Sterlite Technologies Limited has received an income tax demand order worth ₹36.83 crores from the Assessment Unit of the Income Tax Department, as disclosed in a regulatory filing on January 1, 2026. The company received the order on December 31, 2025, and has announced its intention to challenge the demand through an appeal process.

Details of the Tax Demand Order

The demand order carries the reference number ITBA/AST/S/156/2025-26/1084278320(1) and was issued under section 143(3) read with section 144C(13) and section 144B of the Income-tax Act, 1961. The order pertains to various transfer pricing adjustments that the tax authorities have made to the company's assessments.

Nature of Tax Adjustments

The adjustments identified by the tax authorities cover multiple areas of the company's international transactions with related parties. The primary areas of adjustment include:

• Marketing, HR, administrative, and software development services from various overseas related parties
• Interest on loans and advances
• Corporate guarantee and recovery of SBLC fees
• Interest on outstanding receivables

According to the company's disclosure, these adjustments represent differences in interpretation of tax law rather than any violation of legal requirements.

Company's Response Strategy

Sterlite Technologies has emphasized that the demand order is appealable and that the company possesses a strong legal case supported by precedents of favorable orders in similar situations. The company plans to file an appeal before the Income Tax Appellate Tribunal within the stipulated 60-day period.

Financial Impact Assessment

The company has clarified that while the demand order amounts to ₹36.83 crores, there will be no immediate financial impact on its operations. This is because the company intends to contest the order through the established legal appeal process, which typically provides a stay on the demand during the pendency of the appeal.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material developments that could potentially affect the company's financial position.

Sterlite Technologies Limited has announced that India Ratings and Research (Ind-Ra) has affirmed the credit rating for its wholly owned subsidiary, Sterlite Tech Cables Solutions Limited. The company disclosed this information to stock exchanges in compliance with regulatory requirements under SEBI listing obligations.

Credit Rating Details

India Ratings and Research has affirmed the ratings on Sterlite Tech Cables Solutions Limited's bank loan facilities with the following parameters:

Facility Size Adjustment

The current rating affirmation covers bank loan facilities worth ₹3,080.00 million, representing a reduction from the previous facility size of ₹3,380.00 million. This adjustment in facility size demonstrates active management of the subsidiary's debt portfolio while maintaining the same credit rating level.

Rating Significance

The IND AA-/Stable rating with IND A1+ designation indicates a strong credit profile for Sterlite Tech Cables Solutions Limited. The stable outlook suggests that India Ratings expects the subsidiary to maintain its current credit quality over the rating horizon. The rating agency has made detailed rationale available through their official press release for stakeholders seeking comprehensive analysis.

Regulatory Compliance

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement demonstrates the company's commitment to maintaining transparency with investors and regulatory authorities regarding material developments affecting its subsidiaries.