Prakash steelage Limited has submitted its mandatory certificate under Regulation 74 of the SEBI (Depositories and Participants) Regulations 2018 for the quarter and financial year ended March 31, 2026. The submission was made to both BSE Limited and the National Stock Exchange of India Limited on April 09, 2026.

Regulatory Compliance Details

The certificate submission relates to securities dematerialized during the quarter ended March 31, 2026, as required under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018. The company has furnished the necessary details to both stock exchanges where its shares are listed.

Registrar Confirmation

Bigshare Services Private Limited, serving as the company's Registrar and Transfer Agent, provided confirmation dated April 09, 2026. The registrar confirmed that securities received from depository participants for dematerialization up to March 31, 2026 were properly confirmed to the depositories.

The registrar's certificate confirms several key compliance aspects:

• Securities received for dematerialization were accepted or rejected and confirmed to depositories
• Securities comprised in the certificates have been listed on the stock exchange where earlier issued securities are listed
• Security certificates received for dematerialization have been mutilated and cancelled after due verification
• Names of depositories have been substituted in the register of members as registered owner within 15 days of receipt

Corporate Governance

The submission was signed by Hemant P. Kanugo, Whole Time Director (DIN: 00309894), demonstrating the company's commitment to regulatory compliance and corporate governance standards. The digital signature was applied on April 09, 2026.

Company Profile

Prakash Steelage Limited operates as a manufacturer of stainless steel pipes and tubes. The company maintains its registered office in Mumbai and is listed on both BSE and NSE with scrip codes 533239 and PRAKASHSTL respectively.

Prakash Steelage Limited has informed stock exchanges about receiving an income tax assessment order with a demand of Rs. 49.29 crore for Assessment Year 2024-25. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Assessment Order Details

The Income Tax Department's Faceless Assessment Unit issued the assessment order under Section 143(3) read with 144B of the Income Tax Act, 1961, followed by a tax demand order under Section 156. The assessment pertains to scrutiny for AY 2024-25 covering Financial Year 2023-24.

Nature of Disallowances

The tax demand of Rs. 49.29 crore stems from disallowances of certain expenditure and deductions claimed under various provisions of the Income Tax Act. The assessment order includes:

• Disallowed amounts from claimed expenditure and deductions
• Reversal of provisions previously made by the company
• Applicable interest on the disallowed amounts
• Erroneous tax payable components

Company's Response Strategy

Prakash Steelage Limited has outlined its approach to contest the assessment order. The company is preparing to file an appeal before Higher Appellate Forums within the prescribed timelines, based on consultations with its Chartered Accountant and tax consultants.

Financial Impact Assessment

Despite the substantial demand amount of Rs. 49.29 crore, the company maintains that it does not expect any impact on its financial operations or other activities. The management believes it has adequate factual and legal grounds to reasonably substantiate its position in the matter.

The company expects complete deduction of its claim through reversal of provisions and deletion of the entire demand raised by the tax authorities. This confidence stems from the company's assessment of having strong grounds to challenge the disallowances made in the assessment order.

Regulatory Compliance

The disclosure has been made in compliance with Para A (20) of Part A of Schedule III to the SEBI LODR regulations. The information has also been uploaded on the company's website at www.prakashsteelage.com , ensuring transparency with all stakeholders regarding this significant tax matter.