SHREE CEMENT LIMITED has informed the Exchange regarding 'receipt of Final Assessment Order u/s 143(3) of the Income Tax Act, 1961 from the Income Tax Authority'.
SHREECEM · price
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On the reaction day the stock moved 3.6 pts less than Nifty 100 and 3.4 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shree Cement has received a Final Assessment Order under Section 143(3) of the Income Tax Act for FY 2021-22 from the Assistant Commissioner of Income Tax, Central Circle, Ajmer, on 27th May 2025. The order has raised a demand of Rs. 588.65 crore (including interest) on account of certain disallowances. This follows a draft assessment order that was earlier communicated to the exchanges in April 2025. The company states it believes there are prima facie errors in the order, which on rectification could substantially reduce the demand, and the balance could be adjusted against pending refunds. Shree Cement is pursuing legal remedies and expects the entire demand to subside based on favourable rulings in prior years.
The Rs. 588.65 crore tax demand is a sizeable headline number, but the company's confidence that it will be reduced or set off against refunds, combined with no expected impact on operations, makes this a relatively neutral event for shareholders. Short-term stock reaction may be muted negative until more clarity emerges on the rectification process.