Dai-ichi Karkaria Limited has received an income-tax assessment order from the Assessment Unit, Income Tax Department for Assessment Year 2024-25. The order was passed under section 144 read with section 144B of the Income-tax Act, following scrutiny through CASS to examine issues of under-reported income.

Assessment Order Details

The assessment order dated March 6, 2026, was received via email on March 10, 2026. The company disclosed this information to BSE Limited on March 11, 2026, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Adjustments Made

The assessment order includes two primary adjustments to the company's financial position:

• Disallowance under Section 14A: Rs.94,018/- disallowed under section 14A read with Rule 8D
• Export Incentive Treatment: Rs.90,93,440/- accrual of export incentive receivable in financial statements considered as revenue receipt under section 28 (iiib) to (iiie)

Financial Impact

The assessment has resulted in a reduction of the company's accumulated loss by Rs.91,87,458/-. Notably, no quantification of penalty has been passed in the order, and no sanctions or restrictions have been imposed on the company.

Company's Response

Dai-ichi Karkaria Limited has indicated that it will file an appeal before the Income Tax Appellate Tribunal against the assessment order. The company has confirmed that no aberrations or non-compliances were identified by the authority in the communication, and no penalties were imposed pursuant to this assessment.

The disclosure was signed by Ankit Shah, Company Secretary & Compliance Officer, ensuring proper regulatory compliance with the listing requirements.

Dai-ichi Karkaria Limited has informed the stock exchanges about a credit rating downgrade by CRISIL Ratings Limited on March 4, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The downgrade affects the company's total bank loan facilities worth Rs 25 crore.

Rating Downgrade Details

CRISIL has downgraded both long-term and short-term ratings for the company's bank facilities. The rating agency cited moderation in the company's business risk profile due to reduced operating margins and an expected decline in operating revenue for fiscal 2026 against previous expectations.

Bank Facility Breakdown

The downgraded facilities are entirely with Axis Bank Limited and comprise two main components. The cash credit facility accounts for the larger portion of the total rated amount.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by promptly informing the stock exchanges about the rating action. The rating rationale and related documents have been made available on the company's website at dai-ichiindia.com/investors for stakeholder reference.

Rating Validity and Surveillance

CRISIL maintains continuous surveillance on all assigned ratings and reserves the right to revise ratings based on new information or changing circumstances. The current rating letter remains valid until March 31, 2026, after which a new rating letter would be required. If the company does not avail the proposed facilities within 180 days from the rating date, a fresh revalidation letter from CRISIL will be necessary.