Honda India Power Products received an income tax assessment order for Assessment Year 2023-24, resulting in a tax demand of ₹29.82 crore including interest.

The company disclosed the development on September 9, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order was passed by the Income Tax Authority under section 143(3) read with section 144C (13) and section 144B of the Income Tax Act.

Assessment Details

The tax demand arises from the disallowance of certain expenditures claimed by the company during the assessment process. The authority issued the communication on September 9, 2026, at 8:47 am.

Company Response

Honda India Power Products stated that the order has no material impact on its financial, operational, or other activities. The company noted that similar issues pertaining to previous years have already been decided in its favour by higher courts.

The management confirmed it will file an appeal before the Income Tax Appellate Tribunal within the prescribed time limit.

What the Numbers Show

The tax demand of ₹29.82 crore represents a specific liability arising from expenditure disallowances rather than a broad-based reassessment of revenue or profit margins. The company’s reliance on favorable precedents from higher courts for similar past issues suggests a strategic legal defense rather than an immediate cash outflow obligation, pending the outcome of the appellate process.

Honda India Power Products appointed Mr. Hideki Sawauchi as Senior Advisor-Purchasing effective August 31, 2026.

The company designated Mr. Sawauchi as Senior Management Personnel (SMP) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was filed with the Bombay Stock Exchange and the National Stock Exchange of India Limited on August 31, 2026.

Appointment Details

Mr. Sawauchi brings 28 years of experience in procurement and sourcing. His expertise covers purchasing, supply chain operations, cost optimization, supplier development, localization, and strategic sourcing.

The term of appointment follows the company policy applicable to all Japanese expatriates. The filing confirmed no violations or contraventions associated with the appointment.

Regulatory Compliance

The disclosure complies with Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Sunita Ganjoo, Company Secretary and Compliance Officer, signed the document.