Tax demand on Uzbekistan subsidiary, about Rs 14.79 crore exposure

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NEPHROPLUS · price

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

+0.8%Reaction day

₹680.50

prior close

₹701.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.0%+1.8% vs market

Healthcare Service Provider peers, median of 26sector+0.1%+0.7% vs sector

On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 0.7 pts more than its Healthcare Service Provider 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

+1.3

10m

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15m

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30m

+0.9

Sessions after the filingfrom the prior close

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Reaction day

+0.8-1.0+1.8+0.1+0.7

Next day

+2.3-1.5+3.8-0.2+2.5

+3.2-0.9+4.2+0.2+3.0

+2.9-0.3+3.1-0.2+3.1

+4.3+0.1+4.2-0.4+4.7

+9.5+0.7+8.8-0.0+9.5

+10.1+0.3+9.8+0.1+10.0

15d

+8.9+1.0+7.9-1.5+10.4

-4.8-2.4-2.5-2.8-2.0

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UpDownMarket · Nifty Microcap 250Sector · Healthcare Service Provider peers, median of 26Pending

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AI summary

The company's Uzbekistan subsidiary, Nephrocare Health Services Central Asia LLC, received a tax demand of about Rs 14.79 crore (net additional tax of Rs 11.50 crore plus penalty of Rs 3.29 crore, excluding interest) from the Tashkent City Tax Department after a tax audit covering 2023 to 2025. The company says the issue arose from a data mismatch between the Tax Department and the Ministry of Health regarding dialysis revenue. It believes it qualifies for tax exemption since over 90 percent of revenue comes from dialysis services. No appeal has been filed yet, but the company is evaluating legal remedies.

Likely market impact

Company views the demand as immaterial, plans to appeal, and expects the order to be set aside. Unlikely to materially affect consolidated financials.