In terms of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the disclosure regarding order imposing penalty passed against the Company.The details of the order is enclosed.
GRSE · price
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Garden Reach Shipbuilders & Engineers (GRSE) has disclosed a penalty order received from the Government of West Bengal – Commercial Taxes (GST) authority on 13 Feb 2026. The order relates to FY 2018-19 and pertains to non-reversal of input tax credit on credit notes, cancellation of supplier GSTINs, and non-filing of GSTR3B returns by suppliers. A penalty of ₹10,19,377 (about ₹10.19 lakhs) has been imposed. The company has stated there is no material financial or operational impact from this order, and it is appealable — GRSE will assess its right to appeal.
The penalty amount is small relative to GRSE's size and the company says it has no material financial or operational impact. Shareholders are unlikely to see any meaningful effect on the stock, though the company may incur legal costs if it chooses to appeal.