Income Tax demand of about Rs 60.50 crore for AY 2024-25; company to appeal

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

+2.2%Reaction day

₹4.15

prior close

₹4.25

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.0%+1.1% vs market

Industrial Products peers, median of 134sector+0.6%+1.6% vs sector

On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 1.6 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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Sessions after the filingfrom the prior close

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Reaction day

+2.2+1.0+1.1+0.6+1.6

Next day

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-32.0+5.5-37.5+2.3-34.4

UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 134Pending

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AI summary

Company received an Income Tax demand of about Rs. 60.50 crore plus interest for Assessment Year 2024-25 under Section 156 of the Income Tax Act, along with an Assessment Order under section 143(3). Order dated June 20, 2026. The company says the demand is not maintainable and will appeal before CIT (Appeals). It claims no operational impact and that financial impact is limited to the demand and interest. The disclosure was filed on June 30, 2026, beyond the 24-hour SEBI window, which the company blames on internal administrative routing.

Likely market impact

A Rs 60.50 crore tax demand is material for a small-cap. Appeal outcome could affect finances; track CIT Appeals progress.