Gravita India to Acquire Rashtriya Metal Industries for ₹565 Crore, Expands Copper Recycling

• Gravita India signs binding term sheet to acquire up to 100% equity of Rashtriya Metal Industries Ltd (RMIL) for ₹565 crore.
• RMIL, established in 1946, manufactures copper and copper alloy products, with exports to multiple countries.
• The acquisition is a strategic move for Gravita India to expand its presence and enter the copper recycling business.
• Gravita India reported a 25.3% YoY net profit increase to ₹97.7 crore and a 49.3% rise in EBITDA to ₹120.2 crore in Q3.
• The acquisition is expected to be completed by March 31, 2026, subject to due diligence.