'Update on Income Tax Demand of INR46.03 Crore for AY 2022-23.'
As filed · CREDITACCESS GRAMEEN LIMITED has informed the Exchange regarding 'Update on Income Tax Demand of INR46.03 Crore for AY 2022-23.'.
What happened
FactCreditAccess Grameen Ltd. has announced that a tax demand order of ₹46.03 crore, dated March 18, 2024, related to the Assessment Year 2022–23, has been deleted. The company has requested that this intimation be recorded.
Why it matters
CapitSignal interpretationA tax demand is a contingent claim on cash: it either becomes a payment, or an appeal that ties up management attention and often a deposit.
Scale
- 0.9% of FY24 revenue
₹46.03 Cr stated in the filing against ₹5,166.67 Cr revenue (FY24, consolidated)
Source: financial_facts · xbrl
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Guidance
DelayedWe are guiding the next financial year for AUM growth of 20.0–25.0%, NIM of 12.8–13.2%, cost-to-income of 33.0–35.0%, credit cost of 3.0–4.0%, ROA of 4.0–4.8%, and ROE of 16.0–20.0% reflecting the structural opportunities ahead.
the INR 50,000 Crore AUM is something that we're talking about as of calendar year, not financial year.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Whether the company is appealing
- Amount deposited pending appeal
- Whether it is provided for in the accounts
- We are confident of building on this momentum towards our dedicated target of 25-30% foreign borrowings by FY2 (management committed by FY28)
- the INR 50,000 Crore AUM is something that we're talking about as of calendar year, not financial year. (management committed by FY28)
Evidence
- CREDITACCESS GRAMEEN LIMITED has informed the Exchange regarding 'Update on Income Tax Demand of INR46.03 Crore for AY 2022-23.'.(opens the original filing in a new tab)
- Earlier statement · Q4 FY26
- Latest statement · Q1 FY27
- Earlier statement · Q4 FY26
How CapitSignal classified this
- Reasoning:
- TAX_DEMAND base 62; +2 corroborating keywords; +5 quantified amount; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%