Outcome of Board Meeting of Gravity India Limited held on 13.11.2025
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Gravity (India) Limited's board approved its unaudited financial results for Q2 FY26 and H1 FY26, showing a dramatic turnaround. Revenue from operations surged to ₹2,044.09 lakhs in Q2 FY26 from just ₹10.48 lakhs in Q2 FY25, while net profit came in at ₹144.91 lakhs versus a loss of ₹138.27 lakhs in the year-ago quarter. EPS for the quarter was ₹1.61 versus a loss per share of ₹1.54. However, the auditor (DDM & Associates) issued a qualified conclusion, flagging serious concerns: no confirmations for ₹2,036.40 lakhs of receivables, possible mismatch between business activities and the company's MoA object clause, non-recognition of employee benefit obligations under Ind AS 19, non-recognition of right-of-use assets/lease liabilities under Ind AS 116, and non-deposit of TDS deducted from vendor payments.
While headline numbers show a sharp profit turnaround, the auditor's qualifications raise red flags about receivables quality, accounting compliance, and tax discipline — shareholders should treat the earnings with caution. Total assets ballooned to ₹2,512.97 lakhs from ₹600.23 lakhs, largely driven by a massive jump in trade receivables (₹2,085 lakhs) that the auditor could not verify, which may weigh on the stock sentiment.