Hitachi Energy India Limited has received an income tax assessment order for Assessment Year 2022-23, resulting in a significant tax demand that the company intends to challenge through legal channels.

Tax Assessment Details

The company received the assessment order on January 23, 2026, at 03:39 pm IST from the Assessment Unit of the Income-tax Department. The order was passed under multiple sections of the Income-tax Act, 1961, including Section 143(3) read with Section 144C(13) and Section 144B, along with a notice of demand issued under Section 156.

Nature of Alleged Violations

The income tax authorities have raised concerns regarding specific financial practices of the company. The assessment order pertains to alleged disallowances in two key areas:

• Interest on delayed receivables
• Group management fee

These disallowances form the basis of the substantial tax demand imposed by the authorities.

Company's Response and Legal Position

Hitachi Energy India has strongly contested the tax demand, characterizing it as fundamentally flawed. The company's management has assessed the order based on factual circumstances and prevailing legal provisions, concluding that both the tax demand and associated interest are problematic on multiple grounds.

The company's official position states that the demand is arbitrary, unjustified, and unsustainable under current tax law. This assessment suggests that Hitachi Energy India believes it has strong grounds for challenging the order through appropriate legal channels.

Planned Legal Action

In response to the assessment order, the company has outlined its intention to pursue formal legal remedies. Hitachi Energy India plans to file an appeal with the Income-tax Appellate Tribunal (ITAT) within the timeline permitted under tax regulations.

This disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring transparency with stakeholders regarding material developments affecting the company's financial position.

Hitachi Energy India Limited has formally notified stock exchanges about its upcoming board meeting and analyst conference call scheduled for February 5, 2026, to discuss the company's third quarter financial performance for the period ended December 31, 2025.

Board Meeting and Results Announcement

The company's Board of Directors will convene on Thursday, February 5, 2026, to consider and approve the unaudited financial results for Q3FY26. As per regulatory requirements under Regulation 47 of the SEBI Listing Regulations, the company will publish these results in newspapers following the board meeting.

Analyst Conference Call Details

Pursuant to Regulation 30 of SEBI Listing Regulations, Hitachi Energy India has organized a webcast for investors and analysts to discuss the company's financial and operational performance. The conference call will feature key leadership members providing insights into the quarterly results.

Leadership Participation

The analyst call will be addressed by three senior executives:

• N Venu - Managing Director & CEO
• Ajay Singh - Chief Financial Officer
• Poovanna Ammatanda - General Counsel, Company Secretary & Compliance Officer

Access Information for Participants

The company has provided comprehensive access details for both domestic and international participants. The presentation webcast will be available through a dedicated link, while multiple dial-in options ensure broad accessibility.

Dial-in Numbers

Domestic Access:

• Universal Dial-in: +91 22 6280 1226, +91 22 7115 8235
• India Toll Free: 18001201221

International Toll Free Options: The company has arranged toll-free numbers for multiple countries including the United States (18667462133), United Kingdom (08081011573), Germany, Australia, Canada, and several Asian markets including China, Japan, Singapore, and South Korea.

Company Information

Hitachi Energy India Limited operates from its registered and corporate office located at Brigade Opus, Bengaluru. The company maintains investor relations through dedicated communication channels and is listed on both BSE (Scrip Code: 543187) and NSE (Scrip Symbol: POWERINDIA).

The notification was signed by Poovanna Ammatanda, General Counsel and Company Secretary, and filed with both stock exchanges on January 21, 2026, ensuring compliance with disclosure requirements well in advance of the scheduled events.