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On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.2 pts less than its Household Appliances peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Symphony Limited informed exchanges that the Deputy Commissioner of Commercial Taxes (Audit), Hubli has issued an Audit Report dated May 20, 2025 for Assessment Year 2021-22. The report, under Section 65(6) of the Karnataka GST Act, imposes an additional tax liability of Rs. 70,066 along with interest of Rs. 39,940, taking the total to Rs. 1,10,006. No penalty has been levied. The company has stated that there is no material impact on its financial, operational, or other activities and will pay the amount within the prescribed time limit.
The financial impact is negligible (about Rs. 1.1 lakh) and the company has confirmed it is not material. Shareholders are unlikely to see any meaningful effect on the stock price or business operations.