Subros Limited has informed the Exchange about General Updates
SUBROS · price
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Awaiting price reaction for this filing.
Subros Limited has received an order dated July 7, 2025 from the Principal Commissioner of Customs, Greater Noida, following a show cause notice issued in July 2024. The Customs Department alleged incorrect availment of a notification benefit and mis-classification of two components valued at Rs 4.83 crore and Rs 11.71 crore. The order confirms a total demand of roughly Rs 35 crore, comprising a Rs 1 crore fine, Rs 16.54 crore in differential duty under section 112(a), a Rs 1 crore penalty, and an additional Rs 16.54 crore penalty under section 114A of the Customs Act, 1962. The company plans to appeal the order before CESTAT and, based on its own and legal counsel's assessment, expects a favorable outcome. Subros states there is no material impact on its financials, operations, or other activities at this stage.
Adverse customs order worth about Rs 35 crore; the company is appealing and expects to win, so near-term financial impact is likely limited, but the outcome of the CESTAT appeal remains a key risk for shareholders.