Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015
MANKIND · price
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Awaiting price reaction for this filing.
Mankind Pharma has received reassessment orders from the Deputy Commissioner of Income Tax, Central Circle 29, New Delhi, dated 1st and 7th May 2025, for assessment years 2014-15 to 2019-20 and 2021-22. These orders relate to two entities — Lifestar Pharma and Magnet Labs — that have already been merged into Mankind Pharma. The tax authority has raised an additional demand of Rs 128.25 crore (including interest) under Section 147 read with Section 143(3) of the Income-tax Act, citing disallowance of certain expenditures under Section 37(1). The company has stated the demand is not legally tenable and plans to appeal.
The tax demand of Rs 128.25 crore is sizeable but the company believes it has strong grounds to contest and does not foresee a material hit to its finances or operations. Near-term sentiment may see mild negativity, but no immediate cash outflow is expected pending the appeal process.