Alembic Pharmaceuticals Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
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Alembic Pharmaceuticals has received a GST Demand Note dated 1st July 2025 (received on 2nd July 2025) from the Office of the Assistant Commissioner of Central GST, Gangtok Division, Sikkim. The demand relates to recovery of purportedly excess amounts sanctioned or refunded under the 'Scheme of Budgetary Support' under the GST Regime for the period FY 2017-18 to FY 2024-25. The tax demand is Rs. 22.83 crore with additional interest of Rs. 10.38 crore, taking the total potential exposure to about Rs. 33.20 crore. The company has stated it will file an appeal with the relevant appellate authority to challenge the demand. No penalty or restriction has been imposed beyond the demand note itself.
The total potential outflow of around Rs. 33 crore (demand + interest) is material but not catastrophic for a company of Alembic's size; however, if the appeal fails, it could pressure near-term earnings. The matter is in early stages and the company is contesting, so there is no immediate hit to financials. Investors should watch for updates on the appeal outcome.