Styrenix Performance Materials Limited — Others, 01-05-2025: Action(s) taken or orders passed

Styrenix Performance Materials Limited has received a penalty order from the Income Tax Department for INR 2.99 Cr related to transfer pricing adjustments for AY 2021-22. The issue is under appeal with the ITAT, Ahmedabad, following a favorable Gujarat High Court ruling on similar cases in previous years. The company anticipates a positive resolution and does not expect any significant impact on its financials or operations currently.