Acrow Limited has provided a detailed explanation to BSE Limited regarding the delayed submission of board meeting outcomes, citing an unforeseen medical emergency that prevented timely regulatory compliance. The company's clarification, dated March 5, 2026, addresses concerns raised by the stock exchange regarding non-compliance with SEBI LODR Regulations.

Emergency Circumstances Behind Delay

The delay occurred when Company Secretary Arvind Mody had to urgently attend to a medical emergency at his residence immediately after the board meeting concluded. This unforeseen situation, combined with intervening non-working days, prevented the completion and uploading of the board meeting outcome within the prescribed regulatory timeline.

Company's Response and Corrective Measures

Acrow Limited emphasized that the delay was completely unintentional and circumstantial, with no deliberate attempt to withhold or suppress material information from the stock exchange or investors. The company highlighted its consistent record of regulatory compliance and commitment to adhering to SEBI LODR provisions.

To prevent similar situations in the future, the company has implemented strengthened internal processes:

• Alternate compliance mechanisms established
• Additional signatory arrangements put in place
• Enhanced backup procedures for regulatory filings

Request for Exemption

The company has requested BSE Limited to grant exemption from penalties, citing several factors:

• Bona fide and unavoidable nature of the delay
• Absence of mala fide intent
• Prompt corrective action taken upon resumption of duties
• No prejudice caused to investors or market participants

Acrow Limited maintains that the disclosure was filed immediately when the Company Secretary resumed office, demonstrating the company's commitment to transparency and regulatory compliance despite the challenging circumstances.

Acrow India Limited has delivered a strong financial performance in the third quarter of fiscal year 2026, reporting a net profit of ₹44.92 lakhs for the quarter ended December 31, 2025. This marks a significant improvement from the previous quarter's loss of ₹8.40 lakhs and demonstrates the company's operational recovery.

Financial Performance Overview

The company's quarterly results show substantial growth across key metrics, with total income reaching ₹760.91 lakhs compared to ₹215.46 lakhs in the previous quarter.

Operational Highlights

The company's revenue surge was primarily driven by cotton bales trading operations, which generated ₹716.29 lakhs in revenue from operations during the quarter. This represents a new business focus for Acrow India Limited, as the company had no revenue from operations in the corresponding quarter of the previous year.

Other income contributed ₹44.63 lakhs to the total income, showing consistency with previous quarters. The company maintained disciplined cost management with total expenses of ₹700.87 lakhs, resulting in a healthy profit margin.

Nine-Month Performance

For the nine-month period ended December 31, 2025, Acrow India Limited achieved remarkable year-over-year improvement:

Audit Qualification and Labour Code Impact

The company's auditors, Gautam N Associates, have issued a qualified opinion regarding the potential impact of new Labour Codes implemented by the Government of India, effective from November 21, 2025. The auditors noted that the company has not completed its assessment of incremental financial impact from these changes.

However, management has clarified that the impact is expected to be minimal, as the company employs only two people on its payroll, making most labour laws inapplicable to its operations. The company stated that in the absence of applicable labour laws due to its small workforce, there are no quantifiable impacts expected from the new regulations.

Financial Position and Outlook

The company maintains a strong financial position with total assets of ₹2,710.30 lakhs and net worth of ₹2,343.36 lakhs as of December 31, 2025. The paid-up equity share capital remains stable at ₹64.00 lakhs with a face value of ₹10 per share.

During the quarter, the company reported no investor complaints, maintaining its track record of zero pending complaints. The financial results were reviewed by the Audit Committee and approved by the Board of Directors on February 12, 2026.