M&A

M&A

Gravita India to acquire Rashtriya Metal for Rs.565-Cr

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Mumbai-based Gravita India Ltd is to acquire a 100% stake in Mumbai-based Rashtriya Metal Industries Ltd (RMIL) for INR 565 crore, at an enterprise value of approximately INR 800 crore.Founded in 1946, Rashtriya Metal manufactures copper and copper alloy products, including strips and coils, used in electrical, automotive, engineering, and lock manufacturing applications. The company operates a manufacturing facility in Gujarat with an installed capacity of around 24,000 tonnes per annum, with roughly 40% of its revenues derived from exports to markets such as the US, the UAE, Saudi Arabia, and Egypt. This acquisition marks Gravita's entry into the copper recycling and processing business.Rashtriya Metal reported a turnover of INR 910 crore in FY25, an increase from INR 688 crore in FY24. Its net worth was INR 300 crore as of March 31, 2025, and total assets were valued at INR 558 crore. Gravita currently operates 13 manufacturing facilities globally and has a presence in over 70 countries, with trailing 12-month revenues exceeding INR 4,100 crore.