Hitachi Energy India Limited disclosed receiving a tax demand notice from the Income-tax Department for Rs 26.07 crore, comprising Rs 16.40 crore as income tax and Rs 9.67 crore as interest. The company confirmed the receipt of this notice on January 23, 2026, from the Assessment Unit.
The tax demand is associated with disallowances concerning interest on delayed receivables and group management fees, as per Hitachi Energy India. The company expressed its disagreement with the tax demand and interest charges, deeming them arbitrary and unsustainable under the law.
Hitachi Energy India intends to contest the order by lodging an appeal with the Income-tax Appellate Tribunal (ITAT) within the stipulated timeframe. Additionally, the company recently reported robust financial results for the quarter ended September 30, 2025.
The company’s net profit surged over fivefold to Rs 264 crore compared to the previous year, with revenue climbing by 18% year-on-year to Rs 1,832.5 crore. Moreover, the Earnings before interest, tax, depreciation, and amortization (EBITDA) more than doubled to Rs 299.3 crore, leading to a significant improvement in the EBITDA margin to 16.3%.
Shares of Hitachi Energy India Limited closed at Rs 16,504.10 on the BSE, experiencing a decline of 2.12% for the day.
