NIMBSPROJ · price
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Awaiting price reaction for this filing.
Nimbus Projects Ltd has informed the stock exchange about a change in its accounting policy. The company will now prepare its consolidated financial statements for the year ended 31 March 2025 in line with Ind AS-110, covering the company, its subsidiaries, and associates. It is also consolidating two partnership firms — IITL-Nimbus The Express Park View and IITL-Nimbus The Palm Village — in which it holds a 95% stake, effective from 1 April 2022. The other partner (Nimbus Propmart Private Ltd, 5% stake) has relinquished control of these firms. Management says the change will provide more reliable and relevant financial information.
This is a technical accounting change that broadens the scope of consolidation but is unlikely to have a material impact on the stock price. Investors should watch the upcoming consolidated results for any restated historical figures.