Acrow (India) Ltd. — Audit Report / Information 2026

May 28, 2026

ACROW

ACROW INDIA LIMITED

www.acrowindia.com

CIN: L46411MH1960PLC011601

Registered Office Address:

Plot No. T-27, STPI Park,

M.I.D.C., Chikalthana,

Chhatrapati Sambhaji Nagar,

Maharashtra, India – 431001.

Phone: +91 7900181470

Email: csacrowindialtd@gmail.com

Date: 28th May, 2026.

To,

The General Manager,

BSE Limited,

1st Floor, P. J. Towers,

Dalal Street, Fort, Mumbai – 400001.

Sub: Outcome of Board Meeting

Ref: Scrip Code - Acrow India Limited - 513149

Dear Sir,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you about the outcome of the Meeting of the Board of Directors of the Company held today i.e. 28th May, 2026 as under:

1. The Board has approved and taken on record the Audited Standalone Balance Sheet & Profit & Loss Account for the quarter and financial year ended 31st March, 2026.
2. The Board approved the appointment of M/s. M K Ghatiya & Associates, Company Secretaries as the Internal Auditor of the Company for the Financial Year 2026-27.

The Board Meeting commenced at 5.00 p.m. and concluded at 7.00 p.m.

Kindly take the above information on record and oblige.

Thanking You.

Yours faithfully,

For Acrow India Limited

Arvind Kumar Modi

Arvind Kumar Modi

Company Secretary & Compliance Officer

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CA

Gautam N Associates

Chartered Accountants

30, GNA House, Behind ABC Complex, Manmandir Travels Lane, Adalat Road, Aurangabad - 431 001

Independent Auditors' Report

To,

The Members of

Acrow India Limited

Chhatrapati Sambhajinagar.

o

Report on the Audit of the Financial Statements

Qualified Opinion

1. We have audited the accompanying financial statements of Acrow India Limited having CIN: L46411MH1960PLC011601 ("the Company"), which comprise the Balance Sheet as at 31st March 2026, the Statement of Profit and Loss (including other comprehensive income), Statement of Cash Flows and Statement of Changes in Equity for the year then ended, and notes to financial statements, including a summary of material accounting policies and other explanatory information.

2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 ('the Act') in the manner so required and give a true and fair view in conformity with Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended ("Ind AS") and the other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2026, its Profit (financial performance including other comprehensive income), the changes in equity and its cash flows for the year ended on that date.

Basis for Qualified Opinion

1. We conducted our audit in accordance with Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Qualification

1. The Company has not made provision for gratuity liability in respect of its employees as required under the applicable Accounting Standards and the provisions of the Companies Act, 2013, as stated for the reasons mentioned in Note No. 34 to the Financial Statements.

Information other than the Financial Statements and Auditor's Report thereon

1. The Company's Board of Directors is responsible for the other information. The other information comprises the information included in the annual report but does not include the financial statements and our auditor's report thereon.

2. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Mumbai Office : 404, Neelkanth Business Park, 'A' - Wing, Vidyavihar Rly Station (W), Mumbai-86. : +91 97642 43800

58 office@cagna.org • gautam@cagna.org

0240-2343800, +91 98223 43800

www.cagna.in

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1. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Management's Responsibility for the Financial Statements

1. The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance (including other comprehensive income), changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Ind AS specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

2. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

3. The Board of Directors is also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

1. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

2. As part of an audit in accordance with Standard on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

a. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

b. Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company and its subsidiary companies which are companies incorporated in India, has adequate internal financial controls system in place and the operating effectiveness of such controls.

c. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

S. M. ASGON
FINANCIAL MANAGEMENT
1

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d. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

e. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial statements.

1. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

2. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

3. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2020 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the "Annexure A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. As required by Section 143(3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion, except what is stated in qualification para above, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss and the Statement of Cash Flow dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid financial statements comply with the Ind AS specified under Section 133 of the Act, read with the Companies (Accounting Standard) Rules, 2015 as amended.

SANTA ANNA
CITY OF SANTA ANNA, CALIFORNIA
1800-2015

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(e) On the basis of the written representations received from the directors as on 31st March, 2026 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2026 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure B".

(g) In our opinion and to the best of our information and according to the explanations given to us, no remuneration has been paid by the Company to its directors during the year.

(h) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements – Refer Note 21 to the financial statements.

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

iv. (a) the Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(b) the Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the company from any person or entity, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and.

(c) Based on audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement

v. No final/ interim dividend is declared and paid by the Company during the year.

CHARLOTTESVILLE, NC 27401
14.06.1974

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vi. Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of accounts for the financial year ended 31st March 2026 which has a feature of recording audit trail (edit log) facility and the same has been made operational throughout the year for all relevant transactions recorded in the software. Further, during our audit we did not come across any instance of the audit trail feature being tampered with.

For Gautam N Associates
Chartered Accountants
FRN 103117W

Gautam Nandawat
Partner
Membership No 032742
UDIN: 26032742HLDOBT4225

Place: Chhatrapati Sambhajinagar
Dated: 28/05/2026

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ANNEXURE "A" TO THE AUDITORS' REPORT

The Annexure referred to in Independent Auditors' Report to the Members of the Acrow India Limited on the financial statements for the year ended 31st March 2026, we report that:

1. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment. The company does not have intangible assets

(b) The company has regular program of physical verification of its Property, Plant and Equipment by which Property, Plant and Equipment are verified in a phased manner over a period of three years. In accordance with this program, certain Property, Plant and Equipment were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the company and nature of its business.

(c) According to the information and explanations given to us, and on the basis of our examination of the record of the company, the title deeds of the immovable properties are held in the name of the company.

(d) According to the information and explanations given to us, and on the basis of our examination of the record of the company, the company has not revalued any Property, Plant & Equipment (including Right of Use assets).

(e) According to the information and explanations given to us, and on the basis of our examination of the record of the company, no proceedings have been initiated or are pending against the company for holding any Benami property under the "Benami Transactions (Prohibition) Act, 1988 and Rules made thereunder.

1. (a) The inventory has been physically verified during the year by the management. In our opinion, the coverage and procedure of such verification by the management is appropriate. There is no discrepancy of 10% or more noticed during verification between the physical stocks and book records. The discrepancies were not material, which have been properly dealt with in the books of account. There is no inventory at the year-end.

(b) During the year, the Company has not been sanctioned working capital limits in excess of Rs. 5 crores, in aggregate, from banks, hence clause (ii)(b) of the Order is not applicable.

1. (a) As per the information and explanations given to us, the Company has granted loans including advances in the nature of loan to one related party other than subsidiary, joint venture and associates. The aggregate amount of loan granted during the year is Nil and the balance outstanding at the year-end is Rs. 1997.99 Lakhs. Further, the company has not made any investments or provided guarantee or security during the year.

(b) The terms and conditions for such above loans are not prejudicial to the interest of the Company.

(c) In respect of loans and advances in the nature of loans, the repayment of principal and interest is regular as stipulated in the agreement.

(d) There are no amounts overdue for more than ninety days in respect of the loans granted.

(e) On the basis of our examination of the records of the Company, there is no loan or advance in the nature of loan granted falling due during the year, which has been renewed or extended or fresh loans granted to settle the overdue of existing loans given to same parties.

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(f) As per the information and explanations given to us by the Management the Company has granted loans or advances which is in the nature of loan to a related party as defined in Clause (76) of section 2 of the Act, which are repayable on demand. The related information is as under:-

Type of Borrower		Repayment Terms	Loan outstanding as at year end (Rs. in Lakhs)	% age
Related Party
i) Brindavan Cotton Private Limited		Repayable on demand	1,997.99	100%

1. The company has neither provided any security nor made any investment, but it had given a Loan in earlier year which is repayable on demand to a related party covered under section 185 and 186 of the Act.

2. The Company has not accepted deposits within the meaning of sections 73 to 76 of the Act or any other relevant provisions of the Act and the rules framed there under.

3. As there are no manufacturing activities, the clause (vi) of the Order in respect of maintenance of cost records under section 148(1) of the Act is not applicable.

4. (a) The company is regular in depositing undisputed statutory dues including provident fund, employees' state insurance, income-tax, goods and service tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities. There are no statutory dues which have not been deposited and are outstanding for a period of more than six months from the date they became payable at the close of the year.

(b) Based on the information and explanations provided to us, there are no undisputed dues payable in respect of Income Tax, Customs Duty, Cess, and other material statutory dues that have not been deposited with the appropriate authorities, except for Rs. 5.08 lakhs pertaining to the Employees State Insurance Corporation and Rs. 0.98 lakhs pertaining to the Service Tax Department, for which appeals are pending before the respective Authorities.

1. According to the information and explanations given to us, there is no transaction recorded in the books of account that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961, hence, clause (viii) of Order is not applicable.

2. In our opinion and according to the information and explanations given to us,

(a) The Company has not defaulted in payment of dues to financial institution or bank
(b) The company is not declared willful defaulter by any bank or financial institution or other lender.
(c) There is no term loan taken from bank or financial institution.
(d) No funds raised on short term basis have been utilized for long term purposes.
(e) The Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures; hence the clause (ix) (e) of the Order is not applicable.
(f) The Company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies; hence the clause (ix) (f) of the Order is not applicable.

1. The company has not raised any money by way of initial public offer, further public offer (including debt instruments), preferential allotment or private placement of shares during the year.

MILITARY U.S. AGENCY
CHAMBERS
ACCOUNTANTS
方支专
61.86.3270
华

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1. (a) According to the information and explanations given to us, no fraud by the company or any fraud on the Company has been noticed or reported during the year.
   (b) None of report under Section 143 (12) of the Act has been filed by the auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules 2014 with the Central Government.
   (c) We have not considered whistle-blower complaints, since, there is no complaint received during the year by the Company.

2. The company is not a Nidhi Company as such provisions of the clause (xii) are not applicable to the company.

3. All transactions with the related parties are in compliance with section 177 and 188 of the Act, where applicable and the details have been disclosed in the Ind AS financial statements etc., as required by the applicable accounting standards.

4. (a) In our opinion, the company has an internal audit system commensurate with the size and nature of its business.
   (b) In framing our Independent Audit Reports, we have considered Internal Auditors Report for the period under audit.

5. The company has not entered into any non-cash transactions with directors or persons connected with him.

6. (a) According to the information and explanations given to us, and in our opinion, the company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, paragraph 3(xvi) (a), (b) and (c) of the Order are not applicable.
   (b) According to the information and explanations given to us, the Company is not a Core Investment Company (CIC) as defined under the Regulations by the Reserve Bank of India, hence paragraph 3(xvi) (d) of the Order is not applicable.

7. The Company has not incurred cash losses during the current financial year as well as immediately preceding financial year.

8. There has been no resignation of the statutory auditors during the year and accordingly this clause is not applicable.

9. On the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, we are of the opinion that no material uncertainty exists as on the date of the audit report that company is capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.

10. The provisions related to Corporate Social Responsibility are not applicable in the preceding financial year, hence, clause (xx) of the Order is not applicable.

11. The company does not have any subsidiary, associate, joint venture, hence, the consolidation of financial statement is not applicable.

For Gautam N Associates
Chartered Accountants
FRN 103117W

Gautam Nandawat
Partner
Membership No 032742
UDIN:26032742HLDOBT4225

Place: Chhatrapati Sambhajinagar
Dated: 28/05/2026

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ANNEXURE "B" TO THE AUDITORS' REPORT

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")

1. We have audited the internal financial controls over financial reporting of Acrow India Limited ("the Company") as of 31st March, 2026 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

1. The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (ICAI). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors Responsibility

1. Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by the ICAI and the Standards on Auditing prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

2. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the Ind AS financial statements, whether due to fraud or error.

3. We believe that the audit evidence, we have obtained, is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting of the company.

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Meaning of Internal Financial Controls Over Financial Reporting

1. A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of Ind AS financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material effect on the Ind AS financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

1. Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

1. In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March, 2026 based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the ICAI.

For Gautam N Associates
Chartered Accountants
FRN 103117W

Gautam Nandawat
Partner
Membership No 032742
UDIN: 26032742HLDOBT4225

Place: Chhatrapati Sambhajinagar
Dated: 28/05/2026

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| ACROW INDIA LIMITED
Reg. Off: T-27 Software Technology Park, Chikalthana, MIDC, Chhatrapati Sambhajinagar MH, 431001
Email Id: cascrewindiaibd@gmail.com ; CIN:L46411MH1980PLC011501
Statement of audited financial results for the Quarter ended on 31st March, 2025 | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| PARTICULARS | Quarter Ended | | | Year ended 31-03-2025 (Audited) | Year ended 31-03-2025 (Audited) | |
| | | 31-03-2025 (Audited) | 31-12-2025 (Unaudited) | | | 31-03-2025 (Audited) |
| I | Income | | | | | |
| | Revenue from operations | 105.14 | 716.29 | 323.82 | 998.60 | 323.82 |
| | Other Income | 35.08 | 44.53 | 44.73 | 159.85 | 250.30 |
| | Total Income from operations | 140.22 | 760.91 | 368.55 | 1,156.45 | 574.12 |
| II | Expenses | | | | | |
| | Purchases/Material Consumed | 103.57 | 683.40 | 323.22 | 986.50 | 323.22 |
| | Change in Inventories | - | - | - | - | - |
| | Employee benefit expenses | 19.50 | 6.20 | 15.50 | 38.20 | 27.28 |
| | Finance costs | - | - | - | - | - |
| | Depreciation and amortization expenses | 5.56 | 5.86 | 4.73 | 23.42 | 26.41 |
| | Other expenses | 13.73 | 5.41 | 51.63 | 49.06 | 81.85 |
| | Total expenses | 142.76 | 700.87 | 396.08 | 1,097.18 | 457.76 |
| III | Profit/(Loss) before exceptional items and tax | (2.53) | 80.04 | (26.53) | 59.27 | 116.35 |
| IV | Exceptional Items- Prior Period Items | | | | | |
| V | Profit/(Loss) before tax | (2.63) | 80.04 | (26.53) | 59.27 | 116.35 |
| VI | Tax expenses | | | | | |
| | a) Current tax | (0.20) | 16.57 | 1.82 | 30.34 | 54.65 |
| | b) Income tax prior year | - | 0.00 | - | 1.62 | - |
| | b) Deferred tax | (0.07) | (1.45) | (1.56) | (5.64) | 150.37 |
| | Total tax expenses | (0.28) | 15.12 | 0.74 | 16.22 | 204.45 |
| VII | Net Profit/(Loss) for the period/year | (2.26) | 44.92 | (27.27) | 43.05 | (58.09) |
| VIII | Other comprehensive income (net of tax) items that will not be reclassified to profit or loss: | | | | | |
| | i) Remeasurement of past employment benefit obligations | - | - | - | - | - |
| | ii) Income-tax relating to items that will not be reclassified to profit or loss | - | - | - | - | - |
| | Total other comprehensive income | - | - | - | - | - |
| IX | Total comprehensive income for the period/year (VII+VIII) | (2.26) | 44.92 | (27.27) | 43.05 | (58.09) |
| X | Paid-up equity share capital (face value of Rs.10 per share) | 64.00 | 64.00 | 64.00 | 64.00 | 64.00 |
| XI | Other equity (excluding revaluation reserve) | | | | 2,218.68 | 2,175.63 |
| XII | EPS in Rs. (Face Value of Rs.10/- each)* | | | | | |
| | -Basis | (0.35) | 7.02 | (4.28) | 6.73 | (13.76) |
| | -Diluted | (0.35) | 7.02 | (4.28) | 6.73 | (13.76) |

Note:-
1 The company is, presently, in the business of sale of Cotton and real estate development. During this quarter, the company has carried out cotton bales trading business as such there is no other reportable business / geographical segment, as required by Ind - AS 103 on "Operating Segments".
2 The above audited financial results have been reviewed by the Audit Committee and taken on record by the Board of Directors at it's meeting held on 28th May 2025.
3 The figures for the quarter ended 31st March, 2025 are the balancing figures between the audited figures in respect of the full financial year and the unaudited published figures up to nine months of the relevant financial year.
4 During the quarter ended 31st March, 2025, no investor complaints were received and no complaint was pending at the beginning and at the end of the period.
5 The figures of the previous periods quarter/year have been regrouped/rearranged/recoated wherever considered necessary.

For and on behalf of Board of Directors

UDIN:26032742HLDO9T4225

Place: Chhtrapati Sambhajinagar

Date: 28-05-2026

FOR GAUTAM N ASSOCIATES

CHARTERED ACCOUNTANTS

GAUTAM NANDAWAT

(Partner)

Gopal Agrawal

Managing Director

DIN: 02160565

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ACROW INDIA LIMITED

CIN-L46411MH1960PLC011601

T-27 Software Technology Park, Chikalthana MIDC, Chhatrapati Sambhajinagar, MH, 431001

Balance Sheet as at March 31, 2026

| | As at
March 31, 2026
Rs. In Lakhs | As at
March 31, 2025
Rs. In Lakhs |
| --- | --- | --- |
| Assets | | |
| i) Non-Current Assets | | |
| a) Property, plant and Equipment | 212.14 | 237.59 |
| b) Right of use assets | 2.69 | 2.74 |
| c) Financial Assets | | |
| (i) Investment | - | - |
| (ii) Financial assets | - | - |
| c) Deferred Tax Assets (Net) | - | - |
| d) Other Non-current Assets | - | 0.21 |
| | 214.82 | 240.54 |
| ii) Current Assets | | |
| a) Inventories | | |
| b) Financial Assets | | |
| (i) Trade Receivables | 8.95 | 340.01 |
| (ii) Cash and cash equivalents | 0.28 | 6.65 |
| (iii) Loans | 1,997.99 | 2,176.70 |
| c) Current Tax Assets (Net) | | |
| d) Other current assets | 160.15 | 23.16 |
| | 2,167.36 | 2,546.52 |
| Total Assets | 2,382.19 | 2,787.06 |
| Equity and Liabilities | | |
| Equity | | |
| a) Equity Share Capital | 64.00 | 64.00 |
| b) Other Equity | 2,218.68 | 2,175.63 |
| | 2,282.68 | 2,239.63 |
| Liabilities | | |
| i) Non-Current Liabilities | | |
| a) Financial Liabilities | | |
| (i) Borrowings | - | - |
| (ii) Trade Payables | - | - |
| b) Provisions | - | - |
| c) Deferred Tax Liability | 54.06 | 59.71 |
| d) Other Non-current liabilities | | |
| | 54.06 | 59.71 |
| ii) Current Liabilities | | |
| a) Financial Liabilities | | |
| (i) Borrowings | - | - |
| (ii) Trade Payables to MSME | 0.30 | - |
| (iii) Trade Payables other than MSME | 13.92 | 341.74 |
| b) Other current liabilities | 27.92 | 111.23 |
| c) Provisions | - | - |
| d) Current Tax Liabilities (Net) | 3.31 | 34.74 |
| | 45.44 | 487.72 |
| Total Equity and Liabilities | 2,382.19 | 2,787.06 |

The accompanying Notes are an integral part of these Financial Statements.

In terms of our report of even date.

For Gautam N Associates
Chartered Accountants
Firm Registration No.: 103117W

Gautam Nandawat
Partner
Membership No.: 998718
UDIN: 26032742HLDOBT4225

For and on behalf of the Board of Directors

Place: Chhatrapati Sambhajinagar
Date: 28-05-2026

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ACROW INDIA LIMITED
CIN-L46411MH1960PLC011601
T-27 Software Technology Park, Chikethana MIDC, Chhatrapati Sambhajnagar, MH 431001
Statement of Cash Flow for the year ended March 31, 2026

	Year ended March 31, 2026
	Rs. In Lakhs	Rs. In Lakhs
A. Cash flow from Operating Activities
Net profit before tax	59.27	116.37
Adjustments for:
Depreciation expense	23.42	25.41
Interest income	(159.84)	(180.98)
Loss /(Profit) on sale of fixed assets	-	(69.32)
Operating profit before Working Capital Canges	(77.15)	(105.52)
Adjustments for changes in Working Capital:
(Increase)/ Decrease in current - non current other assets	(136.77)	24.92
(Increase)/ Decrease in Inventories	-	-
(Increase)/ Decrease in Trade Receivables	331.07	(340.01)
Increase/ (Decrease) in Trade Payables	(327.53)	377.16
Increase/ (Decrease) in Other Current Liabilities	(83.32)	(18.40)
Increase/ (Decrease) in Short Term Provision	-	-
Operating profit after Working Capital Changes	(295.70)	(64.86)
Income Tax refund received / (paid)	(53.29)	(12.81)
Net cash from operating activities (A)	(346.99)	(77.67)
B. Cash flow from Investing Activities
Advance received against sale of plot	-	41.00
Proceeds from Sale of tangible assets	2.06	156.50
Interest income	159.84	180.98
Intercorporate deposit	178.71	(295.12)
Net cash used in Investing Activities (B)	540.63	83.36
C. Cash flow from Financing Activities
Proceeds from /(Payment to) Non-current Term Loan	-	-
Proceeds from /(Payment to) Short Term Loan	-	-
Net cash used in Financing Activities (C)	-	-
Net Decrease In Cash and Cash Equivalents (A+B+C)	(6.37)	5.69
Cash and cash equivalents at the beginning of the year	6.65	0.96
Cash and cash equivalents at the end of the year	0.28	6.65
Net Decrease In Cash and Cash Equivalents (A+B+C)	(6.37)	5.69
	As at 31st March 2026 (Rs. In Lakhs)	As at 31st March 2025 (Rs. In Lakhs)
Cash and cash equivalents comprise of:
Cash on Hand	-	-
Bank Balances:	-	-
- In Current Accounts	0.28	0.96
Cash and cash equivalents at the end of the year	0.28	0.96

(i) The above Standalone Statement of Cash Flow has been prepared under "Indirect Method" set out in Indian Accounting Standard - 7 on "Cash Flow Statements".
(ii) Figures in brackets indicate cash outgo.
(iii) Previous year's figures have been regrouped/ rearranged wherever necessary.

In terms of our report of even date.

For Gautam N Assocates

Chartered Accountants

FRN 103117W

Gautam Nandawat

Partner

Membership No.: 032742

UDIN: 26032742HLDCGT4225

For and on behalf of the Board of Directors

Place: Chhatrapati Sambhajnagar
Date: 28-05-2026

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ACROW

ACROW INDIA LIMITED

www.acrowindia.com

CIN: L46411MH1960PLC011601

Registered Office Address:

Plot No. T-27, STPI Park,

M.I.D.C., Chikalthana,

Chhatrapati Sambhaji Nagar,

Maharashtra, India - 431001.

Phone: +91 7900181470

Email: csacrowindialtd@gmail.com

ANNEXURE - I

ACROW INDIA LIMITED

(CIN: L46411MH1960PLC011601)

ISIN: INE950D01012

Statement on Impact of Audit Qualifications for the Quarter and Year ended March 31, 2026.

[Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]

I.

Rs. in Lakhs

Sr. No.	Particulars	Audited Figures (as reported before adjusting for qualifications)	Adjusted Figures (audited figures after adjusting for qualifications)
1	Turnover / Total income	1,156.45	1,156.45
2	Total Expenditure	1,097.18	1,097.18
3	Net Profit/(Loss)	43.05	43.05
4	Earnings Per Share	6.73	6.73
5	Total Assets	2382.19	2382.19
6	Total Liabilities	45.44	45.44
7	Net Worth	2336.75	2336.75
8	Any other financial item(s) (as felt appropriate by the management)	NA	NA

II. Audit Qualification (each audit qualification separately):

a. Details of Audit Qualification: The Company has not made provision for gratuity liability in respect of its employees as required under the applicable Accounting Standards and the provisions of the Companies Act, 2013, as stated for the reasons mentioned in Note No. 34 to the Financial Statements.

b. Type of Audit Qualification: Qualified Opinion / Disclaimer of Opinion / Adverse Opinion

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ACROW

ACROW INDIA LIMITED

www.acrowindia.com

CIN: L46411MH1960PLC011601

Registered Office Address:

Plot No. T-27, STPI Park,

M.I.D.C., Chikalthana,

Chhatrapati Sambhaji Nagar,

Maharashtra, India – 431001.

Phone: +91 7900181470

Email: csacrowindialtd@gmail.com

c. Frequency of qualification: Whether appeared first time / repetitive / since how long continuing

d. For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views: Not Applicable.

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

i. Management's estimation on the impact of audit qualification: - Since, there are only two employees on the payroll of the Company and none of the labour laws are applicable to the company, the impact is presently not quantifiable or estimable.

ii. If management is unable to estimate the impact, reasons for the same: There are only two employees on the payroll of the Company, and thus none of the labour laws are applicable to the company and hence there are no quantifiable impacts of the same.

iii. Auditors' Comments on (i) or (ii) above: In absence of an actuarial valuation or a reliable estimate, we are unable to determine the extent of the adjustment required to be made in the employee benefit expenses and resulting impact on the Statement of Profit and Loss.

Gopal Agrawal
Whole-Time Director
DIN: 02160569

Devinder Khurana
Audit Committee Chairman

Ankur Pranab Chakraborty
CFO

Gautam Nandawat
Statutory Auditor

Date: 28/05/2026