5332822025-01-012025-03-315332822025-03-315332822024-03-315332822024-04-012025-03-315332822025-01-012025-03-31in-capmkt:OtherExpenses1Member5332822024-04-012025-03-31in-capmkt:OtherExpenses1Member5332822025-01-012025-03-31in-capmkt:ReportableSegments1Member5332822025-01-012025-03-31in-capmkt:ReportableSegments2Member5332822025-01-012025-03-31in-capmkt:ReportableSegments3Member5332822025-01-012025-03-31in-capmkt:ReportableSegments4Member5332822025-01-012025-03-31in-capmkt:ReportableSegments5Member5332822024-04-012025-03-31in-capmkt:ReportableSegments1Member5332822024-04-012025-03-31in-capmkt:ReportableSegments2Member5332822024-04-012025-03-31in-capmkt:ReportableSegments3Member5332822024-04-012025-03-31in-capmkt:ReportableSegments4Member5332822024-04-012025-03-31in-capmkt:ReportableSegments5Member5332822025-01-012025-03-31in-capmkt:ReportableSegments1Member5332822025-01-012025-03-31in-capmkt:ReportableSegments2Member5332822025-01-012025-03-31in-capmkt:ReportableSegments3Member5332822025-01-012025-03-31in-capmkt:ReportableSegments4Member5332822025-01-012025-03-31in-capmkt:ReportableSegments5Member5332822024-04-012025-03-31in-capmkt:ReportableSegments1Member5332822024-04-012025-03-31in-capmkt:ReportableSegments2Member5332822024-04-012025-03-31in-capmkt:ReportableSegments3Member5332822024-04-012025-03-31in-capmkt:ReportableSegments4Member5332822024-04-012025-03-31in-capmkt:ReportableSegments5Member5332822025-01-012025-03-31in-capmkt:ReportableSegments1Member5332822025-03-31in-capmkt:ReportableSegments1Member5332822025-01-012025-03-31in-capmkt:ReportableSegments2Member5332822025-03-31in-capmkt:ReportableSegments2Member5332822025-01-012025-03-31in-capmkt:ReportableSegments3Member5332822025-03-31in-capmkt:ReportableSegments3Member5332822025-01-012025-03-31in-capmkt:ReportableSegments4Member5332822025-03-31in-capmkt:ReportableSegments4Member5332822025-01-012025-03-31in-capmkt:ReportableSegments5Member5332822025-03-31in-capmkt:ReportableSegments5Member5332822025-01-012025-03-31in-capmkt:ReportableSegments1Member5332822025-03-31in-capmkt:ReportableSegments1Member5332822025-01-012025-03-31in-capmkt:ReportableSegments2Member5332822025-03-31in-capmkt:ReportableSegments2Member5332822025-01-012025-03-31in-capmkt:ReportableSegments3Member5332822025-03-31in-capmkt:ReportableSegments3Member5332822025-01-012025-03-31in-capmkt:ReportableSegments4Member5332822025-03-31in-capmkt:ReportableSegments4Member5332822025-01-012025-03-31in-capmkt:ReportableSegments5Member5332822025-03-31in-capmkt:ReportableSegments5Member5332822025-01-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15332822024-04-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15332822025-01-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15332822025-01-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss25332822024-04-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15332822024-04-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss25332822025-01-012025-03-31AuditorDomain15332822025-01-012025-03-31in-capmkt:AuditedMember5332822025-03-31in-capmkt:AuditedMember5332822025-01-012025-03-31in-capmkt:AdjustedMember5332822025-03-31in-capmkt:AdjustedMember5332822025-01-012025-03-31AuditQualification1iso4217:INRiso4217:INRxbrli:shares533282GRAVITANOTLISTEDINE024L01027GRAVITA INDIA LIMITEDMain BoardEquity2024-04-012025-03-312025-05-022025-04-25INRCroresQuarterlyFourth quarterMulti segment2025-05-0211:00:002025-05-0217:00:00trueCash Flow IndirectStatement on impact of audit qualification2025-01-012025-03-31AuditedConsolidated103707000003575000001072820000070474000004000001408900000365400000562000007750000062670000095825000001145700000011457000001739000002260000019650000009492000000000949200000-124100000825100000951300000-2100000827200000-2100000147600000213.0413.040013.0413.041.TheconsolidatedfinancialresultsoftheGroupforthequarterandyearendedMarch31,2025,havebeenreviewedbytheAuditCommitteeandapprovedbytheBoardofDirectorsattheirmeetingheldonMay01,2025andMay02,2025respectively.Thestatutoryauditorshaveexpressedamodifiedopinioninauditreportontheseconsolidatedfinancialresults.TheseconsolidatedfinancialresultshavebeenpreparedinaccordancewiththerecognitionandmeasurementprinciplesofapplicableIndianAccountingStandards('IndAS')notifiedundertheCompanies(IndianAccountingStandards)Rules,2015(asamended),asspecifiedinsection133oftheCompanies Act, 2013. <BR> <BR> Notes are attached in PDF format of Financial Results as there is limitation of words.2024-04-012025-03-31AuditedConsolidated3868770000011184000003980610000031754000000143300000-1693000001594900000433700000290900000212400000036171500000363460000003634600000535800000-302000005056000000312900000000003129000000-166500000296250000031239000005100000295730000052000001476000002045.1145.110045.1145.11Other Expenses626700000Other Expenses212400000042248000003929000000583000007400000000000047750000047750000015930000017310000055599000006168000000491090000027508000009461000003126600000600000009140000001270840000007145000001959090000000251508000001476000002055150000020699100000762000002077530000019019000000002810000019300000001182000003600000011000002052900000921400000739000003221000003960000007190000002036400000122000000510000001132000000232260000000437550000025150800000Lead9115500000Aluminium1003700000Plastics190900000Turnkey projects57900000Others2700000Lead34194200000Aluminium3412000000Plastics844500000Turnkey projects199600000Others3740000010370700000386877000001037070000038687700000Lead1141300000Aluminium47800000Plastics3500000Turnkey projects900000Others400000Lead3764400000Aluminium266700000Plastics114600000Turnkey projects47100000Others112000001193900000420400000056200000433700000-800000013570000011457000003634600000Lead12747700000Aluminium2240000000Plastics463100000Turnkey projects283100000Others3470000015768600000938220000025150800000Lead1917000000Aluminium693000000Plastics122900000Turnkey projects141600000Others24400000289890000014766000004375500000433700000578100000-1783000000-37130000000-1639000000-2804000000-81900000-4040000029090000010800000471000000-3364000000-3260000001871000000-625000000010900000561000000-307200000332740000000050560000002821800000000000005200000107310000005172500000000000000006000000000001610000000-2496900000-863630000000981490000000000-862900000174930000037000003538000004427000000064025000005880000000588000000358100000946100000Remeasurements of the defined benefit liabilities-22700000-22700000Remeasurements of the defined benefit liabilities-34000000-34000000-8000000-11900000Foreign currency translation reserve-109400000Change in fair value of hedging instruments*0-109400000Foreign currency translation reserve-154600000Change in fair value of hedging instruments*15700000-13890000005500000-124100000-166500000AuditedQualified opinionWalker Chandiok & Co LLPtrue2025-05-31398061000003980610000036171500000361715000003634600000363460000045.1145.112515080000025150800000437550000043755000002077530000020775300000As stated in note 11 to the accompanying Statements, during the previous year ended 31 March 2024, the Holding Company had not accounted for the employee benefit expenses related to gain on sale of certain treasury shares of the Holding Company held by Gravita Employee Welfare Trust pursuant to the Gravita Stock Appreciation Rights Scheme, 2017 (the 'Scheme') terminated during the year then ended, which had been credited to Other Equity as per Ind AS 32, Financial Instruments: Presentation during the year ended 31 March 2024. As explained in the said note, proceeds from sale of such treasury shares, net of liability of the Trust, if any, were proposed to be used for the welfare of the employees, as required under applicable statutory regulations and as per the terms of the trust deed. In our view, the Group should have accounted for such benefits to be given to employees as employee benefit expenses in the Statement of Profit and Loss in accordance with the principles of Ind AS 102 - Share Based Payments. However, the Group had created a liability for such employee welfare expense by directly debiting 'Other Equity' in the accompanying Statements. <br></br> <br></br> Had the Group accounted for the aforesaid transaction in accordance with the requirements as stated above, employee benefit expenses would have been higher by Rs. 20.67 crores and profit before tax and total comprehensive income would have been lower by Rs. 20.67 crores for the year ended 31 March 2024, respectively. There would not be any impact on the Other Equity of the Group. Our audit opinion on the consolidated financial results of the Holding Company for the year ended 31 March 2024 was qualified in respect to this matter. <br></br> <br></br> Consequently, our opinion on the accompanying statements is also qualified because of the effects of this matter on the comparability of current period figures with the corresponding figures of employee benefit expenses and total comprehensive income for the year ended 31 March 2024 presented in the accompanying statements. <br></br> <br></br> Qualified opinionRepetitiveDuring the previous year ended March 31, 2024, 380,500 shares of face value of Rs. 2 each of the Holding Company, held by the Gravita Employee Welfare Trust (the Trust) had been sold in the open market and the proceeds from the sale of such shares, net of liability payable by the Trust, had to be recognized for the welfare of the employees of the Group as per the requirement of the Trust Deed. The Holding Company has no legal right or control towards the utilization of funds as accumulated in the Trust by sale of its investment in the open market. The Trust being an independent entity has sole responsibility / obligation to utilize the fund for the welfare of beneficiaries (employees) as per the terms of the trust deed. Ind AS 102 Share-based payment requires an entity to reflect in its profit or loss and financial position, the effects of share-based payment transactions, including expenses associated with the transactions in which share options are granted to employees. During the previous year ended March 31, 2024, the Gravita Stock Appreciation Rights Scheme, 2017 (the Scheme) had been terminated. Post termination of the Scheme, the Trust has no obligation to make payment under any share- based payment scheme. The Trust will act independently and make distribution/usage of fund as per the purpose defined in the trust deed. <br></br> <br></br> For the aforesaid reason, the management of the Group is of the view that distribution/utilisation for the employee benefits, equivalent to appreciation, net of liability of the Trust, if any, received by the Trust by selling the investment in the open market amounting to Rs. 20.67 crores, would not be recognised in Holding Companys consolidated statement of profit and loss for the previous year ended March 31, 2024, as the transaction was not covered under Ind AS 102. The Group believes that all the appreciation on sale of such shares by the Trust pertains to the employees and will be utilised for the welfare of the employees by the Trust and there would not be any impact on the consolidated financial results. The Group had directly debited other equity with the same amount towards creating a liability for utilisation of said amount for the employee welfare. Based on the independent legal opinion and its assessment, management of the Group is of the view that accounting treatment had been done appropriately in the consolidated financial results for the previous year ended March 31, 2024. <br></br> <br></br> The Employee Welfare Trust has sold 101 shares of the Holding Company in the open market during the year ended March 31, 2025. <br></br> <br></br> The statutory auditors of the Holding Company have modified their opinion on the consolidated financial results with respect to this matter on the comparability of current period figures with the corresponding figures of employee benefit expenses and total comprehensive income for the year ended March 31, 2024 presented. <br></br> <br></br> NANANAYogesh MalhotraSunil KansalAshok JainWalker Chandiok & Co LLPJaipur2025-05-02