Sukhjit Starch & Chemicals Limited has informed stock exchanges about receiving an Income Tax assessment order that proposes a demand of ₹4.46 crore including interest for Assessment Year 2024-25. The company disclosed this development under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Assessment Order Details

The company received the assessment order under Section 143(3) of the Income Tax Act from the Assessment Unit of the Income Tax Department on March 24, 2026. The order pertains to Assessment Year 2024-25 and includes both the principal demand amount and applicable interest components.

Company's Response and Legal Position

Sukhjit Starch & Chemicals has stated that based on the factual position and the company's assessment, the demand is not maintainable under the provisions of the Income Tax Act. The company is preparing to file an appeal against the order before the concerned appellate authorities.

The management has expressed confidence in their legal position, stating that they do not foresee any liability to crystallize on account of this assessment order. The company maintains that there will be no impact on its financial position or operational activities due to this development.

Regulatory Compliance

The disclosure was made in compliance with SEBI Circular No. SEBI/HO/CFD/CFDPOD-1/P/CIR/2023/123 dated July 13, 2023, which mandates listed companies to inform exchanges about significant regulatory actions. The communication was signed by Aman Deep Setia, Senior Vice President (Finance) and Company Secretary, and filed electronically with both BSE and NSE on March 25, 2026.

Financial Impact Assessment

According to the company's assessment, the Income Tax demand will not have any material impact on its financial operations. The company's confidence stems from their belief that the demand lacks legal merit under the current provisions of the Income Tax Act, and they expect a favorable outcome through the appellate process.

Sukhjit starch & chemicals Limited has issued a clarification to stock exchanges regarding recent price movement in its shares, responding to an inquiry received on March 02, 2026. The company addressed concerns about unusual trading activity through a formal communication dated March 03, 2026.

Regulatory Compliance and Disclosure

The company emphasized its consistent compliance with regulatory requirements in its response to the exchanges. Key aspects of their clarification include:

The management stated that the company has always been prompt in sharing necessary information and developments that may impact operations, performance, or price behavior, including all unpublished price sensitive information with stock exchanges.

Market Factors Behind Price Movement

The company attributed the recent price and volume movement to external market factors beyond management control. According to the clarification, the movement may be due to:

• Market perception and analysis about the industry
• Prevailing capital market conditions
• General market sentiment

The management clarified that it does not have any new material information to share with shareholders beyond the company's financial data and other information already available in the public domain.

Commitment to Future Disclosures

Sukhjit Starch & Chemicals reiterated its commitment to regulatory compliance and transparency. The company assured that it will continue to make appropriate disclosures as and when any price-sensitive events occur or when information is in the interest of shareholders, pursuant to SEBI LODR Regulations 2015.

The clarification was digitally signed by Aman Deep Setia, Senior Vice President (Finance) and Company Secretary, on March 03, 2026, and submitted to both BSE Limited and National Stock Exchange of India Limited through e-filing.