Gravita has signed a contract with Amara Raja Batteries Limited for Lead Acid Battery Scrap Collection and Recycling arrangements. Under this contract Gravita shall collect/purchase Lead Acid Battery scrap from designated locations of Amara Raja. It is a joint initiative towards environment protection and sustainability under which used batteries shall be recycled and Pure Lead/Lead Alloys will be supplied back to Amara Raja.
Gravita targets supply of approx. 8000 MT of Lead to Amara Raja under the said contract which will help the company to strengthen its top line in FY 2018‐19 coupled with cost effective recycling and long term business association with Amara Raja. The supplies under this contract will be effected during F.Y. 2018‐19.
Further the said contract is from independent party and the promoter/promoter group/group
Companies have no interest in the entity providing the said contract neither this contract will fall under Related Party Transaction.