Gravita India Limited, one of the world’s largest lead recyclers and a top global recycling company, has signed a binding agreement to buy Rashtriya Metal Industries Limited (RMIL) for about ₹800 crore.
The acquisition marks Gravita’s strategic entry into the copper and copper alloy segment, including recycling copper scrap into finished alloy products. The move supports the company’s broader vision of building an integrated recycling and value-added manufacturing platform.
Strengthening Diversified Recycling Portfolio
Gravita, which has a market capitalisation of nearly ₹12,000 crore, already operates in lead, aluminium, plastic, and rubber recycling. With this acquisition, the company aims to expand into copper products and strengthen its overall recycling ecosystem.
About Rashtriya Metal Industries Limited
Established in 1946, RMIL is among India’s oldest manufacturers of copper and copper alloy products. The company produces:
- Brass strips
- Brass coils
- Brass cups
These products serve industries such as:
- Electrical
- Automotive
- Lock manufacturing
- Engineering
RMIL has a factory in Sarigam, Gujarat, where it makes things. The factory can make about 24,000 tonnes of goods per year.
Revenue and Market Presence
- 60% revenue from domestic markets
- 40% exports to UAE, US, Egypt, and Saudi Arabia
- Supplies coin blanks to the Government of India
RMIL’s revenue has nearly doubled in the last five years, going from about ₹500 crore in FY21 to an estimated ₹1,100 crore in FY26.
Gravita’s Global Operations
Gravita has 13 advanced manufacturing plants in more than 70 countries, and they can process about 3,46,000 tonnes of material per year. According to the company, the last twelve months ending in December 2025 were:
- Revenue exceeding ₹4,100 crore
- EBITDA of over ₹400 crore
The purchase fits with the growing global need for copper, which is being driven by electric cars, renewable energy, and efforts to cut carbon emissions. The deal should make Gravita more competitive, improve the quality of its margins, and help it create long-term value.
The transaction remains subject to customary approvals and closing conditions.
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