Gravity India Limited reports a turnaround to a net profit of ₹12.85 crore for FY26 compared to a loss in the previous year. The company is seeking shareholder approval to raise ₹90 crore via QIP for working capital and plans to diversify into semiconductors and data centers. Additionally, the company is formalizing key leadership appointments and appointing a new auditor following recent resignations.
Gravity India Reports Turnaround; Eyes ₹90 Crore QIP
Net Profit for FY26 stood at ₹12.85 crore compared to a loss of ₹2.01 crore in FY25.
Total revenue surged significantly to ₹179.75 crore from ₹1.97 crore in the previous fiscal year.
Reader Takeaway: Strong earnings recovery supports growth plans, though the failed rights issue marks a key operational challenge.
What just happened
Gravity India Limited has released its FY26 financial results, revealing a robust performance shift. Alongside the earnings report, the company announced a procedural correction for its 39th Annual General Meeting (AGM) notice, fixing the e-voting end date to September 24, 2026. The company also confirmed that a previously proposed Rights Issue in April 2026 was withdrawn after failing to meet the minimum 90% subscription threshold, with refunds currently being processed.
Why this matters
The company is pivoting toward growth through a proposed ₹90 crore Qualified Institutions Placement (QIP). These funds are earmarked for general corporate purposes and working capital. Furthermore, the firm aims to expand its business footprint by altering its Memorandum of Association to include technology, digital infrastructure, data centers, and semiconductor-related activities.
What changes now
Shareholders at the upcoming AGM will vote on several strategic items, including the regularization of key management personnel: Mr. Mukesh Mahendrabhai Parmar (MD & CEO), Mr. Kuldipsinh Rathod (Executive Director & CFO), and Mr. Ankit Goel (Non-Executive Independent Director). The company is also seeking to appoint M/s. AVKAS & Co. as its new statutory auditor for a five-year term.
Context metrics
Revenue rose from ₹1.97 crore (FY25) to ₹179.75 crore (FY26).
Profit before tax reached ₹17.40 crore in FY26, reversing a ₹2.35 crore loss from the prior year.
What to track next
Watch for the outcome of the QIP approval at the AGM and subsequent updates on the operational launch of the company's new semiconductor and data center business lines.