GST order creates Rs 4.31 crore exposure at Deepak Phenolics

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

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₹1780.50

prior close

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Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+0.6%-0.2% vs market

Specialty Chemicals peers, median of 85sector+0.2%+0.2% vs sector

On the reaction day the stock moved 0.2 pts less than Nifty Smallcap 250 and 0.2 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

GST authorities ordered Deepak Phenolics, Deepak Nitrite's wholly owned subsidiary, to recover ineligible tax credit of Rs 2.15 crore plus interest and imposed a matching Rs 2.15 crore penalty. The subsidiary disputes the claim, has obtained an independent expert opinion and plans to appeal. Deepak Nitrite expects no material financial impact beyond the stated amounts.

Likely market impact

The stated exposure is Rs 4.31 crore before interest. An appeal may reduce or delay payment, but the order creates a near-term cost and uncertainty.