Shree Cement Limited has disclosed receiving a draft assessment order from the Income Tax Authority for FY 2022-23, which could result in a potential tax demand of approximately ₹149.00 crores. The cement manufacturer made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, while indicating that no major impact is expected on its operations.

Draft Assessment Order Details

The company received the draft assessment order under section 144C(1) of the Income Tax Act, 1961 on March 31, 2026, from the Assistant Commissioner of Income Tax, Central Circle, Ajmer. The order pertains to FY 2022-23 and proposes disallowances and additions to the returned income as filed in the income tax return.

Financial Implications and Impact Assessment

The draft assessment order indicates a likely demand of approximately ₹149.00 crores, excluding any interest that may be applicable. However, the company has clarified that this potential demand would be adjusted against pending refunds that are due to the company. The actual demand will only be determined upon receipt of the final order.

Company's Response Strategy

Shree Cement, in consultation with its legal counsel, believes there will be no major impact on the company's financial, operational, or other activities due to this draft assessment order. The company maintains that the disallowances made in the draft order are not sustainable before the appellate authorities.

The company plans to take the following strategic actions:

• File objections against the draft assessment order
• Choose between filing objections to the Dispute Resolution Panel or appealing before the Commissioner of Appeals
• Leverage pending refunds to offset potential demand

Regulatory Compliance and Disclosure

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary S.S. Khandelwal has declared that the information provided is true, correct, and complete to the best of his knowledge and belief. The company has confirmed that no penalties, restrictions, or sanctions have been imposed pursuant to this communication, and no aberrations or non-compliances have been identified by the authority.

Shree Cement Limited has officially announced that its Board of Directors will convene on May 6, 2026, to approve the audited financial results for the quarter and year ending March 31, 2026. The meeting will also consider recommending a final dividend for the financial year 2025-26.

Official Board Meeting Announcement

The company has formally notified both the National Stock Exchange of India Limited and BSE Limited about the upcoming board meeting through an official communication dated March 24, 2026. The meeting is scheduled for Wednesday, May 6, 2026, and represents a crucial milestone for stakeholders seeking comprehensive insights into the company's Q4FY26 performance.

Trading Window Closure Protocol

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct, Shree Cement has announced the closure of its trading window. The trading window for dealing in the company's securities will remain closed from April 1, 2026, and will continue until 48 hours after the financial results announcement, extending up to May 8, 2026.

Regulatory Compliance Framework

The announcement has been made pursuant to Regulations 29(1) and 50(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by S.S. Khandelwal, Company Secretary, and submitted to both major stock exchanges where the company's securities are listed.

This scheduled board meeting demonstrates the company's commitment to maintaining transparency and regular communication with its investor community, providing them with timely updates on financial performance and potential dividend distributions for the concluded financial year.