Bhansali Engineering Polymers received a penalty order of ₹79.66 lakhs from the Income Tax Department on September 16, 2026, related to Assessment Year 2018-19.

The National Faceless Assessment Centre (NFAC) issued the order under Section 270A of the Income Tax Act, 1961. The penalty arises from deductions claimed by the company for Research & Development expenses and other expenditure during the specified assessment year.

Regulatory Disclosure

Bhansali Engineering Polymers filed the disclosure with the BSE and NSE on September 17, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also complies with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Company Response

The company stated that the order does not have a material impact on its financial position, operations, or other activities. Bhansali Engineering Polymers noted that the order is appealable. Management is currently evaluating the merits of the matter and intends to file an appeal before the CIT Appeals, NFAC, within the prescribed timelines.

What the Numbers Show

The penalty amount of ₹79.66 lakhs represents a specific regulatory liability rather than an operational loss. By explicitly stating no material impact on financials, the company signals that this figure is immaterial relative to its overall balance sheet strength and cash reserves, though exact comparative figures were not disclosed in the filing.

Bhansali Engineering Polymers Limited held its 42nd Annual General Meeting (AGM) on July 21, 2026, through video conferencing to approve financial results and declare dividends. The meeting, chaired by Mr. Babulal M. Bhansali, Chairman and Managing Director, commenced at 11:30 a.m. and concluded at 12:23 p.m. The proceedings were conducted in accordance with the circulars issued by the Ministry of Corporate Affairs.

The shareholders adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors. The reports of the Statutory Auditor and the Secretarial Auditor contained no qualifications or adverse remarks. The Company Secretary, Mr. Ashwin M. Patel, confirmed that the Annual Report for FY26 had been forwarded to shareholders via email.

Dividend Declaration

The AGM confirmed the payment of three interim dividends of Re.1/- each, totaling 300%, for the financial year ended March 31, 2026. Additionally, the shareholders approved the declaration of a final dividend of Re.1/- each (100%) per equity share of Re.1/- each fully paid up for the same period.

Board Appointments and Ratifications

The meeting addressed the re-appointment of Mr. Dilip Krushnarao Shendre (DIN: 10566412), who retired by rotation. Shareholders approved his appointment as a Director and subsequently as Whole Time Director for a period of three years effective from April 1, 2026, to March 31, 2029. The AGM also ratified the remuneration payable to the Cost Auditors for the financial year 2026-27.

The facility of remote e-voting was provided in accordance with Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consolidated results of the remote e-voting and e-voting conducted during the AGM will be announced to the Stock Exchanges and hosted on the company's website.