Result - Financial Result - 23/04/2025
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Awaiting price reaction for this filing.
Gravity (India) Limited reported audited financial results for FY25, with total income falling to Rs. 196.89 lakhs from Rs. 227.60 lakhs in FY24, and net sales dropping sharply to Rs. 122.30 lakhs from Rs. 225.45 lakhs. The company posted a loss after tax of Rs. 200.58 lakhs, narrower than last year's Rs. 616.34 lakh loss, with EPS at Rs. -2.23. Total equity has shrunk to Rs. 206.22 lakhs with reserves deeply negative at Rs. -693.97 lakhs. The statutory auditor (A.R. Sodha & Co.) issued an Adverse Opinion, flagging that the going concern assumption is inappropriate as the company has ceased operations, carries accumulated losses and significant liabilities, and the financial statements do not reflect liquidation-basis adjustments. The auditor also noted non-compliance with Ind AS 19 as gratuity obligations were not actuarially valued, and inventories were written down to zero.
This is a deeply negative filing for shareholders: the auditor's adverse opinion and the explicit going concern doubt indicate serious doubt about the company's ability to continue operating. Net sales have collapsed and reserves are deeply negative, signaling high risk of value erosion and possible delisting or liquidation action.