Update on Andhra Pradesh GST appeal order for FY2018

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ICICIPRULI · price

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▲ 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

-2.1%Reaction day

₹496.05

prior close

₹496.95

announcement price

After-mkt

timing

Nifty Midcap 150market-0.2%-1.9% vs market

Life Insurance peers, median of 5sector-0.4%-1.8% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty Midcap 150 and 1.8 pts less than its Life Insurance 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

+0.3

10m

+0.4

15m

+0.3

30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.1-0.2-1.9-0.4-1.8

Next day

-2.3+0.2-2.5-1.2-1.1

-1.6-0.1-1.5+0.6-2.2

-3.1-1.7-1.4-0.7-2.4

-0.8-0.3-0.5-0.6-0.2

+3.0+1.0+2.0+1.6+1.4

+1.6+0.5+1.1+0.2+1.4

15d

+1.0-1.1+2.1-2.4+3.4

+5.3+2.1+3.2-1.8+7.1

-0.5+1.2-1.8-3.9+3.4

-8.3-5.1-3.2-6.9-1.4

UpDownMarket · Nifty Midcap 150Sector · Life Insurance peers, median of 5Pending

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

AI summary

ICICI Prudential Life Insurance has received an appeal order from the Andhra Pradesh GST Appellate Authority for FY2018, related to excess input tax credit in GSTR-3B versus GSTR-2A. The order was partly in the company's favour and partly upheld the tax demand. Total financial impact: GST of 76,550 rupees, interest of 78,899 rupees, and penalty of 10,000 rupees, totalling 1,65,449 rupees. The company is paying the amount without admitting the allegations.

Likely market impact

Very small financial impact, immaterial for the company. Mixed appeal outcome with no major concern for shareholders.