Subsidiary7 May 2026, 07:41 pm
Gravita India to Close Recycling Infotech LLP Subsidiary
AI Summary
Gravita India Ltd has announced the closure of its subsidiary, Recycling Infotech LLP, following a decision by the Board of Directors on May 07, 2026. The company also approved the establishment of a copper recycling plant in Mandvi, Gujarat, with an approximate capital expenditure of ₹160 Crores. Additionally, M/s Deloitte Touche Tohmatsu India LLP (Deloitte) has been appointed as the new Internal Auditor for the financial year 2026-27, replacing M/s PricewaterhouseCoopers Services LLP (PwC).
Key Highlights
- Gravita India to close Recycling Infotech LLP subsidiary.
- New copper recycling plant approved in Mandvi, Gujarat with ₹160 Cr capex.
- Deloitte appointed as the new Internal Auditor for FY 2026-27.
- PwC ceases to be the Internal Auditor due to tenure completion.
- Subsidiary's contribution to total turnover was NIL.
Price Impact
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