Powerica Limited has received a favorable rectification order from the Income Tax Department, resulting in an income-tax refund of ₹15,98,56,158. This follows a review of the company’s application and supporting documents related to an income-tax demand for Assessment Year 2025-26. The order, dated July 2, 2026, and received November 2, 2026, confirms the company’s contentions were correct, leading to the determination of this substantial refund.
Significant Income Tax Refund Secured
Powerica Limited has announced a positive development regarding its income tax assessment for the Assessment Year 2025-26. Following an earlier disclosure on June 29, 2026, concerning an income tax demand, the company has now received a rectification order that will result in a substantial refund.
Rectification Order Details
An order dated July 2, 2026, and received by the company on November 2, 2026, under Section 154 of the Income-tax Act, 1961, has been issued by the Income Tax Department. This order confirms that the contentions raised by Powerica Limited, based on the verification of its rectification application and supporting documents, were found to be correct. Consequently, the necessary rectification has been carried out.
Financial Impact
The rectification process has led to the determination of a total income-tax refund amounting to ₹15,98,56,158. This refund is now payable to the Company, representing a positive impact on its cash flow and financial position.
Disclosure and Apology for Delay
The company has made this disclosure as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Powerica Limited has also apologized for a delay in intimating this information, attributing it to the high-priority workload of finalizing financial results for the quarter and half-year ended September 30, 2026, which led to missing the email communication from tax authorities.
Information in Annexures
Details as required under SEBI Listing Regulations, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are provided in Annexure – A. Further details, pursuant to the Industry Standards note on Regulation 30 of Listing Regulations issued vide SEBI Circular No. SEBI/HO/CFD/CFD-POD-2/P/CIR/2025/25 dated February 25, 2025, are enclosed in Annexure – B.
Source: BSE
