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 Limited informed exchanges that its indirect wholly owned subsidiary, Samvardhana Motherson Reydel Autotecc Morocco SAS (SMRC Morocco), received a penalty order from the General Directorate of Taxes, Morocco. The penalty was imposed for delayed release of payments to certain suppliers due to technical challenges. The order was dated January 31, 2025, and the penalty amount is MAD 1,87,571, equivalent to approximately ₹17.20 lakhs. The company disclosed this with a delay, citing that the order was under review by parties and advisors.
The penalty amount is very small (~₹17.20 lakhs) relative to the company's overall size, and management has stated there is no material impact on the financials, operations, or other activities of the subsidiary or the company. This is unlikely to have any meaningful effect on the stock price.