Kalpataru Projects International Limited has informed the Exchange about Action(s) taken or orders passed
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The Mauritania branch of Kalpataru Projects International Limited received tax assessment orders on June 4, 2025, from the Directorate General of Taxes, Islamic Republic of Mauritania. The authority has raised a demand for tax and penalty related to reconstitution of the ITS (salary tax) base and disallowance of certain branch expenses for financial years 2023 and 2024. The total penalty demanded is approximately MRU 51.85 lakhs, equivalent to around INR 1.12 crore (INR 83.66 lakhs for FY2023 and INR 28.89 lakhs for FY2024). The company has stated that it will file objections against these orders within the prescribed timelines and that the penalty does not have any significant impact on its operations or financials.
The financial impact is minimal, with total penalties of about INR 1.12 crore, which is negligible compared to the company's overall scale. Shareholders are unlikely to see any material effect on stock price, though investors should monitor the outcome of the company's objections.