Excise Duty Order of about Rs 20.35 Crore; Company to Appeal
JYOTHYLAB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 1.4 pts more than its Household Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Jyothy Labs received an excise duty order from the CGST Commissionerate for April 2016 to June 2017, with a total demand of about Rs 20.35 Crore. This includes Rs 9.69 Cr excise duty, Rs 0.97 Cr penalty, Rs 9.69 Cr redemption fine, plus interest. The dispute is over HSN classification of a product. The company won a similar classification dispute at another location earlier and is now filing an appeal. Management expects no material impact on financials.
Company is filing appeal and sees no material financial impact per management. Investors should track the appeal outcome for any reversal risk.