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 income tax orders from the Office of the Deputy Commissioner of Income Tax, Central Circle 29, New Delhi, dated May 9, 2025, for assessment years 2018-19, 2020-21, and 2022-23. The orders raise an additional tax demand of INR 341.86 crores (including interest) related to adjustments under Section 80IC/80IE and disallowance of certain expenditures under Section 37(1) of the Income-tax Act. The company has stated that it believes the demands are not tenable in law, has strong factual and legal grounds to contest them, and does not expect any material impact on its financials or operations. The company plans to file an appeal and is also filing a rectification petition regarding prepaid taxes of merged entities (Lifestar Pharma and Magnet Labs) that were not credited for AY 2022-23.
While the demand of INR 341.86 crores is sizeable, the company's stated confidence in overturning it on appeal limits the immediate downside. However, the issue remains an overhang on the stock until the appeal is resolved, and any adverse final outcome could affect earnings and sentiment.