Announcement under Regulation 30(LODR)-Change in Management
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Awaiting price reaction for this filing.
Gravity (India) Ltd announced a major leadership reshuffle at its board meeting on January 8, 2026. Managing Director Mr. Manoj Kanhiyalal Ramavat resigned citing other professional commitments. To fill the casual vacancy, Mr. Mukesh Mahendrabhai Parmar, who has a background in agriculture and infrastructure businesses, was appointed as the new Managing Director with immediate effect. Separately, the company's statutory auditor M/s. DDM & Associates resigned, creating a casual vacancy, which has been filled by M/s. AVKAS & Co. (FRN: 155352W). The new auditor has also been appointed for a 5-year term covering FY 2025-26 through FY 2029-30. Both the MD appointment and the auditor appointment are subject to shareholder approval at the ensuing AGM.
A single-day change at both the top executive and auditor level is notable and warrants investor attention. Shareholders should monitor the strategic direction under the new MD, whose background appears unrelated to the company's existing business, and await clarity at the next AGM.