GST Show Cause Notice to Sanofi India over Rs 23.74 crore tax demand

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

-1.9%Reaction day

₹3143.40

prior close

₹3143.40

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%-0.3% vs market

Pharmaceuticals peers, median of 172sector-1.5%-0.5% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.5 pts less than its Pharmaceuticals 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

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10m

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15m

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30m

-1.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.9-1.6-0.3-1.5-0.5

Next day

-2.3-0.6-1.7-1.0-1.3

-2.9-0.8-2.1-1.9-1.1

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15d

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-4.6-8.0+3.4-6.6+2.0

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UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 172Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Sanofi India received a Show Cause Notice from Karnataka GST authorities dated 25 September 2026 alleging excess claim of Input Tax Credit for FY 2022-23. Proposed tax demand is Rs 14.43 crore plus interest of Rs 9.31 crore, totaling about Rs 23.74 crore. The company is examining the notice and plans to file a reply. It says it does not expect any adverse impact on its financials, operations or activities from this notice.

Likely market impact

Tax dispute at notice stage; company expects no material financial impact. Demand of about Rs 23.74 crore is modest for Sanofi India.