Tax demand reduced from Rs 283.35 lakh to Rs 22.30 lakh after appeal

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TRF · price

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

-1.7%Reaction day

₹235.04

prior close

₹242.80

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-2.5% vs market

Industrial Products peers, median of 130sector+0.8%-2.5% vs sector

On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 2.5 pts less 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

-1.6

10m

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15m

-2.9

30m

-3.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.7+0.8-2.5+0.8-2.5

Next day

+5.8+0.1+5.6+0.8+5.0

+4.5+0.0+4.5+1.0+3.5

+4.2-0.6+4.8+0.3+4.0

+1.1-0.9+1.9+0.3+0.8

+2.1+0.2+1.9+0.3+1.8

+0.4+1.2-0.8+1.1-0.8

15d

+7.6+0.7+6.9+1.1+6.5

-0.5-0.4-0.1-0.9+0.4

-1.7+5.2-6.9+1.2-2.9

-8.4+5.4-13.7+2.8-11.2

UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 130Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

TRF Limited received a tax demand of Rs 283.35 lakh from the State Tax Officer, Jajpur, Odisha in December 2025 for FY 2021-22, alleging suppression of taxable turnover. The company appealed, and on June 18, 2026, the Appellate Authority issued a modified order reducing the demand to Rs 22.30 lakh. The company is pursuing further legal remedies against the remaining demand.

Likely market impact

Positive for shareholders. Tax liability cut by over 90 percent from Rs 283.35 lakh to Rs 22.30 lakh, easing cash outflow pressure.