Announced Wed, 24 Jun · 16:47 IST
Subsidiary JGL gets tax rectification relief, liability cut to Rs 42.41 cr
Regulatory & Legal View source PDF
JUBLPHARMA · price
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Price reaction · full curve 14 horizons · vs prior close
-1.9%1-day move
₹973.90
prior close
₹982.50
base price
After-mkt
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AI summary
Jubilant Generics Ltd (JGL), a wholly owned step-down subsidiary, received a Rectification Order from the Income Tax Department for AY 2023-24. Tax adjustments were reduced from Rs. 107.89 crs to Rs. 42.41 crs, a relief of about Rs. 65.48 crs in tax losses restored. The appeal on merit grounds is still being pursued before CIT(A) separately.
Likely market impact
Positive for Jubilant Pharmova as subsidiary tax liability drops by about 60 percent, easing near-term financials.