Balkrishna Industries faces Rs 1.05 Cr GST demand order, plans to appeal

Litigation LossRegulatory & Legal View source PDF Explain this filing

BALKRISIND · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.2%Reaction day

₹2219.70

prior close

₹2205.00

announcement price

After-mkt

timing

Nifty Midcap 150market+0.6%-1.8% vs market

Tyres & Rubber Products peers, median of 16sector+0.1%-1.3% vs sector

On the reaction day the stock moved 1.8 pts less than Nifty Midcap 150 and 1.3 pts less than its Tyres & Rubber Products 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

Stock

+0.4

10m

+0.3

15m

+0.4

30m

-0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.2+0.6-1.8+0.1-1.3

Next day

-2.4-1.4-1.0-1.2-1.3

-1.8-1.5-0.3-0.8-1.0

-2.7-3.1+0.5-2.8+0.1

-4.4-4.1-0.3-1.3-3.1

-4.7-4.0-0.6-1.3-3.3

-7.2-4.5-2.7-1.9-5.3

15d

-8.3-4.5-3.8-2.2-6.1

-4.5-9.6+5.1-6.5+1.9

—————

UpDownMarket · Nifty Midcap 150Sector · Tyres & Rubber Products peers, median of 16Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Balkrishna Industries received an adjudication order from the Assistant Commissioner of CGST, Bhuj Division under Section 74(1) of the CGST Act for FY 2021-22 and 2022-23. The order confirms a demand of Rs. 1.05 Crores plus equivalent penalty due to disallowance of input tax credit. The company states there is no impact on financial or operational activities and plans to contest the order at the higher appellate level.

Likely market impact

Rs 1.05 Cr GST demand is small for the company. Adverse order but appealable; management will contest. Minimal financial impact expected.