Reporting Entity
Almondz Global Securities Limited ('the Company') is a company
domiciled in India, with its registered office situated at Level 5,
Grande Palladium, 175, CST Road, Off BKC, Kalina, Santacruz (East)
Mumbai 400098. The Company was incorporated in India on June
28, 1994. The Company is involved in the business of providing
professional advisory and consultancy services in the areas of equity
and debt capital markets, private equity, infrastructure advisory,
equity broking & wealth management, debt portfolio management
services and distribution.
1. Basis of preparation
(i) Statement of compliance with Indian Accounting
Standards:
These Ind AS financial statements ("the Financial Statements")
have been prepared in accordance with the Indian Accounting
Standards ('Ind AS’) as notified by Ministry of Corporate Affairs
('MCA') under Section 133 of the Companies Act, 2013 ('Act)
read with the Companies (Indian Accounting Standards) Rules,
2015, as amended and other relevant provisions of the Act.
The Company has uniformly applied the accounting policies
for all the periods presented in these financial statements.
The financial statements for the year ended March 31, 2025
were authorised and approved for issue by the Board of
Directors on May 26, 2025.
The significant accounting policies adopted for preparation
and presentation of these financial statement are included in
Note 2. These policies have been applied consistently applied
to all the financial year presented in the financial statements
except where newly issues accounting standard is initially
adopted or revision to the existing accounting standard
requires a change in the accounting policy hitherto in use.
The Balance Sheet, the Statement of Changes in Equity, the
Statement of Profit and Loss and disclosures are presented in
the format prescribed under Division III of Revised Schedule
III of the companies Act, as amended from time to time that
are required to comply with Ind AS. The Statement of Cash
Flows has been presented as per the requirements of Ind AS 7
Statement of Cash Flow.
The financial statements have been prepared under the
historical cost convention and accrual basis, except for certain
financial assets and liabilities, defined benefit-plan liabilities
and share-based payments being measured at fair value.
(ii) Financial and non-financial classification
All assets and liabilities have been classified and presented on
the basis of liquidity as financial or non-financial as permitted
by Division III of Schedule III to the Act.
(iii) Functional and presentation currency
These financial statements are presented in Indian Rupees (^),
which is also the Company's functional currency. All amounts
have been rounded-off to the nearest lacs, unless otherwise
indicated.
(iv) Basis of measurement
The financial statements have been prepared on the historical
cost basis except for the following items:
(v) Use of estimates and judgements
The preparation of the Company's financial statements
requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the related disclosures.
Actual results may differ from these estimates.
Significant management judgements
Recognition of deferred tax assets - The extent to
which deferred tax assets can be recognised is based on an
assessment of the probability of the future taxable income
against which the deferred tax assets can be utilised.
Business model assessment - The Company determines
the business model at a level that reflects how groups of
financial assets are managed together to achieve a business
objective. This assessment includes judgement reflecting
all relevant evidence including how the performance of
the assets is evaluated and their performance measured,
the risks that affect the performance of the assets and how
these are managed and how the managers of the assets
are compensated. The Company monitors financial assets
measured at amortised cost that are derecognised prior to
their maturity to understand the reason for their disposal
and whether the reasons are consistent with the objective
of the business for which the asset was held. Monitoring is
part of the Company's continuous assessment of whether the
business model for which the remaining financial assets are
held continues to be appropriate and if it is not appropriate
whether there has been a change in business model and
accordingly prospective change to the classification of those
assets are made.
Evaluation of indicators for impairment of assets - The
evaluation of applicability of indicators of impairment of
assets requires assessment of several external and internal
factors which could result in deterioration of recoverable
amount of the assets.
Classification of leases - Ind AS 116 requires lessees to
determine the lease term as the non-cancellable period of
a lease adjusted with any option to extend or terminate the
lease, if the use of such option is reasonably certain. The
Company makes an assessment on the expected lease term
on a lease-by-lease basis and thereby assesses whether it is
reasonably certain that any options to extend or terminate the
contract will be exercised. In evaluating the lease term, the
Company considers factors such as any significant leasehold
improvements undertaken over the lease term, costs
relating to the termination of the lease and the importance
of the underlying asset to the Company's operations taking
into account the location of the underlying asset and the
availability of suitable alternatives. The lease term in future
periods is reassessed to ensure that the lease term reflects the
current economic circumstances. After considering current
and future economic conditions, the Company has concluded
that no changes are required to lease period relating to the
existing lease contract.
Expected credit loss (ECL) as per Ind AS 109- The measurement
of expected credit loss allowance for financial assets measured at
amortised cost requires use of complex models and significant
assumptions about future economic conditions and credit
behaviour (e.g. likelihood of customers defaulting and resulting
losses). The Company makes significant judgements regarding
the following while assessing expected credit loss:
• Determining criteria for significant increase in credit risk;
• Establishing the number and relative weightings of forward¬
looking scenarios for each type of product/market and the
associated ECL; and
• Establishing groups of similar financial assets for the purposes
of measuring ECL.
Provisions - At each balance sheet date, based on the management
judgment, changes in facts and legal aspects, the Company
assesses the requirement of provisions against the outstanding
contingent liabilities. However, the actual future outcome may be
different from this judgement.
Significant estimates
Useful lives of depreciable/amortisable assets - Management
reviews its estimate of useful lives, residual values and method of
depreciation of depreciable/amortisable assets at each reporting
date, based on the expected utility of the assets. Uncertainties in
these estimates relate to technical and economic obsolescence
that may change the utility of assets.
Defined benefit obligation (DBO) - Management's estimate
of the DBO is based on several underlying assumptions such as
standard rates of inflation, mortality, discount rate and anticipation
of future salary increases. Variation in these assumptions may
significantly impact the DBO amount and the annual defined
benefit expenses.
Fair value measurements - Management applies valuation
techniques to determine the fair value of financial instruments
(where active market quotes are not available). This involves
developing estimates and assumptions consistent with how
market participants would price the instrument.
1.1 Summary of significant accounting policies
(i) Cash and cash equivalents
Cash and cash equivalents consist of cash, bank balances in
current and short term highly liquid investments that are
readily convertible to cash with original maturities of three
months or less at the time of purchase.
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