Balkrishna Industries Limited has received an income tax assessment order for Assessment Year 2023-2024 with a significant tax demand of ₹52.11 crores. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI LODR Regulations.

Assessment Order Details

The income tax assessment order was passed by the Assistant Commissioner of Income Tax, Central Circle 3(2) Mumbai under section 143(3) read with section 144C(3) of the Income-Tax Act, 1961. The company received intimation of the order on March 19, 2026, at 7:26 p.m. (IST) via email.

Company's Response and Impact

Balkrishna Industries has clarified that there is no impact on the financial, operational or other activities of the company due to the alleged tax demand. The company emphasized that the assessment order is appealable and stated that it is in the process of contesting the order at the higher appellate level.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with sub-para 20 of Para A of Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has also been placed on the company's website at www.bkt-tires.com for stakeholder access.

The filing was signed by Vipul Shah, Director & Company Secretary and Compliance Officer, indicating the company's commitment to maintaining transparency with regulatory authorities and investors regarding material developments.

Balkrishna Industries has received formal notification from HDFC Asset Management Company Limited regarding a substantial increase in shareholding by HDFC Mutual Fund schemes. The disclosure, made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, reveals a strategic increase in the mutual fund's stake in the tire manufacturer.

Shareholding Increase Details

HDFC Mutual Fund schemes have increased their aggregate holding in Balkrishna Industries by 2.005% as of March 16, 2026. The total shareholding has risen from 7.156% to 9.161% of the company's paid-up equity share capital.

Transaction Structure

The acquisition was executed through open market purchases on March 16, 2026. HDFC Mutual Fund acquired 38,76,205 shares carrying voting rights, representing 2.005% of the total share capital. The transaction involved multiple HDFC Mutual Fund schemes managed by HDFC Trustee Company Limited.

Participating Fund Schemes

The shareholding increase involves eighteen different HDFC Mutual Fund schemes, including:

• HDFC BSE 500 ETF and HDFC BSE 500 Index Fund
• HDFC Business Cycle Fund and HDFC Value Fund
• HDFC Large and Mid Cap Fund
• HDFC NIFTY LARGEMIDCAP 250 INDEX FUND
• HDFC Manufacturing Fund
• HDFC NIFTY MIDCAP 150 ETF and INDEX FUND
• HDFC Multi Cap Fund and HDFC MNC Fund
• Various retirement and hybrid funds

Company Capital Structure

Balkrishna Industries' capital structure remains unchanged following the transaction. The company maintains its paid-up equity share capital at Rs. 38,66,34,380, comprising 19,33,17,190 equity shares of Rs. 2 each. No encumbrances, warrants, or convertible securities are involved in this transaction.

Regulatory Compliance

The disclosure was made by Dinesh Bhakade, Deputy Vice President - Compliance at HDFC Asset Management Company Limited, in accordance with SEBI regulations. The notification was sent to both BSE Limited and National Stock Exchange of India Limited, where Balkrishna Industries shares are listed. HDFC Mutual Fund confirmed it does not belong to the promoter or promoter group of Balkrishna Industries.