Ashish Kacholia’s portfolio multibagger stock: This small-cap company starts battery recycling in Togo; with global capacity of 2,84,059 MTPA!
The stock gave multibagger returns of 140 per cent in just 1 year whereas BSE Small-cap Index is just up by 27.56 per cent.
Gravita India Limited, a leading "Recycling Company" having its a manufacturing presence around the globe announced that its step-down subsidiary situated in Togo, West Africa has started commercial production of lead from its existing recycling plant which has an annual capacity of around 6,000 MTPA. Further, the company has been sourcing scrap from Togo for the last 3 years and has set up a strong scrap collection network before establishing the plant.
The company is already having similar battery recycling facilities in Tanzania, Senegal, Mozambique, Sri Lanka, Ghana and India. This is in alignment with the company’s vision of replicating its recycling business in different geographical locations. Further, the company already has an aluminium recycling plant having an annual capacity of 4,000 MTPA in Togo, West Africa and this new facility will enjoy the benefits of economy of scale and will be cost-effective due to savings in logistic costs.
The Group has invested approx. Rs 3.61 crore for commissioning of the new Battery recycling facility which is funded from internal accruals of the company. The company will be procuring domestic scrap for recycling from this plant and it will cater for the needs of the Battery Industry globally. This recycling facility will help the company in expanding its recycling business.
On Tuesday, shares of Gravita India gained 0.09 per cent to Rs 749.65 per share with an intraday high of Rs 760.30 and an intraday low of Rs 742.40. The company reported excellent numbers in its Quarterly Results and annual results.
The stock has an ROE of 42 per cent and an ROCE of 32.1 per cent with a 5-year stock price CAGR of 40 per cent. An ace investor, Ashish Kacholia owns 2.15 per cent skate in the company as of June 2023.
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The stock gave multibagger returns of 140 per cent in just 1 year whereas BSE Small-Cap Index is just up by 27.56 per cent. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.