Gravity India Ltd

Gravity (India) Limited trading window closed from October 01, 2026 until two clear trading days after announcement of Un-Audited Financial Results for the quarter ending on September 30, 2026

AGM Details

• AGM held on 25 September 2026 at 4:00 PM IST via VC/OAVM.
• Remote e-voting conducted 22–24 September 2026; votes counted at AGM.
• Scrutinizer's Report confirms all resolutions approved.

Resolutions and outcomes

• Ordinary: Adopt audited financial statements for year ended 31 March 2026 — passed.
• Ordinary: Re-appoint Dakshaben Rasiklal Thakkar on rotation — passed.
• Ordinary: Appoint AVKAS & Co. as Statutory Auditor for five years (2026–31) — passed.
• Ordinary: Appoint Arvind Sudra as Secretarial Auditor for five years (2026–31) — passed.
• Ordinary: Regularize Mukesh Parmar as MD & CEO — passed.
• Ordinary: Regularize Kuldipsinh Rathod as Executive Director & CFO — passed.
• Ordinary: Regularize Ankit Goel as Non-Executive Independent Director — passed.
• Special: Raise funds via QIP up to Rs 90 crore — passed.
• Special: Alter MOA object clause to include IT, data centres, semiconductors — passed.

AGM details

• AGM held on 25 September 2026 at 04:00 PM IST via VC/OAVM.

Key resolutions

• Adopt audited financial statements for the year ended 31 March 2026.
• Re-appoint Dakshaben Rasiklal Thakkar by rotation.
• Appoint AVKAS & Co as statutory auditor for 2026–2031.
• Appoint Arvind Sudra as Secretarial Auditor for 2026–2031.
• Regularize appointment of Mukesh Parmar as MD and CEO.
• Regularize appointment of Kuldipsinh Rathod as Executive Director & CFO.
• Regularize appointment of Ankit Goel as Non-Executive Independent Director.
• Raise funds via QIP up to Rs 90 crore.
• Alter MOA Object Clause to include IT, data centres, semiconductors.

Voting status & process

• Voting results to be declared within two working days.
• Scrutinizer appointed for remote e-voting.

Meeting details

• 39th AGM to be held on 25 September 2026 at 4:00 PM via VC/OAVM.

Key resolutions

• Adopt Audited Standalone Financial Statements for year ended 31 March 2026.
• Dakshaben Thakkar retirement by rotation; re-appointment recommended.
• AVKAS & Co appointed as statutory auditors for 2026-31.
• Arvind Sudra & Associates appointed as Secretarial Auditor for 2026-31.
• Regularise Mukesh Parmar as MD & CEO.
• Regularise Kuldipsinh Rathod as Executive Director & CFO.
• Regularise Ankit Goel as Non-Executive Independent Director.
• Approve QIP of ₹90 crore with floor price and up to 5% discount.
• Alter MOA Clause III(A) to add new main objects; no name change.

Fundraising & MOA changes

• Proceeds to be used for working capital and general corporate purposes; general use capped at 25%.
• Rights issue proposal not completed; refunds initiated.

Financial highlights

• Turnover for 2025-26: ₹17,919.10 Lacs; Total Revenue ₹17,974.66 Lacs.
• Net profit after tax ₹1,285.03 Lacs; prior year loss ₹200.58 Lacs.
• Authorized capital increased to ₹100 crore; issued capital ₹9.0019 crore.

Governance & disclosures

• Independent Director Komal Patel resigned; Ankit Goel appointed.
• Statutory Auditor appointment noted; prior auditors resigned.
• Secretarial Auditor Arvind Sudra & Associates appointed for 2025-26.
• e-AGM conducted via VC/OAVM with NSDL e-Voting facility.
• Listing status: shares listed on BSE IndoNext; listing fee paid.
• Dividend for the year: none declared.

AGM agenda and key resolutions

• AGM scheduled for 25 September 2026 at 4:00 PM via VC/OAVM.
• Adoption of standalone financial statements for year ended 31 March 2026.
• Retirement by rotation: Dakshaben Rasiklal Thakkar; reappointment sought.
• Appointment of Statutory Auditor M/s AVKAS & Co for 2026-31.
• Appointment of Secretarial Auditor Arvind Sudra for 2026-31.
• Regularise Mukesh Parmar as Managing Director and Chief Executive Officer.
• Regularise Kuldipsinh Rathod as Executive Director and CFO.
• Regularise Ankit Goel as Non-Executive Independent Director.
• QIP up to ₹90 crore; to be offered to QIBs.
• Floor price not less than floor price; discount up to 5%.
• Proceeds to be used for working capital and general corporate purposes; general cap 25%.
• QIP completion to be within 365 days from approval.
• Proposed listing of Equity Shares on the existing stock exchange.
• Board authorized to finalize placement documents and engage intermediaries.
• MOA alteration: Clause III(A) to insert new main objects.
• Renumbering: existing sub-clauses renumbered accordingly.
• Board authorized to file necessary documents with RoC and regulators.
• Financial results: revenue 17,974.66 lakh; net profit after tax 1,285.03 lakh; no dividend.
• Authorized capital increased to ₹100 crore; issued capital ₹9.00 crore.

Book Closure Details

• Book closure from 19 Sep 2026 to 25 Sep 2025 (inclusive) for 39th AGM.
• Purpose: 39th Annual General Meeting.
• Record date for e-voting: 18 Sep 2026.
• AGM date: 25 Sep 2026.
• Security: Equity shares of Rs.10 each.

Financial performance

• FY25-26 revenue from operations: ₹17,919.10 Lakh; prior year ₹122.30 Lakh.
• Total revenue: ₹17,974.66 Lakh in FY25-26.
• Net profit after tax: ₹1,285.03 Lakh.
• Earnings per share: ₹14.28.
• No dividend declared for the year.
• Net cash from operating activities: ₹44.31 Lakh.

Capital structure & liquidity

• Authorized capital increased to ₹100 crore in January 2026.
• Paid-up capital: ₹900.20 Lakh, 9,001,950 shares.
• Long-term borrowings: ₹224.24 Lakh; current borrowings: ₹15.31 Lakh.
• Debt-to-equity ratio: 0.16; current ratio: 1.56.
• Dematerialisation: 97.91% of shares in demat.

Fundraising & expansion

• QIP planned up to ₹90 crore for working capital and general corporate purposes.
• Utilisation to follow SEBI ICDR rules; 25% cap on General Corporate Purposes.
• Rights issue in Apr 2026 aborted; refunds initiated.
• MOA amended to include data centres, semiconductors, IT services.

Strategy & operations

• Strategic focus on data centres, cloud infra, AI, IoT.
• Growth driven by sustainability and digital transformation initiatives.
• Industry trends include automation and e-commerce expansion.

Governance & leadership changes

• MD Mukesh Parmar; CFO: Kuldipsinh Rathod; Company Secretary Geetanjali Malik.
• Independent Director Komal Patel resigned; Ankit Goel appointed.
• Varun Thakkar renamed Non-Executive Chairman; board attendance high.
• Board meetings: 10; Audit Committee: 7; NRC: 6; Stakeholders: 4.

Audit, risk & compliance

• Auditor AVKAS & Co appointed; prior firm resigned.
• Auditors issued disclaimer on FY26 standalone results; going concern risk noted.
• Secretarial audit flagged missing XBRL filings and registers not updated.
• Internal audit not conducted in the year; GST returns not filed since Dec 2025.

Shareholding & market data

• Dematerialised shares: 97.91%; outstanding equity shares: 9,001,950.
• Promoters' holdings: Varun Thakkar 5.99%; Gravity Textiles group 7.78%.
• Public holding 62.14%; NRIs 4.56%; Others 0.15%.

AGM Details

• AGM on 25 September 2026 at 4:00 PM via VC/OAVM.
• Mode: VC/OAVM; venue deemed at the registered office.
• Remote e-voting: 22 Sep 2026 09:00 to 25 Sep 2026 17:00.
• Record date/cut-off: 18 September 2026.
• Register of Members closed 19–25 September 2026.

Ordinary Business

• Adoption of standalone financial statements for year ended 31 March 2026.
• Retirement by rotation; re-appointment of Dakshaben Thakkar.
• Appointment of AVKAS & Co. as Statutory Auditor for 2026–2031.
• Appointment of Arvind Sudra as Secretarial Auditor for 2026–2031.
• Regularize Mukesh Parmar as MD & CEO.
• Regularize Kuldipsinh Rathod as Executive Director & CFO.
• Regularize Ankit Goel as Non-Executive Independent Director.

Special Business

• Raise funds via QIP up to ₹90 crore.
• QIP to be offered to QIBs in one or more tranches.
• Pricing floor with discount up to 5%; 365-day completion window.
• Utilisation towards working capital and general corporate purposes (up to 25%).
• Alter MOA Main Objects to enable data centres, semiconductors, IT and related activities.

Dividend

• Dividend not recommended for the year.

Board/Directors Changes

• Independent Director Komal Patel resigned; Ankit Goel appointed as Independent Director.
• Regularise additional appointments: MD & CEO; Executive Director & CFO; Independent Director.

Auditors

• Previous statutory auditors resigned; AVKAS & Co appointed as Statutory Auditors.
• Secretarial Auditor appointed: Arvind Sudra & Associates for 2025–26.

Related Party Transactions

• Related party transactions were at arm's length and in the ordinary course.
• Details disclosed in Form AOC-2; RPT policy on file.

QIP proposal

• Approved raising up to ₹90 crore via QIP to QIBs in one or more tranches.
• Proceeds for working capital and general corporate purposes; general corporate portion capped at 25%.

MOA main-object expansion

• Approved alteration of MOA to insert IT services, data centres, data storage, processing, and cloud infrastructure.

AGM scheduling and notices

• 39th AGM fixed for 25 September 2026 at 04:00 PM via Video Conference.
• Notice, agenda, and related materials approved for the AGM.
• 38th AGM date fixed as 30 September 2025.

Book closure and record date

• Book Closure from 19 September to 25 September 2026.
• Record Date fixed at 18 September 2026.

Scrutinizer appointment

• Appointed Arvind Sudra & Associates as Scrutinizer for e-voting.

Regulatory disclosures (Annexure-A)

• Annexure-A outlines SEBI ICDR compliance and approvals required.