Sapphire Foods India Limited has informed the Exchange about Action(s) taken or orders passed
SAPPHIRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.3 pts less than Nifty Smallcap 250 and 3.5 pts less than its Restaurants peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Sapphire Foods India has received two show cause notices dated 26th May 2026 from the Assistant Commissioner (ST), Koyambedu Assessment Circle, Chennai. The notices relate to alleged excess availing of Input Tax Credit compared with GSTR-2B for the periods April 2022 to March 2023 and April 2023 to March 2024. The authorities have issued a cumulative demand notice amounting to INR 977.06 million. The company has stated that the claim is not maintainable and there is no material impact on its financial, operational, or other activities. The company is evaluating the notices and will respond appropriately.
The INR 977.06 million demand is significant, but the company has dismissed the claim as not maintainable with no material impact expected. While this represents a potential tax liability if the notice proceeds unfavorably, it remains a show cause notice at this stage and does not constitute a confirmed penalty or loss.