Subsidiary gets Rs 105.5 Cr GST show cause notice

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JUBLPHARMA · 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

+0.2%Reaction day

₹878.40

prior close

₹883.05

announcement price

In-mkt

timing

Nifty Smallcap 250market+0.3%-0.2% vs market

Pharmaceuticals peers, median of 171sector+0.4%-0.2% vs sector

On the reaction day the stock moved 0.2 pts less than Nifty Smallcap 250 and 0.2 pts less than its Pharmaceuticals 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

+0.3

15m

+0.2

30m

-0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.2+0.3-0.2+0.4-0.2

Next day

+1.0-0.3+1.3+0.2+0.8

+2.7-0.4+3.1-0.1+2.8

+2.5-1.0+3.4-0.1+2.5

+3.5+0.1+3.5+0.2+3.4

+5.5+0.3+5.3+0.7+4.8

+13.8+0.5+13.3+1.1+12.7

15d

+19.5-0.8+20.4+0.7+18.8

+20.9-3.1+24.0-0.3+21.2

+6.8-7.8+14.6-3.5+10.3

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UpDownMarket · Nifty Smallcap 250Sector · Pharmaceuticals peers, median of 171Pending

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

AI summary

Jubilant Generics, wholly-owned unit of Jubilant Pharmova, received a GST show cause notice from CGST Division, Roorkee for FY 2020-21 and 2021-22. The notice alleges violation of Rule 96(10) around IGST refund and Advance Authorisation scheme. Demand: Rs 52.75 Cr tax plus Rs 52.75 Cr penalty, interest not quantified. Company calls the notice factually incorrect and will file a detailed reply, expecting no financial or operational impact.

Likely market impact

Tax demand of about Rs 105.5 Cr contested by the company. Management expects no material impact, but outcome of reply is uncertain.