Key Quantitative Figures

The Company has received orders from the Commissioner of Income Tax (Appeals), Pune, under Section 250 of the Income-tax Act, 1961, for seven assessment years. The details of the orders are:

| Assessment Year | Order Date | Amount (₹) | Outcome |

| 2017-18 | September 8, 2026 | 2,08,24,611 | Appeal dismissed |

| 2018-19 | September 8, 2026 | 4,03,75,969 | Appeal dismissed |

| 2019-20 | September 8, 2026 | 7,26,78,730 | Appeal dismissed |

| 2020-21 | September 8, 2026 | 8,69,02,910 | Appeal dismissed |

| 2021-22 | September 8, 2026 | 14,20,42,704 | Appeal partly allowed |

| 2022-23 | August 28, 2026 | 19,63,30,624 | Appeal partly allowed |

| 2023-24 | September 8, 2026 | 6,77,61,887 | Appeal partly allowed |

Note: The amount for AY 2022-23 (₹19,63,30,624) is the disputed demand as per the CIT(A) order dated August 28, 2026. The Company had previously disclosed a subsequent rectification order dated August 14, 2026 (received August 26, 2026) which revised the balance payable to ₹31,73,28,734 for this assessment year.

The aggregate disputed demand across all seven assessment years amounts to ₹62,69,17,435.

Dates of Action

The orders were received on September 08, 2026 and September 09, 2026.

Parties Involved

  • Authority: Commissioner of Income Tax (Appeals), Pune
  • External Advisors: External tax experts (unspecified)

Purpose and Rationale

The disclosure is a mandatory regulatory requirement under SEBI LODR Regulation 30. The orders represent the first appellate level outcome in ongoing income-tax proceedings that were previously disclosed by the Company.

Financial and Operational Impact

The Company states that these matters are under further statutory appellate proceedings and "do not have any impact on the ongoing operations of the Company." The financial and accounting implications, if any, will be assessed and accounted for in accordance with applicable accounting standards.

Forward-Looking Actions

The Company intends to exercise its legal recourse by filing appeals before the Hon'ble Income Tax Appellate Tribunal (ITAT) within prescribed timelines. Based on consultation with external tax experts, the Company believes it has adequate factual and legal grounds to substantiate its position and expects substantial relief in the appellate proceedings.

Additional Context

This disclosure is in continuation of previous intimations, including reference no. KDL/SE/036/2026-27 dated August 26, 2026.