Polycab India Limited has informed the Exchange about General Updates
POLYCAB · price
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Awaiting price reaction for this filing.
Polycab India has received an Income Tax assessment order from the Office of the Deputy Commissioner of Income-Tax, Mumbai, dated 03 March 2026, for Assessment Year 2024-25 (relating to FY 2023-24). The order, passed under Section 143(3) of the Income Tax Act, has made disallowances and additions totalling Rs. 41.87 crores, resulting in a tax demand of Rs. 327.45 crores. The company believes the demand is inflated due to computational or clerical errors and is filing a rectification application under Section 154. It also plans to file an appeal, contending that the demand is not legally sustainable. Polycab has stated that it does not expect any material impact on its financial position or operations from this order.
While a Rs. 327.45 crore tax demand is sizeable, the company's confidence in contesting it and its assurance of no material impact may limit the negative effect on the stock. Investors should watch for updates on the rectification and appeal outcomes, as an adverse ruling could weigh on sentiment.