Karnataka GST appeal dismissed, company says no material impact

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LAMBODHARA · price

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

-3.5%Reaction day

₹116.20

prior close

₹113.15

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-3.2% vs market

Other Textile Products peers, median of 180sector+0.3%-3.8% vs sector

On the reaction day the stock moved 3.2 pts less than Nifty Microcap 250 and 3.8 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Lambodhara Textiles informed the exchange that the Joint Commissioner of Commercial Taxes (Appeals), Dharwad Division, dismissed its appeal under Section 107(11) of the Karnataka GST Act, 2017. The appeal was filed against an earlier order from March 2024 demanding Rs 7.24 lakh total, including penalties of Rs 3.62 lakh under CGST and Rs 3.62 lakh under SGST. The company has already paid the demanded amount. The company stated the appellate order has no material impact on its financials, operations, or other activities.

Likely market impact

Appeal lost but amount already paid; company says no material impact on financials or operations.