NSE/BSE Codes: NSE: SAPPHIRE / BSE: 543397

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, providing an update on ongoing tax litigation matters concerning a wholly-owned subsidiary.

Involved Parties / Authorities:

  • Sapphire Foods India Limited (Listed Entity)
  • Gamma Pizzakraft Lanka (Private) Limited (Wholly-owned subsidiary in Sri Lanka)
  • Income Tax Department, Appeals [CIT(A)], Ranchi
  • Income Tax Appellate Tribunal (ITAT)

Date / Timeline of Event:

  • 2nd September 2025: Company initially informed about receiving a favorable order from CIT(A).
  • 12th August 2026: ITAT passed the order dismissing the Income Tax Department's appeal.
  • 13th August 2026: Company received the ITAT order.
  • 14th August 2026: Date of this regulatory disclosure to the exchanges.

Brief Description of Outcome / Dispute:

The Income Tax Department had filed an appeal with the ITAT challenging the favorable order received by the company from the Commissioner of Income Tax (Appeals) [CIT(A)], Ranchi. The ITAT has dismissed the appeal filed by the Income Tax Department and upheld the order passed by the CIT(A).

Impact of Outcome:

Financial Impact:

No material financial impact is disclosed in this filing. The document explicitly states "Not applicable" for sections pertaining to settlement terms, compensation/penalty paid, or the impact of settlement on the financial position of the listed entity.

Operational / Business / Strategic Impact:

No material operational, business, or strategic impacts are disclosed. The litigation was against the subsidiary, and the outcome is favorable, concluding this specific legal challenge.

Other Implications:

The favorable order from the ITAT concludes this specific appellate process in the company's favor, providing finality to this tax matter for the subsidiary.

Next Steps / Required Actions:

No further actions, deadlines, or next steps are mentioned in the disclosure, indicating this particular appellate proceeding is concluded.