Mumbai: Recycling firm Gravita India Ltd has signed a binding time period sheet to accumulate as much as 100% stake in Rashtriya Steel 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 line 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 enhancing 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 functions.
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 price stood at ₹300 crore as of 31 March 2025, whereas complete property had been valued at ₹558 crore.
Gravita additionally enters a phase that’s more and more crucial amid the worldwide vitality transition. Copper demand is being pushed by electrical automobiles, renewable vitality, charging infrastructure and decarbonisation initiatives throughout main economies, making it a key enter steel for the longer term.
Based on 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 similar to building, business, and electrical energy are projected to devour roughly 3.24 million tonnes of copper.
Gravita presently operates 13 manufacturing services worldwide and has a presence in over 70 nations, with trailing 12-month revenues exceeding ₹4,100 crore.
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