With reference to your mail dated 19th January, 2025, we wish to submit the revised disclosure
BANARISUG · price
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Bannari Amman Sugars has submitted a revised disclosure to the exchange explaining the delay in reporting a demand notice received from Tamilnadu Power Distribution Corporation Limited (TNPDCL). The notice, dated March 6, 2025, was received by the company's Vengur Village sugar unit on Saturday March 15, 2025 after working hours, and was filed on Monday March 17, 2025 (the next working day). TNPDCL has demanded Rs. 8.69 crore (Rs. 3.24 crore as balance 50% tariff plus Rs. 5.45 crore as interest) towards start-up power charges from TANGEDCO for the period October 2013 to July 2017. The company states it will contest the matter with higher authorities, citing errors in calculations and applicability of interest, and will update on the financial impact after discussions.
The demand is contested and the actual financial impact is uncertain, but the company may face an outflow of up to Rs. 8.69 crore if the demand is upheld. Investors should watch for further updates as the matter progresses with TNPDCL authorities.