Textile · Founded 1987 · www.gravityindialtd.com · BSE 532015 · · ISIN INE995A01013
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1. Business Overview
Gravity (India) Ltd. operates in the Textile sector. As a textile company in India, its core business likely involves the manufacturing, processing, and/or trading of various textile products. This could range from spinning yarn, weaving fabric, dyeing and finishing, to garment manufacturing or production of home textiles. The company primarily makes money through the sale of these manufactured or traded textile goods to domestic and/or international customers.
2. Key Segments / Revenue Mix
Without specific company data, the key segments for a textile company in India could typically include:
Yarn (e.g., cotton, synthetic, blended)
Fabric (e.g., grey, processed, dyed, printed)
Garments (readymade apparel for men, women, children)
Home Textiles (e.g., bed linen, bath linen, curtains)
Technical Textiles
A specific breakdown of revenue contribution by these segments is not available.
3. Industry & Positioning
The Indian textile industry is one of the largest globally, characterized by a highly fragmented structure with a mix of organized and unorganized players. It spans the entire value chain from fiber to finished garments. Gravity (India) Ltd. would likely operate within a specific niche or across multiple stages of this value chain. Its positioning relative to peers would depend on factors like its product specialization (e.g., specific fabric types, garment categories), quality focus, cost efficiency, market reach (domestic vs. export), and manufacturing scale. The industry is competitive, with numerous domestic and international players.
4. Competitive Advantage (Moat)
Without specific details, potential competitive advantages for Gravity (India) Ltd. could include:
Cost Efficiency: Leveraging economies of scale, efficient production processes, and access to raw materials to offer competitive pricing.
Product Specialization: Expertise in niche textile products or processes that are harder for competitors to replicate.
Established Relationships: Strong, long-term relationships with suppliers and customers, especially in B2B segments or export markets.
Operational Scale: Significant manufacturing capacity that allows for volume production and potentially better raw material procurement.
Brand Recognition: If the company operates in branded apparel or home textiles, a recognized brand could provide an advantage.
5. Growth Drivers
Key factors that could drive growth for Gravity (India) Ltd. over the next 3-5 years include:
Increasing Domestic Consumption: Growth in India's disposable income and changing fashion trends driving demand for apparel and home textiles.
Export Opportunities: Government initiatives and global demand shifts creating opportunities for Indian textile exports.
Value Chain Integration: Strategic investments to move up the value chain from basic fabrics to finished garments or technical textiles.
Government Support: Schemes like Production Linked Incentive (PLI) for textiles, aimed at boosting manufacturing and exports.
Modernization & Technology Adoption: Investment in advanced machinery and sustainable practices to improve efficiency and meet global standards.
6. Risks
Gravity (India) Ltd. faces several business risks common to the textile sector:
Raw Material Price Volatility: Fluctuations in prices of cotton, synthetic fibers, and dyes can impact profitability.
Fashion & Demand Shifts: Rapid changes in fashion trends and consumer preferences can lead to inventory obsolescence.
Intense Competition: Highly fragmented industry with significant domestic and international competition.
Foreign Exchange Fluctuations: For companies involved in exports or imports, currency volatility can affect revenues and costs.
Labor Costs & Availability: Reliance on labor, with potential for rising wages and labor unrest.
Regulatory & Environmental Compliance: Evolving environmental norms and trade regulations can increase operational costs.
7. Management & Ownership
As is common with many Indian companies, Gravity (India) Ltd. is likely promoter-driven, meaning the founding family or individuals maintain significant control and influence over strategic decisions. The quality of management would depend on their experience in the textile sector, ability to adapt to market changes, and execution capabilities. The ownership structure typically involves the promoter group holding a significant stake, alongside institutional and public shareholders. Specific details on the current promoters or their ownership percentages are not available.
8. Outlook
Gravity (India) Ltd. operates in a sector with significant long-term potential, driven by India's large domestic market, growing disposable incomes, and opportunities in global textile trade. The company stands to benefit from ongoing modernization of the Indian textile industry and governmental support aimed at boosting manufacturing and exports. However, the sector is also inherently cyclical and competitive, subject to raw material price volatility, changing fashion trends, and global economic fluctuations. Sustained growth will depend on the company's ability to maintain cost efficiency, innovate in product development, adapt to evolving consumer preferences, navigate trade dynamics, and manage its supply chain effectively amidst intense competition.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 20 | 60 | 99 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 21 | 60 | 99 |
| Total Expenditure | 2 | 6 | 2 | 1 | 0 | 1 | 0 | 18 | 53 | 90 |
| Operating Profit | -2 | -6 | -1 | -1 | 0 | -1 | 0 | 2 | 6 | 9 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -2 | -6 | -1 | -1 | 0 | -1 | 0 | 2 | 6 | 9 |
| Provision for Tax | 0 | -2 | 0 | 0 | 0 | -0 | 0 | 1 | 2 | 3 |
| Profit After Tax | -2 | -4 | -1 | -1 | 0 | -0 | 0 | 1 | 5 | 7 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | -2 | -4 | -1 | -1 | 0 | -0 | 0 | 1 | 5 | 7 |
| Adjusted Earnings Per Share | -1.9 | -3.7 | -0.6 | -1.4 | 0.3 | -0.3 | 0.1 | 1.4 | 4.4 | 6.7 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 28 | 20 | 24 | 21 | 12 | 17 | 2 | 13 | 10 | 2 | 1 | 179 |
| Other Income | 0 | 0 | 1 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Total Income | 28 | 20 | 25 | 21 | 15 | 17 | 2 | 13 | 10 | 2 | 2 | 180 |
| Total Expenditure | 28 | 20 | 25 | 21 | 13 | 17 | 3 | 13 | 11 | 10 | 4 | 161 |
| Operating Profit | -0 | -0 | 0 | 0 | 2 | 0 | -0 | 0 | -1 | -8 | -2 | 17 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | -1 | 0 | 0 | 2 | -0 | -0 | 0 | -1 | -8 | -2 | 17 |
| Provision for Tax | -0 | -0 | 0 | 1 | 1 | -1 | -0 | 0 | 0 | -2 | -0 | 6 |
| Profit After Tax | -1 | -1 | -0 | -1 | 1 | 0 | -0 | 0 | -1 | -6 | -2 | 13 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -1 | -1 | -0 | -1 | 1 | 0 | -0 | 0 | -1 | -6 | -2 | 13 |
| Adjusted Earnings Per Share | -0.6 | -0.5 | -0 | -0.7 | 1 | 0.3 | -0.3 | 0.1 | -1 | -6 | -2 | 12.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -50% | -57% | -43% | -28% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 139% | 57% | 40% | 20% |
| ROE Average | -65% | -54% | -33% | -15% |
| ROCE Average | -38% | -42% | -26% | -11% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 11 | 11 | 11 | 10 | 11 | 11 | 11 | 11 | 10 | 4 | 2 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 8 | 4 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
| Other Non-Current Liabilities | -0 | -1 | -1 | 0 | 1 | 0 | 0 | 0 | -0 | -2 | -2 |
| Total Current Liabilities | 1 | 4 | 2 | 10 | 4 | 9 | 3 | 3 | 5 | 3 | 3 |
| Total Liabilities | 20 | 18 | 14 | 21 | 18 | 22 | 16 | 15 | 17 | 5 | 4 |
| Fixed Assets | 4 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Other Non-Current Assets | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Total Current Assets | 15 | 14 | 12 | 19 | 15 | 19 | 14 | 13 | 14 | 3 | 2 |
| Total Assets | 20 | 18 | 14 | 21 | 18 | 22 | 16 | 15 | 17 | 5 | 4 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 1 | 0 | 0 | 2 | 2 | 1 | 1 | 0 | 0 |
| Cash Flow from Operating Activities | -2 | 4 | -1 | 1 | -1 | 0 | -1 | 0 | -1 | -0 | -0 |
| Cash Flow from Investing Activities | 2 | 0 | 3 | -0 | 3 | -0 | 0 | 0 | -0 | -0 | 1 |
| Cash Flow from Financing Activities | -0 | -5 | -2 | -0 | -0 | -0 | -0 | 0 | 1 | -0 | -0 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 0 | 1 | -0 | -1 | 0 | -0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 1 | 1 | 0 | 0 | 2 | 2 | 1 | 1 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.62 | -0.52 | -0.04 | -0.67 | 1 | 0.31 | -0.28 | 0.08 | -0.97 | -6.03 | -1.96 |
| CEPS(Rs) | -0.11 | -0.04 | 0.16 | -0.52 | 1.15 | 0.46 | -0.13 | 0.28 | -0.77 | -5.81 | -1.74 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 11.11 | 10.59 | 10.55 | 9.88 | 10.88 | 11.19 | 10.91 | 10.99 | 10.02 | 3.98 | 2.02 |
| Core EBITDA Margin(%) | -0.92 | -2.58 | -3.73 | 0.61 | -7.39 | -0.53 | -12.36 | 1.3 | -7.16 | -344.84 | -223.46 |
| EBIT Margin(%) | -2.31 | -3 | 0.07 | 0.31 | 14.45 | -0.65 | -13.18 | 0.92 | -8.82 | -354.11 | -180.95 |
| Pre Tax Margin(%) | -2.38 | -3.07 | 0.04 | 0.16 | 14.35 | -1.13 | -16.06 | 0.89 | -9.42 | -362.09 | -192.1 |
| PAT Margin (%) | -2.26 | -2.7 | -0.16 | -3.2 | 8.52 | 1.9 | -12.15 | 0.65 | -9.72 | -273.38 | -164.01 |
| Cash Profit Margin (%) | -0.41 | -0.2 | 0.67 | -2.5 | 9.77 | 2.79 | -5.72 | 2.23 | -7.71 | -263.16 | -145.52 |
| ROA(%) | -2.98 | -2.81 | -0.23 | -3.86 | 5.21 | 1.61 | -1.49 | 0.52 | -6.23 | -56.19 | -44.81 |
| ROE(%) | -5.45 | -4.8 | -0.34 | -6.57 | 9.62 | 2.84 | -2.54 | 0.74 | -9.27 | -86.21 | -65.44 |
| ROCE(%) | -3.29 | -3.5 | 0.12 | 0.56 | 14.24 | -0.85 | -2.42 | 0.92 | -7.03 | -81.25 | -38.26 |
| Receivable days | 147.76 | 180.99 | 133.65 | 187.42 | 372.91 | 245.88 | 1636.12 | 226.94 | 276.35 | 692.03 | 84.8 |
| Inventory Days | 34.89 | 60.03 | 46.76 | 41.33 | 24.7 | 23.82 | 264.42 | 68.42 | 125.5 | 428.12 | 0 |
| Payable days | 8.86 | 31.58 | 34.23 | 103.28 | 198.55 | 121.33 | 979.61 | 86.3 | 120.38 | 250.39 | 92.81 |
| PER(x) | 0 | 0 | 0 | 0 | 1.52 | 3.34 | 0 | 62.06 | 0 | 0 | 0 |
| Price/Book(x) | 0.15 | 0.16 | 0.35 | 0.27 | 0.14 | 0.09 | 0.17 | 0.46 | 0.33 | 0.91 | 1.97 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.33 | 0.23 | 0.21 | 0.18 | 0.11 | 0.05 | 1.21 | 0.46 | 0.55 | 2.8 | 5.42 |
| EV/Core EBITDA(x) | -71.87 | -46.27 | 23.7 | 17.32 | 0.68 | 21.58 | -17.93 | 18.48 | -8.02 | -0.81 | -3.34 |
| Net Sales Growth(%) | 1.19 | -29.53 | 21.55 | -10.76 | -44 | 41.18 | -86.04 | 440.62 | -19.77 | -77.98 | -45.75 |
| EBIT Growth(%) | -1194.11 | 8.92 | 102.71 | 319.3 | 2472.07 | -106.3 | -185.09 | 137.84 | -867.23 | -784.11 | 72.28 |
| PAT Growth(%) | -2959.77 | 16.26 | 93.01 | -1740.95 | 248.84 | -68.57 | -189.47 | 128.73 | -1307.78 | -519.37 | 67.46 |
| EPS Growth(%) | -2958.53 | 16.26 | 93 | -1740.95 | 248.84 | -68.57 | -189.47 | 128.73 | -1307.75 | -519.39 | 67.46 |
| Debt/Equity(x) | 0.71 | 0.33 | 0.14 | 0.15 | 0.14 | 0.14 | 0.14 | 0.14 | 0.26 | 0.66 | 1.34 |
| Current Ratio(x) | 15.17 | 3.35 | 5.27 | 1.98 | 3.51 | 2.14 | 3.93 | 5.1 | 2.59 | 1.23 | 0.52 |
| Quick Ratio(x) | 11.69 | 2.65 | 3.79 | 1.82 | 3.49 | 1.91 | 3.55 | 3.74 | 1.93 | 0.54 | 0.52 |
| Interest Cover(x) | -34.83 | -40.46 | 2.37 | 2 | 149.57 | -1.34 | -4.58 | 25.92 | -14.83 | -44.4 | -16.22 |
| Total Debt/Mcap(x) | 4.66 | 2.05 | 0.41 | 0.58 | 1 | 1.45 | 0.83 | 0.3 | 0.79 | 0.72 | 0.68 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 24.21 | 24.21 | 24.21 | 24.21 | 24.21 | 23.37 | 9.9 | 5.99 | 5.99 | 6.05 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 75.79 | 75.79 | 75.79 | 75.79 | 75.79 | 76.63 | 90.1 | 94.01 | 94.01 | 93.95 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.21 | 0.09 | 0.05 | 0.05 | 0.05 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.69 | 0.81 | 0.85 | 0.85 | 0.85 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -50% | -57% | -43% | -28% |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +139% | +57% | +40% | +20% |
| ROE Average | -65% | -54% | -33% | -15% |
| ROCE Average | -38% | -42% | -26% | -11% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 24.21 | 24.21 | 24.21 | 24.21 | 24.21 | 23.37 | 9.9 | 5.99 | 5.99 | 6.05 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 75.79 | 75.79 | 75.79 | 75.79 | 75.79 | 76.63 | 90.1 | 94.01 | 94.01 | 93.95 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.21 | 0.09 | 0.05 | 0.05 | 0.05 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.69 | 0.81 | 0.85 | 0.85 | 0.85 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
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