Audited Financial Results for the period ended March 31, 2026.
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On the reaction day the stock moved 8.1 pts more than Nifty Microcap 250 and 6.8 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Gravity India Ltd reported FY26 revenue of Rs 17,919.10 lakhs, a massive jump from Rs 122.30 lakhs in FY25, with PAT of Rs 1,285.03 lakhs versus a loss of Rs 200.58 lakhs previously. However, the company's auditor A V K A S & Co. issued a Disclaimer of Opinion, refusing to express any opinion on the financial results. The auditors stated that the company failed to provide adequate supporting documents, reconciliations, statutory records, and other necessary information required for audit verification. Key issues include: GST returns not filed since December 2025, TDS non-compliances, missing sales and purchase data prior to July 2025, unresolved income tax demand for AY 2018, and related party transaction details pending verification. The company also claimed exemption from related party transaction disclosures under Regulation 23(9).
This is a highly concerning filing with auditors refusing to validate the financial statements. The dramatic revenue growth from Rs 122 lakhs to Rs 17,919 lakhs lacks verifiable documentation. Shareholders should be extremely cautious as the accuracy and reliability of these results cannot be confirmed, and there are significant statutory compliance failures.