Gravity (India) Limited has officially notified the Bombay Stock Exchange regarding the resignation of its statutory auditors M/s DDM & Associates, Chartered Accountants, effective November 14, 2025. The announcement was made in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Auditor Resignation Details

The auditing firm DDM & Associates, with Firm Registration Number 133446W, submitted their resignation letter on November 14, 2025, informing the company of their inability to continue as statutory auditors. The primary reason cited for the resignation was pre-occupation with other assignments, preventing them from fulfilling their audit responsibilities for the company.

Regulatory Compliance

The company has fulfilled its disclosure obligations by providing comprehensive details as required under SEBI regulations. The notification was made pursuant to Regulation 30 of the SEBI Listing Regulations, read with SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Gravity (India) has attached the complete resignation letter along with Annexure A received from the auditing firm to ensure transparency in the disclosure process. The company has requested the stock exchange to take this information on record as part of its ongoing compliance with listing requirements.

Impact on Operations

The resignation represents a change in the company's audit arrangements, requiring the appointment of new statutory auditors to fulfill regulatory and compliance requirements. The company will need to initiate the process of selecting and appointing replacement auditors to ensure continuity in its audit functions and maintain compliance with statutory obligations.

Gravita India Limited has officially announced the results of its postal ballot process that concluded on December 26, 2025, with shareholders demonstrating overwhelming support for executive remuneration revisions. The voting results were declared under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Official Postal Ballot Results

The e-voting process conducted through Central Depository Services (India) Limited (CDSL) saw exceptional shareholder participation across all three special resolutions:

All resolutions were passed as Special Resolutions with the requisite majority from a total of 73,808,451 outstanding shares, representing 68.52% to 68.57% voter participation.

Regulatory Compliance and Process

The postal ballot was conducted in strict compliance with regulatory requirements:

Mr. Akshit Kumar Jangid of Pinchaa & Co., Company Secretaries, served as the scrutinizer and submitted his report confirming the fair and transparent conduct of the voting process.

Executive Remuneration Approvals

Shareholders approved revised remuneration packages for three key executives:

Mr. Rajat Agrawal - Chairman cum Managing Director (DIN: 00855284):

• Resolution received 99.96% approval
• Promoter group showed complete support (100% approval)

Mr. Yogesh Malhotra - Whole-Time Director & CEO (DIN: 05332393):

• Resolution secured 98.02% shareholder approval
• Non-promoter institutional investors showed 89.13% support

Mr. Sunil Kansal - Whole-Time Director & CFO (DIN: 09208705):

• Resolution passed with 98.01% approval
• Public non-institutional investors demonstrated 91.39% support

Corporate Governance Framework

The company maintained high standards of corporate governance throughout the process. Company Secretary Nitin Gupta (FCS: 9984) coordinated the entire postal ballot exercise, with results declared by Mr. Yogesh Malhotra, Whole Time Director & CEO, at the company's corporate office in Jaipur.

The voting process was conducted entirely through electronic means, with notices sent to all registered shareholders via email. The company utilized CDSL's remote e-voting platform to ensure secure and transparent voting procedures.

Financial Performance Context

The overwhelming shareholder support comes amid Gravita India's strong financial performance, with the company demonstrating significant growth across key metrics:

With the company's global expansion to 13 manufacturing facilities and robust financial growth, shareholders have clearly endorsed the leadership team's performance and the proposed compensation structure as appropriate for sustaining the company's growth trajectory.