Subsidiary loses GST penalty order of about 1.22 crore rupees, appeal filed

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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

-0.6%Reaction day

₹140.33

prior close

₹141.00

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-1.0% vs market

Civil Construction peers, median of 99sector+0.0%-0.6% vs sector

On the reaction day the stock moved 1.0 pts less than Nifty Microcap 250 and 0.6 pts less than its Civil Construction 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

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15m

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Sessions after the filingfrom the prior close

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Reaction day

-0.6+0.4-1.0+0.0-0.6

Next day

-1.3+1.7-3.0+0.5-1.8

-5.0+0.2-5.2-1.0-4.0

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 99Pending

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

AI summary

Tax officer confirmed a penalty of 1,22,12,498 rupees on wholly-owned subsidiary ZNShine Solarworld under Section 129 of CGST Act over a consignment of imported solar cells. Subsidiary filed appeal on September 21, 2026 before Joint Commissioner Appeals and paid a pre-deposit of 12,21,250 rupees. Personal hearing scheduled for September 22, 2026. Company says penalty is not an admitted liability and has no material impact on its operations.

Likely market impact

Penalty contested in appeal. Company says no material impact on operations since the amount remains under dispute and is not admitted.