Asian Tea & Exports Ltd has informed the stock exchanges that the Deputy Commissioner of State Tax, Bureau of Investigation (South Bengal), Government of West Bengal, has issued a Report on Closure of Investigation Process. The report concludes an inspection initiated on November 21, 2025, under Section 67(1) of the West Bengal Goods and Service Tax Act, 2017, at the company's registered office. The company received the closure report, dated June 30, 2026, on July 17, 2026.

The inspection focused on the company's disclosure of exempt supplies for the financial years 2022-23, 2023-24, 2024-25, and the period up to October 2025. During the investigation, authorities noted that the Registered Taxable Person (RTP) had initially failed to provide details of exempt supplies. Authorized representatives appeared for personal hearings on multiple dates in January and February 2026 to submit documents and clarify the position.

The company clarified that it supplies tea (HSN 0902) as taxable supply at a 5% tax rate, while pulses are exempt from tax. The authorities verified the exempt supply figures declared in GSTR 9 and GSTR 3B returns against the Annual Financial Statements. The inspection confirmed that the exempted goods were purchased and sold in bulk, with the amounts in the returns matching the financial statements.

The table below details the exempt supply figures verified during the investigation:

Following the reconciliation of documents, including Bills of Supply and weighing slips, the authorities accepted the explanation. The inspection report noted that since the point raised regarding exempt supply was reconciled, there is no tax liability. Consequently, the company stated that there is no material impact on its financial, operational, or other activities due to the issuance of the closure report.

Asian Tea & Exports Limited reported a net profit of ₹17.89 lakh for the financial year ended March 31, 2026, a decline from ₹28.39 lakh in the previous year, as total expenses increased. The company's board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

Total revenue from operations for the year stood at ₹5,452.20 lakh, an increase from ₹5,256.35 lakh in the prior year. However, total expenses rose to ₹5,420.66 lakh from ₹5,173.11 lakh in the previous year. Finance costs for the year increased significantly to ₹153.25 lakh from ₹95.03 lakh. For the quarter ended March 31, 2026, the company recorded a net profit of ₹0.51 lakh on revenue from operations of ₹1,954.33 lakh.

Financial Performance

The basic earnings per share (EPS) for the year ended March 31, 2026, was ₹0.07, compared to ₹0.11 in the previous year. The auditors, M/s Agarwal Kejriwal & Co., issued an unmodified opinion on the financial results.

Standalone Financial Results (Year Ended March 31, 2026)

Board Decisions

The board appointed M/s Yash & Associates, Chartered Accountants (FRN: 32522E), as the internal auditor for the financial year 2026-27, succeeding M/s Arya Agarwal & Associates. The appointment was made based on the recommendation of the Audit Committee. Additionally, the board adopted a Policy on Prevention of Sexual Harassment (POSH) at the workplace and constituted an Internal Complaints Committee at the company head office.

Segment Reporting

The company operates primarily in the domestic and international segments dealing with tea and other components. For the year ended March 31, 2026, the international segment reported revenue of ₹5,152.20 lakh, while the domestic segment reported ₹284.03 lakh. The company's total assets as of March 31, 2026, stood at ₹6,853.24 lakh.