Tax demand of about Rs 2.16 crore from rectification order for AY 2018-19

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Price reactionminutes from the announcement price · days from the prior close

-1.2%Reaction day

₹85.05

prior close

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announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-1.2% vs market

Other Textile Products peers, median of 178sector+0.2%-1.4% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 1.4 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 178Pending

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AI summary

Sarla Performance Fibers received a Rectification Order under Section 154 of the Income-tax Act, 1961 for Assessment Year 2018-19 from the Deputy Commissioner of Income-tax, Mumbai. The order revises total income to about Rs 50.22 crore, creating a tax demand of about Rs 2.16 crore including interest. The rectification fixed a non-incorporation of an adjustment of about Rs 13.09 lakh. The company has filed an appeal before ITAT Mumbai, which is pending. There is no impact on operations.

Likely market impact

Additional tax outgo of about Rs 2.16 crore pending appeal at ITAT. No impact on operations; financial hit manageable pending outcome.