Grovy India Ltd — Important, 14-01-2026: Company Update

Grovy India Limited received an order from the tax appellate authority upholding a prior assessment order for FY 2019-20. This pertains to an addition of ₹1 Crore related to unsecured loans, resulting in a total tax demand of ₹1.19 Cr (₹0.78 Cr tax and ₹0.41 Cr interest). The company is examining the order and believes the demand is without legal justification. Grovy India plans to appeal this decision and does not expect any material adverse impact on its financial or operational activities.