Declaration of Non-Applicability of Report on Corporate Governance under Regulation 27(2), as per the exemption givem in Regulation 27(2), as per the exemption given in Regulation 15(2)(a) ....
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Awaiting price reaction for this filing.
Gravity (India) Limited has informed BSE that it is exempt from filing the quarterly Corporate Governance Report for Q1 FY26 (quarter ended June 30, 2025) under SEBI LODR Regulation 15(2)(a). The exemption applies because the company's paid-up equity capital (₹9.00 crore) is below ₹10 crore and its net worth (₹2.06 crore as on March 31, 2025) is below ₹25 crore. The company has enclosed a certificate from its Company Secretary confirming these figures. Notably, the company's net worth has fallen sharply — from ₹10.23 crore in FY23 to ₹4.07 crore in FY24 to just ₹2.06 crore in FY25 — while paid-up capital has remained unchanged.
This is a routine procedural filing and has no direct impact on the stock price. However, investors should note the steep erosion in net worth over the past three years, which signals weakening financial health and is the very reason the company qualifies for the small-cap governance exemption.