Ramco Industries Limited has informed the Exchange about General Updates
RAMCOIND · price
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Awaiting price reaction for this filing.
Ramco Industries has received 6 GST orders from the Commercial Tax Officer (Chengalpattu Intelligence Division) covering FY 2018-19 to FY 2023-24. The orders relate to GST demand on a corporate guarantee the company provided to its group company Harini Textiles Limited, under Section 74 of the CGST Act. For each of the first five years, the demand is Rs. 8,33,220 in GST plus interest and an equal penalty; for FY 2023-24, the disclosed demand is Rs. 4,16,610. The total financial impact as quantified by the company is approximately Rs. 45.83 lakhs across all six orders. The company has disclosed these under SEBI LODR Regulation 30 as required for imposition of fine or penalty.
The financial hit is modest at around Rs. 45.83 lakhs, which is small relative to typical company earnings. Shareholders should note that the orders relate to a group company transaction and may be appealed; near-term impact on the stock is likely limited.