CG Power and Industrial Solutions Limited — Important, 21-04-2026: Disclosure of material issue

CG Power (CGPOWER) faces an increased tax dispute. The Income Tax Department issued a revisionary order for Assessment Year 2022-23, adding a **Rs. 21.43 Cr disallowance** for unabsorbed depreciation loss.

**The Issue:** This new disallowance comes on top of an existing disputed tax demand of **Rs. 188.79 Cr** for the same year, which the company had already appealed. Total disputed amount for AY22-23 now stands at **Rs. 236.74 Cr**.

**Impact:** This could lead to a higher tax outflow if the company's appeals are unsuccessful.

**Company's Response:** CG Power is evaluating the new order and plans to file an appeal. The company believes it has a "fair chance of succeeding" and expects these disallowances to be reversed.