Godrej Agrovet Limited has disclosed to stock exchanges that it has received a notice from the Income Tax Department requiring payment of Rs. 41,36,010/- on account of late payment interest and levy. The company made this disclosure under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Income Tax Notice Details

The Office of the Assistant Commissioner of Income Tax issued a Notice under Section 226(3) of the Income Tax Act, 1961, to HDFC Bank Limited for payment on behalf of Godrej Agrovet Limited. The notice was received by the company on February 23, 2026.

Company's Response and Impact Assessment

Godrej Agrovet Limited has assessed that there is no material impact on the financial operations or other activities of the company due to the demand made in the notice. The company has clarified that no violations or contraventions have been committed or alleged to be committed in this matter.

Corrective Action

The company has indicated that it is in the process of filing a correction statement with the Income Tax Authority to address the issues raised in the notice. This suggests that the company believes the demand may be based on incorrect information or calculations that can be rectified through proper documentation.

Regulatory Compliance

The disclosure was made to both BSE Limited and National Stock Exchange of India Limited as required under the listing regulations. The communication was signed by Vivek Raizada, Head – Legal & Company Secretary & Compliance Officer, ensuring proper corporate governance protocols were followed in making this announcement to stakeholders.

Godrej Agrovet Limited announced the launch of TAKAI, a new insecticide specifically developed for rice crops on February 7, 2026. The product launch was disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Product Overview and Technology

TAKAI is powered by Cyclapryn technology developed by ISK Japan and is designed to combat key rice pests, particularly Stem Borer and Leaf Folder. The insecticide provides comprehensive protection when applied at specific growth stages of the rice crop.

Application Protocol and Effectiveness

TAKAI follows a strategic two-stage application protocol designed to maximize crop protection during critical growth periods. The insecticide should be applied at a dose of 160 ml during 15-30 Days After Transplant (DAT) and again at 40-60 DAT, providing an extensive protection window for the rice crop.

The timing addresses specific pest behavior patterns. During the early vegetative stage (15-30 DAT), Stem Borer damages plants in ways that are difficult for farmers to detect early. Later, during the reproductive stage (40-60 DAT), both Stem Borer and Leaf Folder attack the plant, with Leaf Folder feeding on leaf tissue by folding leaves, thereby reducing the plant's photosynthetic area and crop growth.

Market Impact and Expansion Plans

The company is currently in the process of obtaining label approval for TAKAI in additional crops including Maize, Chilli, Cabbage, Soybean, Chickpea and Sugarcane. This expansion would significantly broaden the product's market reach beyond rice cultivation.

Industry Context and Farmer Requirements

According to N.K. Rajavelu, CEO – Crop Protection Business, Godrej Agrovet, the company's pre-launch rice farmer survey revealed that 77% of farmers value quick pest control, long-lasting effects, and improved crop health. TAKAI addresses these requirements through rapid feeding cessation and sustained pest control over extended periods.

The launch comes at a critical time for Indian agriculture, as rice is grown as a multi-season crop – Kharif, Rabi and Summer – in warm, humid and waterlogged conditions that make crops ideal targets for pest attacks throughout the year. While India is the world's largest producer of rice with production of 150.18 million tonnes, its per-hectare yield remains significantly low at approximately 2.90 tonnes/hectare compared to the global best of 5.00 tonnes/hectare.

Strategic Partnership and Market Position

The collaboration with ISK Japan for Cyclapryn technology represents Godrej Agrovet's strategy of leveraging international research expertise to strengthen its portfolio across key crops. Sunil Kataria, MD & CEO, Godrej Agrovet, emphasized that effective pest management determines the success of Indian rice farmers, and TAKAI enables farmers to protect their crops while improving overall crop health through solutions that offer quick control and longer-duration effectiveness.