Syngene International Limited — Important, 27-03-2025: Updates

Syngene International Limited has provided an update on ongoing tax litigations. The company faces a revised demand from the income tax authorities totaling ₹118.90 Cr for the assessment year 2018-19 due to adjustments made in prior assessments. Previously, a demand of ₹96.39 Cr had been raised following a decision made by the National Faceless Assessment Centre, which the company has challenged through an appeal that is currently in progress. The management believes it has strong grounds on which to contest the demands and anticipates that the financial impact may not be material given the appeal's merits. Shareholders should monitor these developments closely, as outcomes could significantly affect the company's future financial positioning.