Penalty of about INR 1.80 crore on subsidiary by State Tax authority in Gujarat

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Price reactionminutes from the announcement price · days from the prior close

-0.4%Reaction day

₹422.10

prior close

₹422.10

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.6%+0.3% vs market

Pharmaceuticals peers, median of 159sector-0.4%+0.1% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 0.1 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-0.4-0.6+0.3-0.4+0.1

Next day

-0.2-1.5+1.4-1.3+1.2

+0.0-1.8+1.8-1.3+1.3

+1.4-0.6+2.0-0.4+1.8

+5.4+0.8+4.7+0.1+5.4

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+6.6-0.2+6.8-0.7+7.3

15d

+8.0+1.1+6.9+0.9+7.1

+5.2-3.5+8.7-2.6+7.8

+13.0-3.2+16.3-4.3+17.3

+9.5-12.8+22.2-11.5+21.0

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 159Pending

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AI summary

Wholly owned subsidiary Maxcure Nutravedics received a penalty of INR 1,79,55,000 (about INR 1.80 crore) from the Deputy Commissioner of State Tax, Gujarat under section 129(3) of CGST Act, 2017. Reason: incorrect shipping address entered in the invoice and e-way bill of October 2025. Order dated 12 Dec 2025, received on 15 Dec. Company states the financial impact is not material.

Likely market impact

Minor tax penalty on subsidiary for an invoicing error. Company says impact is not material. Limited effect on the stock expected.