Intimation for closure of subsidiary M/s Recycling Infotech LLP
GRAVITA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gravita India Ltd's Board has approved the voluntary closure of its subsidiary Recycling Infotech LLP. The subsidiary contributed NIL to the company's turnover and had no significant net worth impact. This is a voluntary wind-down, not a sale transaction, with no consideration received. The company also announced setting up a new Copper Recycling Plant at Mandvi, Gujarat with an estimated capex of Rs. 160 crores for strategic diversification. Additionally, Deloitte Touche Tohmatsu India LLP has been appointed as the new Internal Auditor replacing PwC for FY 2026-27. The audited Q4 and full-year FY26 results were also approved.
The closure of the dormant subsidiary has no material financial impact as it was non-operational. The Rs. 160 crore copper recycling plant investment signals expansion into new business areas, potentially positive for long-term growth. The auditor change from PwC to Deloitte reflects routine governance practice.