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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 1.0 pts less than its Hospital peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Fortis Malar Hospitals informed the stock exchanges that it received a Show Cause Notice from the GST Authority (State Tax Officer, Chengalpattu) for the period April 2020 to March 2021, originally alleging a demand of ₹3,293.11 lakhs. After the company submitted its response, the GST Authority passed an order confirming a much smaller demand of only ₹2.78 lakhs (including interest of ₹0.81 lakhs and penalty of ₹0.98 lakhs). The balance amount from the original notice has been dropped entirely, meaning the company succeeded in reducing the demand by over 99%.
This is a strongly positive outcome for shareholders — the original ₹32.93 crore GST demand has been reduced to a negligible ₹2.78 lakhs, with the bulk of the claim dropped. The financial impact on the company is immaterial and should reassure investors.