Indo Rama Synthetics (India) Limited has informed the Exchange about Action(s) initiated or orders passed

Regulatory & Legal View source PDF Explain this filing

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

+1.0%Reaction day

₹52.68

prior close

₹52.85

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.4%-0.4% vs market

Other Textile Products peers, median of 179sector+0.8%+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 Other Textile Products 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

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10m

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

+1.0+1.4-0.4+0.8+0.1

Next day

+0.4+2.1-1.7+1.1-0.7

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-8.6+0.7-9.3-0.1-8.5

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-13.8-0.3-13.6-1.0-12.9

15d

-8.5+2.3-10.8+0.5-9.0

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-3.3-2.3-1.0-5.7+2.4

-1.6+0.2-1.7-7.0+5.4

UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 179Pending

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

AI summary

Indo Rama Synthetics has received an order from the Deputy Commissioner of State Tax, Nagpur (Maharashtra) demanding payment of Rs. 69.38 lakhs for FY 2020-21. This includes a rectified tax demand of Rs. 36.75 lakhs plus interest and penalty, arising from a dispute over Input Tax Credit under the GST Act, 2017. The company has been given 90 days to either pay the amount or file an appeal with the appropriate authority. The order was received on June 6, 2025, and the company has stated that financial impact will depend on the outcome of further proceedings. This is a continuation of an earlier intimation dated March 1, 2025, suggesting an ongoing tax matter.

Likely market impact

The financial impact is currently uncertain and contingent on whether the company pays the demand or successfully appeals. At Rs. 69.38 lakhs, the amount is relatively modest and unlikely to materially affect the company's operations or stock price, but it highlights ongoing tax compliance issues. Shareholders should monitor whether the company opts to appeal or settle the demand.