Go digit general insurance Limited has received reaffirmation of its corporate credit rating from CRISIL Ratings Limited. The rating agency maintained the company's AA- rating while keeping it under 'Rating Watch with Developing Implications' as of March 31, 2026.

Rating Details and Implications

CRISIL has reaffirmed its AA- (pronounced as double A minus) rating for Go Digit General Insurance Limited. According to the rating agency, issuers with this rating are considered to have a high degree of safety regarding timely servicing of debt obligations, with debt exposures carrying very low credit risk.

The Rating Watch designation reflects an emerging situation which may affect the credit profile of the rated entity. CRISIL maintains continuous surveillance of all assigned ratings and reserves the right to withdraw or revise ratings based on new information or changing circumstances.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by informing both major stock exchanges about the rating reaffirmation. The disclosure was made pursuant to Regulation 30 and Para A of Part A of Schedule III and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The rating letter from CRISIL has been annexed to the regulatory filing, and the information is also available on the company's investor relations website at www.godigit.com/investor-relations .

Credit Rating Significance

The AA- rating places Go Digit General Insurance in a strong credit category, indicating robust financial health and low default risk. The rating reflects the company's ability to meet its debt obligations in a timely manner, which is crucial for stakeholder confidence and business operations.

CRISIL's rating methodology involves continuous monitoring and assessment based on various financial and operational parameters. The rating agency emphasizes that its ratings are based on information provided by the issuer and from sources it considers reliable, though it does not guarantee completeness or accuracy of such information.

The reaffirmation provides stakeholders with updated assessment of the company's creditworthiness, though the Rating Watch status indicates potential developments that warrant close monitoring by investors and creditors.

Go Digit General Insurance Limited has disclosed receiving a substantial income tax demand order of ₹3,84,43,19,480 from the Assistant Commissioner of Income-Tax for Assessment Year 2023-24. The company received this order on 25th March 2026 at 6:24 p.m. from the Office of the Assistant Commissioner of Income-Tax, Central Circle 6(2), Mumbai, under section 156 of the Income Tax Act, 1961.

Tax Demand Breakdown

The total demand comprises the principal tax amount along with interest charges under the Income Tax Act.

Primary Disallowances

The income tax authority made several adjustments to increase the company's taxable income, focusing on three main areas:

• Claims Provisions: Disallowance of provision of claims Incurred But Not Reported (IBNR) and claims Incurred But Not Enough Reported (IBNER)
• TDS on Expenses: Disallowance under Section 40(a)(ia) for non-deduction of TDS on certain expenses
• Reinsurance Premium: Disallowance under Section 40(a)(i) for non-deduction of TDS on reinsurance premium paid to non-resident insurance companies

Company's Response Strategy

The company emphasized that these disallowances primarily relate to industry-wide issues affecting the insurance sector. Go Digit General Insurance is currently evaluating legal advice on the implications of the order and intends to pursue an appeal or other appropriate legal actions against the assessment.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has indicated it will evaluate and make appropriate disclosures in its financial statements if required, based on the advice of its tax advisors.

Go Digit General Insurance has stated that based on legal counsel, it expects to challenge this assessment through the appropriate appellate channels while continuing to assess the potential financial implications of the order.