Genus Power Infrastructures Limited has informed the Exchange about Action(s) initiated or orders passed
GENUSPOWER · price
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On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 1.0 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Genus Power Infrastructures has received a customs duty order dated May 30, 2025 (delivered June 5, 2025) from the Appraiser (DAC) Audit Commissionerate, New Delhi. The order alleges the company wrongly availed custom duty exemption and demands a differential customs duty of about Rs. 2.36 crore (after adjusting already paid amount of Rs. 10.6 crore), interest on Rs. 12.95 crore, and a penalty of Rs. 12.95 crore under Section 114A of the Customs Act, 1962. The penalty can be reduced to 25% if paid within 30 days. The company says it will file an appeal with the appellate authority and that the order has no material impact on its financials or operations.
The company itself states there is no material financial or operational impact. However, if the appeal fails, the full penalty plus interest could become a liability. Investors should watch for the appeal outcome, though the amounts appear manageable relative to the company's size.