HeidelbergCement India gets two GST orders from Jabalpur authority

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HEIDELBERG · price

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Price reactionminutes from the announcement price · days from the prior close

+1.1%Reaction day

₹171.65

prior close

₹172.33

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%+1.1% vs market

Cement & Cement Products peers, median of 35sector-0.5%+1.6% vs sector

On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 1.6 pts more than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

+1.1-0.1+1.1-0.5+1.6

Next day

+1.6+1.3+0.3-0.1+1.7

+1.8+1.6+0.2+0.3+1.5

+2.3+2.5-0.2+0.7+1.6

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UpDownMarket · Nifty Microcap 250Sector · Cement & Cement Products peers, median of 35Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

HeidelbergCement India received two orders from the Additional Commissioner, CGST and Central Excise, Jabalpur. The first order seeks about Rs 14.91 crore in tax (excess ITC of Rs 1.90 crore plus non-payment of GST of Rs 13.01 crore) for FY 2021-22, with penalty and interest. The second demands Rs 17.83 crore for excess ITC in FY 2018-19 with an equal penalty plus interest. The company says there is no material impact on financials or operations and will contest both orders.

Likely market impact

Tax demand of about Rs 32.74 crore plus penalties and interest. Company plans to contest and views it as non-material. Mildly negative.