Gravita India enters copper recycling biz, acquires Rashtriya Metal

Mumbai: Recycling company Gravita India Ltd has signed a binding term sheet to acquire up to 100% stake in copper and copper alloy products manufacturer Rashtriya Metal Industries Ltd (RMIL) for consideration of up to ₹100. ₹565 crore, according to the company’s stock exchange filings, marking its entry into the copper recycling and processing business.

This acquisition, which is subject to due diligence and customary approvals, provides RMIL with approximately ₹800 crore, two executives familiar with the matter said, requesting anonymity.

The acquisition of RMIL will enable Gravita to diversify into copper and copper alloy products, including recycling from copper scrap to copper alloys, alongside its existing lead, plastic, rubber and aluminum businesses, strengthen its position as an integrated recycling and value-added product manufacturer, strengthen its competitive position and improve margin quality, executives said.

Founded in 1946, Mumbai-based RMIL is a legacy player in the non-ferrous metals space, manufacturing 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 approximately 24,000 tonnes per annum and generates approximately 40% of its revenues from exports to markets including the US, UAE, Saudi Arabia and Egypt.

RMIL reported turnover of: ₹910 crore in FY25, a sharp increase. ₹688 crore in FY24. His net worth was as follows: ₹300 crore as on March 31, 2025, while total assets are ₹558 crore.

Gravita also enters a segment that is increasingly critical in the global energy transition. Demand for copper is driven by electric vehicles, renewable energy, charging infrastructure and decarbonization initiatives in major economies, making copper a key input metal for the future.

According to the Center for Social and Economic Progress’s report titled India Copper Report 2026 in August 2025, India’s copper demand is expected to rise sharply. By FY30, traditional sectors such as construction, industry and electricity are projected to consume approximately 3.24 million tonnes of copper.

Gravita currently operates 13 manufacturing facilities worldwide and has a presence in over 70 countries, with trailing 12-month revenue ₹4,100 crore.