SHREE CEMENT LIMITED — Important, 01-04-2025: Updates

Shree Cement Limited has received a draft Assessment Order from the Income Tax Authority under section 144C(1) of the Income Tax Act for FY 2021-22, proposing disallowances and additions amounting to ₹2,652 crore to the company's reported income. This could result in a potential demand of approximately ₹160 crore, excluding interest, when the final order is passed. However, the company believes there will be no significant impact on its financial, operational, or other activities, as the disallowances are considered unsustainable before appellate authorities. The company plans to file objections against this draft order, allowing the option to appeal to the Dispute Resolution Panel or the Commissioner of Appeals. Shareholders should watch closely as the situation develops, given the potential financial implications and ongoing legal consultations.