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Polycab Faces ₹327 Crore Tax Demand
4 Mar
Summary
- Polycab received a ₹327.45 crore income tax demand for FY23-24.
- The company believes errors led to an inflated demand amount.
- Polycab reported a 46.1% revenue increase in its third quarter.
Polycab India Ltd. announced on March 4, 2026, that it received an income tax demand notice for ₹327.45 crore. This demand is for the assessment year 2024-25, covering the financial year 2023-24.
The demand stems from an order by the Deputy Commissioner of Income Tax in Mumbai. The order includes disallowances and additions amounting to ₹41.87 crore. Polycab received this order on March 3, 2026.
The company is pursuing rectification, citing computational or clerical errors it believes inflated the demand. Polycab is filing an application for rectification and preparing an appeal against the additions.
Polycab expressed confidence that the tax demand will not materially impact its financial position or operations. The company is contesting its sustainability in law.
In its third quarter, Polycab saw significant growth. Revenue surged by 46.1% to ₹7,636.1 crore. EBITDA reached ₹966.7 crore, a 34.2% increase from the previous year.
