Tega Industries Limited has informed the Exchange about Update on wholly owned material subsidiary.
TEGA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tega Industries informed exchanges that its wholly owned material subsidiary, Tega McNally Minerals Limited (TMML), received an income tax assessment order from the Assistant Commissioner of Income Tax, Kolkata. The order, dated March 30, 2026, pertains to Assessment Year 2018-19 (April 2017 to March 2018), which is a period before Tega acquired TMML in March 2023 through an NCLT-approved resolution plan. The total tax demand, including interest, is approximately ₹121.14 crore. The company has stated there is no material impact on financials, operations, or other activities, and TMML plans to appeal the order. The company also noted it had previously received a favorable order on similar matters for another assessment year.
Despite the large tax demand amount, the company expects no material financial impact and will appeal. Shareholders should monitor the appeal outcome, but the pre-acquisition nature of the demand and management's confidence limit near-term risk to the stock.