On March 29, 2025, Tilaknagar Industries Ltd informed the stock exchanges about a significant regulatory development related to the company’s Income Tax Assessment for the Assessment Year (AY) 2024-25. The company disclosed the receipt of the Assessment Order issued by the Deputy Commissioner of Income Tax (DCIT) under Section 143(3) of the Income Tax Act, 1961.

This update is in accordance with the requirements of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations). The assessment order details the following key points:

Key Highlights:

• Issuance of Assessment Order: The company’s income for AY 2024-25 was assessed, and certain additions and disallowances were made to the returned income.

• Refund Granted: The tax department has granted a refund of Rs 3.43 crores under Section 156 of the Income Tax Act, 1961.

• Carry Forward Losses: The carry forward losses, including unabsorbed depreciation, now stand at Rs 32.79 crores as of March 31, 2024.

• No Material Financial Impact: Based on the company’s risk assessment process and applicable laws, Tilaknagar Industries does not foresee any material impact on its financial position or operations.

Financial and Operational Impact:

The company clarified that despite the assessment order and adjustments made by the Income Tax Department, there would be no significant financial impact on the company's operations or other activities. The refund and carry forward losses are primarily operational aspects, with no quantifiable financial impact expected in the short term.

Actions and Appeals:

The company has indicated its intention to pursue further appeals in relation to the assessment order, with the expectation of a favorable outcome. As of now, there have been no penalties or restrictions imposed following the communication from the Deputy Commissioner of Income Tax.

Conclusion:

The disclosure aims to provide clarity to investors and stakeholders regarding the company's position following the Income Tax Assessment. The company remains optimistic about the resolution of the matter during the appeal process and continues to operate without any immediate adverse effects from the order.

This regulatory disclosure complies with SEBI’s Master Circular (SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024) and the SEBI Circular dated February 25, 2025. It is also made in line with the Listing Regulations to maintain transparency and provide investors with timely information.

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