S STRENGTHS
Our Entry into new verticals is based on proven, existing Gravita’s Strengths.

Deep Routed Diversified

procurement Customer
network network

Operation
Excellence

12
 Import License OEM
in India Approvals

Multinational
Specialist Procurement
Knowledge Network

Time & Cost Capability to

of Entry Industry Specific Develop Customized
Products
ENTRY
BARRIER
13
GLOBAL & PAN INDIA Operations
● Global spread helps reduce logistics costs and procure material cheaper.
● Start small > grow volumes > establish new plants close to procurement sources.
● Increased flexibility in recycling closest to raw material access and consuming markets.

Head Quarters
India (Jaipur, RJ)

America
Dominican Republic

Africa Asia
Ghana (Accra) India
Senegal (Dakar) - Kathua (J&K)
Mozambique (Maputo) - Jaipur (Rajasthan)
Tanzania (Dar-es-Salam) - Jaipur SEZ (Rajasthan)
Togo (Lome) - Chittoor (Andhra Pradesh)
- Mundra (Gujarat)
Sri Lanka (Mirigama)
- Oman (Muscat) 14
Existing Facilities Upcoming Facilities
Deep Routed PROCUREMENT NETWORK
31 1500+ 2,05,000 MT+
Own yards Touch points Scrap collection

Europe
Touch Points- 15+
Scrap collection(MT) - 5,500+

Americas
Touch Points- 75+
Scrap collection (MT) -19,000+ Africa Asia
Own Yards - 26 Own Yards - 5
Touch Points- 450+ Touch Points- 1000+
Scrap collection (MT) -62,000+ Scrap collection(MT) - 118,500+

Deep presence in Asia , Africa , Middle East, Europe & America ensures raw material at competitive prices
Deep presence in Asia , Africa , Middle East, Europe & America ensures raw material at 15
competitive prices
Diversified CUSTOMER NETWORK - GLOBAL
38 + 375 + 1,55,000 MT +
Countries Customers Recycled products delivered

Europe
Countries - 10
Customers -18
Delivered- 17,500 MT+

Americas
Countries - 9
Customers -27
Middle East
Delivered- 6,000 MT + Countries - 5
Customers -26 Asia
Delivered- 24,000 MT+ Countries - 14
Customers -304
Delivered- 1,07,500 MT+

16
Diversified CUSTOMER NETWORK- INDIA

Gravita with pan India presence

enjoys the logistic benefits by
serving :

● 230+ domestic customers

in 22 states in India

● 90+ overseas customers in

36 countries.

17
 OPERATIONAL EXCELLENCE

4 11 1500+
Recycling Recycling Touch Points
Verticals Plants Globally

49% 2.78Lac+ 51% 27%

Customized & MT Production Capacity Overseas
Value added Capacity* Utilzation Capacity*
products

2.05 Lac+ ILA 60000 MT+

MT Scrap India’s only Healthy
Collection Accredited Orderbook
Plant
18
* As on 01st May 2023
OUR PARTNERS
(Strong Partnering Capability)

19
TURNKEY SOLUTIONS for Recycling

● In house Recycling Technology

● Technical Consultancy & Services for Recycling & Smelting
● PLC based Control & Monitor System for advanced set-ups
● Annual Maintenance Contracts
● Executed more than 50 turnkey projects globally including Qatar, UAE, Saudi Arabia, Poland, Chile.
● Helps in reducing capital expenditure
● Regular R&D for cost effective & environment friendly processing.

Planning and
Design Fabrication Testing Installation Operation Handover 20
Specification
ROBUST MANAGEMENT

Rajat Agrawal Yogesh Malhotra Vijay Pareek Naveen Sharma Rajeev Surana Sunil Kansal
Managing Director Whole Time Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer

27 Yrs + 625 + 175+

Avg Management Experience in diversified Employees Professionals (CA’s, MBA’s, Engineers)
Industries

100% 35 Yrs 5 Yrs

Employees covered under incentive schemes Average Employee Age Average Employee Association

2% Equity 15 Yrs 4 rounds

Held in Employee Welfare Trust
Average Management ESOP’s
Association 21
 CUSTOMIZED AND VALUE ADDED PRODUCTS
Our Capability to produce customized
and value added products for diversified
customer segments gives us better
contributions and larger pie of
Customized Lead Alloys Lead Sheets Lead Bricks customer's product mix.

Value Added Products % in revenue

55% 50%
50%
44% 43%
45% 42% 42%
Red Lead Lead Oxide
40%
34%
35%

30%

25%

20%
FY19 FY20 FY21 FY22 FY23 FY26E
Customized Aluminium Alloys Plastic Granules Pet Flakes - Food grade 22
Risk Mitigation by BACK TO BACK HEDGING mechanism
Back-to-Back Hedging Core Inventory +Back-to-Back
Hedging
• To mitigate the risk of commodity prices fluctuation from June.
2016 $ 2379 $ 2283
$ 2105
• Metal equivalent of the scrap bought, is sold on the same
$ 1867
day $ 2122
10.21%
$1947 9.70%
• Pricing against Customer contracts – Natural 10.21%
8.32%
Hedging 8.61% 9.70%
7.23%
• Forward Contracts on LME Exchange for balance 6.50%
6.11%
quantity - till final sale to customer
7.23% 8.32%
• Core inventory was not part of back to back hedging

2.50%
• Gravita started hedging of core inventory also in June, 2019
by taking a forward contact on LME Exchange.
5.00%

• June, 2019 onwards Gravita is enjoys stable margins and is not

affected by the commodity price fluctuations -1.50%

FY18 FY19 FY20 FY21 FY22 FY23

EBITDA % LME
Inventory Gain/Loss Business Margin 23
Improving MARKET DYNAMICS IN RECYCLING - Paradigm Shift

Vehicle
BWMR EPR Scrappage GST
Policy

PARADIGM SHIFT

More
Shift from Tie-ups Reduced Better
Improved availability
informal to with working capacity
logistics of domestic
formal OEM's capital cycle utilizations
scrap

24
 Shift from INFORMAL TO FORMAL
With redefining of Battery Waste Management Rules (BWMR) , Extended producers responsibility
(EPR) and stricter implementation of GST, the scrap availability for formal recycling sector has
increased and is further expected to grow.

Informal Lead recycling trend in India

80%
Indian Lead Recycling Market (Cr)

75%
65% Gravita having
Pan India
presence and
association
35% with OEM’s will
benefit the most
20% 25% from this shift
9000 12000 13875
FY16 FY23 FY26E
Formal Segment Market Size Informal Segment 25
*Source - Management estimate
 ENVIRONMENT, SOCIAL & CORPORATE GOVERNANCE

Focused on Capturing Value from Waste

Through Modern Recycling and Recovery
Recycling Waste:
• Uses scrap of lead, aluminum ,plastic and rubber in manufacturing of finished goods and has a
process in place to collect the scrap and recycle the same
4
Recycling verticals • Systems in place to mitigate the exposure risk of hazardous materials

Conserving Nature:
11 • Consciously track usage of these resources – water, energy and raw materials, throughout all
Recycling Plants operations

Energy Conservation:

2,05,000 MT+ • Utilizing alternate sources of energy by installing solar panels for its plants situated at Mundra,
Scrap collection Chittoor, Phagi and SEZ Jaipur thereby minimizing the consumption of electricity from
commercial electricity boards

Alternate Energy Source:

1,55,000 MT + • Uses pyrolysis oil generated during waste rubber recycling process●as an alternateuse
source
of of
Our Priorities
Recycled products Judicious
delivered energy for recycling of Lead & Aluminium
capital 26
• Using carbon briquettes as an alternate source of energy during recycling process
 ENVIRONMENT, SOCIAL & CORPORATE GOVERNANCE

Involved in Making Holistic &

Meaningful Contributions to Society

4 • Engagement Platforms of Customers & Partners: Customers: Regular business meetings,

Round of ESOPs
Customer satisfaction survey

2% • Product/Service Safety and Quality: Identify areas for improvement at every stage of
Equity holding in Employee
Welfare Trust manufacturing to provide the best value possible in the products Gravita produce

6% • Diversity and Inclusion: The Company has 194 women employees as on 31st March, 2023;
Women employees Women in the total workforce is 6%

OHSAS 18001 • Employee Well Being Programs: Well-defined policies/principles in place to foster utmost
Certified employee safety and wellbeing which not only takes care of the wellness of employees but
also the environment
Rs. 86 Lakh
CSR spending • CSR Initiatives: Main focus of the CSR activities of the Company is on health, education and
● Judicious use of
Our Priorities environment
capital 27
 ENVIRONMENT, SOCIAL & CORPORATE GOVERNANCE

Fosters a Culture of High Ethical Standards,

Accountability and Transparency

• Business Ethics: Always worked towards building trust with shareholders, employees,
50% customers, suppliers and other stakeholders based on the principles of good corporate
Independent directors governance, viz., integrity, equity, transparency, fairness, disclosure, accountability and
commitment to values
A
Ratings by ICRA
• Details of Related Party Transactions: Detail of transaction and balance outstanding with
ISO 9001 : 2015 related parties is provided in annual report
Certified

ISO 14001: • Board of Directors: 50% of directors are independent

2015
Certified
• Financial Expertise on Audit Committee: All the members of the Audit committee are
ISO 45001 : financially literate and possess thorough knowledge of accounting or related financial
2018 management expertise
Certified

ILA • Executive Pay Performance Alignment Policies: Remuneration● to directors,

Judiciouskey managerial
Our Priorities
use of
Registered plants personnel and senior management involves a balance between fixed and incentive pay
capital 28
 Thank You

SAVE THE PLANET

Company Contact: Investor Relations Contact:
Mr. Nitin Gupta (Company Secretary) Sana Kapoor Sheetal Khanduja
Gravita India Limited Go India Advisors Go India Advisors
companysecretary@gravitaindia.com sana@GoIndiaAdvisors.com sheetal@GoIndiaAdvisors.com
M:+91 98870 82051 M:+91 81465 50469 M:+91 97693 64166