Mawana Sugars Limited has informed the Exchange regarding 'Disclosure/Intimation under Regulation 30 of SEBI (LODR) Regulations 2015'.
MAWANASUG · price
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Mawana Sugars has disclosed that the Department of Excise, Uttar Pradesh imposed a penalty of ₹25,000 on its Nanglamal Sugar Complex unit in Meerut under the UP Molasses Control Rules, 1974. The penalty relates to the loss of molasses (worth ₹5,37,210) caused by an accident involving the vehicle of a transport contractor. The communication was received on June 9, 2025. The company has clarified that there will be no financial impact, as the molasses loss is covered under insurance and the penalty amount will be recovered from the transporter as per the purchase order terms.
Negligible impact on shareholders — the penalty is minor (₹25,000), the ₹5.37 lakh molasses loss is insured, and both the penalty and loss are recoverable from the transport contractor. No material effect on the company's financials or operations is expected.