Powerica Limited Gets Rs 15.98 Crore Income Tax Refund After Section 154 Rectification:

Powerica Limited has secured an income tax refund of Rs 15.98 crore, pertaining to the Assessment Year 2025-26, following the issuance of a rectification order by the Income Tax Department under Section 154 of the Income Tax Act, 1961.

In a disclosure dated November 13, 2026, the company informed the stock exchanges about the receipt of a rectification order dated July 2, 2026, on November 2, 2026. The order was issued by the Office of the Deputy Commissioner of Income Tax, Circle 3(4).

The Income Tax Department reviewed the intimation issued under Section 143(1), the rectification order, the company's rectification application and the supporting documents and records. After verification, the department accepted the company's contentions and carried out the necessary rectification. As a result, a total income tax refund of Rs 15.98 crore has been determined as payable to the company.

The company has clarified that the order will have no material impact on its financials, operations or other activities during the current financial year. Furthermore, it apologised for the delay in informing the stock exchanges. It explained that the delay occurred because the email communication received from the tax authorities on November 2, 2026, was inadvertently missed while the company was engaged in finalising its financial results for the quarter and half-year ended September 30, 2026.

Powerica Limited has made the entire aforementioned disclosure to NSE and BSE vide an Intimation dated November 13, 2026, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.