K PROVISION AND CONTINGENT LIABILITIES
Provisions: Provisions are recognised when there is a present obligation as a result of a past event, it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a
reliable estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance sheet date and are not discounted to its present value.
Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain
future events not wholly within the control of the company or a present obligation that arises from past events where
it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made.
L CASH AND CASH EQUIVALENTS
In the Statement of Cash Flow, cash and cash equivalents includes cash on hand, demand and short term deposits
with banks, other short-term highly liquid investments with original maturities of three months or less.
M FINANCIAL ASSETS AT AMORTISED COST
Financial assets are subsequently measured at amortised cost if these financial assets are held within a business
whose objective is to hold these assets in order to collect contractual cash flows and 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.
N FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
Financial assets are measured at fair value through other comprehensive income if these financial assets are held
within a business whose objective is achieved by both collecting contractual cash flows and selling financial assets
and a contractual terms of the financial assets give rise on the specified dates to cash flows that are solely payment
of the principal and interest on the principal amount outstanding.
O FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS
Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair
value through other comprehensive income on initial recognition. The transaction costs directly attributable to the
acquisition of assets and liabilities at fair value through profit and loss are immediately recognised in the statement
of profit and loss.
P FINANCIAL LIABILITIES
Financial liabilities are measured at amortised cost using the effective interest method, if tenure repayment of such
liability exceeds one year.
Q EQUITY INSTRUMENTS
An equity instrument is a contract that evidences residual interest in the assets of the company after deducting all
of its liabilities. The Company recognises equity instruments at proceeds received net off direct issue cost.
R RECLASSIFICATION OF FINANCIAL ASSETS
The Company determines classification of the financial assets and liabilities on initial recognitions. After initial
recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities. For
financial assets which are debt instruments, a reclassification is made only if there is a change in the business
model for managing those assets. Changes to the business model are expected to be infrequent. The Company’s
senior management determines change in the business model as a result of external or internal changes which are
significant to the company’s operations. Such changes are evident to external parties. A change in the business
model occurs when a company either begins or ceases to perform an activity that is significant to its operations. If
the Company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date
which is the first day of the immediately next reporting period following the change in business model. The Company
does not restate any previously recognized gains, losses (including impairment gains and losses) or interest.
S OFFSETTING OF FINANCIAL INSTRUMENTS
Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet if there is currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize
the assets and settle the liabilities simultaneously.
T LEASES:
As a Lessee
The Company’s lease asset classes primarily consist of leases for land and buildings. The Company assesses
whether a contract contains a lease, at inception of a contract. 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.
To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses
whether:
• the contract involves the use of an identified asset;
• the Company has substantially all of the economic benefits from use of the asset through the period of the
lease; and
• the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use asset (“ROU”) and a corresponding
lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or
less (short-term leases) and low value leases. For these short-term and low value leases, the Company recognizes
the lease payments as an operating expense on a straight-line basis over the term of the lease.
The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct
costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and
impairment losses. Certain lease arrangements include the options to extend or terminate the lease before the end
of the lease term. ROU assets and lease liabilities includes these options when it is reasonably certain that they
will be exercised.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the
lease term and useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever
events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose
of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use)
is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent
of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit
(CGU) to which the asset belongs.
The lease liability is initially measured at amortized cost at the present value of the future lease payments. The
lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the
incremental borrowing rates in the country of domicile of these leases. Lease liabilities are remeasured with a
corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will
exercise an extension or a termination option.
Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been
classified as financing cash flows.
Short term leases
The Company applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that
have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also
applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease
payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis
over the lease term.
U FUNCTIONAL AND PRESENTATION CURRENCY
Indian Rupees is the functional and presentation currency
30 The Company does not have any investment property, hence related disclosure is not required.
31 Details of Benami Property held - No proceeding has been initiated or pending against the company for holding any
benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
32 Wilful Defaulter - The company is not declared wilful defaulter by any bank or financial Institution or other lender during
the year.
33 The Company has made not made any borrowings from banks on the basis of security of current assets.
34 Relationship with Struck off Companies - During the year, the company has not carried out any transactions with
companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
35 As the Company has employed less than prescribed employees, the provisions of the Payment of Gratuity Act, 1972,
are not applicable. Additionally, the Company does not have a formal policy for leave encashment. Consequently, no
provisions for gratuity and leave encashment have been recognized in these financial statements.
37 Utilisation of Borrowed funds and share premium: The company has not advanced or loaned or invested funds
(either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the
Intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf
of the Ultimate Beneficiaries
38 Undisclosed income - There is no case of search or survey of any other cases related to income surrendered or
disclosed in any tax assessments under the Income Tax Act, 1961.
39 The company has not invested in Crypto Currency or Virtual Currency, hence related details are not provided
40 Preiious years’ figures have been re-grouped / re-arranged wherever necessary to make comparable.
The accompanying Notes are an integral part of these Financial Statements.
In terms of our report of even date.
For Gautam N Associates For and on behalf of the Board of Directors
Chartered Accountants Acrow India Limited
Firm Registration No.: 103117W CIN: L46411MH1960PLC011601
Sd/- Sd/- Sd/-
Gautam Nandawat Gopal Agrawal Shyam Agrawal
Partner Managing Director Whole-Time Director
Membership No.:032742 DIN: 02160569 DIN: 02192098
UDIN:25032742BMJJLE2079
Sd/- Sd/-
Place: Chhatrapati Sambhajinagar Ankur Chakraborty Arvind Kumar Modi
Date: 30th May 2025 Chief Financial Officer Company Secretary
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