KEC International's Mali branch receives tax order of Rs 6.79 crore

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KEC · price

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

-0.6%Reaction day

₹378.25

prior close

₹380.00

announcement price

After-mkt

timing

Nifty Smallcap 250market+0.3%-0.9% vs market

Civil Construction peers, median of 102sector+0.0%-0.6% vs sector

On the reaction day the stock moved 0.9 pts less than Nifty Smallcap 250 and 0.6 pts less than its Civil Construction 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

+0.9

10m

+0.9

15m

+0.7

30m

+0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.6+0.3-0.9+0.0-0.6

Next day

-1.3-0.9-0.4-0.9-0.4

-2.4-0.5-1.9-1.5-0.9

-0.9+0.9-1.8-0.9-0.0

-4.1+1.0-5.0-0.5-3.6

-7.5-1.5-6.0-2.8-4.7

-4.1+0.1-4.3-1.9-2.2

15d

-13.5-7.7-5.9-9.1-4.4

-12.7pendingpending-7.4-5.3

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UpDownMarket · Nifty Smallcap 250Sector · Civil Construction peers, median of 102Pending

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AI summary

KEC International's Mali branch received an assessment order from Mali's Directorate of Large Enterprise (DGE) for the tax period January 2020 to December 2021. The order alleges offshore supplies were taxed using an ad-hoc margin and rejects a Ministerial Decree that exempted the project from taxes. Total demand: tax of FCFA 367 Mn (about Rs 6.10 crore) plus penalty of FCFA 408 Mn (about Rs 6.79 crore). The company is reviewing the order and plans to pursue legal remedies to contest it, and states it does not foresee any material financial impact.

Likely market impact

Likely minimal as company plans to contest and says no material financial impact expected on operations or financials.