Samvardhana Motherson International Limited has submitted with the exchange an intimation under Regulation 30 of SEBI Listing Regulations.
MOTHERSON · price
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Awaiting price reaction for this filing.
Samvardhana Motherson International has informed the exchanges that its indirect wholly-owned subsidiary, SMR Automotive Brasil Ltda., has received a penalty order from the State of Sao Paulo tax authority in Brazil. The penalty was imposed because, during an internal ERP system transition, some operational invoices were not properly recorded between January 2021 and December 2023, leading to a deviation from applicable accessory tax obligations. The penalty amount is USD 60,000 (approximately ₹51.54 lakhs). The company has confirmed that this order has no material impact on the financial position or operations of either the subsidiary or the parent company. The disclosure was filed on June 5, 2025, with a slight delay because the order was under review by the company and its advisors.
The penalty is very small (around ₹51.54 lakhs) relative to Motherson's overall size and is explicitly stated to have no material financial or operational impact, so shareholders are unlikely to see any meaningful effect on the stock from this news.