BlackBuck Limited received an order dated July 24, 2026, from the Income Tax Department dropping penalty proceedings initiated for Assessment Year 2018-19 under Section 270A of the Income-tax Act, 1961. The penalty has been determined at NIL following the deletion of an underlying quantum addition relating to Employee Stock Option Plan (ESOP) expenditure by the Commissioner of Income Tax (Appeals) / National Faceless Appeal Centre (NFAC). This resolution eliminates any potential financial liability associated with the earlier assessment proceedings.

The penalty proceedings were originally triggered after the Assessing Officer disallowed ESOP expenditure of ₹10,30,00,000 claimed under Section 37(1) of the Act in an assessment order dated June 1, 2021. The department had alleged under-reporting in consequence of misreporting of income. However, the CIT(A)/NFAC deleted this addition vide an order dated March 9, 2026, relying on the precedent set in Biocon Ltd. vs. DCIT [2020] 121 taxmann.com 351 (Kar.). Consequently, with the underlying addition removed, the basis for the penalty no longer existed.

BlackBuck Limited disclosed the development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and SEBI Circular No. SEBI/HO/CFD/CFDPoD-2/P/CIR/2025/25 dated February 25, 2025. The company confirmed that the information provided is true, correct, and complete to the best of its knowledge and belief.

What the Numbers Show

The resolution of this matter confirms that the company’s treatment of ESOP expenses aligns with judicial precedents, specifically the Biocon case. By deleting the ₹10.3 crore addition, the tax authorities have effectively validated the company’s earlier claim under Section 37(1). This outcome prevents a retrospective increase in taxable income for AY 2018-19 and ensures that no penalty accrues on the disputed amount. For investors, this removes a lingering litigation risk and potential cash outflow associated with the assessment year, reinforcing the stability of the company’s past financial reporting.

Barun Pandey, Company Secretary & Compliance Officer of BlackBuck Limited, signed the disclosure. The company stated that it has taken the order on record and no further action is required as the matter stands concluded in its favour. The order carries no adverse financial impact on the company’s current operations or balance sheet.

BlackBuck Limited has scheduled a conference call for analysts and investors on Wednesday, July 29, 2026, at 5:00 PM IST to discuss its un-audited financial results for the quarter ended June 30, 2026. This disclosure is critical for market participants seeking clarity on the logistics technology firm's performance in Q1 FY27, as the call will provide management commentary alongside the numerical data. The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring timely dissemination of material information to stakeholders.

The earnings discussion coincides with a Board Meeting of BlackBuck Limited, also held on July 29, 2026, where directors are set to consider and approve the un-audited standalone and consolidated financial results for the quarter. This alignment ensures that the financial figures discussed during the investor call have received formal board approval, maintaining regulatory compliance and governance standards. The company previously intimated the scheduling of this board meeting in a letter dated July 21, 2026.

Conference Call Details

The conference call will run from 5:00 PM to 6:00 PM IST. Investors and analysts can access the meeting via the link provided on the company’s website. Detailed information regarding the call is available at https://blackbuck.com/investor-relations.html . Participants are encouraged to submit queries in advance via email to investor.relations@blackbuck.com or blackbuck@raadhicapital.com .

Management Participation

Key executives from BlackBuck Limited will lead the discussion, providing insights into the operational and financial performance of the quarter. The management team participating includes:

• Rajesh Kumar Naidu Yabaji, Chairman, Managing Director and CEO
• Satyakam GN, Chief Financial Officer

Raadhi Capital will act as the facilitator for the event. Representatives Nikhil Raina and Vinita Pandya from Raadhi Capital will be present to manage the proceedings. The company, formerly known as Zinka Logistics Solutions Limited, continues to engage with its investor base through structured communication channels as it reports its progress in the digital freight space.

What the Numbers Show

While specific financial metrics for Q1 FY27 are not disclosed in this notice, the timing of the earnings release places focus on the company's ability to sustain growth momentum in the logistics sector. The approval of both standalone and consolidated results indicates a comprehensive review of the company's financial health, including any inter-company transactions or subsidiary performances that may impact the consolidated bottom line. Investors will look for details on revenue growth, profitability margins, and cash flow positions during the upcoming call.