Uno Minda Ltd has informed stock exchanges about a tax order received by its subsidiary Uno Mindarika Private Limited (MRPL) from tax authorities in Gurugram. The disclosure was made under Schedule III of SEBI LODR Regulations on March 31, 2026.

Tax Order Details

The Office of the Dy. Excise & Taxation Commissioner, Gurugram issued an order to MRPL regarding excess Input Tax Credit (ITC) claimed in GSTR-3B compared to GSTR-2A for the tax period 2019-20. The order was received by MRPL on March 30, 2026 around 07:45 P.M. (IST).

Company's Response

MRPL has expressed disagreement with the findings of the tax order and plans to file an appeal against the same. The subsidiary believes the order is not justified and will pursue legal remedies available under the tax regulations.

Impact Assessment

According to the company's disclosure, Uno Minda does not foresee any material impact on its financial, operational, or other activities due to this tax order. The company appears confident in its position and expects to successfully challenge the demand through the appellate process.

Regulatory Compliance

The disclosure was made in compliance with Sub-Para 20 of Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The communication was signed by Tarun Kumar Srivastava, Company Secretary & Compliance Officer, and filed with both NSE and BSE on March 31, 2026.

This development highlights the ongoing compliance challenges faced by companies in the GST regime, particularly regarding Input Tax Credit reconciliation between different GST returns.

Uno Minda Limited's Board of Directors convened on March 30, 2026, approving strategic senior management restructuring and renewable energy investments totaling INR 750.20 lacs. The meeting, held from 12:00 noon to 01:45 P.M., addressed key organizational changes and sustainability initiatives in compliance with SEBI (LODR) Regulations, 2015.

Senior Management Restructuring

The Board approved significant role transitions for three senior executives, effective April 01, 2026. These changes reflect the company's strategic realignment and leadership development initiatives.

Leadership Profiles

Mr. Rakesh Kher brings over 40 years of diverse experience in strategy, business transformation, manufacturing, and project management. He holds a B.Tech. from REC Rourkela, M.Tech. from IIT Kharagpur, and MBA from FMS, Delhi. His association with Uno Minda began in 2004, where he has played a pivotal role in expanding the product portfolio and strengthening customer relationships.

Mr. Vishal Kaul is an accomplished business leader with over 25 years of experience across automotive aftermarket, consumer electronics, and industrial products. He holds a Post-Graduate Programme in Management from Indian School of Business, Hyderabad, and a Bachelor of Engineering (Mechanical) from V.J.T.I., University of Mumbai.

Mr. Vishnu Johri brings over 30 years of experience in operations, business development, and strategic management in automotive and manufacturing sectors. He holds a BE (Hons) in Mechanical Engineering from BITS, Pilani, and has held senior positions at Tata Motors, Maruti Udyog Ltd, Hero Motors, and LUMAX.

Renewable Energy Investment Initiative

The Board approved investments up to INR 750.20 lacs in Special Purpose Vehicles for sourcing renewable energy through wind and solar power. This initiative covers units located in Haryana and Tamil Nadu, demonstrating the company's commitment to sustainable operations.

SPV Performance Overview

The target SPVs are engaged in setting up, generating, and distributing renewable energy from power plants in India. For FY 2024-25, RC Green Powers Private Limited reported turnover of INR 565.25 lacs, while the other three SPVs reported nil turnover.

Strategic Impact and Implementation

The renewable energy investments will enable Open Access renewable power for the company and its subsidiaries' units in Haryana and Tamil Nadu, increasing their share of power consumption through sustainable sources. The acquisitions will provide up to 30% equity stakes in the respective SPVs based on proportionate capacity allocation.

The investment will be completed through cash consideration in one or more tranches, with an indicative completion timeline of Q2 2026-27. These transactions do not fall within related party transactions, and no governmental or regulatory approvals are required for the acquisitions.

These strategic decisions underscore Uno Minda Limited's focus on leadership development and environmental sustainability, positioning the company for enhanced operational efficiency and reduced carbon footprint across its manufacturing operations.