MPS Limited — Important, 05-03-2025: General Updates

The company has received an intimation order from the Income Tax Department for Assessment Year 2024-25, involving a tax demand of ₹173.37 lakh plus ₹16.73 lakh in interest, totaling ₹190.10 lakh. The demand arises from the disallowance of Foreign Tax Credit. The company is actively evaluating its options and plans to defend its position before the Appellate Authority, asserting that similar issues in prior years resulted in favorable outcomes. This scenario suggests a potentially favorable outlook, as the company believes the demand is unsustainable and likely to be dismissed. Investors should stay alert to developments as the company proceeds through the appeals process.