Re-submission of Annual report of Gravity India limited for FY 2024-25
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gravity (India) Limited has re-submitted its 38th Annual Report for FY2024-25 and the notice for its 38th Annual General Meeting, scheduled for 30th September 2025 via video conferencing. The AGM includes a key special resolution to change the company's main business object — pivoting away from its existing fabrics and garments business into IT services, software development, web and mobile applications, electronic products trading, and consulting. Other AGM items include the appointment of new statutory and secretarial auditors for a five-year term, regularization of several new directors including Manoj Ramavat as Managing Director, and re-appointment of a rotating director. Financially, turnover fell sharply from Rs. 225.45 lakh to Rs. 122.30 lakh year-on-year, though net loss narrowed from Rs. 616.34 lakh to Rs. 200.58 lakh. No dividend was recommended and there are no changes to share capital.
Shareholders will be asked to vote on a major strategic shift from a struggling textiles business to IT and technology services, which could materially reshape the company's future direction. The declining top line combined with continued losses signals weak current operations, though the narrowing loss is a small positive; investors should watch the September 30 AGM outcomes closely, especially the diversification vote.