Everest Kanto Cylinder Limited has informed regarding receipt of Order from the Office of the Commissioner of Customs (Import), Andheri, Mumbai.
EKC · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.1 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Everest Kanto Cylinder received an order on July 21, 2025 from the Principal Commissioner of Customs (Import), Air Cargo Complex, Mumbai, demanding Rs. 66.29 lakh as differential customs duty on imported raw materials. An equal penalty of Rs. 66.29 lakh has been imposed along with applicable interest, taking the total potential exposure to roughly Rs. 1.33 crore plus interest. The dispute stems from the reclassification of imported goods from a concessional customs tariff item (CTI 73072200) to a higher-duty category (CTI 73072900), attracting 25% basic customs duty. The company plans to appeal the order before CESTAT (Customs, Excise, Service Tax Tribunal) within the prescribed 3-month window, supported by legal counsel. The company has stated there is no material impact on its financials, operations, or other activities.
Mildly negative for the stock, though the company has downplayed the financial impact. The CESTAT appeal is the key next trigger — a favourable ruling would overturn the demand, while an adverse ruling could result in an outgo of about Rs. 1.33 crore plus interest. Investors should monitor appeal progress over the coming months.