Jaipur, January 31, 2025 – Gravita India Ltd. (NSE: GRAVITA, BSE: 533282) has disclosed that the Central Ground Water Authority has imposed a penalty of ₹2,00,000 on its unit in Mundra, Gujarat.
Details of the Penalty
According to the company’s filing:- Authority Imposing the Penalty: Office of Central Ground Water Authority.
- Nature of Action: A financial penalty of ₹2,00,000.
- Date of Order: January 29, 2025.
- Date of Receipt: January 30, 2025.
- Reason for Penalty: The specific violation has not been defined yet, and the company is in the process of determining the basis for the penalty.
Financial and Operational Impact
Gravita India stated that the penalty does not have a material impact on the company's financials or operations, except for the monetary fine imposed.Next Steps
The company is actively seeking clarification regarding the nature of the violation. Investors and stakeholders will be awaiting further updates as Gravita India engages with regulatory authorities.This development highlights the increasing regulatory scrutiny in environmental compliance and groundwater usage, an area that is gaining significance for industrial units across India.