GST penalty orders worth about Rs 5.59 crores received for FY2020-23

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SHRIRAMFIN · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.5%Reaction day

₹1006.00

prior close

₹999.00

announcement price

After-mkt

timing

Nifty 100market-1.6%+0.1% vs market

Non Banking Financial Company (NBFC) peers, median of 219sector-0.8%-0.8% vs sector

On the reaction day the stock moved 0.1 pts more than Nifty 100 and 0.8 pts less than its Non Banking Financial Company (NBFC) 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

-0.8

10m

-0.2

15m

-0.1

30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.5-1.6+0.1-0.8-0.8

Next day

-1.2-1.2+0.1-0.7-0.4

-3.0-2.9-0.1-1.9-1.1

-3.4-3.3-0.1-1.8-1.6

-2.3-3.6+1.2-1.7-0.6

-6.1-4.5-1.6-1.9-4.2

-4.2-3.0-1.2-2.3-1.8

15d

-6.6-1.9-4.6-3.0-3.5

-18.0-4.0-14.0-6.4-11.6

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UpDownMarket · Nifty 100Sector · Non Banking Financial Company (NBFC) peers, median of 219Pending

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

AI summary

Shriram Finance received GST penalty orders from the Additional Commissioner of Central GST, Navi Mumbai, for FY 2020-21 to FY 2022-23, related to erstwhile Shriram City Union Finance. Total tax demand and penalties of about Rs 5.59 crores arise from non-payment under Reverse Charge Mechanism and ineligible ITC on vehicle dealer invoices. Company says no material financial or operational impact and plans to consult tax advisor for further action.

Likely market impact

Penalty amount is small relative to company size. Management states no material impact; may contest. Watch for updates.