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

-2.8

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 had received a demand order of Rs 283.35 lakh from the State Tax Officer, Jajpur, Odisha for FY 2021-22 over alleged suppression of taxable turnover. The company appealed, and on June 18, 2026 received a modified order reducing the demand to Rs 22.30 lakh, a reduction of about 92 percent. The company is now exploring further legal remedies against the remaining demand.

Likely market impact

Positive update as the disputed tax demand fell sharply, but a residual demand of Rs 22.30 lakh remains under further challenge.