Powerica Limited has informed the Exchange about the disclosure given under Regulation 30 of the SEBI Listing Regulations
POWERICA · price
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On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 1.2 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Powerica Limited has disclosed receiving a tax demand notice of Rs. 30.28 crore from the Income Tax Department's Centralized Processing Center in Bengaluru. The demand pertains to Assessment Year 2025-26 under Section 143(1) of the Income Tax Act, 1961, primarily due to setoff relating to advance tax, TDS, and self-assessment tax. The company states there is no material impact on its financials or operations, and the order is rectifiable. The company is reviewing the demand and evaluating next steps.
While the tax demand is significant at Rs. 302.8 million, the company has stated there is no material financial impact. The matter appears routine as the demand arose from processing adjustments and is rectifiable, suggesting no immediate shareholder concern unless the demand is upheld after review.