Inspirisys Solutions Limited has secured a favorable outcome in its VAT litigation matters, with the Kerala Value Added Tax Appellate Tribunal dropping demands totaling ₹1.27 crores across two financial years. The company announced this development through a regulatory filing under SEBI's disclosure requirements on March 10, 2026.

Tribunal Decision Details

The Kerala Value Added Tax Appellate Tribunal, Ernakulam, heard the matter on January 29, 2026, and delivered its final order on March 10, 2026. The tribunal's decision resulted in the complete dismissal of VAT demands that had been pending against the company.

Background of the Litigation

The litigation originated when the Joint Commissioner (Intelligence), State Goods and Services Tax Department, Ernakulam, filed appeals against Order Nos. KVATA-933/2017 and 934/2017. These orders were originally passed by the Deputy Commissioner (Appeals) IV, Ernakulam, on September 23, 2017, and pertained to the financial years 2013-2014 and 2014-2015.

Regulatory Compliance

The company disclosed this development in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows the company's earlier intimation dated August 14, 2023, regarding pending material litigations that could impact the company's operations.

Case Resolution Summary

The tribunal's decision represents a complete resolution of both VAT matters in favor of Inspirisys Solutions Limited. The final order was received by the company on March 10, 2026, at 10:54 A.M. (IST), formally concluding the litigation proceedings that had been ongoing since the original assessments for the financial years 2013-14 and 2014-15.

Inspirisys Solutions Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, along with a key senior management appointment. The Board of Directors approved these developments at their meeting held on February 6, 2026.

Financial Performance Overview

The company demonstrated strong revenue growth across both standalone and consolidated operations for the quarter ended December 31, 2025.

Nine Months Performance

For the nine months ended December 31, 2025, the company maintained its growth trajectory with significant improvements in key financial metrics.

Earnings Per Share Analysis

The company's earnings per share showed substantial improvement across all categories for both quarterly and nine-month periods.

Senior Management Appointment

The Board approved the appointment of Mr. Noriyuki Okayasu as Senior Advisor – Strategic Initiatives, categorized as Senior Management Personnel under SEBI regulations.

Mr. Okayasu brings extensive global business and IT strategy experience, having served in senior leadership roles at Fuji Bank, Mizuho Bank, and Mizuho Information & Research Institute Inc. London Branch. He previously served as a Commissioner on the Board of PT Mitrais, Indonesia.

Segment-wise Performance

The company's three business segments showed varied performance during Q3FY26, with Services segment leading revenue generation.

Regulatory Compliance and Publication

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published its standalone and consolidated unaudited financial results in newspapers on February 7, 2026.

The publication was signed by S. Sundaramurthy, Company Secretary & Compliance Officer, ensuring full regulatory compliance with SEBI listing requirements.

Exceptional Items and Regulatory Impact

The company recognized exceptional items of ₹381 lakhs during the quarter and nine months ended December 31, 2025, related to the statutory impact of new Labour Codes implemented by the Government of India effective November 21, 2025. These codes consolidate 29 existing labour laws into four unified Labour Codes covering wages, industrial relations, social security, and occupational safety.

Tax Provisions and Credits

During Q3FY26, the company recognized Minimum Alternate Tax credit of ₹1,423 lakhs under section 115-JB of the Income Tax Act, 1961, relating to the period up to March 31, 2025. The company expects to utilize this credit against future taxable profits within the specified period based on internal management assessment.