Jtekt India Limited — Important, 18-03-2025: General Updates

The Company has received a Final Assessment Order from the Income Tax Authority concerning its subsidiary, JTEKT Fuji Kiko Automotive India Limited, which was amalgamated with JTEKT India Limited in January 2024. The order relates to the fiscal year 2021-22, with disallowances totaling INR 16.33 million against reported income, resulting in a total demand notice of INR 5.66 million. Additionally, a Show Cause Notice for potential penalty proceedings has been issued. The Company plans to appeal this assessment. However, it does not anticipate any impact on its financial or operational activities as a result of this order. Investors should monitor the developments in the appeal process closely, as it could influence the Company's financial standing and outlook.