Rane Madras Limited has announced that its Board of Directors will convene on May 06, 2026, to review and approve the company's audited financial results for the fourth quarter and full year ending March 31, 2026. The announcement was made through a formal communication to both BSE and NSE on March 31, 2026, ensuring compliance with regulatory requirements.

Board Meeting Details

The upcoming board meeting has been scheduled in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The primary agenda includes consideration and approval of both standalone and consolidated audited financial results for Q4FY26.

Trading Window Closure

In line with the company's insider trading code, Rane (Madras) Limited has implemented a trading window closure to regulate trading activities during the financial results consideration period. This measure ensures compliance with insider trading regulations and maintains market integrity.

Company Information

Rane (Madras) Limited, with its registered office located at "Maithri", No. 132, Cathedral Road, Chennai - 600 086, operates under CIN L65993TN2004PLC052856. The company maintains its corporate website at www.ranegroup.com and can be reached at +91-44-2811 2472.

The formal intimation was signed by S Subha Shree, Secretary of Rane (Madras) Limited, and submitted online to both stock exchanges as part of the company's ongoing commitment to regulatory compliance and transparent corporate governance practices.

Rane (Madras) Limited has disclosed receiving an assessment order from the Income Tax Department that has resulted in a tax demand of Rs 3.12 crores, excluding applicable penalties. The automotive component manufacturer informed stock exchanges on March 28, 2026, about the development under SEBI LODR regulations.

Assessment Order Details

The Income Tax Department's Assessment Unit at the National Faceless Assessment Centre issued the order on March 27, 2026, under Section 143(3) read with 144C(3) of the Income Tax Act, 1961. The assessment pertains to Assessment Year 2023-24, covering Financial Year 2022-23.

Key Disallowances and Adjustments

The company had previously received a show cause notice regarding disallowance of Rs 24.01 crores relating to treatment of gain from derivative assets and trademark fee expenditure. Additionally, a transfer pricing order under Section 92CA(3) proposed an upward adjustment of Rs 2.60 crores for Stand By Letter of Credit commission.

In the final assessment order, the authority made the following determinations:

Trademark Fee Dispute

The Income Tax Department disallowed the trademark fee expenditure of Rs 10.37 crores paid to Rane Holdings Limited for the use of the "Rane" trademark. The authority treated this payment as capital expenditure rather than allowing it as a revenue expense, which formed a significant portion of the tax demand.

Penalty Proceedings Initiated

Along with the assessment order, the Income Tax Department has separately initiated penalty proceedings by issuing a notice dated March 27, 2026, under Section 274 read with Section 270A of the Income Tax Act, 1961. This indicates potential additional financial implications beyond the current tax demand.

Company's Response Strategy

Rane (Madras) Limited has indicated that it will contest the assessment order before the appropriate authority within prescribed timelines. The company stated it will consult with tax advisors and consultants to determine the best course of action for challenging the order.

This development follows the company's earlier disclosure on February 21, 2026, when it had informed exchanges about receiving the initial show cause notice from the Income Tax Department. The company has maintained compliance with SEBI disclosure requirements throughout the assessment process.