Rs 4.95 crore tax penalty imposed; company plans to appeal

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.4%+0.6% vs market

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On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 1.0 pts more than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The Central Goods and Service Tax Commissioner in Kutch imposed a Rs 49,53,224 penalty on 4 September 2025 for allegedly wrongly claiming and using excise tax credits. The company disputes the order, plans to appeal before the tax appellate tribunal and expects no significant impact on its finances or operations.

Likely market impact

The penalty creates a modest financial headwind, but the company expects no significant operational impact and is appealing the order.