Paradeep Phosphates (PARADEEP) — Announcement

Paradeep Phosphates announced that the Assistant Commissioner of Income Tax, Bhubaneswar, quashed a ₹20.61 crore tax demand for FY 2020-21 and issued a refund of ₹20.57 crore, resolving a material litigation that previously pressured cash flows. This outcome eliminates a key overhang on the company's financial position and improves liquidity, directly benefiting shareholders by removing a source of uncertainty and restoring funds.

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About Paradeep Phosphates Limited (PARADEEP)

Chemicals · Fertilizers & Agrochemicals · Listed on NSE

Market Cap: ₹12,505.8 Cr P/E: 30.3

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