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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Delton Cables Ltd's Board of Directors has approved a change in accounting policy for measuring land (Property, Plant and Equipment) from the historical cost model to the revaluation model under Ind AS 16, effective from FY 2025-26. The revaluation was conducted by an independent registered valuer. The resulting increase has been recognized in Other Comprehensive Income under 'Revaluation Surplus' rather than directly in the profit and loss statement. The company states this change will provide more reliable and relevant financial information by reflecting the current fair value of land and economic resources deployed in the business.
This change will increase the book value of the company's land assets on the balance sheet, potentially improving financial ratios like return on assets. Since the revaluation surplus goes to OCI, it won't directly inflate profits, but could positively influence investor perception of asset quality and the company's true economic value.