GST order raises Rs 86.63 crore demand; company plans to appeal
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.0 pts less than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
A GST order dated 5 November 2026 alleges improper input tax credit claims involving goods not physically received or supplied during FY2021-22 to FY2024-25. It confirms a demand of Rs 31.57 crore and penalties of Rs 55.06 crore. The company disputes the findings and plans an appeal and a Gujarat High Court petition.
The combined demand could affect earnings and cash flow if upheld. The company says routine operations remain unaffected and it will contest the order.