Samvardhana Motherson International Limited has submitted with the exchange an intimation under Regulation 30 of SEBI Listing Regulations.
Awaiting price reaction for this filing.
Samvardhana Motherson International Limited informed exchanges that SMR Automotive Brasil Ltda., its indirect wholly owned subsidiary, received a penalty order from the State of Sao Paulo tax authority on June 2, 2025. The penalty of USD 60,000 (approximately INR 51.54 lakhs) was imposed because an internal ERP system transition caused certain operational invoices to not be properly recorded during the fiscal period from January 2021 to December 2023, leading to deviations from accessory tax obligations. The company stated there is no material impact on the financial, operational, or other activities of SMR Brasil or the parent company. The delay in disclosure was attributed to the order being under review with advisors.
The penalty amount is very small relative to Motherson's overall scale, and the company has confirmed no material financial or operational impact. Shareholders are unlikely to see any meaningful effect on the stock price from this disclosure.