Ram Ratna Wires Limited has informed the Exchange about Action(s) initiated or orders passed in regards for Global Copper Private Limited, a material subsidiary company of the Company.
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On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.8 pts less than its Other 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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Ram Ratna Wires Limited's material subsidiary, Global Copper Private Limited, received an Assessment Order from the Deputy Commissioner of Income Tax, Vadodara, on 31st March 2025, for Assessment Year 2023-24. The tax department raised a demand of Rs. 2.49 crores (including Rs. 0.50 crores in interest) following certain additions under various sections of the Income Tax Act. No penalty, restriction, or sanction has been imposed as part of this order. The subsidiary intends to file an appeal against the order. The parent company has stated that it does not currently expect any material impact on its financials, operations, or other activities due to this order.
The tax demand of Rs. 2.49 crores is on the subsidiary and the company expects no material financial impact. Short-term sentiment may be mildly negative, but the appeal process and small size of the demand relative to operations should keep this a non-event for shareholders.