GST demand order of INR 3.86 crores; company plans to appeal

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INDIGOPNTS · price

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

+0.8%Reaction day

₹1180.00

prior close

₹1174.00

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+1.3%-0.4% vs market

Paints peers, median of 8sector+0.7%+0.1% vs sector

On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.1 pts more than its Paints 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

+0.4

10m

+0.3

15m

+0.5

30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.8+1.3-0.4+0.7+0.1

Next day

+0.3+2.6-2.3+1.1-0.8

-0.8+2.7-3.5+2.1-2.9

-2.0+2.1-4.1+1.2-3.2

-4.2+1.6-5.9+0.7-4.9

-4.7+0.8-5.6+0.9-5.7

-3.1+2.2-5.2+0.7-3.8

15d

+1.3-1.6+3.0-0.1+1.5

-1.9-3.0+1.2-1.7-0.1

-18.3-1.6-16.7-11.6-6.7

-36.6-10.5-26.1-21.7-14.9

UpDownMarket · Nifty Microcap 250Sector · Paints peers, median of 8Pending

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

AI summary

Indigo Paints received a GST demand order of INR 3.86 crores (including interest and penalty) from the Commissioner of Central GST, Ahmedabad, for alleged short payment of tax due to wrong ITC claims and non-payment of interest on delayed filing, covering period 2018 to 2023. The company states there is no immediate financial or operational impact and plans to file an appeal with the Commissioner (Appeals), Central GST, Ahmedabad.

Likely market impact

Demand is small relative to company size; appeal pending. Watch appeal outcome, but limited near-term impact expected.