Gravita India Limited has informed the Exchange regarding Change in Auditors of the company.
GRAVITA · price
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Gravita India held its Board meeting on May 7, 2026, approving multiple items. The company appointed Deloitte Touche Tohmatsu India LLP as the new Internal Auditor, replacing PwC Services LLP whose tenure completed. Key financial highlights show standalone revenue of Rs. 3,481.37 crore (up 8% YoY) and net profit of Rs. 267.02 crore (up 37.5% YoY). Consolidated revenue stood at Rs. 4,265.27 crore with net profit of Rs. 378.33 crore. The board also approved closure of subsidiary Recycling Infotech LLP (nil turnover contribution) and setting up a copper recycling plant at Mandvi, Gujarat with Rs. 160 crore capex. Additionally, the company acquired 98.95% stake in Rashtriya Metal Industries Limited for Rs. 559.08 crore in March 2026.
The change in internal auditor is routine (tenure completion) and not a concern. Strong profit growth of 37.5% on standalone basis is positive for shareholders. The new copper recycling plant and RMIL acquisition signal strategic expansion in the metals recycling business.