Disclosure under regulation 30 of SEBI (LODR)
Awaiting price reaction for this filing.
The Assistant Commissioner of Sales Tax, Ghaziabad issued an ex-parte order on 29 March 2025 raising a tax demand of Rs. 6,35,74,760 (~Rs. 6.36 crore) against Umang Dairies for the period April 2016 to March 2017. The order was passed without hearing the company or allowing it to present its side on sales, purchases, and tax matters. The company received the order on 2 April 2025 and stated it will take suitable action within the prescribed timeline to contest it. Importantly, management has stated there is no material impact on the company's financial, operational, or other activities from this order.
Short-term overhang from a mid-sized tax dispute; however, since the order is ex-parte and the company intends to contest it, and management explicitly states no material financial impact, the long-term effect on shareholders should be limited unless the demand is upheld after appeal.