Styrenix Performance Materials Receives ₹1.03 Crore Tax Demand Order from Income Tax Appeals Commissioner

Styrenix Performance Materials Limited has received an order from the Commissioner of Income-tax (Appeals), NFAC (CIT(A)) confirming a significant tax demand for Assessment Year 2016-17. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tax Demand Details

The appellate authority has confirmed the original demand raised by the Assessing Authority, maintaining the financial liability imposed on the company. The order pertains to proceedings under section 250 of the Income Tax Act, 1961.

Parameter	Details
Demanding Authority	Commissioner of Income-tax (Appeals), NFAC
Tax Demand Amount	₹1,02,99,743.00
Components	Including interest and penalty
Assessment Year	2016-17
Original Order Date	December 08, 2018
Original Order Section	143(3) of Income Tax Act, 1961

Company's Response and Impact Assessment

Styrenix Performance Materials has clarified that the order does not have any material impact on the company's financial position, operations, or other activities. The company emphasized that this appellate order is challengeable under the existing legal framework.

The management is currently in the process of evaluating the merits of the matter and plans to file an appeal before the Income Tax Appellate Tribunal. The company intends to pursue this legal remedy within the prescribed timelines as per income tax regulations.

Regulatory Compliance

The disclosure was made pursuant to the company's obligations under SEBI listing regulations, ensuring transparency with stakeholders regarding regulatory actions. Styrenix Performance Materials, formerly known as INEOS Styrolution India Ltd., maintains its registered office in Vadodara, Gujarat, and operates in the petrochemicals sector.

The company's proactive disclosure demonstrates its commitment to regulatory compliance and keeping investors informed about developments that may have legal or financial implications, even when the immediate operational impact is assessed as minimal.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.23%	-0.35%	0.0%	-37.99%	-32.52%	+160.49%

Styrenix Performance Materials has released its financial results for the second quarter of fiscal year 2026, showcasing notable growth in sales volume and revenue. The company's performance indicates resilience in its operations despite ongoing challenges in certain markets.

Q2 FY26 Financial Highlights

Metric	Q2 FY26	YoY Change
Sales Volume	45.2 KT	+8.1%
Revenue	₹615.00 crores	N/A
PBDIT	₹81.80 crores	N/A
PBDIT Margin	13.30%	N/A

Styrenix Performance Materials reported a robust sales volume of 45.2 KT for the second quarter of FY26, marking an 8.1% increase year-over-year. This growth in volume translated to a revenue of ₹615.00 crores for the quarter. The company's Profit Before Depreciation, Interest, and Tax (PBDIT) stood at ₹81.80 crores, representing a PBDIT margin of 13.30%.

Operational Updates

The company provided insights into its ongoing operations and strategic initiatives:

ABS Expansion

Styrenix continues to progress with its Phase 1 ABS (Acrylonitrile Butadiene Styrene) expansion. This project is scheduled for completion between the middle and end of the next financial year, potentially boosting the company's production capacity.

Thailand Operations

The company's facilities in Thailand are currently operating at lower utilization rates. For the first half of the fiscal year, the Thailand operations reported a volume of 32 KT, indicating potential room for improvement in capacity utilization.

While the company has shown growth in sales volume, the lower utilization rates in Thailand suggest that Styrenix may be facing some challenges in certain markets or adjusting to global demand fluctuations. The ongoing ABS expansion project indicates the company's commitment to long-term growth and market positioning.