📈 Live Market Tracking
AI-Powered NSE Corporate Announcements Analysis
Loading analysis...
Prakash Steelage Receives SEBI Show Cause Notice for Alleged LODR Violations
Prakash Steelage Limited has received a Show Cause Notice (SCN) from SEBI dated April 21, 2026, regarding alleged violations of multiple Listing Obligations and Disclosure Requirements (LODR) regulations. The notice cites violations of Regulations 4, 23(9), 33, and 34, which generally pertain to corporate governance, related party disclosures, and financial reporting standards. This action is a continuation of an ongoing SEBI investigation that was previously disclosed by the company on March 28, 2024. The company is currently preparing a formal response to the Adjudicating Officer.
Key Highlights
Received SEBI Show Cause Notice dated April 21, 2026, under Rule 4(1) of SEBI Rules, 1995.
Alleged violations involve multiple LODR sections including Regulation 23(9) for related party disclosures and Regulation 33 for financial results.
The notice is part of an ongoing investigation first intimated to exchanges on March 28, 2024.
Company is required to furnish a response within permitted timelines to the Chief General Manager & Adjudicating Officer.
💼 Action for Investors
Investors should remain cautious as the notice suggests potential governance or reporting lapses; monitor for final SEBI orders and potential penalties. The outcome of this adjudication could impact the company's reputation and financial standing.
Loading analysis...
Prakash Steelage Receives Rs 49.29 Crore Income Tax Demand Notice
Prakash Steelage Limited has received a tax demand notice of Rs 49.29 crore from the Income Tax Department for the Assessment Year 2024-25. The demand arises from the disallowance of certain expenditure claims and deductions, specifically related to the reversal of provisions. The company has stated its intention to file an appeal before Higher Appellate Forums, asserting that it has strong legal grounds to contest the order. While the company expects the demand to be deleted, the significant amount necessitates close monitoring by shareholders.
Key Highlights
Total tax demand of Rs 49.29 crore including applicable interest for AY 2024-25.
Order issued by the Faceless Assessment Unit under Section 143(3) and Section 156 of the Income Tax Act.
Demand is based on disallowances of certain expenditures and reversal of provisions claimed by the company.
Company is in the process of filing an appeal with Higher Appellate Forums to challenge the assessment.
Management believes there are adequate factual grounds to substantiate their position and expects no final financial impact.
💼 Action for Investors
Investors should monitor the outcome of the legal appeal as the demand amount is substantial. It is important to track if the company makes any contingent liability provisions in upcoming quarterly results.
Loading analysis...
Prakash Steelage Q3 FY26 Revenue Up 27% YoY to ₹24.45 Cr; PAT Declines to ₹33.46 Lakhs
Prakash Steelage reported a 27.1% year-on-year growth in revenue from operations, reaching ₹2,445.12 Lakhs for the quarter ended December 31, 2025. Despite the revenue growth, Net Profit after Tax (PAT) fell significantly by 50.5% YoY to ₹33.46 Lakhs, down from ₹67.58 Lakhs in the same period last year. This decline is largely attributed to a sharp increase in the cost of materials consumed, which rose to ₹1,921.71 Lakhs from ₹930.37 Lakhs YoY. However, on a sequential basis, the company showed a recovery in profitability compared to the ₹8.72 Lakhs PAT reported in Q2 FY26.
Key Highlights
Revenue from operations increased to ₹2,445.12 Lakhs in Q3 FY26 from ₹1,924.20 Lakhs in Q3 FY25.
Net Profit after Tax (PAT) stood at ₹33.46 Lakhs, a decline from ₹67.58 Lakhs in the year-ago quarter.
Cost of materials consumed surged to ₹1,921.71 Lakhs, representing nearly 78% of total revenue.
Nine-month (9M FY26) revenue grew to ₹6,504.01 Lakhs compared to ₹5,526.20 Lakhs in 9M FY25.
Basic and Diluted EPS for the quarter decreased to ₹0.02 from ₹0.04 YoY.
💼 Action for Investors
Investors should be cautious as rising raw material costs are significantly impacting margins despite strong top-line growth. Monitor the company's ability to pass on these costs to customers in future quarters before making fresh positions.