Flomic Global Logistics Faces ₹106.2 Cr Income Tax Demand for AY 2020-21 – Plans Appeal

Flomic Global Logistics Ltd (NSE SME), a leading 3PL provider with pan-India network, disclosed receiving a significant Income Tax demand notice on February 2, 2026. The ₹10.62 Cr order under Section 156 pertains to AY 2020-21, issued by the Assessment Unit.
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Management asserts the demand is "unwarranted and without merit," committing to "appropriate legal remedies" via appeal. Signed by CS Abhay Shah, the BSE filing confirms no immediate material impact on operations or finances.
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Flomic, with FY25 PAT ₹2.19 Cr (down from ₹9.48 Cr), operates from 18 branches handling freight forwarding, warehousing. Recent expansions target global supply chains amid logistics boom. Similar disputes common in sector; appeals often reduce demands.

Shares dipped post-disclosure (~₹220), but fundamentals intact with revenue CAGR ~40% FY22-25. Investors watch appeal outcome; tax litigations standard in filings.

Strategic response underscores governance amid growth trajectory.

Key Highlights

• Demand Amount: ₹106,181,024 (₹10.62 Cr).
• Assessment Year: 2020-21.
• Legal Basis: Section 156 of Income Tax Act, 1961.
• Issuing Authority: Income Tax Department Assessment Unit.
• Company Response: Appeal planned; considers demand meritless.
• Disclosure Date: February 2, 2026 to BSE.
• Impact: No material financial/operational effect.

Sources: MarketScreener, ScanX, Smart Investing