Kirloskar Oil Engines Limited has received a favorable Order-In-Appeal from the GST authorities, resulting in a significant reduction of tax demand and interest for the financial year 2020-21. The company disclosed this development under Regulation 30 of the SEBI Listing Regulations on 21st March 2026.

GST Order Details and Financial Impact

The Order-In-Appeal under Section 107(11) of the Maharashtra Goods and Services Tax Act, 2017 and Central Goods and Services Tax Act, 2017 was received on 20th March 2026 from the Office of Joint Commissioner of State Tax, Pune, Maharashtra. The order was passed partially in favor of the company, addressing issues related to short payment of GST and Input Tax credit disallowance for FY 2020-21.

Background and Regulatory Context

This favorable order comes in continuation to the company's earlier disclosure dated 13th February 2025. The original demand was raised through an Order dated 12th February 2025 in FORM GST DRC – 07 under Section 73(9) of the Maharashtra Goods & Services Tax Act, 2017. The demand pertained to alleged short payment of GST and disallowance of Input Tax credit for the financial year 2020-21.

Company's Assessment and Future Course

Kirloskar Oil Engines has stated that it does not foresee any material impact on its financial, operations or other activities due to this matter. The company is currently in the process of filing a second appeal before the appropriate authority within the prescribed timelines, indicating its intention to further contest the remaining demand.

Compliance and Disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including amendments thereunder, and in accordance with Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026. The information was signed by Farah Irani, Company Secretary and Compliance Officer, ensuring proper regulatory compliance.

Kirloskar Oil Engines Limited has completed regulatory disclosures for multiple investor meetings held in March 2026, maintaining strict compliance with SEBI regulations. The company has communicated outcomes to both BSE Limited and National Stock Exchange of India Limited following a series of virtual and physical meetings with major financial institutions and analysts.

March Meeting Schedule and Participants

The company organized multiple sessions accommodating different types of interactions with institutional investors across two separate dates:

Discussion Focus and Compliance

The management team focused discussions on providing an operational overview of the company during all sessions. The company emphasized that no unpublished price sensitive information was disclosed during any of the meetings, maintaining strict adherence to regulatory guidelines across all interactions.

Regulatory Framework and Communication

The meetings were conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including all amendments thereunder. The latest disclosure follows the company's earlier communications dated March 10, 2026 and March 11, 2026, demonstrating consistent transparency in investor relations activities.

Stock Exchange Details

The formal disclosures were communicated to both stock exchanges with the following trading details:

Corporate Authorization

The outcome disclosures were digitally signed by Farah Tehmton Irani, Company Secretary and Compliance Officer, with the latest communication signed on March 16, 2026. The company has requested both stock exchanges to take this information on record as part of standard disclosure procedures, ensuring transparency with all stakeholders and maintaining regulatory compliance across all major stock exchanges.