HP Adhesives Limited has informed the Exchange about General Updates
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Awaiting price reaction for this filing.
HP Adhesives has received a Final GST Audit Report from the Assistant Commissioner of CGST & C. Ex. Audit, Mumbai, covering FY 2019-20 to FY 2023-24. The audit has ascertained total GST dues of approximately Rs. 3.11 crore, including tax, interest, and penalty. The largest single item is non-reversal of Input Tax Credit (ITC) on IPO expenses, amounting to roughly Rs. 2.84 crore. The company has voluntarily paid Rs. 19.25 lakh along with interest and penalty for findings it has accepted, while evaluating its options for the remaining Rs. 2.92 crore. The company says it has cooperated with authorities and strengthened its compliance framework.
This is a tax-related compliance matter and not a SEBI or court-driven action. The total demand of ~Rs. 3.11 crore is material for a small-cap company, and the bulk relates to IPO expense ITC reversal — a commonly disputed area. Short-term sentiment may turn negative due to the unresolved Rs. 2.92 crore exposure, but since the company is still in adjudication, the final financial impact remains uncertain. Shareholders should watch for further disclosures on the company's response to the balance findings.