Orient Cement Limited has disclosed receiving an order from the Income Tax Authority under section 143(3) read with section 144C(3) of the Income Tax Act, 1961 for Assessment Year 2023-24. The company announced this development through a regulatory filing dated April 01, 2026, stating its intention to file an appeal against the order before the competent authority.

Tax Demand Details

The Income Tax Authority has raised a substantial demand against Orient Cement Limited as outlined in the assessment order:

Transfer Pricing Issues

The primary component of the tax demand stems from transfer pricing adjustments totaling Rs. 54,33,14,302. These adjustments relate specifically to transactions involving the transfer of power from the company's captive unit to its manufacturing unit. The company maintains that the order contains errors on various grounds and is subject to rectification.

Company's Response Strategy

Orient Cement Limited has outlined its approach to address the tax order:

• Filing an appeal before Income Tax Appellate Authorities within prescribed timelines
• Seeking rectification of what it considers an erroneous order
• Expecting significant reduction in tax demand upon rectification
• Restricting deduction disallowance under section 80IA to Rs. 9,15,22,051 as originally claimed

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received the order on March 31, 2026, and promptly informed the stock exchanges. The information has also been made available on the company's official website at orientcement.com.

Financial Impact Assessment

While the initial demand appears substantial at Rs. 52.40 crore, the company's expectation of reducing this to approximately Rs. 3.20 crore through rectification and appeal processes suggests confidence in its position. The company intends to contest the order through proper legal channels, indicating its belief that the transfer pricing adjustments and related tax implications can be successfully challenged.

Orient cement Limited announced significant corporate governance updates following its Board of Directors meeting held on March 25, 2026. The company has appointed Ms. Pranjali Dubey as Company Secretary and Compliance Officer while simultaneously authorizing three Key Managerial Personnel for materiality determination and stock exchange disclosures.

Board Meeting and Appointment Details

The Board meeting, which commenced at 5:00 p.m. and concluded at 5:40 p.m. on March 25, 2026, approved the appointment based on the recommendation of the Nomination and Remuneration Committee. The appointment has been made in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Authorized Key Managerial Personnel

Pursuant to Regulation 30(5) of SEBI Listing Regulations, the company has authorized three Key Managerial Personnel to determine materiality of events and make disclosures to stock exchanges effective April 7, 2026.

Professional Background

Ms. Pranjali Dubey brings substantial expertise to her new role with approximately 10 years of experience in corporate law compliance, secretarial, and legal areas. She is an Associate Member of the Institute of Company Secretaries of India (ICSI), New Delhi, and holds graduate degrees in Commerce and Law from Devi Ahilya Vishwavidyalaya (DAVV), Indore.

Currently serving as Deputy Manager (Secretarial) of the Cement business, Ms. Dubey joined Adani Green Energy in 2022 before transitioning to the Cement Vertical in November 2023. Her career includes positions with several reputed corporates including Ruchi Soya Group, Pumarth Group, Intertrust Group (Luxembourg Jurisdiction), and Sanghi Industries Limited as Company Secretary.

Areas of Expertise and Regulatory Compliance

Ms. Dubey demonstrates proficiency across multiple regulatory frameworks and corporate functions, encompassing compliance management under Companies Act 2013, SEBI Listing Regulations, Insider Trading Regulations, Takeover Regulations, and FEMA and RBI Regulations. Her expertise includes active participation in mergers and acquisitions, corporate restructuring, due diligence, and debt-listed entity compliances.

The appointment and authorization have been made pursuant to applicable SEBI regulations, with all disclosure requirements fulfilled as prescribed under SEBI Circular bearing reference no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026, dated January 30, 2026. The intimation has been uploaded on the company's website at www.orientcement.com , ensuring transparency and regulatory compliance.