Gravita India announces Rs 160 crore investment in new copper recycling plant

Arunika Jain — Thu, 07 May 2026 14:05:13 +0000

Gravita India Limited has announced a significant business expansion with the approval of a new copper recycling plant in Mandvi, Gujarat, with an estimated capital expenditure of ₹160 crore. This strategic move is aimed at diversifying the company’s business operations, optimising the use of existing land assets, and enhancing long-term shareholder value.

In addition to this major investment, the board of directors also approved the audited financial results for the quarter and financial year ending 31st March 2026. The company reported both standalone and consolidated results, although specific financial figures were not disclosed in the announcement.

Another key decision from the board meeting was the closure of its subsidiary, Recycling Infotech LLP. The subsidiary’s contribution to the company’s total turnover was nil, and its net worth was not applicable. The closure process is currently underway, with the actual date of closure to be communicated separately.

Furthermore, Gravita India has appointed M/s Deloitte Touche Tohmatsu India LLP as the new internal auditor for the financial year 2026-27, replacing M/s PricewaterhouseCoopers Services LLP, whose tenure has concluded. Deloitte is recognised as a leading global professional services firm, providing a range of services including assurance, tax, consulting, risk advisory, and technology services.

These strategic decisions reflect Gravita India’s commitment to strengthening its operational capabilities and enhancing its market presence. The company’s focus on strategic diversification and optimisation of resources is expected to drive future growth and shareholder value.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

PricewaterhouseCoopers Services LLP | Business Upturn

Gravita India announces Rs 160 crore investment in new copper recycling plant