Acme Resources Limited is a **Non-Banking Financial Company (NBFC)** registered under **Section 45-IA** of the Reserve Bank of India Act, 1934 (Certificate of Registration No. **B.14.03408**). The company is classified as a **Non-Deposit Accepting** institution and operates within the **Base Layer (NBFC-BL)** regulatory framework. The company’s primary business model is centered on providing **short-term and long-term loans and advances** to corporate borrowers, complemented by strategic activities in the real estate sector. --- ### **Core Business Segments and Revenue Mix** Acme Resources Limited operates through two distinct business verticals. While the financing arm remains the primary driver of turnover, the real estate segment provides a secondary revenue stream. * **NBFC Business (Financing Activities):** This segment focuses on corporate lending and credit delivery. In recent filings, it contributed **100%** of total turnover in specific periods, with **FY 2024-25** revenue reported at **₹5.91 crore**. * **Property Sales/Purchase:** This segment involves the trading and investment in real estate properties. For **FY 2024-25**, this vertical generated **₹2.03 crore** in revenue. --- ### **Group Structure and Subsidiary Operations** The company manages its diversified interests through a consolidated structure involving two key subsidiaries. | Subsidiary Name | Country | Ownership Interest | Status | | :--- | :--- | :--- | :--- | | **Ojas Suppliers Limited** | India | **99.99%** | Material Non-Listed Subsidiary | | **Atul Agro Private Limited** | India | **96.10%** | Non-Material Subsidiary | The company maintains a policy of **retaining earnings** to fund future expansion and strengthen the capital base of these entities, resulting in **NIL dividend declarations** for the recent fiscal periods. --- ### **Financial Performance Trajectory** The company has experienced significant volatility in its financial metrics, characterized by a sharp contraction in income and profitability following a high-growth phase in FY 2022-23. **Consolidated Financial Summary:** | Metric (₹ in Lacs) | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | :--- | | **Total Income** | **706.16** | **2,901.37** | **817.81** | | **Profit Before Tax (PBT)** | **16.81** | **1,651.77** | **436.54** | | **Dividend Declared** | **NIL** | **NIL** | **NIL** | Due to **inadequate profits** as defined under **Section 198** of the Companies Act, 2013, managerial remuneration is strictly capped and governed by the limits specified under **Schedule V**. --- ### **Credit Portfolio and Asset Quality** As of the latest reporting period, the company manages a total financed asset portfolio of **₹6,111.36 lacs**. The portfolio is heavily weighted toward unsecured lending. **Portfolio Breakdown by Borrower Group:** * **Related Parties (Group Companies):** **₹1,710.82 lacs** (100% **Unsecured**). * **Other Parties:** **₹4,400.55 lacs** (**₹552.42 lacs Secured**; **₹3,848.13 lacs Unsecured**). **Asset Classification Framework:** The company employs a three-stage **Expected Credit Loss (ECL)** model to manage credit risk: * **Stage 1:** 12-month ECL for assets without significant credit risk increase. * **Stage 2:** Lifetime ECL for assets with a significant increase in credit risk. * **Stage 3:** Lifetime ECL for credit-impaired assets. * **Default Thresholds:** Financial assets are considered in default if overdue by **90 days**, while **Trade Receivables** carry a default threshold of **360 days**. --- ### **Leadership and Governance Transition** The company is currently undergoing a leadership transition designed to steer its next phase of growth and modernization. * **New Leadership:** **Mr. Ravin Saluja** was appointed as **Managing Director** effective **April 22, 2025**, for a **5-year tenure** ending **April 21, 2030**. He brings over **25 years** of experience and previously served as a Director for **3 years**. * **Succession:** He succeeds **Mr. Vivek Chaturvedi**, who was briefly re-appointed in **September 2024**. * **Board Oversight:** The Board passes an annual resolution explicitly prohibiting the acceptance of public deposits, ensuring strict adherence to its **Non-Deposit Accepting** status. --- ### **Risk Management and Internal Controls** Acme Resources utilizes a structured committee framework to mitigate systemic and operational risks: * **Asset Liability Management Committee (ALCO):** Oversees balance sheet planning, managing **liquidity risk**, **market risk**, and **capital planning**. * **Audit Committee:** Conducts continuous reviews of internal control systems to safeguard resources and ensure the reliability of financial reporting. * **Credit Risk Mitigation:** Employs close customer interaction to pre-empt **Non-Performing Assets (NPAs)**. Currently, the company has filed legal suits against **5 customers** for the recovery of **₹11.47 crore**. While these are considered secured, provisions have been made per **RBI Prudential Norms**. --- ### **Critical Tax Litigation and Asset Contingencies** The company is currently embroiled in significant litigation with the **Income Tax Department**, which poses a material risk to its liquidity and asset freedom. **Income Tax Demands (as of Feb 2026):** The company has challenged demand notices under **Section 156** totaling approximately **₹90.65 crore** before the **Commissioner of Income Tax (Appeals)**. | Assessment Year | Demand Amount (₹ Crore) | Status | | :--- | :--- | :--- | | **2015-16** | **30.60 to 35.41** | Challenged at CIT(A) | | **2016-17** | **52.70 to 62.29** | Challenged at CIT(A) | | **2023-24** | **1.93 to 7.35** | Challenged at CIT(A) | **Asset Attachment:** In **FY 2023-24**, the department provisionally attached inventory valued at **₹5.44 crore**. While **₹1.16 crore** has been released against a **bank guarantee**, the remaining inventory remains under restriction, prohibiting sale, transfer, or mortgaging. --- ### **Liquidity and Liability Profile** The group manages a tiered maturity profile for its financial obligations to ensure operational continuity. **Contractual Maturity (as of March 31, 2024):** | Liability Type (₹ Lakhs) | Up to 1 Year | 2-5 Years | > 5 Years | Total | | :--- | :--- | :--- | :--- | :--- | | **Borrowings** | **151.49** | **272.75** | **817.02** | **1,241.26** | | **Trade & Other Payables** | **39.35** | - | - | **39.35** | | **Total** | **190.85** | **272.75** | **817.02** | **1,280.62** | --- ### **Strategic Roadmap and Future Outlook** Acme Resources is pivoting its strategy to capitalize on India’s macroeconomic resilience and infrastructure requirements. * **Infrastructure Diversification:** The company intends to selectively expand its portfolio into **infrastructure-related financing** and allied sectors. * **Digital Transformation:** Plans are underway to integrate **analytics and digitization** to enhance last-mile credit delivery and operational efficiency. * **Capital Market Utilization:** The company aims to leverage buoyant capital market conditions to strengthen its equity base and funding capabilities. * **Economic Drivers:** Growth is expected to be fueled by domestic **infrastructure development**, government reforms, and robust **consumption demand**, despite global geopolitical uncertainties.