Hindustan Zinc Limited has informed the Exchange about Action(s) taken or orders passed
HINDZINC · price
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Awaiting price reaction for this filing.
Hindustan Zinc has received an order from the Office of the Commissioner of Customs, NS-I, Maharashtra confirming a fine and penalty of Rs. 12,76,941 along with customs duty demand and applicable interest. The matter relates to the valuation of goods imported by the company during FY 2019-20. The company plans to file an appeal before the Appellate Authority within the prescribed time limit. The company believes it has strong grounds for appeal and does not expect the order to have any material financial impact.
The penalty amount (~Rs. 12.8 lakhs) is negligible relative to Hindustan Zinc's scale, and the company is contesting the order, so near-term impact on financials or stock price is expected to be minimal.