Rane (Madras) Limited has received a revisory order from the Principal Commissioner of Income Tax, Chennai, providing partial relief in ongoing tax proceedings. The company disclosed this development under Regulation 30 of SEBI LODR regulations on February 28, 2026.

Revisory Order Details

The Principal Commissioner of Income Tax issued a revisory order under Section 263 of the Income Tax Act, 1961, dated February 27, 2026. This order partly sets aside the previous assessment order with specific directions to the Assessing Officer for fresh proceedings.

Key Directions and Relief Granted

The revisory order addresses two main areas of dispute with favorable directions for the company:

Trademark Fees Disallowance (₹5.12 crores): The Principal Commissioner has directed the Assessing Officer to consider the position taken in other group entities, indicating a more favorable review approach.

Defined Benefit Plan Disallowance (₹2.49 crores): The Principal Commissioner has accepted the company's submission and directed the Assessing Officer to verify and allow this issue, providing significant relief.

Financial Impact Reduction

The revisory order has substantially reduced the company's expected financial exposure. The revised expected financial impact stands at ₹2.66 crores, excluding applicable interest and penalty. This represents a significant improvement from the previous assessment proceedings.

Company's Response and Next Steps

Rane (Madras) Limited is awaiting the fresh order from the Assessing Officer following the Principal Commissioner's directions. The company has committed to provide necessary clarification and justification for the allowability of trademark fees expenditure and defined benefit plan costs.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI LODR and the SEBI Master Circular dated January 30, 2026. The company has declared that all information provided is true, correct, and complete to the best of its knowledge and belief. This update follows the company's previous disclosure dated January 10, 2026, regarding the initial show cause notice.

Rane Madras Limited has announced the availability of its earnings conference call transcript following the investor call held on February 17, 2026. The company has fulfilled its regulatory disclosure obligations by making the transcript publicly accessible through its official website.

Earnings Call Details

The earnings conference call was conducted on Tuesday, February 17, 2026, at 15:00 hrs IST. The call covered the company's financial performance and business developments for the reporting period.

Regulatory Compliance

Rane (Madras) Limited has ensured compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by making the transcript available to investors and stakeholders. The company communicated this development to both BSE Limited and National Stock Exchange of India Ltd through its official correspondence dated February 24, 2026.

Investor Access

The transcript is now available in the investor information section of the company's website at ranegroup.com. This accessibility ensures transparency and provides stakeholders with detailed insights into the company's performance discussions and management commentary from the earnings call.

The company's proactive disclosure approach demonstrates its commitment to maintaining transparent communication with investors and adhering to regulatory requirements for listed entities.