Gratex Industries Limited , a wallpaper and furnishing products manufacturer, has been fined Rs 2,000 by the Bombay Stock Exchange (BSE) for a one-day delay in submitting its annual report for the year ended March 31, 2025. The company has also released its unaudited financial results for the quarter and half-year ended September 30, 2025.

Fine Details and Company Response

The BSE imposed the fine, excluding GST, for non-compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Gratex Industries submitted the annual report on August 11, 2025, but initially filed it under an incorrect category path. The exchange raised a query on August 12, 2025, requesting the company to resubmit under the correct compliance head, which was done the same day.

The Board of Directors reviewed the matter and argued that the submission was made on time with the correct content, with only the filing path being different. The company has filed a waiver application with the BSE on November 1, 2025.

Q2 Financial Performance

For the quarter ended September 30, 2025, Gratex Industries reported the following financial results:

The company's revenue from operations showed an improvement, increasing from Rs 90.91 lakhs in Q2 FY2025 to Rs 110.31 lakhs in Q2 FY2026. The net profit after tax also rose to Rs 2.93 lakhs in Q2 FY2026, compared to Rs 1.93 lakhs in the same quarter of the previous year.

For the half-year ended September 30, 2025, Gratex Industries reported a total income of Rs 201.65 lakhs, slightly lower than the Rs 204.34 lakhs reported in the corresponding period of the previous year. However, the net profit after tax for H1 FY2026 increased to Rs 4.86 lakhs from Rs 1.51 lakhs in H1 FY2025.

The company's Board of Directors approved these unaudited financial results at their meeting held on November 11, 2025. The results have been subjected to a limited review by the statutory auditors of the company.

Gratex Industries continues to focus primarily on the wallpaper and furnishing products business. The company's management remains committed to improving its financial performance and ensuring compliance with regulatory requirements.

Gratex Industries Limited has announced significant corporate developments, including the re-appointment of its Managing Director and the approval of its annual report for the fiscal year 2024-25.

Board Approves Re-appointment of Managing Director

The Board of Directors of Gratex Industries Limited, in a meeting held on August 8, 2025, approved the re-appointment of Mr. Karan Baldevkrishan Sharma as the Managing Director for another three-year term. The new term is set to commence from July 30, 2026, and will continue until July 29, 2029, subject to shareholder approval at the upcoming 41st Annual General Meeting (AGM).

Mr. Sharma, who has been a director of the company since September 27, 2000, brings a wealth of experience to his role. He holds a B.Com (Hons.) qualification and is recognized for his expertise in manufacturing, general management, sales, and marketing. As a second-generation entrepreneur, Mr. Sharma has significantly contributed to the company's growth.

Key Details of the Re-appointment

• Term: Three years (July 30, 2026 to July 29, 2029)
• Approval Process: Recommended by the Nomination and Remuneration Committee
• Remuneration: Approved and recommended by the Audit Committee

Corporate Governance Compliance

In compliance with regulatory requirements, Gratex Industries confirmed that Mr. Sharma is not debarred from accessing capital markets or holding directorship positions by any regulatory authority, including SEBI.

Annual General Meeting and Financial Reporting

The company also announced its 41st AGM, scheduled for September 16, 2025, at 1:00 P.M., to be held via video conferencing or other audio-visual means. Key dates related to the AGM include:

Additionally, the Board approved the Annual Report for the financial year ended March 31, 2025, which will be made available to shareholders and on the company's website in due course.

Management Structure and Family Ties

Mr. Karan Baldevkrishan Sharma is part of the family leadership at Gratex Industries. He is the son of Director Mr. Baldevkrishan Ramrattan Sharma and the brother of Director-CFO Mrs. Mona Pratap Menon, highlighting the family's significant involvement in the company's management.

The re-appointment of Mr. Sharma and the approval of the annual report demonstrate Gratex Industries' commitment to continuity in leadership and transparent financial reporting as it moves forward in the 2025-26 fiscal year.