PI Industries Limited has informed the Exchange about Action(s) taken or orders passed-regarding order issued by the Office of Excise and Taxation Officer-cum-State Tax Officer, jurisdiction-Bhatinda
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PI Industries has received an order from the Excise and Taxation Officer-cum-State Tax Officer of Bhatinda (Punjab) raising a tax demand of ₹3,90,09,656 (about ₹3.9 crore), including interest and penalty. The demand relates to disallowance of input tax credits (ITC) claimed by the company for FY 2021-22 under the CGST and Punjab GST Acts. The order was received on January 6, 2026. The company has stated there is no material impact on its financials or operations, and based on legal advice, it believes it has strong grounds to contest the order. It is in the process of filing an appeal before the appropriate appellate authority.
The demand is small relative to PI Industries' overall scale and the company has flagged no material financial or operational impact. Investors should note this is a routine tax dispute and the company plans to appeal, so the actual cash outflow depends on the appeal outcome.