Dcm Shriram Industries Limited has informed the Exchange about General Updates regarding Action(s) taken or orders passed by any regulatory, statutory, enforcement authority or judicial body.
DCMSRIND · price
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The Excise Commissioner of Uttar Pradesh has reinstated import/export fees on denatured alcohol by revoking its 2018 order that had suspended these fees, following the Supreme Court's October 2024 ruling that upheld the State's authority to levy such charges. The fees are being applied retrospectively from 2018-19, which would cost the company about Rs. 8.81 crore. The management says this is not a material financial or operational impact and that they have asked the Government to reconsider the levy. Importantly, the Allahabad High Court (Lucknow Bench) has granted an interim stay on the UP Government's order on 30 July 2025 via a writ petition filed by the UP Sugar Mills Association. The next hearing is scheduled for 28 August 2025.
Near-term impact is limited because the High Court has stayed the order, buying time for the industry. If the stay is vacated, the company could face a Rs. 8.81 crore retrospective charge on its distillery business, which is small but worth watching for investors tracking the alcohol/sugar segment.