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Deepak Fertilisers and Petrochemicals Corporation Ltd. ( (IN:DEEPAKFERT) ) has shared an announcement.
Mahadhan AgriTech Limited, the wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited, has secured relief in income-tax penalty proceedings, with the Commissioner of Income Tax (Appeals), Mumbai, allowing its appeals for assessment years 2016-17 to 2018-19 and dropping penalties totalling Rs 382.81 crore. A separate appeal relating to assessment year 2015-16, involving a penalty of Rs 96.03 crore, remains pending, leaving some residual uncertainty, but the substantial reduction in potential tax liability is a positive development for the group’s balance sheet and provides clarity for investors and other stakeholders on a major contingent financial exposure.
More about Deepak Fertilisers and Petrochemicals Corporation Ltd.
Deepak Fertilisers and Petrochemicals Corporation Limited operates in the fertilisers and petrochemicals industry and, through its wholly owned subsidiary Mahadhan AgriTech Limited, is engaged in the manufacture and sale of agri-inputs for the Indian market. The group focuses on serving the agriculture sector with fertiliser products and related solutions, positioning itself as a key player in the domestic agri-chemicals value chain.
Average Trading Volume: 15,974
Technical Sentiment Signal: Buy
Current Market Cap: 152.4B INR
For an in-depth examination of DEEPAKFERT stock, go to TipRanks’ Overview page.