Kalpataru Projects International Limited has informed stock exchanges that its branch office in the Kingdom of Eswatini received a tax assessment order from the Eswatini Revenue Service (ERS) on June 8, 2026. The assessment order pertains to the financial years 2022-23, 2023-24, and 2024-25.
The ERS demanded payment of tax and imposed a fine of SZL 1,717,787, approximately Rs 0.99 crore. The authority cited wrongful addition of offshore supply revenue and disallowance of certain expenses incurred by the Eswatini branch during the three-year assessment period as grounds for the order.
Kalpataru Projects International Limited stated that the branch intends to file objections against the order within the prescribed timelines. The branch has the right to contest the assessment under applicable tax regulations in Eswatini and is currently evaluating the order to determine the appropriate response.
Kalpataru Projects International Limited confirmed that the fine does not have any significant impact on its financial position, operations, or other activities. The intimation of the order was received by the company on June 8, 2026, at about 1:08 PM IST.
The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The infrastructure and engineering company communicated the details through separate filings to BSE Limited and the National Stock Exchange of India.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.