Outcome of Board Meeting held on May 11, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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 a dramatic turnaround with revenue jumping to Rs 17,919.10 Lakhs in FY26 from just Rs 122.30 Lakhs in FY25, while profit after tax improved to Rs 1,285.03 Lakhs from a loss of Rs 200.58 Lakhs. However, the auditor issued a Disclaimer of Opinion, stating the company failed to provide adequate supporting documents, reconciliations, and statutory records. Key issues include missing sales and purchase data before July 31, 2025, unfiled GST returns since December 2025, unresolved TDS defaults, and an outstanding income tax demand from AY 2018. Trade receivables surged from Rs 31.93 Lakhs to Rs 3,471.79 Lakhs, raising questions about revenue quality. The balance sheet shows total assets at Rs 4,038.51 Lakhs with liabilities of Rs 2,547.25 Lakhs.
The Disclaimer of Opinion is a serious red flag for investors. The company lacks basic financial controls and documentation, making it impossible to verify reported numbers. Combined with suspicious revenue growth and receivables buildup, shareholders face significant risk of financial misstatement.