We would like to inform you that today; the Company has received the original copy of the Demand Order from the Office of the Commissioner of Central Excise & CGST, Bhavnagar, in respect of the Financial Year 2018-19 to 2023-24.The requisite information in this regard as per Para B of Part A of Schedule III under Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is given as Annexure A.
SAURASHCEM · price
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Awaiting price reaction for this filing.
Saurashtra Cement Limited has received a Demand Order from the Office of the Commissioner of Central Excise & CGST, Bhavnagar, covering the financial years 2018-19 to 2023-24. The company has not yet disclosed the actual demand amount or the nature of the dues in this initial intimation. The detailed information as required under SEBI's Listing Obligations and Disclosure Requirements (Regulation 30) is being attached as Annexure A. Investors will need to wait for further details or the annexure to assess the financial magnitude of this order. The company will typically have the option to appeal against the demand before higher authorities.
This is a potentially negative development for shareholders as it signals a possible tax-related liability from the government authorities. The stock price could face short-term pressure once the demand amount is disclosed; however, the actual financial impact will depend on the size of the demand and the company's ability to contest it successfully.