STL Global Limited has disclosed that the Commissioner of Income Tax (Appeals) dismissed its appeal concerning an income tax demand of Rs 3.05 crores covering financial years 2015-16 to 2020-21. The company received the CIT (Appeal) order on January 31, 2026, marking an unfavorable outcome in its tax dispute proceedings.

Tax Appeal Details

The dismissed appeal was filed against assessment orders passed under section 147 read with section 143(3) of the Income Tax Act, 1961, along with demand notices issued under section 156. The CIT (Appeal) order under section 250 of the Income Tax Act confirmed the original assessment and demand.

Company's Response and Next Steps

STL Global expressed dissatisfaction with the CIT (Appeal) order and announced its intention to escalate the matter further. The company plans to file an appeal before the Income Tax Appellate Tribunal (ITAT) within the prescribed statutory period.

The company has maintained that this development will not materially impact its financial position, operations, or other business activities. This assessment suggests that STL Global has adequate provisions or expects a favorable outcome in higher appellate proceedings.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as prescribed under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring full transparency regarding the tax authority's order.

The matter represents a routine tax dispute resolution process, with the company exercising its right to seek relief from higher appellate authorities while maintaining that business operations remain unaffected.

STL Global Limited , a textile company, has reported its financial results for the first quarter ended June 30, along with several board resolutions. The company's performance and corporate actions were disclosed in a recent board meeting.

Financial Performance

STL Global reported a net loss of Rs 9.55 lakhs for Q1, compared to a loss of Rs 12.03 lakhs in the same quarter of the previous year. The company's revenue from operations increased marginally to Rs 2,511.73 lakhs from Rs 2,485.46 lakhs year-over-year.

Key Corporate Actions

The board of directors approved several important resolutions during their meeting:

1. Director Re-appointment: Mr. Sanjiv Kumar Agarwal has been re-appointed as Whole Time Director for a period of 5 years, effective from October 1, 2025, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

2. Secretarial Auditor Appointment: Mr. Vijay Bahadur, proprietor of M/s Vijay Mourya & Associates, has been appointed as the Secretarial Auditor for five years from FY 2025-26 to FY 2029-30, subject to shareholder approval.

3. AGM Date: The 28th Annual General Meeting is scheduled for September 30, 2025, to be held via video conference or other audio-visual means.

4. Book Closure: The Register of Members and Share Transfer Books will remain closed from September 24 to September 30, 2025 (both days inclusive) for the AGM.

5. E-voting: September 23, 2025, has been set as the cut-off date for e-voting for the AGM.

Management Commentary

While specific management comments were not provided, the financial results indicate a slight improvement in the company's performance compared to the same quarter last year, with a reduction in net loss despite marginally higher revenues.

STL Global Limited continues to operate primarily in the textile business, with only one reportable segment as per AS 108 - Operating Segments. The company's focus remains on its core operations as it navigates the current market conditions.

Investors and stakeholders will be looking forward to the upcoming AGM for further insights into the company's strategies and outlook for the remainder of the fiscal year.