Gravita India Limited — Others, 02-05-2025: Appointment

Gravita India Ltd. has announced a board meeting approving the financial results for the quarter and financial year ended March 31, 2025, and declared an interim dividend of Rs. 6.35 per share. PwC replaces KPMG as internal auditor, while Pinchaa & Co. is re-appointed as secretarial auditor for five years, pending shareholder approval. Statutory auditors issued a qualified opinion due to non-recognition of Rs. 20.67 Cr employee benefit expenses tied to gains on treasury shares, which management disputes. The company raised Rs. 1,000 Cr through QIP, mainly for debt repayment, capex, and working capital. Consolidated results include a new European rubber recycling business. The group is disputing a customs duty demand of Rs. 70.10 Cr, expecting no significant impact.