Mumbai: Recycling firm Gravita India Ltd has signed a binding time period sheet to accumulate as much as 100% stake in Rashtriya Metallic Industries Ltd (RMIL), producers of copper and copper alloy merchandise, for a consideration of as much as ₹565 crore, marking its entry into the copper recycling and processing enterprise, in accordance with the corporate’s trade filings.
The acquisition, topic to due diligence and customary approvals, values RMIL at an enterprise worth of about ₹800 crore, two executives conversant in the matter mentioned, requesting anonymity.
The acquisition of RMIL would allow Gravita to diversify into copper and copper alloy merchandise, together with recycling from copper scrap to copper alloys, alongside its current lead, plastic, rubber and aluminium companies, strengthening its place as an built-in recycling and value-added product producer, strengthening aggressive positioning and bettering margin high quality, the executives mentioned.
Based in 1946, Mumbai-based RMIL is a legacy participant within the non-ferrous metals area, manufacturing copper and copper alloy merchandise, together with strips and coils, used throughout electrical, automotive, engineering, and lock manufacturing purposes.
The corporate operates a producing facility in Gujarat with an put in capability of round 24,000 tonnes each year and derives roughly 40% of its revenues from exports to markets, together with the US, the UAE, Saudi Arabia and Egypt.
RMIL reported a turnover of ₹910 crore in FY25, up sharply from ₹688 crore in FY24. Its internet value stood at ₹300 crore as of 31 March 2025, whereas whole belongings had been valued at ₹558 crore.
Gravita additionally enters a section that’s more and more crucial amid the worldwide power transition. Copper demand is being pushed by electrical autos, renewable powercharging infrastructure and decarbonisation initiatives throughout main economies, making it a key enter metallic for the longer term.
In accordance with an August 2025 report titled India Copper Report 2026 by the Centre for Social and Financial Progress, India’s copper demand is anticipated to rise sharply. By FY30, conventional sectors comparable to building, business, and electrical energy are projected to eat roughly 3.24 million tonnes of copper.
Gravita presently operates 13 manufacturing amenities worldwide and has a presence in over 70 international locations, with trailing 12-month revenues exceeding ₹4,100 crore.