Styrenix Performance Materials Limited has received an income tax assessment order with a demand of INR 2,14,44,080 for Assessment Year 2024-25, the company disclosed in a regulatory filing. The order was issued by the Assessment Unit of the Income Tax Department under Section 143(3) read with Section 144B of the Income Tax Act pertaining to faceless assessment.

Assessment Order Details

The company received the income tax assessment order on March 25, 2026, at 11:01 PM. The order relates to the faceless assessment process implemented by the Income Tax Department for the Assessment Year 2024-25.

Company's Response and Impact Assessment

Styrenix Performance Materials has stated that the assessment order does not have any material impact on the company's financial position, operations, or other activities. The company emphasized that the order is appealable under the existing legal framework.

The management is currently in the process of evaluating the merits of the assessment order. Following this evaluation, the company plans to exercise its right to file an appeal before the Commissioner of Income Tax (Appeals) within the prescribed timelines as per the Income Tax Act.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform stock exchanges about material events and developments. The company communicated this information to both BSE Limited and National Stock Exchange of India Limited on March 26, 2026.

The filing was signed by Chintan Doshi, Manager – Legal & Company Secretary of Styrenix Performance Materials Limited, formerly known as INEOS Styrolution India Ltd. The company maintains its registered office at Vadodara, Gujarat.

Styrenix Performance Materials Limited has published its postal ballot notice in newspapers as part of regulatory compliance for the re-appointment of its Whole-time Director. The company published the notice in Business Standard (English) and Vadodara Samachar (Gujarati) newspaper editions dated March 13, 2026.

Newspaper Publication Compliance

In accordance with Sections 108 and 110 of the Companies Act, 2013 and Rule 22(3) of the Companies (Management and Administration) Rules, 2014, the company fulfilled its statutory obligation by publishing the postal ballot notice in newspapers. The notice was published simultaneously in both English and regional language newspapers to ensure wider accessibility for shareholders.

Postal Ballot Resolution Details

The postal ballot seeks approval for a special resolution regarding the re-appointment of Mr. Ravishankar Balakoteswararao Kompalli (DIN: 06458292) as Whole-time Director. The proposed re-appointment covers a period of 2 years, effective from April 01, 2026 up to March 31, 2028.

E-voting Schedule and Process

The company has arranged for voting through electronic mode only, in accordance with MCA circulars. The e-voting facility is provided by National Securities Depository Limited (NSDL), with CS Mr. Devesh A. Pathak (FCS 4559) appointed as the scrutinizer for conducting the postal ballot process.

Director Profile and Remuneration

Mr. Ravishankar B. Kompalli brings extensive experience of over 48 years in manufacturing styrenic polymers including ABS, SAN, PS and Styrene Acrylics. He graduated in Chemical engineering from Andhra University in 1977 and has worked with companies including UB group, Bayer ABS Ltd, Sumitomo (Indonesia), INEOS Styrolution and Shiva Performance Materials Ltd.

Regulatory Communication

The company has formally communicated the newspaper publication to both BSE Limited (Scrip Code: 506222) and National Stock Exchange of India Limited (Symbol: STYRENIX) through a letter dated March 13, 2026. The communication was signed by Chintan Doshi, Manager Legal & Company Secretary, ensuring compliance with stock exchange requirements.

The postal ballot notice is also available on the company's website at www.styrenix.com and on stock exchange websites for shareholder reference and transparency.