Expleo Solutions Limited has informed the Exchange regarding 'Expleo Solutions Limited has informed the Exchange regarding 'Disclosure under Regulation 30 read with Clause 20 Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015'.
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Awaiting price reaction for this filing.
Expleo Solutions has received an adjudication order from the Joint Director General of Foreign Trade (JDGFT), Pune on May 19, 2025. The order cancels SEIS (Service Exports from India Scheme) benefits claimed by the company for FY 2014-15, FY 2015-16, and FY 2016-17 ab initio. The company has been asked to repay these benefits along with applicable interest and penalty. The total principal liability is about ₹5.53 crore — ₹1 crore for FY 2014-15, ₹1.42 crore for FY 2015-16, and ₹3.12 crore for FY 2016-17. The disclosure was made under SEBI Listing Regulations, Clause 20 of Para A of Schedule III.
This is a negative, material financial event for shareholders. The company faces repayment of roughly ₹5.53 crore in SEIS benefits plus interest and penalties, which will hit earnings. Given the amounts are not huge relative to typical IT services revenues, the stock impact may be limited but the order signals regulatory scrutiny on past export incentive claims.