Gravita India Ltd has signed definitive agreements to acquire a 98.95% stake in Gujarat-based Rashtriya Metal Industries Ltd (RMIL) for a total cash consideration of ₹559.08 crore, as part of its strategic initiative to expand its presence and strengthen capabilities.
RMIL has established a strong presence in electrical and automotive applications, providing Gravita access to high-entry-barrier and policy-supported segments aligned with India’s Make in India initiative.
The proposed acquisition will enable Gravita to expand into copper and copper alloy products, including recycling of copper scrap into copper alloys, complementing its existing businesses in lead, plastic, rubber, and aluminium recycling.
The move is expected to strengthen Gravita’s position as an integrated recycling and value-added products manufacturer while enhancing its competitive positioning and margin profile.
The acquisition comes at a time when global demand for copper continues to grow. Over the past 50 years, world refined copper consumption has more than tripled, driven by expanding sectors such as electrical and electronics, building construction, industrial machinery, transportation equipment, and consumer products.
RMIL manufactures copper and copper alloy products, including strips and coils, and has a strong export presence. About 40% of its revenue comes from exports to markets such as the UAE, USA, Thailand, Sri Lanka, Kenya, Indonesia, Oman, and Saudi Arabia. It reported turnover of ₹910 crore in FY25.
The company operates an integrated manufacturing facility in Sarigam, Gujarat, spread across 15 acres, with an installed production capacity of 31,200 tonnes per annum.
The transaction is expected to close by March 31, 2026.
Jaipur-based Gravita’s core businesses include lead battery recycling, aluminium alloy manufacturing, plastic recycling, and waste tyre recycling. Its product portfolio includes specialised lead alloys, red lead, lead oxide, aluminium alloys, plastic granules, recovered carbon black, and tyre pyrolysis oil.
The company has also executed more than 70 turnkey recycling projects globally, offering end-to-end solutions from design and engineering to commissioning.