Kalpataru Projects International Limited has informed the Exchange about Action(s) taken or orders passed
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Awaiting price reaction for this filing.
Kalpataru Projects International's branch in Mauritania had received a tax assessment order from the Directorate General of Taxes, Islamic Republic of Mauritania for financial years 2023 and 2024. The original demand included penalties of about INR 83.66 lakhs (FY2023) and INR 28.89 lakhs (FY2024) on account of salary tax reconfirmation and disallowance of certain expenses. The company filed objections, which led to a reduction in the final penalty to about INR 72.46 lakhs (FY2023) and INR 26.74 lakhs (FY2024), a combined reduction of roughly INR 13 lakhs. The revised order was received on 16th July 2025. The company had earlier stated that the penalty does not have any significant impact on its financials or operations.
The financial impact is minor at under INR 1 crore total, and the company's objections successfully reduced the penalty. Shareholders are unlikely to see any meaningful effect on earnings or stock price from this development.