Polycab India Limited has received a significant income tax assessment order that has resulted in a demand of Rs 327.45 crores for the financial year 2023-24. The company disclosed this development to stock exchanges on March 4, 2026, in compliance with SEBI listing regulations.

Assessment Order Details

The Office of the Deputy Commissioner of Income-Tax, Mumbai issued the assessment order under Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2024-25. The order was received by the company on March 3, 2026.

Company's Response Strategy

Polycab India, after consultation with its tax advisors, has identified discrepancies in the demand calculation. The company believes the tax demand of Rs 327.45 crores is significantly higher than the actual additions of Rs 41.87 crores made in the assessment order due to computational and clerical errors.

The company has outlined a two-pronged approach to address this matter:

• Rectification Application: Filing an application under Section 154 of the Income Tax Act to correct computational and clerical errors
• Appeal Process: Initiating an appeal against the additions made in the assessment order under applicable provisions of the Income Tax Act, 1961

Financial Impact Assessment

Despite the substantial demand amount, Polycab India maintains that the tax demand is not sustainable in law based on advice from its tax consultants. The company has stated it does not expect any material impact on its financial position or operations due to this assessment order.

This disclosure follows the company's earlier intimations to exchanges dated December 22, 2023, January 30, 2025, and April 1, 2025, indicating ongoing interactions with tax authorities. The company continues to work through the prescribed legal channels to resolve the matter while maintaining its operational focus.

Polycab India Limited has scheduled an institutional investor and analyst meeting for March 06, 2026, as disclosed in a regulatory filing dated March 02, 2026. The company submitted this information to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

The upcoming investor engagement is structured as follows:

Regulatory Compliance

The disclosure fulfills the company's obligation to inform exchanges and stakeholders about scheduled investor interactions. Polycab India Limited emphasized that the meeting arrangements are subject to potential changes and modifications.

During the investor meeting, the company will share corporate and earnings presentations that are already hosted on its website, along with other publicly available information. This approach ensures transparency while maintaining compliance with disclosure requirements.

Company Information

The filing was signed by Manita Carmen A. Gonsalves, Vice President-Legal and Company Secretary (Membership No.: A18321), on behalf of Polycab India Limited. The company operates from its registered office in Halol, Panchmahal, Gujarat, and maintains its corporate office in Mumbai, Maharashtra.

This investor meeting represents part of Polycab India Limited's ongoing engagement with institutional investors and analysts to maintain transparent communication regarding corporate developments and financial performance.