Gravity (India) Limited
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BSE Code:
532015
NSE Code:
GRAVITY
Business Profile
Business Profile
Gravity India (GRAVITY) was incorporated in 1987 as Gravity Silk Mills. The main objective of the company was to carry on the business of weaving of synthetic fabrics.
It`s first plant for manufacturing fabrics on looms was established at village Masat, Silvassa, Union Territory of Dadra & Nagar Haveli, from where commercial production commenced in the year 1989. The second plant for manufacturing fabrics on fully automatic imported Sulzer weaving machines was established in village Khutali, Union Territory of Dadra & Nagar Haveli, from where commercial production commenced in April 1998.
The company started exports of fabrics to overseas markets in the year 2000 in big quantity at a good price. The company also started the activities of manufacturing and exports of readymade garments to overseas markets. The company`s principle business comprises of manufacturing and marketing various textile products. It is engaged in the business of manufacturing, trading and exports of various textile products. The major products includes fabrics like suiting, shirting, dress materials, industrial fabrics and readymade garments like shirts, trousers, bermudas, T-shirts, baba suits, ladies nighties, kaftans, kurtas, industrial suits, ..etc. The plant for manufacturing fabrics is euipped with fully automatic imported Sulzer machines.
The company`s registered office is located in Mumbai. The company has an installed capacity of 48 Sulzer automatic weaving machines with a capacity of 350,000 meters per month. The products, under the brand name Gravity, are exported to the countries of the Middle East, America, Europe and Africa.
Financials
Gravity India registered a steep drop of 45.3% in net profit of Rs 1.63 million for the quarter ended June 2007 from a profit of Rs 2.98 million for the quarter ended June 2006.
Net sales rose 17.33% to Rs 58.35 million for the quarter ended June 2007 from Rs 49.73 million for the quarter ended June 2006.
Total income rose 16.80% to Rs 58.54 million for the quarter ended June 2007 from Rs 50.12 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 0.18 for the quarter ended June 2007.
Future Plans
The company now intends to enter into the business of retailing, building, construction and entertainment. With the opening of the global market and setting new business avenues which are more profitable, the company desires to explore business activities beside the present textile business.The company is planning to launch a chain of stores in leading cities of India at various locations to built up its own brand Gravity and sell the readymade garments, upholstery fabrics, curtain cloth along with suiting and shirting fabrics.