Bombay Dyeing and Manufacturing Company Ltd on Monday (May 4) said it has received an assessment order from the Assessment Unit of the Income Tax Department for Assessment Year 2023–24, enhancing its taxable income by ₹574.35 crore.
The enhanced income has been set off against available tax losses. The company said a tax demand notice of ₹2,26,760 has been raised, while penalty proceedings have also been initiated separately by the Income Tax Department. Bombay Dyeing said the order was received through a system-generated email on Monday, May 4, 2026.
The company said income was enhanced on account of transfer pricing adjustments, disallowance of deductions claimed with respect to real estate income offered in earlier years, and certain other expenses.
The company said the order has not impacted its operations or other activities, except to the extent of the financial impact disclosed. It added that it will take necessary action, including legal remedies available under the Income Tax Act.
Third Quarter
The company reported a 12.6% increase in revenue for Q3 FY25, with sales reaching ₹414.8 crore, up from ₹369.2 crore in the same quarter last year.
The company swung to a positive EBITDA of ₹15.9 crore, compared to a loss of ₹24.2 crore in Q3 FY24, reflecting a significant turnaround in operational performance. EBITDA margin stood at 3.8%. The results demonstrate progress in improving profitability despite market challenges.
Bombay Dyeing is an Indian textile company headquartered in Mumbai, India. It operates as a subsidiary of the Wadia Group and is one of India’s largest producers of textiles. Its current chairman is Nusli Wadia.
