GRAVITA2023-04-012023-06-30 GRAVITA2023-04-012023-06-30in-bse-fin:OneOperatingExpenses01Member GRAVITA2023-06-30 GRAVITA2023-04-012023-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member GRAVITA2023-04-012023-06-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 533282 GRAVITA NA Gravita India Limited Equity 2023-04-01 2024-03-31 2023-07-24 2023-07-15 INR Crores First quarter 11:45:00 15:00:00 2023-07-24 2023-07-24 Not applicable Single segment LEAD 2023-04-01 2023-06-30 Unaudited Standalone 6538700000.00 165600000.00 6704300000.00 4468800000.00 1382300000.00 -235400000.00 283800000.00 98000000.00 32600000.00 194800000.00 6224900000.00 479400000.00 0.00 479400000.00 64100000.00 28100000.00 92200000.00 0.00 387200000.00 0.00 0.00 0.00 0.00 387200000.00 -700000.00 386500000.00 0.00 0.00 138100000.00 2 5.61 5.61 0.00 0.00 5.61 5.61 1. The above results of the Company have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their respective meetings held on July 24, 2023. The limited review, as required under regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 has been completed by the Statutory Auditors. These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended, as specified in section 133 of the Companies Act, 2013. 2. Segment information has been provided under the notes forming part of the consolidated unaudited financial results for the quarter ended June 30, 2023 as per para 4 of Indian Accounting Standard (Ind AS) 108 “Operating Segments”, specified under Section 133 of the Companies Act, 2013. 3. During the quarter ended 30 June 2023, the Compensation Committee of the Company has terminated the Gravita Stock Appreciation Rights Scheme, 2017 (‘Scheme’). Therefore, provision created in the previous period amounting to Rs. 11.63 crores has been written back in the current quarter on account of termination of Scheme. As at 30 June 2023, 1,365,940 shares (previous period: 1,380,500 shares) of face value of Rs. 2 each, are held by Gravita Employee Welfare Trust and the proceeds from the sale of shares, net of liability payable by the Gravita Employee Welfare Trust, will be used for the benefit of the employees of the Group. 4.The figures for the preceding quarter ended March 31, 2023, as reported in these financial results, are the balancing figure between audited figures in respect of the full financial year ended March 31, 2023 and the reviewed year to date published unaudited figures upto the end of third quarter of that financial year. 5.During the quarter and year ended March 31, 2023, the Company had recognised Minimum Alternate Tax credit amounting to Rs. 10.00 crores based on the management's estimate of future taxable profits. 6.During the quarter ended 30 June 2023, the Company has received a demand order from the Office of the Commissioner of Customs (Preventive), Jodhpur amounting to Rs. 70.10 crore (excluding applicable interest, fine and penalty) for violating the 'pre-import conditions' as envisaged in advance authorisation licence pertaining to the period from October, 2017 to January 2019 vide notification no. 79/2017 Customs dated 17/10/2017 of The Custom Act, 1962. The management of the Company, based on its overall assessment and independent legal and tax opinion believe that the Company has a case on merit and question of law and accordingly, will be taking appropriate steps in the prescribed time limit to contest the matter in appellate authorities. Basis above, the management is of the view that the order will not have any material impact on its financial results and in case of any liability devolves on the Company, the Company will be entitled to take the credit of the tax amount. Considering all available records, facts and opinion of legal and tax counsel, the Company has not identified any adjustments in the current period financial results. 7. The figures of previous period have been regrouped/ reclassed to make them comparative with those of current period wherever considered necessary. The impact of such reclassification/regrouping is not material to the standalone financial results. Other Expenses 194800000.00 Remeasurements of the Defined benefit Liablities -1000000.00 -1000000.00 -300000.00 change in fair value of hedging instruments 0.00 0.00 0.00