Prism Johnson Limited has completed the divestment of its entire equity shareholding in three wholly owned subsidiaries on March 30, 2026. The company informed stock exchanges about this corporate restructuring move under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Subsidiaries Divested

The three companies that ceased to be wholly owned subsidiaries of Prism Johnson Limited with effect from March 30, 2026 are:

• Venkataramiah Tile Bath Kitchen Private Limited (formerly TBK Venkataramiah Tile Bath Kitchen Private Limited)
• Samiyaz Tile Bath Kitchen Private Limited (formerly TBK Samiyaz Tile Bath Kitchen Private Limited)
• Tescon Buildcon Private Limited (formerly TBK Rangoli Tile Bath Kitchen Private Limited)

Financial Impact and Consideration

The divested subsidiaries had minimal financial contribution to the parent company's consolidated performance as on March 31, 2025:

All three subsidiaries reported zero revenue contribution to consolidated turnover, with their combined networth representing less than 0.01% of consolidated networth.

Transaction Details

The sale transactions were completed on March 30, 2026, with the company receiving a total consideration of Rs. 10.98 lakh across all three subsidiaries. The buyers are:

Key Buyer Profiles

Mr. Siddharth Khanna: An entrepreneur with MBA in Business Management, operating in the real estate sector developing residential and commercial projects in Navi Mumbai and surrounding areas under the brands Vishwa Green and TESCON.

Mr. Nitin Singrodia: A qualified Chartered Accountant with over 20 years of post-qualification experience in corporate financial planning, strategy, operations, governance, risk management, and capital structuring across sectors including gems & jewellery, building materials, and agriculture & infrastructure.

Regulatory Compliance

The transaction has been confirmed as a non-related party transaction, with both buyers having no connection to Prism Johnson's promoter group or group companies. The divestment was executed at arm's length and falls outside any scheme of arrangement, ensuring full compliance with regulatory requirements.

The company secretary Shailesh Dholakia signed the regulatory filing, confirming completion of all necessary disclosure requirements under SEBI regulations.

Prism Johnson Limited has received a significant tax assessment order from the Deputy Commissioner of Income Tax, Mumbai, raising a demand of Rs. 28,23,82,920 for Assessment Year 2024-25. The company disclosed this development on March 30, 2026, in compliance with SEBI listing regulations.

Assessment Order Details

The assessment order was issued on March 29, 2026, under Section 143(3) of the Income Tax Act, 1961, by the Deputy Commissioner of Income Tax, Central Circle 6(1), Mumbai. The tax demand has been raised under Section 156 of the Income Tax Act, 1961.

Reason for Tax Demand

The tax demand stems from the disallowance of certain expenses and other items during the assessment proceedings. The income tax authority has questioned specific deductions claimed by the company, leading to an increased tax liability for the assessment year under review.

Company's Response and Impact Assessment

Prism Johnson has expressed its disagreement with the assessment order, stating that the disallowed expenses and items should have been considered allowable by the assessing authority. The company is preparing to file an appeal against the order to contest the tax demand.

Regarding the financial impact, the company has indicated that it does not anticipate any material adverse effect on its financials, operations, or other business activities arising from this assessment order. This suggests that the company is confident about its position and expects a favorable outcome through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material developments that could potentially impact the company's operations.