Subsidiary gets Rs 1.27 cr VAT demand from Kerala tax dept

Regulatory & Legal View source PDF Explain this filing

HINDWAREAP · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-0.2%Reaction day

₹171.42

prior close

₹171.42

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-1.5% vs market

Consumer Durables peers, median of 202sector · industry level+0.7%-0.9% vs sector

On the reaction day the stock moved 1.5 pts less than Nifty Microcap 250 and 0.9 pts less than its Consumer Durables 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

Stock

+0.1

10m

-0.5

15m

-0.0

30m

-0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.2+1.3-1.5+0.7-0.9

Next day

-1.2+1.1-2.3+0.6-1.8

-1.6-1.7+0.2-0.9-0.6

-0.8-1.5+0.6-0.8-0.1

-2.0-0.6-1.4-0.7-1.3

+0.3-0.4+0.7-0.1+0.3

+3.4-1.4+4.8+0.0+3.4

15d

+0.3pendingpending-4.5+4.8

—————

UpDownMarket · Nifty Microcap 250Sector · Consumer Durables peers, median of 202Pending

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

AI summary

Wholly-owned subsidiary Hindware Limited received a VAT demand order from the Kerala State GST Department for Rs. 1.27 crore, plus continuing interest and recovery charges, for non-submission of required forms under the Kerala VAT Act for FY 2012-13. The company is examining the matter with legal counsel and exploring remedies. Financial impact, if any, cannot be quantified yet.

Likely market impact

Small one-time tax demand on subsidiary; legal options being evaluated. Limited near-term effect expected on the listed entity.