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Company Information

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DELTA CORP LTD.

21 October 2025 | 12:00

Industry >> Amusement Parks/Recreation

Select Another Company

ISIN No INE124G01033 BSE Code / NSE Code 532848 / DELTACORP Book Value (Rs.) 95.07 Face Value 1.00
Bookclosure 08/08/2025 52Week High 131 EPS 9.30 P/E 8.54
Market Cap. 2125.30 Cr. 52Week Low 77 P/BV / Div Yield (%) 0.83 / 1.57 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2025-03 

1C. Material accounting policies

a) Revenue Recognition

Revenue is recognised upon transfer of control
of promised products or services to customers
in an amount that reflects the consideration the
Company expects to receive in exchange for
those products or services. Revenue comprises
the following elements:

Revenue from the sale of services includes:

Revenue from Casino: Casino gaming revenues

are all amounts wagered in casino less amounts
paid as winning to players of casino games.
Gaming revenue is recorded based on net gain
/ loss at the end of each day. Income from Slot
Machines is accounted for on the basis of actual
collection in each respective machine. Revenue
is recognised at the transaction price that is
allocated to the performance obligation, net of
amount collected on behalf of third parties such
as Goods and Service Tax (GST).

Revenue from Hospitality: Revenue is recognised
at the transaction price that is allocated to the
performance obligation. Revenue includes
room revenue and banquet services which is
recognised once the rooms are occupied and
banquet services have been provided as per
the contract with the customer.

Revenue from Sale of Products

Revenue from sales of products is recognised
at the transaction price that is allocated to the
performance obligation. This amount excludes
taxes or duties collected on behalf of the
government. Revenue includes sale of food
and beverage and allied services relating
to entertainment and hospitality operations.
Revenue from sale of food and beverage is
recognised at the point of sale.

Dividend and interest income

Dividend income from investments is recognised
when the shareholder’s right to receive payment
has been established (provided that it is
probable that the economic benefits will flow to
the Company and the amount of income can be
measured reliably).

Interest income from a financial asset is
recognised when it is probable that the
economic benefits will flow to the company
and the amount of income can be measured
reliably. Interest income is accrued on a timely
basis, by reference to the Amortized cost and
at the effective interest rate applicable, which
is the rate that exactly discounts estimated
future cash receipts through the expected life
of the financial asset to that asset’s net carrying
amount on initial recognition.

b) Property, plant and equipment (including
Capital work-in-progress)

Property, plant and equipment are stated at cost
less accumulated depreciation and impairment
losses, if any. Cost includes purchase price
and expenditure directly attributable to bringing
assets into working condition for its intended
use. Freehold land and capital work in progress
are carried at cost, less accumulated impairment
losses, if any.

Subsequent costs are included in the asset’s
carrying amount or recognised as a separate
asset, as appropriate, only when it is probable
that future economic benefits associated with
the item will flow to the Company and the cost of
the item can be measured reliably. The carrying
amount of any component accounted for as a
separate asset is derecognised when replaced.
All other repairs and maintenance expenses
are charged to the Statement of Profit and Loss
during the reporting period in which they are
incurred.

Depreciation on property, plant and equipment
is provided under the straight line method
over the useful lives of assets as prescribed
in Schedule II to the Act, and management
believes that useful life of assets are same as
those prescribed in Schedule II to the Act.

The residual values are not more than 5%
of the original cost of the asset. The assets
residual values and useful lives are reviewed,
and adjusted if appropriate, at the end of each
reporting period.

Gains or losses arising from derecognisation of
property, plant and equipment are measured as
difference between the net disposal proceeds
and the carrying amount of the assets and are
recognised in the Statement of Profit and Loss
when the asset is derecognised.

c) Intangible assets (Including Intangible Assets
under Development)

Intangible Assets with finite useful lives that are
acquired separately are stated at acquisition
cost, net of recoverable taxes, trade discount
and rebate less accumulated Amortization and
accumulated impairment losses, if any. Such cost
includes purchase price and any expenditure
directly attributable to bringing the asset to its
working condition for the intended use.

Subsequent costs are included in the asset’s
carrying amount or recognised as a separate
asset, as appropriate, only when it is probable
that future economic benefits associated with
the item will flow to the Company and the cost of
the item can be measured reliably.

An intangible asset is derecognised on disposal,
or when no future economic benefits are
expected from use or disposal. Gains or losses
arising from derecognition of an intangible asset,
measured as the difference between the net
disposal proceeds and the carrying amount of
the asset and are recognised in the statement of
profit and loss when the asset is derecognised.

Intangible assets are Amortized over the period
of three years on a straight line basis from date
they are available for use. The estimated useful
life of an identifiable intangible asset is based
on number of factors including the effect of
obsolescence, demand, competition and other
economic factors and level of maintenance
expenditures required to obtain the expected
future cash flows from the assets.

d) Leases

A contract is, or contains, a lease if the contract
conveys the right to control the use of an
identified asset for a period of time in exchange
for consideration.

Company as a lessee

The Company accounts for each lease
component within the contract as a lease

separately from non-lease components of the
contract and allocates the consideration in the
contract to each lease component on the basis
of the relative standalone price of the lease
component and the aggregate standalone price
of the non-lease components.

The Company recognises right-of-use asset
representing its right to use the underlying asset
for the lease term at the lease commencement
date. The cost of the right-of-use asset measured
at inception shall comprise of the amount of
the initial measurement of the lease liability
adjusted for any lease payments made at or
before the commencement date less any lease
incentives received, plus any initial direct costs
incurred and an estimate of costs to be incurred
by the lessee in dismantling and removing the
underlying asset or restoring the underlying
asset or site on which it is located. The right-of-
use asset is subsequently measured at cost less
any accumulated depreciation, accumulated
impairment losses, if any and adjusted for any
remeasurement of the lease liability. The right-of-
use asset is depreciated using the straight-line
method from the commencement date over the
shorter of lease term or useful life of right-of-use
asset. The estimated useful lives of right-of-use
assets are determined on the same basis as
those of property, plant and equipment. Right-of-
use assets are tested for impairment whenever
there is any indication that their carrying amounts
may not be recoverable. Impairment loss, if any,
is recognised in the statement of profit and loss.

The Company measures the lease liability at
the present value of the lease payments that
are not paid at the commencement date of
the lease. The lease payments are discounted
using the interest rate implicit in the lease, if
that rate can be readily determined. If that rate
cannot be readily determined, the Company
uses incremental borrowing rate. For leases
with reasonably similar characteristics, the
Company, on a lease-by-lease basis, may adopt
either the incremental borrowing rate specific
to the lease or the incremental borrowing rate

for the portfolio as a whole. The lease payments
shall include fixed payments, variable lease
payments, residual value guarantees, exercise
price of a purchase option where the Company
is reasonably certain to exercise that option and
payments of penalties for terminating the lease,
if the lease term reflects the lessee exercising an
option to terminate the lease. The lease liability
is subsequently remeasured by increasing the
carrying amount to reflect interest on the lease
liability, reducing the carrying amount to reflect
the lease payments made and remeasuring the
carrying amount to reflect any reassessment
or lease modifications or to reflect revised in¬
substance fixed lease payments. The Company
recognises the amount of the re-measurement
of lease liability due to modification as an
adjustment to the right-of-use asset and
statement of profit and loss depending upon
the nature of modification. Where the carrying
amount of the right-of-use asset is reduced
to zero and there is a further reduction in the
measurement of the lease liability, the Company
recognises any remaining amount of the re¬
measurement in statement of profit and loss.

The Company has elected not to apply the
requirements of Ind AS 116 - Leases to short¬
term leases of all assets that have a lease term
of 12 months or less and leases for which the
underlying asset is of low value. The lease
payments associated with these leases are
recognised as an expense on a straight-line
basis over the lease term.

Company as a lessor

At the inception of the lease the Company
classifies each of its leases as either an
operating lease or a finance lease. The Company
recognises lease payments received under
operating leases as income on a straight-line
basis over the lease term. In case of a finance
lease, finance income is recognised over the
lease term based on a pattern reflecting a
constant periodic rate of return on the lessor’s
net investment in the lease. When the Company
is an intermediate lessor it accounts for its
interests in the head lease and the sub-lease
separately. It assesses the lease classification
of a sub-lease with reference to the right-of-
use asset arising from the head lease, not with
reference to the underlying asset. If a head lease
is a short-term lease to which the Company
applies the exemption described above, then it
classifies the sub-lease as an operating lease.

If an arrangement contains lease and non-lease
components, the Company applies Ind AS 115
- Revenue from contracts with customers to
allocate the consideration in the contract.

e) Inventories

Consumables (food and beverage), stores and
spares are valued at lower of cost computed
on weighted average basis or net realisable
value after providing cost of obsolescence, if
any. The cost of inventories comprises cost of
purchase and other costs incurred in bringing
the inventories to their present location and
condition. Net realisable value is estimated
selling price in ordinary course of business less
the estimated cost necessary to make the sale.
Land inventory is recorded at lower of cost or
market value.

f) Investment in subsidiaries, associate and
joint venture

The Company has accounted for its investments
in subsidiaries, associates and joint ventures at
cost less impairment loss, if any, except where
investments accounted for at cost shall be
accounted for in accordance with Ind AS 105,
non-current assets held for sale and discontinued
operations when they are classified as held for
sale.

g) Segment Reporting

Operating segments are reported in a manner
consistent with the internal reporting provided
to the chief decision maker. Based on the
"management approach” as defined in Ind
AS 108 - Operating Segments, the Chief
Operating Decision Maker (CODM) evaluates

the Company’s performance and allocates
resources based on an analysis of various
performance indicators by business segments.
Accordingly, information has been presented
along with Business Segments.

h) Employee Benefits

Defined Contribution Plan:

Contribution payable to recognized provident
fund, ESIC which are substantially defined
contribution plan, is recognized as expense in
the Statement of Profit and Loss, as they are
incurred.

Defined Benefit Plan:

For defined plans in the form of gratuity, the
cost of providing benefits is determined using
the projected unit credit method, with actuarial
valuations being carried out at the end of each
annual reporting period. Remeasurement,
comprising actuarial gains and losses, the effect
of the changes to the asset ceiling (if applicable)
and the return on plan assets (excluding net
interest), is reflected immediately in the balance
sheet with a charge or credit recognized in other
comprehensive income in the period in which
they occur.

All expenses represented by current service
cost, past service cost, if any, and net interest
on the defined benefit liability (asset) are
recognized in the Statement of Profit and Loss.
Remeasurements of the net defined benefit
liability (asset) comprising actuarial gains
and losses and the return on the plan assets
(excluding amounts included in net interest
on the net defined benefit liability/asset), are
recognized in Other Comprehensive Income.
Such remeasurements are not reclassified to the
Statement of Profit and Loss in the subsequent
periods. The retirement benefit obligation
recognized in the Balance Sheet represents
the actual deficit or surplus in the Company’s
defined benefit plans. Any surplus resulting from
this calculation is limited to the present value of
any economic benefits available in the form of

refunds from the plans or reductions in future
contributions to the plans.

Other Long-Term Benefits:

Company’s liability towards long-term
compensated absences is determined by
independent actuaries, using the projected unit
credit method.

i) Shares Based Payments Arrangements

Equity-settled share-based payments to
employees and others providing similar services
are measured at the fair value of the equity
instruments at the grant date. Details regarding
the determination of the fair value of equity-
settled share-based transactions are set out in
Note No. 51 to these financial statements.

The fair value determined at the grant date of
the equity-settled share-based payments is
expensed on a straight-line basis over the vesting
period, based on the company’s estimate of
equity instruments that will eventually vest, with
a corresponding increase in equity. At the end
of each reporting period, the company revises
its estimate of the number of equity instruments
expected to vest. The impact of the revision
of the original estimates, if any, is recognised
in the Statement of Profit and Loss such that
the cumulative expense reflects the revised
estimate, with a corresponding adjustment to
the equity-settled employee benefits reserve.

The impact of modification of share based
payment arrangement, if any, resulting in
incremental fair value, i.e. the difference between
the fair value of the modified equity instrument
and that of the original equity instrument, both
estimated as at the date of the modification is
expensed over the remaining vesting period in
the statement of profit and loss account.

The Company has granted Employee Stock
Appreciation Rights (ESAR) under Delta Corp
ESAR 2019 scheme at fair value on grant
date, measured at option pricing model. It is
recognised in the statement of profit and loss
account as employee compensation expenses
over the vesting period. The corresponding
adjustment is given in share option outstanding
account.

The scheme mentions that ESAR will be settled
by way of allotment of shares unless otherwise
intended to settle by cash at the discretion of
nomination, remuneration and compensation
committee. The consideration for fractional
shares will be settled in cash.

The dilutive effect of outstanding options is
reflected as additional share dilution in the
computation of diluted earnings per share.

j) Income Tax

The tax expense for the period comprises
current and deferred tax. Tax is recognised in
the Statement of Profit and Loss, except to the
extent that it relates to items recognised in the
other comprehensive income or in equity, in
which case, the tax is also recognised in other
comprehensive income or equity.

Current Tax

Current tax assets and liabilities are measured
at the amount expected to be recovered from
or paid to the taxation authorities, based on tax
rates and laws that are enacted or substantively
enacted at the Balance sheet date. The tax
liabilities in presented as net of advance tax for
that particular assessment year.

Deferred Tax

Deferred tax is recognised on temporary
differences arising between the tax bases of
assets and liabilities used in the computation of
taxable profit and their carrying amount in the
financial statement. Deferred tax assets and
liabilities are measured using tax rates (and
laws) that have been enacted or substantively
enacted by the end of the reporting period. The
carrying amount of deferred tax liabilities and
assets are reviewed at the end of each reporting
period.

Deferred tax assets are recognised for all
deductible temporary differences and unused
tax losses, only if it is probable that future
taxable amounts will be available to utilise those
temporary differences and losses.

Deferred tax assets and liabilities are offset
when there is a legally enforceable right to
offset current tax assets and liabilities and when
the deferred tax balances relate to the same
taxation authority. Current tax assets and tax
liabilities are off set where the Company has a
legally enforceable right to offset and intends
either to settle on a net basis, or to realise the
asset and settle the liability simultaneously.

k) Financial instruments

A financial instrument is any contract that gives
rise to a financial asset in one entity and a
financial liability or equity instrument in another
entity.

I. Financial Assets

i) Initial recognition and measurement

All financial assets other than trade
receivables are initially recognised at
fair value. Transaction costs that are
directly attributable to the acquisition
or issue of financial assets, which are
not at fair value through profit and
loss, are adjusted to the fair value on
initial recognition. Purchase and sale
of financial assets are recognised
using trade date accounting.

ii) Subsequent measurement

a) Financial assets carried at
Amortized cost (AC)

A financial asset is measured
at Amortized cost if it is held
within a business model whose
objective is to hold the asset

in order to collect contractual
cash flows and the contractual
terms of the financial asset give
rise on specified dates to cash
flows that are solely payments
of principal and interest on the
principal amount outstanding.

b) Financial assets at fair value
through other comprehensive
income (FVTOCI)

A financial asset is measured
at FVTOCI if it is held within
a business model whose
objective is achieved by both
collecting contractual cash
flows and selling financial
assets and the contractual
terms of the financial asset give
rise on specified dates to cash
flows that are solely payments
of principal and interest on the
principal amount outstanding.

c) Financial assets at fair value
through profit or loss (FVTPL)

A financial asset which is not
classified in any of the above
categories are measured at
FVTPL.

iii) Investment in subsidiaries, associate
and joint venture

The Company has accounted for
its investments in subsidiaries,
associates and joint ventures at cost
less impairment loss, if any, except
where investments accounted for
at cost shall be accounted for in
accordance with Ind AS 105, non¬
current assets held for sale and
discontinued operations when they
are classified as held for sale.

iv) Other Equity and Mutual Fund
Investments

All other equity and mutual fund
investments are measured at
fair value, with value changes
recognised in the Statement of Profit
and Loss, except for those equity
investments for which the Company
has elected an irrevocable option to
present the value changes in ‘Other
Comprehensive Income’.

v) Impairment of Financial Assets

In accordance with Ind AS 109, the
company applies the expected credit
loss model for evaluating impairment
of financial assets other than those
measured at fair value through profit
and loss (FVTPL).

Expected credit losses are measured
through a loss allowance at an
amount equal to:

• The twelve months expected
credit losses (expected credit
losses that result from those
default events on the financial
instrument that are possible
with twelve months after the
reporting date); or

• Full lifetime expected credit
losses (expected credit losses
that result from all possible
default events over the life of the
financial instrument)

For trade Receivables Company
applies ‘simplified approach’
which requires expected
lifetime losses to be recognises
from initial recognition of the
receivables. The Company
uses historical default rates
to determine impairment
loss on the portfolio of trade

receivables. The Company will
adjust the historical credit loss
experience with forward-looking
information. At every reporting
date, the historical observed
default rates are updated and
changes in the forward-looking
estimates are considered.

For other assets, the Company
uses twelve months Expected
Credit Loss model (ECL) to
provide for impairment loss
where there is no significant
increase in credit risk. If there is
significant increase in credit risk
full lifetime ECL is used.

II. Financial Liabilities

i) Initial recognition and measurement

All financial liabilities are recognised
initially at fair value and, in the case
of loans, net of directly attributable
transaction costs.

ii) Subsequent measurement

a) Financial liabilities at FVTPL

Financial liabilities at FVTPL
include financial liabilities
held for trading and financial
liabilities designated upon initial
recognition as FVTPL. Financial
liabilities are classified as held
for trading if they are incurred
for the purpose of repurchasing
in the near term. Gains or losses
on liabilities held for trading are
recognised in the Statement of
Profit and Loss.

Financial guarantee contracts
issued by the Company are
those contracts that require
a payment to be made to
reimburse the holder for a loss

it incurs because the specified
debtor fails to make a payment
when due in accordance with
the terms of a debt instrument.
Financial guarantee contracts
are recognised initially as a
liability at fair value, adjusted
for transaction costs that are
directly attributable to the
issuance of the guarantee.
Subsequently, the liability is
measured at the higher of
the amount of loss allowance
determined as per impairment
requirements of Ind AS 109
and the amount recognised
less cumulative Amortization.
Amortization is recognised as
finance income in the Statement
of Profit and Loss.

For trade and other payables
maturing within one year from
the balance sheet date, the
carrying amounts approximate
fair value due to the short term
maturity of these instruments.

b) Financial liabilities at Amortized
cost

After initial recognition, interest¬
bearing loans are subsequently
measured at Amortized cost
using the effective interest rate
method.

Where the terms of a financial
liability are re-negotiated and
the Company issues equity
instruments to a creditor to
extinguish all or part of the
liability (debt for equity swap),
a gain or loss is recognised
in the Statement of Profit and
Loss; measured as a difference

between the carrying amount
of the financial liability and the
fair value of equity instrument
issued.

III. Offsetting financial instruments

Financial assets and financial liabilities
are offset and the net amount is
reported in the balance sheet if there
is a currently enforceable legal right to
offset the recognised amounts and there
is an intention to settle on a net basis, to
realise the assets and settle the liabilities
simultaneously.