In an exchange filing, the company said the assessment order pertains to Assessment Year 2022–23, corresponding to Financial Year 2021–22. The order was passed under Section 143(3) read with Section 144C(13) of the Income-tax Act, 1961, along with a notice of demand issued under Section 156 of the Act, including applicable interest.
Epigral stated that the assessment order was issued in the ordinary course of assessment proceedings and that it has adequate factual and legal grounds to substantiate its position. The company added that there is no financial impact on its financials, operations, or other business activities arising from the order.
The company further said it believes the demand is not maintainable and is in the process of filing a rectification application and an appeal against the order within the prescribed timelines.
The company received the demand notice on 31 December 2025, while the official announcement was made on 1 January 2026, after market hours.
Epigral, formerly known as Meghmani Finechem, is a leading integrated manufacturer of chemicals in India. Epigral’s Dahej facility is a backward and forward integrated and automated complex with a well-planned infrastructure. In India, Epigral is the first to set up an epichlorohydrin plant and the largest capacity plant of CPVC. Epigral is also a leading manufacturer of caustic soda, caustic potash, chloromethanes, hydrogen peroxide, chlorine and hydrogen.
The company reported 36% fall in consolidated net profit to Rs 51 crore on a 7% fall in total revenue to Rs 589 crore in Q2 FY26 as compared with Q2 FY25.