Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 & pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December ....
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Acrow India reported Q3 FY26 (quarter ended Dec 31, 2025) revenue from operations of Rs. 716.29 lakhs, down about 20% from Rs. 891.46 lakhs in the same quarter last year. Total income for the nine months ended Dec 2025 stood at Rs. 1,016.23 lakhs, with profit after tax for the quarter at Rs. 44.92 lakhs versus Rs. 40.53 lakhs in Q3 FY25. The company also carried out cotton bale trading during the quarter. Statutory auditor Gautam N Associates issued a Modified (Qualified) opinion because the company has not yet assessed the financial impact of India's new Labour Codes effective Nov 21, 2025, and no provision has been made for any incremental employee benefit liability. Management clarified the company has only two employees on its payroll, so labour laws are not applicable and the impact is not quantifiable. This is the first time this qualification has appeared.
The qualified opinion is largely procedural and likely immaterial given the tiny workforce, but it still flags an unresolved compliance uncertainty for shareholders. The sharp drop in quarterly revenue is a negative signal, even though profits held up on lower input costs.