DCM Shriram Limited has informed the Exchange about Action(s) initiated or orders passed
DCMSHRIRAM · price
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The Excise Commissioner of Uttar Pradesh has reinstated import/export fees on denatured alcohol, reversing its own 2018 order that had suspended these fees. This action follows a Supreme Court ruling from October 23, 2024, which upheld the State's authority to levy such fees. The fees are now being applied retrospectively, covering FY 2018-19 to FY 2024-25. The company has stated there is no material financial or operational impact, except for approximately Rs. 40 crore, which is still being evaluated. DCM Shriram is also exploring legal options to challenge the order through appropriate forums.
Shareholders should note a potential one-time financial hit of around Rs. 40 crore, though the company asserts this is not material. The retrospective application over six years adds uncertainty, and ongoing legal action could lead to either escalation or reversal of the charge.